Loose leaf updating service

12-Apr-2019 08:32

Legal loose-leaf publishing has been around at least since 1915.

These early loose-leaf services allowed legal publishers to produce up-to-date consolidations of legislation without having to reprint an entire book every time changes were made to the legislation.

Some companies uses simple Quickbooks for their bookkeeping and just export their reports in Microsoft Excel. Application for Authority to Use Loose-Leaf Books of Accounts (BIR Form No. Photocopy of BIR Certificate of Registration (BIR Form No. Photocopy of Previously Issued Permit to Use (PTU) Loose-Leaf, if applicable. Photocopy of Current Registration Fee (BIR Form No. After your application is approved, you will received Permit to Use (PTU) Loose-Leaf Books of Accounts. All your books of accounts and other accounting records as well as the loose-leaf forms authorized to be used herein should be preserved intact, unaltered and unmutilated for a period of not less than ten (10) years.

Loose-Leaf Books of Accounts is done by recording and printing your business transaction using spreadsheet like Microsoft Excel. Identifying the books to be used, invoices/receipts and other accounting records together with the serial numbers of principal and supplementary invoices/receipts to be printed. Commitment to permanently bind the loose-leaf forms within fifteen (15) days after the end of each taxable year or upon the termination of its use. Special Power of Attorney, in case the business owner will not apply personally. If you don’t submit your loose-leaf books of accounts on time, you will be penalized P1,000 per book.

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It will also allow us to gauge our subscribers' interest in receiving the updates in an electronic medium such as CD-ROM or via the Internet.

What will you submit to the BIR within 15 days after the end of each taxable year? Sworn Statement to Use Loose-Leaf Books of Accounts specifying the following: a. Affidavit attesting the completeness, accuracy and correctness of entries in Books of Accounts and the number of Loose Leaf used for period covered.

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