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Tax payments by companies, now more than ever, have been made easy with BIR’s Computerized Accounting System or CAS. This has already been a requirement by the Bureau of Internal Revenue (BIR) mandated to all large taxpayers in the Philippines to utilize for a more secure, accurate, proficient and reliable tax audits. An online accounting system that truly provides great benefits is the one that is also BIR CAS compliant.
BIR CAS plays a vital role for every business. For companies who have been classified to be taxpayers classified in accordance with the criteria under Revenue Regulations No. 1-1998 and has been notified by the Bureau of Internal Revenue to acquire CAS, it is imperative to comply and follow the government’s regulations.
In a nutshell, BIR CAS can manage all the daily transactions, organize the operations and ensure that all transactions and postings are compliant with the BIR rulings.
First, we have to take note of the necessary reports and pertinent documents required by BIR. These are the company’s a) financial reports, b) report summary, c) data files as well as d) forms and certificates.
The financial reports of the company should include the following:
With all these, it is noteworthy to take into the account the online accounting system that is already BIR CAS accredited. This is to secure that everything is done seamlessly with no hassle.
At present, the process for BIR Computerized Accounting System accreditation is complicated, taxing and time-consuming as many applications are in tow. In fact, taking the risk of having an online accounting system that is not CAS compliant is not at all worth it. Using an online accounting system that is not CAS compliant can be penalized with a first-offense payment of P25,000 and P50,000 for the second offense. Why waste with dues and penalties when you can have an online accounting system that is CAS certified and actually works for you?
Business processes in the Philippines is a daunting task especially with the activation of the BIR special task force called CSET or Computerized Systems Evaluation Team. Such stringent measures are needed to have impeccable financial evaluation and tax filing.
With an online accounting system that is CAS certified, then there won’t be any problem at all with tax authorities hovering over your company’s financial records. With the Bureau of Internal Revenue Regulation 9-2009 requiring large taxpayers to have a Computerized Accounting System CAS, no doubt, EasyFS can help you out! The challenges of getting BIR CAS accreditation is actually no big deal anymore.
With EasyFS, you have a dependable and accredited software-as-a-service to cater to your tax filing requirements. With the long list of requirements, don’t lose heart, EasyFS is CAS (Computerized Accounting System) compliant, ever ready for government taxation.
EasyFS is an automated online account software as well as inventory management system that is well integrated, user-friendly and works perfectly in any kind of business start-up with the following features and benefits:
Just shrug at the long list of requirements. EasyFS. It can do wonders for your taxations needs. For queries, check out: Human Incubator at +63-32-256-2904 or +639088601619 or check our site: https://human-incubator.com/