In reality, accounting is everywhere in a business—even if you don’t notice it. Every time you: —you are already using accounting. From my perspective: In Operations Accounting tracks daily activities. In Compliance It ensures proper reporting to the Bureau of Internal Revenue In Decision-Making It helps answer: As both an accounting manager and CPA, I…
Upon the Effectivity of these Revenue Regulations. INVOICE will be the primary documents for both Trading and Service type of businesses. As Illustrated above: 1.) There’s no effect on Trading businesses on the invoicing requirements. Sales Invoice as primary documents and collection receipt as secondary documents. 2.) On Service businesses, Official Receipts are no longer…
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