Philippine Peachtree the Hope in BIR Compliance

The Philippines’ Bureau of Internal Revenue through Revenue Regulation No. 09-2009 defines the requirements, obligations and responsibilities of Philippine taxpayers. Compliance with the reporting requirements of the revenue body, in this case the BIR, is supposed to be built into the accounting system that a company considers putting in place.

What matters of utmost importance in business, is paying taxes and recording its financial accounts in a manner prescribed by tax authorities and regulators. No organization exists in a vacuum and for a company to gain legitimacy in the eyes of its existing and potential customers, it must be compliant to tax policies of the internal revenue body. In the case of the Philippines, this is the Bureau of Internal Revenue.

The BIR, through its Revenue Regulation No. 09-2009, has defined the requirements, obligations and responsibilities of Philippine taxpayers. This pertains to the use of electronic systems or the Computerized Accounting System (CAS) for record-keeping, maintenance of records and books of accounts. 

All of these standard forms and reports are provided by the Philippine Peachtree. Among the standard forms offered by this, such as the purchase order, goods receipt PO, goods returns, A/P debit memo, A/P voucher, sales quotation, sales order, delivery, returns, A/R credit memo, AR invoice, incoming payment, goods issued and inventory transfer we also offer:

Standard reports provided in the software are the balance sheet, trial balance, profit and loss statement, cash flow, general ledger report, aging report, transaction journal report, document journal, cash flow reference, withholding tax report, VAT reconciliation report, check register report, item list, last prices report, inventory posting list, inventory status report, inventory valuation simulation report, serial numbers report, batch numbers report, open items list, and order recommendation.