Accounting Archives | CloudCfo

Accounting

May 17, 2021

4 mins read

Accounting for Small Businesses in the Philippines: 5 Key Considerations

Over 99% of registered businesses in the Philippines are small and medium sized businesses, employing over 60% of the working population!

So we have outlined 5 key accounting items that small business owners must consider, particularly if their objective is to grow the business in the future!

February 24, 2021

4 mins read

Loose-Leaf Books of Accounts: Everything You Need To Know

Loose-Leaf Books of Accounts can be a more efficient way of managing your company’s finances here in the Philippines!

In this article, we explain how and why!

December 28, 2020

4 mins read

BIR Form 1709 – New Developments For Related-Party Transactions And Transfer Pricing In The Philippines

The BIR has released new requirements, rules and procedures for submitting BIR Form 1709 – Related-Party Transactions and Transfer Pricing in PH! These rules clarify the categories of taxpayer required to file BIR Form 1709 and the materiality thresholds for supporting documents.

Check out our Explainer here!

October 9, 2020

4 mins read

Cloud Accounting Solutions v Cloud Accounting Services in the Philippines – Explained!

For startups and SMEs in the Philippines, we explain the differences between subscribing to a cloud accounting solution and outsourcing to a provider of online accounting and bookkeeping services.

September 17, 2020

4 mins read

Related-Party Transactions in the Philippines – New BIR Requirements!

The BIR recently released new compliance requirements for Related-Party Transactions. This has implications for accounting, bookkeeping, compliance and financial reporting in the Philippines.

This article explains all you need to know!

July 16, 2020

4 mins read

Online Accounting, Bookkeeping and Finance in the Philippines: What does “online” actually mean?

What does “online” accounting, bookkeeping and finance actually mean for businesses in the Philippines? How does it work? What does it involve?

In this article, we explain all!

March 24, 2020

5 mins read

Align Your Chart of Accounts with Your Business Model

What exactly is the Chart of Accounts? What is its purpose? Is it the same for every business? Why is it important to align the Chart of Accounts with your business model?

We explain all in this article!

January 31, 2020

4 mins read

2020 Audit Season in the Philippines – Fail to Prepare, Prepare to Fail

Audit season is well and truly upon us here in the Philippines!

We don’t want the next few weeks to be any harder than they have to be. So here’s a few items to consider when preparing for audit season in the Philippines!

January 17, 2021

4 mins read

Xero vs Quickbooks Online: Which is better in 2021?

We explain the benefits of using Quickbooks Online and Xero and what you should look for when considering a subscription for either solution.