Philippines Bookkeeping Services

All businesses registered in the Philippines must comply with the Philippines Bureau of Internal Revenue bookkeeping regulations. These regulations apply to corporations, branch offices, representative offices, ROHQ, RHQ and partnerships.

Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business. Information extracted from the bookkeeping will be used to evaluate a company’s financial position.

Dayanan can assure your business financial reports are accurate, reliable and clear by providing the following bookkeeping/accounting services done by our registered certified public accountants. We offer the following services:

Dayanan Bookkeeping Services

Accounting and Bookkeeping

We carry out a complete and accurate record keeping of your business transactions.  We use accounting software for efficient bookkeeping processing to maintain correct and up-to-date financial records. We ensure that our recording process is in compliance with the latest financial accounting standards.

Our services include the following:

  • Chart of Account Set-up and Management
  • Set-up of Accounting System and General Bookkeeping Set-up
  • Accounts Payable Processing (Voucher System)
  • Accounts Receivable Management
  • Fixed Assets Management
  • Expense Report Processing
  • Bank Reconciliation
  • Payroll Services

Management Accounting

Our management accounting services give your Company a deeper understanding of your internal business operations, these reports allow your Company’s board of directors to make profitable financial decisions.

Our CPAs can prepare the following reports:

  • Profit and Loss vs. Budget Comparison
  • Cash Forecast and budgeting
  • Revenue Projections
  • Preparation of other Management Reports as required

Financial Controlling

Outsource your financial controlling to Dayanan Business Consultants, a more cost – effective solution than hiring an internal finance and Accounting Team.  Services include:

  • Internal Control Set-up
  • Accounting and Financial Policy Set-up
  • Set-up of Receivable and Payable Procedures and Policies
  • Analysis of Financial Reports

Financial Analysis

An important tool in your management’s decision making is the evaluation by our CPAs of your company Financial Information.

Some of the financial analysis services, your company can outsource are:

  • Profitability Analysis
  • Review of Sales Contracts and other contracts for impact on accounting policies
  • Product Cost Calculations

Statutory Reporting and Compliance

Dayanan will ensure that your Company complies with Philippine Accounting and Reporting Standards, Bureau of Internal Revenue Regulation and filings with all government agencies.

  • SEC Reporting
  • Period – End Reporting (Quarterly, Annually etc.)
  • BIR Mandatory Reports (Monthly, Quarterly and Annual Reports)

Submission of the following reports

  • Expanded Withholding Taxes (BIR Form 1601-E)
  • Final Withholding tax Returns (1601 – F)
  • Value Added Tax Returns (2550M and 2550Q)
  • Income Tax Returns (1702Q)
  • Compensation Withholding Taxes (1691-C)
  • Certificate of Creditable Withholding Taxes (2307)
  • PEZA Reporting compliance

Transfer Pricing

The Bureau of Internal Revenue (BIR) is now enforcing compliance with Transfer Pricing Regulations. All foreign owned companies in the Philippines must present to the BIR upon request, a Transfer Pricing Analysis Study to justify their income from their parent company, subsidiaries and affiliates.

Dayanan can prepare a complete Transfer Pricing Analysis encompassing:

  • Transfer Pricing System Design
  • Year End Adjustment
  • Risk Management
  • Transfer Pricing Control Framework
  • Benchmarking
  • PRO Industry Solution

Audit Support Solutions

  • Outsourcing of Auditors that meets your Company’s requirements
  • Assist in your audit preparation of your financial reports
  • Special Audit Services (fraud audit, internal control compliance etc.)

We are your hands-on partner and advisor, it’s our duty to provide services with the highest standards of professionalism and integrity. Contact us for an evaluation of your bookkeeping and accounting requirements.