Explaining The Philippine Tax Amnesty Act of 2019

The Philippine Tax Amnesty Act of 2019, also known as the Republic Act 11213 (RA 11213), allows taxpayers to avail the benefits of the Estate Tax Amnesty law. The Philippine President Rodrigo Duterte signed the act on February 14, 2019, and it already started effect on June 15, 2019.   On May 30, 2019, the released Revenue Regulations 6-2019 (RR 6-2019) that states the act will “provide the taxpayers a one-time opportunity to settle estate tax obligations through an estate…

How to Streamline Your Bookkeeping for Efficiency

Bookkeeping is both important and time-consuming. For small business owners, entering expenses on books takes so much of their time and focus that should be allocated to other pressing business matters. Unfortunately, bookkeeping is an integral part of a business. It helps in monitoring expenses as well as serves as a record when it’s time to pay taxes. One wrong declaration of costs can already lead to fees and legal trouble. So, what should be done to avoid errors in…

JCSN Accounting Recognized by Xero as Bronze Partner

June 7, 2019 Paranaque City, Metro Manila – JCSN Accounting Services has been recognized by Xero as a certified Bronze Partner. Xero is a public software company that offers a cloud-based accounting software platform for small and medium-sized businesses. Xero is among the top accounting and bookkeeping software by businesses across New Zealand, Australia, the United Kingdom, the United States, Canada, Asia, Africa and the Philippines. The Xero Partner program is a certification and recognition that commends accounting firms for…

Common Accounting Mistakes and How to Avoid Them Completely

As business owners, there are many things you can’t control. Although that’s the case, there are also things you need to take control of, and one of those things is accounting. Accounting mistakes, whether small, big, or accumulated, can destroy your business from the inside. A simple miscomputation can be detrimental for the business. Accounting mistakes can happen to any business or entrepreneur. Check out this list of common accounting mistakes and how to avoid them completely.   Personal and…

Starting a Startup in the Philippines: Financial Management Tips

Working on opening a startup is different from changing careers. Its difference with traditional businesses is that startups are technology oriented with high growth potential. It’s more of a journey that will force you to become better and learn how to manage your finances for you work alone or with a small team to make the business grow. Due to the startup’s nature of scaling at a fast pace, you need to get in control of the cash flow from…

How Small Businesses Can Effectively Manage their Finances

Did you know that every company has something in common? That’s right, they have tasks concerning money. Whether from a startup or a long-running conglomerate, they manage their own finances or hire an expert to get it done. Looking at financial management, knowing how to properly perform such task can tremendously help a business survive in the industry it’s in. Small business should take note of that. However, not everyone is gifted with the patience, skill, and perseverance in crunching…

How Filipino SMEs and Startups Can Streamline Their Financial Book Management

As a Filipino business owner of either an SME or startup, it’s common to see that financial book management is a chore, tedious, and a pain. But, to be frank, it’s actually extremely important. Not only does it make tax time easier, recording your transactions make it easier to look back and track your financial activities. Managing your business’ financial books is an obligation, and here are tips on how you can streamline your financial book management.   Avoid Procrastination…

Accounting Tips that Filipino Small Businesses Should Know

There are no shortcuts when it comes to accounting. The numbers are there and it’s important to take notice of that no matter what size of business you are in or have. It may be tempting to give the least attention to your accounting and bookkeeping tasks, but even the slightest error can seriously damage your business. Both are essential if you want your local business to grow. So, make sure to pay attention to your accounting and bookkeeping needs.…

What is TRAIN BILL for Professionals?

Over a year into President Rodrigo Duterte’s administration, the plans for Dutertenomics’ Build, Build, Build infrastructure program has finally commenced. The socioeconomic agenda, which features a promising vision of yielding robust growth across the Philippines, however, needs appropriate funds in order to be successful. To address this, President Duterte has signed into law the Tax Reform for Acceleration and Inclusion (TRAIN) bill, which is visualized to generate P130 million in revenues. Set to be implemented this January 2018, the TRAIN…