Booklab Accounting and Consultancy

**"It’s September 1st, which means the holiday countdown has officially begun! Brace yourselves, the Christmas carols are coming…

We're starting now! Consider this your first Christmas gift: good vibes only! More gifts coming soon! 🎁 "**

🙏🏻

Major global IT network outage affecting banking services, flights, television, supermarkets The are reports of global network outages involving television and banking services.

Post-tax season 🩵
Where accountants can finally exhale and have some fun 🎶

🌟 Join Our Team - Associates Wanted! 🌟

📊 Position: ACCOUNTING ASSOCIATE
🔍 Position: ADMINISTRATIVE ASSOCIATE

1. 📊 Position: Accounting Associate
As an integral part of our team, you will be responsible for supporting various aspects of our accounting operations. This role offers an excellent opportunity for career development and exposure to diverse accounting functions.

🎯 Qualifications (Accounting Associate):
Bachelor's degree in Accounting or related field
Strong understanding of accounting principles and practices
Proficient in MS Excel and accounting software (e.g., QuickBooks, Xero)
Excellent analytical and problem-solving skills
Detail-oriented with a high level of accuracy
Effective communication and teamwork abilities
Willing to travel on field works

2. 🔍 Position: ADMINISTRATIVE ASSOCIATE
As a vital member of our team, you will be responsible for providing comprehensive administrative support to ensure the smooth operation of our firm. Your role will involve managing office tasks, assisting with client communications, and collaborating with our accounting professionals to maintain efficient workflows.

🎯 Qualifications (Admin):
Graduate of any business related course
Strong organizational and multitasking abilities
Excellent communication skills, both written and verbal
Proficient in MS Office (Word, Excel, PowerPoint)
Familiarity with accounting software is a plus
High attention to detail and accuracy

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🌈 Benefits:
!!! Competitive salary and flexible pay increment
!!! Corporate incentive TRIPS
!!! Sign-up leave credits
!!! 5 days work-week on slack period; 7-hour daily work schedule
!!! Opportunities for professional development
!!! Collaborative and supportive work environment
!!! Personal work space and computer/laptop provided
!!! Client fee profit sharing on select services for senior associates
And many more!

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🏢 About Us:
We are a leading accounting firm committed to delivering top-notch financial solutions to our clients. With a reputation for excellence and a commitment to integrity, we take pride in our team of dedicated professionals who play a crucial role in our success.

💼 How to Apply:
Please submit your resume along with an application letter highlighting why you would be a great fit for our team. Email your application by January 15-18, 2024 to:

[email protected]

Booklab Accounting and Consultancy
0917-157-9347 / 0917-835-2656
www.booklabacctg.com

Republic Act No. 11976, also known as “Ease of Paying Taxes Act” is signed into law by President Ferdinand R. Marcos Jr. last January 5, 2024 which includes among others the removal of paying annual registration fee of Php500.00 which is due every January 30 of each year.

Waiting for the release of the RR.

You're tired of using clunky accounting software that takes too long to learn and use. It's hard for you to keep track of your finances, and it's even harder for you to make sense out of them!

Imagine having an accounting software that is simple enough for anyone in your company to use, but also powerful enough so you can get the information you need when you need it.

Cloud Accounting offers everything from invoicing, payroll management, reporting tools, bank reconciliation and more – all on one platform.

Booklab Accounting offers cloud-based accounting solutions designed specifically for accountants and bookkeepers who work with small businesses. With our easy-to-use interface, we even offer training of the software for the basic use for your staff.

This return shall be filed by a Corporation, Partnership and Other Non-Individual Taxpayer EXEMPT under the Tax Code, as amended [Sec. 30 and those exempted in Sec. 27(C)] and other Special Laws WITH NO OTHER TAXABLE INCOME such as but not limited to foundations, cooperatives, charitable institutions, non-stock and non-profit educational institutions, General Professional Partnership (GPP) etc.

You can download the form here:https://www.bir.gov.ph/images/bir_files/taxpayers_service_programs_and_monitoring_1/1702-EX%20Jan%202018%20ENCS%20v2.pdf

BIR Tax Deadline November 30, 2022
Source -https://www.bir.gov.ph/images/bir_files/tax_calendar/2022-bir-tax-calendar.pdf

You have to spend hours and hours every week doing your bookkeeping, which is a waste of time that you could use more productively.😩

Booklab Accounting can do all the work for you. We’ll take care of everything from recording transactions in QuickBooks to preparing financial statements and tax returns. This means less time on accounting tasks so you can focus on growing your business!

Save yourself time and money by outsourcing your bookkeeping needs to Booklab Accounting. Our team will handle all of your accounting tasks so you don't have to worry about it anymore!

DM us now and learn more about our services!

You're tired of trying to do your own bookkeeping, but you don't want to hire someone full-time. You've tried using online bookkeeping services before but it never worked for you! ☘️

Booklab Accounting is the perfect solution for busy entrepreneurs who want expert bookkeeping without the hassle of hiring a full-time employee. We offer qualified and experienced bookkeepers who will take care of all your accounting needs, so you can focus on what's important - running your business.

Let Booklab Accounting take the burden of bookkeeping off your shoulders. Our team of qualified and experienced bookkeepers will make sure your books are always in order, so you can focus on what's important - growing your business

DM us now and learn more about our services!💬

Bank reconciliation is the process of matching the balances in an entity's accounting records for a cash account to the corresponding information on a bank statement.

The goal of this process is to identify and correct any differences that may exist between the two records.

This is important because it helps ensure that an entity's financial statements are accurate.

The reconciliation process begins with a review of the bank statement. Any transactions that are not reflected in the accounting records should be identified and recorded. Next, any outstanding checks or deposits should be accounted for.

Finally, any fees or interest charged by the bank should be considered.

Once all of these factors have been taken into account, the reconciled balance should match the balance in the accounting records.

If not, further investigation may be necessary to identify any errors that have occurred.

DM us now and learn more about our services!

As the saying goes, "The money is in the list." And that's especially true when it comes to bookkeeping. 💸

By keeping track of your income and expenses, you can ensure that your business is running smoothly and efficiently.

Here are five important bookkeeping activities that every business should perform on a regular basis:

Let us help you take your business to the next level! Our team is passionate about helping businesses grow, and we have the experience and expertise necessary to get the job done right. Contact us today for a free consultation, and see how we can help you achieve your financial goals.

DM us now and learn more about our Accounting services!

If you're considering doing your own bookkeeping, here are a few things to keep in mind. 🙋‍♂️

📔 First of all, bookkeeping is extremely boring. You'll be spending hours upon hours staring at numbers, and it's likely that your eyes will start to glaze over after a while.

📔 Secondly, bookkeeping is very detail-oriented work. If you're not careful, it's easy to make mistakes that can cost you money.

📔 Finally, if you don't have any experience with bookkeeping, you could end up making some serious blunders that could put your business in jeopardy.

So, unless you're prepared to be bored out of your mind and risk making some costly mistakes, it's probably best to leave the bookkeeping to the professionals.

Let us help you take your business to the next level! Our team is passionate about helping businesses grow, and we have the experience and expertise necessary to get the job done right. Contact us today for a free consultation, and see how we can help you achieve your financial goals.

Businesses in the Philippines are required by law to maintain certain records. 📔

This includes financial records, such as ledgers and invoices, as well as personnel records, such as employee files. failure to comply with these requirements can result in significant penalties, including fines and jail time.

The Philippine government has established a clear set of guidelines for record-keeping, and businesses must take steps to ensure that they are in compliance. 🇵🇭

By keeping accurate and up-to-date records, businesses can avoid the risk of penalties and ensure that they are able to operate smoothly and efficiently.

Whether you need help with one aspect of your finances or want comprehensive support, Booklab Accounting Services is here to help.

Contact us today to learn more about our services and how we can help your business grow.☎

A registered business must prepare financial statements in accordance with the Philippine Financial Reporting Standards (PFRS) as mandated by the Securities and Exchange Commission.

Further, corporations with authorized capital stocks or paid-up capital of at least P 50,000 or quarterly gross sales of more than P150,000 must submit Financial Statements within 120 days of the end of their fiscal or calendar year, duly audited and certified by an independent public accountant (external auditor) and stamped ‘received’ by the BIR. No external auditor would issue an unqualified opinion unless the entity complied with PFRS in recording its transactions.

The BIR also requires annual income tax returns to be accompanied by audited financial statements.
The SEC and BIR may impose penalties for failure to submit financial statements and tax returns on time.

Taxpayers who are registered with the Bureau of Internal Revenue (BIR) are required to file an annual tax return.

However, in some cases, taxpayers may be required to file additional tax returns.

This can occur if the taxpayer has changes in their income or expenses, or if they are required to file a return for a different tax period.

For example, a taxpayer who is registered as a self-employed individual may be required to file quarterly tax returns.

If a taxpayer does not file the required tax returns, they may be subject to penalties and interest charges.

As such, it is important for taxpayers to stay up-to-date on their filing requirements. By understanding the requirements, taxpayers can ensure that they are in compliance with the law and avoid any penalties.

We are excited to announce that we are currently seeking a qualified accounting associate to join our team.

If you are qualified and interested in joining our dynamic organization, we encourage you to apply today! We look forward to reviewing your application.

Your favorite holiday is here, Happy Halloween.. Remember Trying to do your own taxes is like a do-it-yourself mugging..🔨👁️‍🗨️👻🎃

Xero Accounting software is a specialized piece of software that your business can use to manage tax invoices and recipes.

The software has a special email address which can be used to send invoices and recipes to your clients.

This email address can also be used to receive payment confirmation from your bank.

The software is designed to save you time and money by automating the process of sending and receiving invoices and payments.

With the Xero Accounting software, you can focus on running your business, safe in the knowledge that your accounting is being taken care of.

Let us help you take your business to the next level! Our team is passionate about helping businesses grow, and we have the experience and expertise necessary to get the job done right. Contact us today for a free consultation, and see how we can help you achieve your financial goals.

DM us now and learn more about our Accounting services!

We’re proud to be a 100% cloud practice with all our clients enjoying the benefits of . Taking advantage of the many features Xero has to offer will save you time and money, and allow you to focus on what you do best – not slaving over your accounts.

As a business owner, you have a lot on your plate. Between managing employees, keeping up with customers, and ensuring that your product or service is top-notch, the last thing you want to worry about is your accounting. That's where Xero comes in.

Xero is a cloud-based accounting software that offers users a wealth of features and benefits. Here are just a few of the reasons why you should consider using Xero for your business accounting needs.

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If you're running a small business, there are a few things you can stop doing in order to save time and money.

First, don't try to do your own accounting and bookkeeping. These tasks are best left to professionals, who can help you stay organized and on track.

Second, don't be afraid to delegate tasks to others. If you have employees or contractors, trust them to handle some of the work. This will free up your time so you can focus on more important things.

Finally, don't keep putting off important tasks. Procrastination can lead to missed deadlines and lost opportunities. So make a plan and stick to it!

Contact us today to learn more about our services and how we can help your business grow.☎

Fed up of doing your accounts by hand?

Xero is the perfect online accounting software for small businesses. It’s easy to use and helps you stay on top of your finances – meaning you can focus on what you do best.

We know it can be daunting importing and exporting data into a new system. That’s why we have step-by-step guides to make it as easy as possible for you. And if you need any help, our team is always happy to answer your questions.

As a result, Xero can help businesses save time and money by simplifying financial management.

With our help, you can take control of your company's finances and get a clear picture of your bottom line. Contact us today to learn more about this valuable resource for your business.

Here's a humorous quote that might make you smile. It is made for accountants. An accountant's job might seem easy, but it is just as challenging as this accountant quote or saying describes.

Paying taxes and filing tax returns are two very different things, yet many people seem to confuse the two.

Taxes are the money that you pay to the government every year in order to support various public services.

Filing a tax return, on the other hand, is the process of submitting a form to the government detailing your income and expenses for the year.

While you may have to do both paying taxes and filing a tax return, they are two distinct activities. Paying taxes is an obligation that all citizens must fulfill, while filing a tax return is voluntary.

However, if you do not file a tax return, you may be subject to penalties. So, it’s important to know the difference between paying taxes and filing a tax return.

A business name registration is often one of the first things that new entrepreneurs in the Philippines do when starting their business. After all, it is a simple and easy process that can be completed online in just a few minutes.

However, what many Filipinos don't realize is that a business name registration is only the first step in legalizing their business. In order to obtain all the necessary permits and licenses, businesses must go through a lengthy and complicated approval process.

As a result, the ease of doing business in the Philippines still has a long way to go. Despite these challenges, however, there are still many opportunities for those who are willing to put in the work to start and grow their own businesses. With determination and perseverance, anything is possible.

Read more here: https://www.sec.gov.ph/faqs/