Here’s What You Need To Become CAS-Ready

What is all the buzz regarding BIR-CAS readiness? CAS stands for Computerized Accounting System,  a requirement that the Philippines’ Bureau of Internal Revenue (BIR) demands of business owners who are large taxpayers. However, since the natural progression and goal of businesses is growth, small businesses have slowly joined the bandwagon and have started to work on becoming CAS-compliant. 

BIR Computerized Accounting System-Ready means integrating accounting components so that a company can manage its own set of computerized accounting books, records, and documents. With this, Revenue Regulations No. 09-2009 regulates the registration of Computerized Accounting Systems (CAS) for certain taxpayers.

For companies that have been classified by the BIR as large taxpayers,  the adoption of a valid CAS is a requirement. And for the rest, especially some companies who voluntarily choose to register, a BIR Computerized Accounting System-ready accounting system is, in many ways, beneficial in the preparation and maintenance of accounting records. So much so for small businesses who are vying to play with the big boys in the future. 

So in order to become CAS-ready here is what you need to do. To comply with the requirements for accreditation, a company must submit the following documentation requirements. Here is a checklist for you to serve as a guide in preparing to become CAS-ready.

1. Accomplished BIR Form 1900 – This is the application for Authority to Use a Computerized Accounting System and its components and BIR Form 1907 (Application for Permit to Use Cash Register Machine/Point of Sale Machine).

2. Company profile such as a photocopy of BIR Certificate of Registration, Previously Issued Permit and also, and Current Registration Fee Payment

3. Provision of a Location map of the place of business

4. An Inventory of previously approved unused Invoices and receipts, if applicable

5. List of branches that will use CAS, assuming there are multi branches involved

6. Form to be filled up for technical and automation requirements such as:

• a.) Application Name and Software Used (Development & Database)
• b.) Functions and Features of the application
• c.) System Flow
• d.) Process Flow
• e.) Back-up Procedure, Disaster, and Recovery Plan – (all simplified as Annex B of RMO 9-2021)
• f. Sworn Statement and Proof of System Ownership
• g.List of Reports and Correspondences that can be generated from the system with their description, purpose, and sample layout
• h. Facsimile of System Generated Loose-leaf Books of Accounts and List of receipts and invoices – (All simplified as Annex C & C1 of RMO 9-2021)

7. Compliance with additional requirements in case there are sister companies, subsidiaries, franchised, and multi-branches. Photocopy of previously issued permit of the main company, another branch using the same system

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Once these forms are all filled up and complied with, the Bureau of Internal Revenue will check the validity and completeness of the requirements that have been submitted. 

What would transactions cover? This will include a summary of sales and purchases, journals, ledgers, and transactions.

The evaluation involves showing how transactions are encoded into the system together with the reports generated as required by the Bureau of Internal Revenue. 

After everything has been compiled with,  a CAS Acknowledgement Certificate is issued. Now, the real work begins. Having an accounting system is not complete. It has to be carefully considered and has to be one that is integrated and must have the capability to operate daily as well as cope with regulatory requirements. And compliant with updated requirements of RMO 9- 2021.

Hence, BIR CAS-ready cloud accounting software is a must-have. Why? Because it just has to be. Otherwise, it would not work well together with the requirements stipulated by the Bureau of Internal Revenue.

There are a few BIR CAS-ready cloud accounting software available, but which one works well for you?  In today’s digital age, businesses have access to a variety of online accounting software options that can help them manage their finances more efficiently. However, not all software is created equal, and not all of them are compliant with BIR Computerized Accounting System (CAS) regulations.

For small and medium-sized enterprises (SMEs) in the Philippines,  having a BIR CAS-ready cloud accounting software and one that is easy to use can be a challenge. 

This is the reason why you just do not settle for less. Today, one of the leading  BIR CAS-ready cloud accounting software providers is here to meet the growing demands of your business.

Consider EasyFS, a homegrown BIR CAS-ready cloud accounting software. It is the perfect solution for SMEs looking to streamline their accounting process and stay compliant with BIR regulations. EasyFS keeps track of the latest BIR guidelines for CAS to ensure that the software remains consistent, compliant, and easy for you to generate BIR-compliant financial reports on time and avoid any potential penalties.

While accounting per se can be such a tedious task for small businesses, EasyFS can get the job done and makes these tasks manageable. That is why it has been designed to be BIR CAS-ready cloud accounting. It is user-friendly and intuitive, making it easy for you to manage your finances and stay on top of your accounting obligations.

So, there is no reason for concern anymore. Go through the checklist and fill up all documentation needed for accreditation. Then, EasyFS can take it from there. For a free demo of how it works, see: https://human-incubator.com/easy-fis/

easyFS gives you a highly-accurate and real-time view of your financial statements.

Sign-up for a FREE easyFS Accounting System now!

easyFS gives you a highly-accurate and real-time view of your financial statements.

Sign-up for a FREE easyFS Accounting System now!