BVR & ASSOCIATES

BVR Accounting Firm
Your Business solutions....

BVR Accounting Firm is an accounting and consulting firm that focuses on helping Micro, Small and Medium Enterprises (MSMEs), the start-up communities, and multinational companies and/or foreign investors who wanted to do business in the Philippines. We provide steadfast corporate services such as but not limited to business registration and accreditation, accounting and bookkeeping, tax compliance and consulting, human resources consulting, payroll processing, advisory services and IT solutions implementation.

We are an “End-to-End Business Solutions Firm” comprised of Certified Public Accountants (CPA), Computer Engineers, Mechanical Engineers, MBA, JD, Consultants and other professionals with expertise in the areas of accounting, audit, taxation, consulting, outsourcing and business advisory.

Furthermore, We are Professionals committed to provide strategic and value-adding consulting and outsourcing services resulting to sensible business solutions.

Services

BUSINESS SETUP: We take the burden of preparing the documents, queuing in lines, filling out forms, and other activities that will take you away from your core business. We provide services for the establishment of your business

TAX SERVICES: Protects your business from exposures we provide: tax review, tax preparation, and compliance.

ADVISORY SERVICES: Get the most out on your business we provide: advisory services that make you focus on your business operations.

Accounting/Bookkeeping: We keep your record from licensing to administrative and legal task for you to focus on growing your business.

COLLECTION OF DEBT: We help you to collect due, past due and written-off debts extra judicially.

Accounts Payable: We help you to pay all bills and to timely pay all dues and obligations on time.

AUDIT: Be assured with your financial information we provide: audit and review on your financial statements.

Training and Seminars: We provide quality business seminars which would enhance skills and contribute to entrepreneurial or career success. Our seminars are committed to keep abreast with the latest advances in the business, and focused on the strategic aspects of how to build and maintain a viable and profitable business.

BACK OFFICE SUPPORT SERVICES: Claims processing, accounting/billing, payroll outsourcing, data capture, encoding, data entry and virtual staffing.

Identify your Outsourceable Tasks to us:

Accounting & Bookkeeping Tasks

Reconciling bank transactions across multiple companies
Managing general ledger balances
Preparing and analysing the balance sheet
Keeping track of all payments and expenditures, including payroll, purchase orders, invoices, statements, etc.
Reconciling processed work by verifying entries and comparing system reports to balances
Maintaining historical records
Paying employees by verifying expense reports and preparing pay checks
Paying vendors by scheduling pay checks and ensuring payment is received for outstanding credit
Responding to vendor enquiries regarding invoices
Preparing analyses of accounts and producing monthly reports
Continuously improving the payment process
Maintaining the billing system
Generating invoices and account statements
Performing account reconciliations
Maintaining accounts receivable files and records
Producing monthly financial and management reports
Investigating and resolving any irregularities or enquiries
Assisting in general financial management and analysis
Monthly reconciliations for debtor/creditor accounts
Processing up to Trial Balance stage and preparing financial statements for lodgement with the tax office
Preparing monthly/quarterly management reports
Preparing superannuation and income projections
Completing and posting of daily timesheets
Preparing asset, liability, revenue, and expenses entries by compiling and analysing account information
Maintaining and balancing subsidiary accounts by verifying, allocating, posting, reconciling transactions and resolving discrepancies
Maintaining general ledger by transferring subsidiary accounts, preparing trial balances and reconciling entries
Producing payroll by initiating computer processing; printing checks, verifying finished product.
Completing external audit by analysing and scheduling general ledger accounts; providing information for auditor
Conducting research, analysis, development, and summation of financial information for audit purposes and financial reporting
Performing the financial administration and reporting of
Federal and State grants
Preparing the statutory financial accounts and regulatory returns for self-managed superannuation funds
Reconciling asset holdings and processing of corporate actions
Preparing minimum and maximum pension calculations
Manually matching any remaining transactions and creating rules for recurring transactions

Reconciling GST that has gone through an SMSF with what’s been paid to the tax office

Preparing private, trust, partnership and company tax returns
Devising tax strategies to defer or mitigate tax payments
Completing required tax reporting in a timely manner
Preparing and updating tax provision schedules
Detecting and correcting process errors that caused incorrect tax filings
Negotiating with tax authorities over tax payment plans or payment issues

Financial Planning Tasks

Preparing insurance and superannuation application forms
Preparing client review documentation for adviser perusal
Prepare superannuation fund comparison reports
Conducting research for appropriate providers and investments
Preparing investment reports for review meetings
Preparing ROAs (Record of Advice) for advisers to review
Preparing limited SOAs (Statements of Advice)
Preparing complex SOA (Statements of Advice)
Entering dicated file notes into CRM.
Performing financial modelling
Preparing advice maps and reports
Reconstructing share cost base history
Updating financial planning templates
Entering fact find information into CRM system

Mortgage Broking Tasks

Completing and filing compliance documentation for each loan application
Preparing credit proposal disclosure documents
Preparing first appointment pack for client interview including credit guide
Populating online loan application forms
Compiling and validating documentation to support online application lodgement
Tracking all loan applications, valuations, issuing and return of loan
Ordering valuations as required during the loan process
Preparing loan comparison reports for client reviews
Overseeing loan settlements with banks, clients and real estate Agents
Maintaining notes within the CRM during the loan assessment process
Preparing loan application documents for client signing
Electronically filing all documentation associated with settled loan applications
Matching settlements with commissions paid by the aggregator

Support and Administration Tasks

Preparing minutes and resolutions
Setting up new companies and trusts
Applying for new entity ABNs
Collecting missing information from clients
Sorting incoming scanned mail and saving to correct client files
Creating tax office correspondence cover letters
Updating client database with new client information
Completing and posting daily timesheets
Optimising and updating workflows
Managing and updating ASIC and other federal databases
Updating the ATO portal
Generating reports for managers and partners as required
Managing contact lists and customer spreadsheets
Manages partner, manager and director diaries as per their ideal weeks
Organising travel arrangements
Managing the email inboxes of partners and managers
Preparing and sending email newsletters
Preparing engagement letters
Manages the client on boarding process
Publishing social media updates

Recent News and Updates

BIR RR 8-2018 -TRAIN INCOME TAX GUIDELINES

Where to register your business?

RR NO. 3-2015 - increased of exclusions from gross income of 13th month pay and other benefits received by employee from Php30,000.00 to Php82,000.00

Deadline for submission of income tax for year 2015 is on April 15, 2016.

Shopify allows designers and developers to build beautiful ecommerce solutions for business owners around the world. The Shopify Web Design and Development Blog features several articles that teach you how to work with our platform. From tutorials showcasing how to work with our API to advanced Liquid techniques, our blog has everything you need to start building amazing things with Shopify.

Step 1. Pick a template Browse the Shopify Theme Store and choose a template that you like.
Step 2. CustomizeUse the Theme Settings page to change the logo, fonts, colors, and other settings.
Step 3. LaunchWhen your store looks exactly like you want it, launch it to the world!

Taxes you need to know....

Tax Reform for Acceleration and Inclusion (TRAIN) - Republic Act No. 10963

Rates of Tax on Taxable Income of Individuals - The tax shall be computed in accordance with and at the rates established in the following schedule:

Tax Schedule Effective January 1, 2018 until December 31, 2022

Not over 250,000.00 = 0%
Over 250,000.00 but not over 400,000.00 = 20% of the excess over 250,000.00
Over 400,000.00 but not over 800,000.00 = 30,000.00 + 30% of the excess over 400,000.00
Over 800,000.00 but not over 2,000,000.00 = 130,000.00 + 30% of the excess over 800,000.00
Over 2,000,000.00 but not over 8,000,000.00 = 490,000.00 + 32% of the excess over 2,000,000.00
Over 8,000,000.00 = 2,410,000.00 + 35% of the excess over 8,00,000.00

Tax Schedule Effective January 1, 2023 and onwards:

Not over 250,000.00 = 0%
Over 250,000.00 but not over 400,000.00 = 15% of the excess over 250,000.00
Over 400,000.00 but not over 800,000.00 = 22,500.00 + 20% of the excess over 400,000.00
Over 800,000.00 but not over 2,000,000.00 = 102,500.00 + 25% of the excess over 800,000.00
Over 2,000,000.00 but not over 8,000,000.00 = 402,500.00 + 30% of the excess over 2,000,000.00
Over 8,000,000.00 = 2,202,500.00 + 35% of the excess over 8,00,000.00

For married individuals, the husband and wife, subject to the provision of Section 51(D) hereof, shall compute separately their individual income tax based on their respective total taxable income: Provided, That if any income cannot be definitely attributed to or identified as income exclusively earned or realized by either of the spouses, the same shall be divided equally between the spouses for the purpose of determining their respective taxable income.

Provided, that minimum wage earners as defined in Section 22(HH) of this code shall be exempt from the payment of income tax on their taxable income: Provided, further, That the holiday pay, overtime pay, night shift differential pay and hazard pay received by such minimum wage earners shall likewise be exempt from income tax.

Source: Republic Act No. 10963 - Republic of the Philipppines, Congress of the Philipppines, Metro Manila, Seventeenth Congress, Second Regular Session.