We offer accounting service to help your company eliminate specialized employment costs overseeing accounting related matters. Our accounting solutions can assist in meeting your accounting requirements and BIR compliance while you use your time on revenue-generating activities and get your business to the next level.

General Accounting service Includes day to day business transactions i.e. customer payments, bills, invoices, bill payments, disbursements & withdrawals; maintain ledgers for Accounts Receivable, Accounts Payable and cash account and produce daily or weekly reports according to the client’s preference; prepare periodic reports, financial statements, bank reconciliations and general accounting needs.

I. Preparation of Books of Accounts:

  • Cash Receipts Book
  • Cash Disbursements Book
  • General Journal
  • Purchases Journal
  • Sales Journal
  • General Ledger

II. Tax Computation and Preparation of forms for the following:

  • Monthly Withholding Tax – Expanded
  • Monthly Percentage Tax Return (if applicable)
  • Monthly and Quarterly Value Added Tax Return

We will take care of filing your sales, expenses and Income Tax Return (ITR) to the Bureau of Internal Revenue. We will also be the one to do tax computation and preparation of forms.

VAT Registered – Single Proprietorship

  • Withholding Tax Expanded
    • 1601E (Filed every 10 th day of the following month)
    • 1604E Annual Information Return (Filed every March 01)
  • Withholding Tax Compensation
    • 1601-C (Filed every 10 th day of the following month)
    • 1604-CF Annual Information Return (Filed every January 31)
  • Income Tax (VAT Registered)
    • 2550M (Filed every 20 th day of the following month)
    • 2550Q (Every 25 th day after the close of each month)
    • 1701Q (Every 20 th day after the close of each quarter)
    • 1701 Annual Income Tax Return (Filed on or before April 15 th of the following year)

VAT Registered – Partnership / Corporation

  • Withholding Tax Expanded
    • 1601E (Filed every 10 th day of the following month)
    • 1604E Annual Information Return (Filed every March 01)
  • Withholding Tax Compensation
    • 1601-C (Filed every 10 th day of the following month)
    • 1604-CF Annual Information Return (Filed every January 31)
  • Income Tax (VAT Registered)
    • 2550M (Filed every 20 th day of the following month)
    • 2550Q (Every 25 th day after the close of each month)
    • 1702Q (Every 20 th day after the close of each quarter)
    • 1702 Annual Income Tax Return (Filed on or before April 15 th of the following year)
  • Percentage Tax (Non-VAT Registered)
    • 2551M (Filed every 20 th day of the following month)
    • 2551Q (Filed every 25 th day after the close of each month)
    • 1701/1702 Annual Income Tax Return (Filed on or before April 15 th of the following year)
  • Creditable Withholding Tax at Source (CWT). This is attached to the following with different deadlines:
    • For Expanded Withholding Tax: to be filed on or before the 20th day of the month following the taxable quarter, the form must be attached to 1701 or 1702 forms, in which case the amount is allowed to become tax credit against taxable income.
    • For Percentage Tax on government money payments: Certificate must be attached to 2551 forms and must be issued on or before the 10th day of the following month.
    • For VAT Withholding certificate must be issued on or before the tenth day of the month following the month when withholding was made. To be attached to 2550 forms.

Documentary Stamp Tax is a tax on documents, instruments, loan agreements
and papers evidencing the acceptance, assignment, sale or transfer of an
obligation, rights, or property incident thereto. 

Income Tax is a tax on all yearly profits arising from property, profession, trades
or offices or as a tax on a person’s income, emoluments, profits and the like.

Percentage Tax is a business tax imposed on persons or entities who sell or lease
goods, properties or services in the course of trade or business whose gross
annual sales or receipts do not exceed P550,000 and are not VAT-registered.

Value-Added Tax is a business tax imposed and collected from the seller in the
course of trade or business on every sale of properties (real or personal) lease of
goods or properties (real or personal) or vendors of services. It is an indirect tax,
thus, it can be passed on to the buyer. 

Withholding Tax on Compensation is the tax withheld from individuals receiving
purely compensation income.

Expanded Withholding Tax is a kind of withholding tax which is prescribed only
for certain payors and is creditable against the income tax due of the payee for
the taxable quarter year.

Creditable Withholding Tax at Source (CWT) is the tax which is withheld by the
buyer/withholding agent from his payment to the seller for the sale of the seller’s
ordinary asset/services, and which tax is creditable against the income tax
payable of the seller.

Annual Income Tax Return

  • Form 1700 Income Tax Return for Individuals Earning Purely Compensation Income (Including Non-Business/Non-Profession Income)
    • This must be filed on or before April 15 of each year covering income for the preceding taxable year with a copy of BIR Form 2316 issued by the Employer
  • Form 1701 Annual Income Tax Return for Self-Employed Individuals (Sole Proprietorship), Estates and Trusts
    • This must be filed on or before April 15 of each year covering income for the preceding taxable year.
  • Form 1702-RT Annual Income Tax Return for Corporation, Partnership and Other Non-Individual Taxpayer Subject Only to REGULAR Income Tax Rate
    • This must be filed, with or without payment, on or before April 15 of each year covering income for the preceding taxpayer's taxable year.

Creditable Withholding Tax at Source (CWT) BIR Form 2307. This is attached to the following with different deadlines:

  • For Expanded Withholding Tax: to be filed on or before the 20th day of the month following the taxable quarter, the form must be attached to 1701 or 1702 forms, in which case the amount is allowed to become tax credit against taxable income.
  • For Percentage Tax on government money payments: Certificate must be attached to 2551 forms and must be issued on or before the 10th day of the following month.
  • For VAT Withholding certificate must be issued on or before the tenth day of the month following the month when withholding was made. To be attached to 2550 forms.

Certificate of Final Income Tax Withheld

  • Form 2306 must be issued to payee on or before January 31 of the year following the year in which income payment was made.

Certificate of Compensation Payment or Income Tax Withheld

Form 2316 must be attached to the Annual Income Tax Return (BIR Form 1700 for individuals receiving purely compensation income or BIR Form 1701 for individuals with mixed income). The Certificate must be issued by Employer on or before January 31 st of the succeeding year