Core Group Accounting Outsourcing Services, Inc.

BIR Tax Deadline

Sep 1, 2024 Sunday

SUBMISSION
Consolidated Return of All Transactions based on Reconciled Data of Stockbrokers. August 16-31, 2023

Engagement Letters and Renewals or Subsequent Agreements for Financial Audit by Independent CPAs. Fiscal Year beginning November 1, 2023

Deadlines which fall on Weekends, Holidays and Non-Working days shall automatically be moved to the next working day.

LIST OF SAMPLE INVOICES
per Revenue Memorandum Circular No. 77-2024 (Annexes A1-B6)

https://www.philstar.com/business/2024/06/22/2364566/bir-extends-use-official-receipts-until-fully-consumed

BIR extends use of official receipts until fully consumed The Bureau of Internal Revenue is allowing businesses to use their remaining official receipts until fully consumed as part of the Ease of Paying Taxes Act.

We are looking for accounting interns/OJTs!

*Based on school requirements*

We are hiring a Senior Procurement Officer! 💙

https://www.linkedin.com/jobs/view/3950165981

URGENT HIRING: SAP Accountant

* Prepare and analyze financial statements, including balance sheets, income statements, and cash flow statements, to provide accurate and timely financial information to management, stakeholders, and regulatory authorities
* Maintain the general ledger by recording financial transactions, journal entries, and adjustments accurately and in accordance with accounting standards
* Oversee accounts payable processes, including processing vendor invoices, reconciling accounts, and ensuring timely payment to vendors while adhering to payment terms and internal controls
* Manage accounts receivable processes, including invoicing customers, posting customer payments, reconciling accounts, and following up on overdue balances to ensure timely collection of receivables
* Assist in the budgeting and forecasting process by providing financial data, analysis, and insights to support decision-making and planning activities
* Analyze financial data, trends, and variances to identify areas of improvement, assess financial performance, and provide recommendations to management for strategic decision-making
* Establish, implement, and maintain internal controls to safeguard company assets, prevent fraud, and ensure compliance with regulatory requirements and accounting standards
* Assist in tax compliance activities, by generating and forwarding transactions to Tax Accountant for the latter to prepare tax returns.
* Provide support during internal and external audits by preparing audit schedules, responding to auditor inquiries, and assisting in the resolution of audit findings
* Monitor cash flow, manage banking relationships, and oversee cash management activities to optimize liquidity and minimize risks associated with cash flow fluctuations
* Maintain and administer financial systems and software, including SAP accounting software, ERP systems, and reporting tools, to ensure accurate and efficient processing of financial transactions and reporting
* Ensure compliance with regulatory requirements
* Identify opportunities for process improvements, automation, and efficiency enhancements
QUALIFICATIONS:
* Bachelor's degree in accounting, finance, business administration, or a related field
* Certified Public Accountant (CPA) preferred but not required
* Minimum of 3+ years of experience as an Accountant
* A strong understanding of accounting principles and practices is essential for an Accountant.
* Proficiency in accounting software SAP
* The ability to analyze financial data, identify trends, and draw meaningful insights
* Should possess strong problem-solving skills Must be able to communicate financial information clearly and concisely, both orally and in writing
* The ability to manage multiple tasks, meet deadlines and prioritize work effectively
* Has Integrity and ethical behavior to maintain the confidentiality, accuracy, and reliability of financial information

🫶💙

HIRING: GENERAL ACCOUNTANT ❗❗

* Prepare and analyze financial statements, including balance sheets, income statements, and cash flow statements, to provide accurate and timely financial information to management, stakeholders, and regulatory authorities
* Maintain the general ledger by recording financial transactions, journal entries, and adjustments accurately and in accordance with accounting standards
* Oversee accounts payable processes, including processing vendor invoices, reconciling accounts, and ensuring timely payment to vendors while adhering to payment terms and internal controls
* Manage accounts receivable processes, including invoicing customers, posting customer payments, reconciling accounts, and following up on overdue balances to ensure timely collection of receivables
* Assist in the budgeting and forecasting process by providing financial data, analysis, and insights to support decision-making and planning activities
* Analyze financial data, trends, and variances to identify areas of improvement, assess financial performance, and provide recommendations to management for strategic decision-making
* Establish, implement, and maintain internal controls to safeguard company assets, prevent fraud, and ensure compliance with regulatory requirements and accounting standards
* Assist in tax compliance activities, by generating and forwarding transactions to Tax Accountant for the latter to prepare tax returns.
* Provide support during internal and external audits by preparing audit schedules, responding to auditor inquiries, and assisting in the resolution of audit findings
* Monitor cash flow, manage banking relationships, and oversee cash management activities to optimize liquidity and minimize risks associated with cash flow fluctuations
* Maintain and administer financial systems and software, including SAP accounting software, ERP systems, and reporting tools, to ensure accurate and efficient processing of financial transactions and reporting
* Ensure compliance with regulatory requirements and reporting obligations, including filing financial reports, disclosures, and other filings with regulatory authorities
* Identify opportunities for process improvements, automation, and efficiency enhancements in accounting and financial processes to optimize performance and enhance productivity

QUALIFICATIONS:
* Bachelor's degree in accounting, finance, business administration, or a related field
* Certified Public Accountant (CPA) preferred but not required
* Minimum of 3+ years of experience as an Accountant
* A strong understanding of accounting principles and practices is essential for an Accountant. This includes knowledge of financial statements, journal entries, reconciliations, and generally accepted accounting principles (GAAP) or International Financial Reporting Standards (IFRS)
* Proficiency in accounting software and enterprise resource planning (ERP) systems is typically required. Candidates should be comfortable using software such as QuickBooks, SAP, Oracle, or Microsoft Dynamics, as well as Microsoft Excel for data analysis and reporting
* The ability to analyze financial data, identify trends, and draw meaningful insights
* Should possess strong problem-solving skills to address issues that arise in financial reporting, reconciliations, or other accounting processes
* Must be able to communicate financial information clearly and concisely, both orally and in writing
* The ability to manage multiple tasks, meet deadlines and prioritize work effectively
* Has Integrity and ethical behavior to maintain the confidentiality, accuracy, and reliability of financial information
Job Type: Full-time
Location: Makati/Ortigas, NCR

HIRING: GENERAL ACCOUNTANT ❗❗

* Prepare and analyze financial statements, including balance sheets, income statements, and cash flow statements, to provide accurate and timely financial information to management, stakeholders, and regulatory authorities
* Maintain the general ledger by recording financial transactions, journal entries, and adjustments accurately and in accordance with accounting standards
* Oversee accounts payable processes, including processing vendor invoices, reconciling accounts, and ensuring timely payment to vendors while adhering to payment terms and internal controls
* Manage accounts receivable processes, including invoicing customers, posting customer payments, reconciling accounts, and following up on overdue balances to ensure timely collection of receivables
* Assist in the budgeting and forecasting process by providing financial data, analysis, and insights to support decision-making and planning activities
* Analyze financial data, trends, and variances to identify areas of improvement, assess financial performance, and provide recommendations to management for strategic decision-making
* Establish, implement, and maintain internal controls to safeguard company assets, prevent fraud, and ensure compliance with regulatory requirements and accounting standards
* Assist in tax compliance activities, by generating and forwarding transactions to Tax Accountant for the latter to prepare tax returns.
* Provide support during internal and external audits by preparing audit schedules, responding to auditor inquiries, and assisting in the resolution of audit findings
* Monitor cash flow, manage banking relationships, and oversee cash management activities to optimize liquidity and minimize risks associated with cash flow fluctuations
* Maintain and administer financial systems and software, including SAP accounting software, ERP systems, and reporting tools, to ensure accurate and efficient processing of financial transactions and reporting
* Ensure compliance with regulatory requirements and reporting obligations, including filing financial reports, disclosures, and other filings with regulatory authorities
* Identify opportunities for process improvements, automation, and efficiency enhancements in accounting and financial processes to optimize performance and enhance productivity

QUALIFICATIONS:
* Bachelor's degree in accounting, finance, business administration, or a related field
* Certified Public Accountant (CPA) preferred but not required
* Minimum of 3+ years of experience as an Accountant
* A strong understanding of accounting principles and practices is essential for an Accountant. This includes knowledge of financial statements, journal entries, reconciliations, and generally accepted accounting principles (GAAP) or International Financial Reporting Standards (IFRS)
* Proficiency in accounting software and enterprise resource planning (ERP) systems is typically required. Candidates should be comfortable using software such as QuickBooks, SAP, Oracle, or Microsoft Dynamics, as well as Microsoft Excel for data analysis and reporting
* The ability to analyze financial data, identify trends, and draw meaningful insights
* Should possess strong problem-solving skills to address issues that arise in financial reporting, reconciliations, or other accounting processes
* Must be able to communicate financial information clearly and concisely, both orally and in writing
* The ability to manage multiple tasks, meet deadlines and prioritize work effectively
* Has Integrity and ethical behavior to maintain the confidentiality, accuracy, and reliability of financial information
Job Type: Full-time
Location: Makati/Ortigas, NCR

HIRING: Procurement Officer

* Preferably with experience in handling and organizing events nationwide for clients - distributors, doctors and medical representatives
* Monitor all vendor agreements to find discounts that can be used to reduce invoice amounts
* evaluating suppliers, products, and services
* negotiating contracts, and ensuring that approved purchases are cost-efficient and of high quality.
* Preparing plans for the purchase of equipment, services, and supplies.
* Following and enforcing the company's procurement policies and procedures.
* Reviewing, comparing, analyzing, and approving products and services to be purchased.
* Managing inventories and maintaining accurate purchase and pricing records.
* Maintaining and updating supplier information such as qualifications, delivery times, product ranges, etc.
* Maintaining good supplier relations and negotiating contracts.
* Researching and evaluating prospective suppliers.
* Preparing budgets, cost analyses, and reports.
* Attention to details

Qualifications
* Degree in commerce, business management or a similar field preferred.
* 1+ years of experience as a procurement officer or in a similar position.
* Proficiency in Microsoft Office .
* Strong communication and negotiation skills.
* Good analytical and strategic thinking skills.
* Supervisory and management experience.

We are hiring General Accountant with SAP background and Procurement Officer. Message me or apply directly at Core Group Accounting Outsourcing Services, Inc. Thanks!

Invest where demand booms: Industrial market surges ahead, offices struggle to catch up The industrial sector of the Philippine property market is seen to maintain its momentum and outperform the office segment this year, according to property consultant Prime Philippines.

BIR 2316 forms submission deadline is EXTENDED!!

START THE YEAR 2024 RIGHT!

Year End Compliance & Renewal of business permits in Metro Manila, Makati, Mandaluyong, Taguig, Paranaque, Quezon City 📢📢

Another tax year had ended, and it is time again to conduct year-end adjustments, close the company’s books and to prepare for the next tax-filing season. The end of the year also triggers the preparation for our year-end withholding tax obligations namely the annualization of compensation of employees, and other compliance requirements such as registration of books of accounts and renewal of BIR and LGU registration. As tax rules become more complex each year, and as the BIR demands more accountability for company officers, tax preparation should be done with more caution and attention.

1) Registration of books of accounts
2) Local business permits and license renewal
3) Refund of excess taxes
4) Annualization of payroll wages and taxes
5) Inventory List
6) Tenant's profile
7) List of Regular Suppliers
8 ) BIR Annual Registration
9) Annual Tax Certificates

Please message us on Facebook or email us at [email protected] or [email protected]. We would be glad to assist you.

5% premium rate for PhilHealth contributions this 2024 ..

if you're earning Php20,000 monthly salary, PhilHealth deductions would be Php1,000 monthly.

For your guidance.

The Bangko Sentral ng Pilipinas (BSP) reminds the public to be vigilant against fake money. Check the authenticity of your banknotes when making or receiving payments.

Use the “Feel-Look-Tilt” method in inspecting the security features of banknotes.

The 1000-Piso Polymer Banknote has the following security features:

1. Feel
Polymer Substrate
Sampaguita Clear Window
Tactile Dots
Embossed Prints
Flying Eagle

2. Look
Sampaguita Clear Window
Serial Numbers
Shadow Thread
Vertical Clear Window
Metallic Features
Blue Iridescent Figure

3. Tilt
Enhanced Value Panel
Metallic Features
Blue Iridescent Figure

Click on the poster to know about the security features of our 1000-Piso polymer banknote.

Learn more about our 1000-Piso polymer banknote and visit: https://bit.ly/PolymerPH

*After accounting for inflation*

In October, inflation-adjusted wages were 15.3% to 22.8% lower than the current daily minimum wages across the regions in the country. In peso terms, real wages were lower by around P60.92 to P108.46 from the current daily minimum wages set by the Regional Tripartite Wages and Productivity Board.

BREAKING: The Philippine economy grew to 5.9 percent in the third quarter of 2023 vs 4.3 percent in the previous quarter, according to Philippine Statistics Authority.

The Philippines' main economic sectors such as agriculture, forestry, and fishing; industry; and services recorded increases of 0.9 percent, 5.5 percent, and 6.8 percent, respectively, the Philippine Statistics Authority (PSA) reported.

The sectors that have a large contribution to the increase in GDP on the expenditure side are the following:

a. Household final consumption expenditure, which contributed 3.7 percentage points;

b. Construction, which contributed 1.6 percentage points; and

c. Net exports of goods and services, which contributed 1.4 percentage points.

The Philippine economy is estimated to have grown by five percent in the third quarter, with the full-year expansion pegged at 5.8 percent, according to the latest issue of the Market Call.

Read it here: https://bilyonaryo.com/2023/10/26/philippine-economy-seen-to-have-grown-5-in-q3/business/

For compliance of registered corporations. Message us for assistance.

SEC Amnesty Applications extended

The Security and Exchange Commission (SEC) further extends the deadline for amnesty applications of non-compliant and suspended or revoked corporations who have not submitted or have belatedly filed their audited financial statements, general information sheets and required contact information.

With the publication of SEC Memorandum Circular No. 17, series of 2023, SEC has allowed the corporations to grab the opportunity for reduced fines and for the SEC to have more time to assess and evaluate the amnesty applications until November 06, 2023

SEC Amnesty Applications extended The Security and Exchange Commission (SEC) further extends the deadline for amnesty applications of non-compliant and suspended or revoked corporations who have not submitted or have belatedly filed their audited financial statements, general information sheets and required contact information.

Government greenlights P721 billion in tax incentives for 4 RBEs The Fiscal Incentives Review Board (FIRB) has approved 45 tax incentive applications submitted by registered business enterprises (RBEs), with a combined investment capital of P721.29 billion, according to the Department of Finance (DOF).

Holiday pay 💰🤑

DOLE releases pay rules for October, November holidays In the office during holidays this October and November? Make sure you’re properly compensated.

Stay safe and dry!

𝐌𝐄𝐌𝐎𝐑𝐀𝐍𝐃𝐔𝐌 𝐂𝐈𝐑𝐂𝐔𝐋𝐀𝐑 𝐍𝐎. 𝟐𝟓, 𝐬. 𝟐𝟎𝟐𝟑
Signed on 21 July 2023

𝐒𝐔𝐒𝐏𝐄𝐍𝐒𝐈𝐎𝐍 𝐎𝐅 𝐆𝐎𝐕𝐄𝐑𝐍𝐌𝐄𝐍𝐓 𝐎𝐅𝐅𝐈𝐂𝐄𝐒 𝐀𝐍𝐃 𝐂𝐋𝐀𝐒𝐒𝐄𝐒 𝐈𝐍 𝐏𝐔𝐁𝐋𝐈𝐂 𝐒𝐂𝐇𝐎𝐎𝐋𝐒 𝐀𝐓 𝐀𝐋𝐋 𝐋𝐄𝐕𝐄𝐋𝐒 𝐈𝐍 𝐓𝐇𝐄 𝐍𝐀𝐓𝐈𝐎𝐍𝐀𝐋 𝐂𝐀𝐏𝐈𝐓𝐀𝐋 𝐑𝐄𝐆𝐈𝐎𝐍 𝐎𝐍 𝟐𝟒 𝐉𝐔𝐋𝐘 𝟐𝟎𝟐𝟑 𝐃𝐔𝐄 𝐓𝐎 𝐓𝐘𝐏𝐇𝐎𝐎𝐍 “𝐄𝐆𝐀𝐘” 𝐀𝐍𝐃 𝐓𝐇𝐄 𝐒𝐂𝐇𝐄𝐃𝐔𝐋𝐄𝐃 𝟕𝟐-𝐇𝐎𝐔𝐑 𝐓𝐑𝐀𝐍𝐒𝐏𝐎𝐑𝐓 𝐒𝐓𝐑𝐈𝐊𝐄 𝐈𝐍 𝐌𝐄𝐓𝐑𝐎 𝐌𝐀𝐍𝐈𝐋𝐀

Visit the Official Gazette website: https://www.officialgazette.gov.ph/VXNE78

Manufacturing and IT take the lead: PEZA OKs P33 billion ecozone projects The Philippine Economic Zone Authority (PEZA) has approved eight ecozone development projects valued at a total of P33 billion in the first half of the year.

Starting July 1, big banks, specifically universal and commercial banks, will no longer be allowed to utilize loans as an alternative means of complying with the reserve requirements as the BSP begins to unwind the temporary relief measure implemented in 2020.

Read it here:
https://bilyonaryo.com/2023/06/28/bsp-ends-use-of-loans-as-reserve-requirement-compliance-for-big-banks-focus-shifts-to-rr-reduction/money/

World Bank upgrades Philippine growth outlook to 6% The World Bank has improved its outlook for the Philippine economy this year as it projects growth of six percent, citing robust domestic demand as a key driver of expansion.

The Philippine government’s debt payments surged to P423.55 billion in the first two months of 2023, marking a 72% increase due to higher principal payments made during the period.

Read it here: https://bilyonaryo.com/2023/04/30/philippine-governments-debt-payments-soar-72-in-first-two-months-of-2023/money/

ITR Deadline for non-individuals

Happy Easter! 🙏💙

Sim registration deadline 🔉

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