Outsourced Bookkeeping Services for Foreign and Local Enterprises in the Philippines

In the Philippines, BIR compliance is essential for both local and foreign businesses. Bookkeeping can be complex, with numerous documents needing constant updates. Our expert team simplifies this process, ensuring all your tax filings and payments are timely and stress-free. Let us handle the intricacies so you can focus on growing your business with peace of mind.

• What is Bookkeeping?
• What are the benefits of Bookkeeping?
• What We Offer
• Frequently Asked Questions

Bookkeeping

Bookkeeping is vital for a business’s financial structure. It involves accurately recording and organizing transactions like sales and payments. It forms the basis for financial statements, aiding management in assessing performance and making strategic decisions.

In addition, Bookkeeping ensures compliance with financial regulations, simplifying audits and tax preparation. It also supports financial decision-making by providing insights into spending and profitability, helping businesses plan for sustainable growth. Effective bookkeeping is crucial for maintaining financial order and driving success.

Benefits of Bookkeeping

1. Accurate Financial Management: Bookkeeping ensures precise financial records, allowing businesses to maintain clarity and organization. This helps in effectively tracking income and expenses, empowering businesses to manage their finances with confidence and precision.
2. Regulatory Compliance: Bookkeeping keeps financial records accurate and up-to-date, helping businesses effortlessly meet regulatory standards. This streamlines audits and shields against legal troubles, ensuring tax compliance with ease and confidence.
3. Tax Preparation: Maintaining detailed financial records simplifies the tax preparation process, ensuring compliance with tax laws and potentially minimizing tax liabilities.
4. Investor and Stakeholder Confidence: Maintaining clear and accurate financial records fosters trust and credibility among investors and stakeholders. This transparency not only reassures them about the business’s financial health but also enhances the likelihood of attracting additional investment opportunities and support for future growth initiatives.
5. Performance Analysis: Consistent bookkeeping enables businesses to evaluate their financial performance over time, helping to identify trends, strengths, and areas that may need improvement. This ongoing analysis is crucial for making informed strategic decisions and driving business growth.

What We Offer:

#1: Maintenance of BOA

We will maintain and update your Book of Accounts (BOA) to avoid errors in your financial statements and tax filings.

#2: Transactions Recording

We will record all your transactions to our system to make sure that your financial assets are accurately and properly documented.

#3: Preparation and Filing of Tax Returns and Attachments

Our team will help you prepare and file the following tax returns and attachments:

• Annual Income Tax Return (BIR Form 1702) together with the Summary Alphalist of Withholding Tax at Source (SAWT)
• Annual Information Return of Income Taxes Withheld on Compensation (BIR 1604-C) with Alphabetical List of Employees
• Certificate of Creditable Tax Withheld at Source (BIR Form 2307)
• Documentary Stamp Tax Return (BIR Form 2000)
• Monthly Remittance Form of Final Income Taxes Withheld (BIR Form 0619-F)
• Monthly Remittance Form of Creditable Income Tax Withheld-Expanded (BIR Form 0619-E)
• Payees and Annual Report on Expanded Withholding Taxes (BIR Form 1604-E) with Alphalist of Payees
• Quarterly Remittance Return of Creditable Income Tax Withheld-Expanded (BIR Form 1601-EQ) including Quarterly Alphalist of Payees (QAP)
• Quarterly Remittance Return of Final Income Taxes Withheld (BIR Form 1601-FQ) with Quarterly Alphalist of Payees (QAP)
• Quarterly Remittance Return of Final Income Taxes Withheld (BIR Form 1603Q)
• Quarterly VAT Return (BIR Form 2550Q) with Quarterly Summary of Sales, Purchases, and Importations
• Quarterly Income Tax Return (BIR Form 1702Q), including Summary Alphalist of Withholding Tax (SAWT)

You may also check tax calendars to keep track of important tax deadlines and ensure timely compliance, which helps you avoid costly penalties and interest charges.