If you are not a fan of writing especially on your manual books of accounts, there is a way to get away with these daunting tasks.
Here are the steps to finally say goodbye to the manual book of accounts:
1. Use a spreadsheet to record all your transactions or better yet subscribe to cloud accounting software.
Bear in mind that the report should produce the basic books of accounts format as required by the Bureau.
- Cash Receipt Journal
- Cash Disbursement Journal
- General Journal
- General Ledger
- Sales Journal
- Purchase Journal
2. Apply for PTU (Permit-to-Use) looseleaf books of accounts. Here is how:
3. Fill out the BIR Form 1900 https://www.bir.gov.ph/index.php/bir-forms/application-forms.html
4. Fill out the application form (there are RDOs that requires this form)
5. Submit a sample printout or format to be used (1 original)
6. Submit a Sworn Statement from the owner stating among others –
- Types of books to be used
- Invoices, receipts, and other accounting records together with the serial number of principal and supplementary invoices/receipts to be printed;
- Commitment to permanently bind the loose-leaf forms within 15 days after the end of each taxable year or upon the termination of its use
7. If transacting thru a representative
- Special power of Attorney (Board Resolution, if a corporation)
- Any government-issued ID of the taxpayer and an authorized representative
Sworn statement sample below:
Sample Sworn Statement for Permit to Use Loose-leaf Books of account
“KEEP CALM AND SAY GOODBYE TO MANUAL BOOK OF ACCOUNTS.”
Author:
Socorro L. Abadier is the founder of SGL Accounting and Business Solutions. Before establishing her practice, she worked as an Internal Auditor and Branch Manager at one of the major banks in the Philippines and as an External Auditor of one of the top 4 Accounting firms in the Philippines.