Arys Accounting System

Here is something small and medium enterprises (SMEs) can check for their accounting software needs.

The Arys Accounting Software is a multi-user and multi-department accounting system, with check printing, cash and check vouchers, accounts receivables and payables modules, cash advance, bank reconciliation, chart of accounts, general ledger, subsidiary ledgers, income statement, and balance sheet, among others.

The software was developed for big corporations but now available off-the-shelf for SMEs from Systems and Websites. It is competitively priced and GEL Accounting Solutions & Consultancy, as agent, can give a huge discount depending on the size of the company, income, volume of transactions, and no. of employees.

For inquiries, contact GEL Accounting at 09067668232, 09322170806, 5697763, or email lumantao@gmail.com.

PICPA Metro Manila Region seminars for April 2011

April 20

TAX SEMINARS: Handling BIR Ruling Requests, Audits, Assessments, TCC Applications, Special Incentives Laws (BOI, BCDA and Cooperative Law, etc.)

Registration Fee: 1,500 / member

P 1.800 / non-member

Time: 8 am - 5 pm

Venue: Makati Sports Club L.P. Leviste St., Salcedo Village Makati City

April 25

Code of Ethics & Good Governance

Registration Fee: 1,500 / member

P 1,800 / non-member

Time: 8 am - 5 pm

Venue: 3/F PICPA National Training Room, 700 Shaw Blvd., Mandaluyong City

April 25-26

Quality Control for Small and Medium Enterprise

Resource Speaker: Mr. Mark Benedict Guia

Registration Fee: 3,000 / member

P 3,600 / non-member

Time: 8 am - 5 pm

Venue: 3/F PICPA National Training Room, 700 Shaw Blvd., Mandaluyong City

April 26

PFRS vs Tax Rules

Registration Fee: 1,500 / member

P 1,800 / non-member

Time: 8 am - 5 pm

Venue: 3/F PICPA National Training Room, 700 Shaw Blvd., Mandaluyong City

April 27-28

Fraud, Prevention, Detection & Control

Resource Speaker: Dr. Rosalinda D. Evangelista

Registration Fee: 3,000 / member

P 3,600 / non-member

Time: 8 am - 5 pm

Venue: 3/F PICPA National Training Room, 700 Shaw Blvd., Mandaluyong City

April 27-28

Philippine Standards on Auditing

Resource Speaker: Mr. Rhamir Dalioan

Registration Fee: 3,000 / member

P 3,600 / non-member

Time: 8 am - 5 pm

Venue: 3/F PICPA National Training Room, 700 Shaw Blvd., Mandaluyong City

April 29

Comprehensive Corporate Taxation & Comprehensive VAT Taxation

Resource Speaker: Dr. Ruperto Somera

Registration Fee: 1,500 / member

P 1,800 / non-member

Time: 8 am - 5 pm

Venue: 3/F PICPA National Training Room, 700 Shaw Blvd., Mandaluyong City

April 29

Accreditation Requirements: The 2008 Code of Ethics & Corporate Governance

Resource Speaker: Atty. Eranio L. Punsalan

Registration Fee: 1,500 / member

P 1,800 / non-member

Time: 8 am - 5 pm

Venue: Makati Sports Club L.P. Leviste St., Salcedo Village Makati City

April 30

NMMC General Membership Meeting

Registration Fee: 500 / NMMC member

P 600 / non-PICPA member

Time: 8 am - 5 pm

Venue: Max's Restaurant 10th Avenue, West Grace Park, Caloocan City

Setting up of an accounting system

One of the pitfalls of a new business is the inability to set up a good accounting system. Many times we see startups whose initial success gets to waste because of the failure of the owner/managers to set up even the most rudimentary internal control, to adopt proper procedures in documenting transactions, and to manage resources properly. Most of the time, they rely on trust and gut feel, often leading to business failure.

One way is to adopt a manual of accounting procedures. In general, it defines the responsibilities of the managers/personnel of the company in relation to managing of the company's resources, lay outs the procedure in authorizing, undertaking, and documenting financial transactions, and mandates the establishment and adherence to internal controls. In our experience, it clears a lot ambiguities that comes with a new venture.

The GEL Accounting Solutions & Consultancy provides assistance in setting up accounting systems in small and medium size enterprises. It includes the provision of a simple accounting manual procedures, sample of forms that may be used, and an orientation to managers and personnel on the procedures. For inquiries, feel free to contact us through the contact information available at our website.

Cooperative External Auditors' Accreditation Seminar

The Philippine Institute of Certified Public Accountants (PICPA) will be conducting a Cooperative External Auditors' Accreditation Seminar on January 27-29, 2011, 8:00 am to 5:00 pm, at the Training Room, PICPA Building, Mandaluyong City. Lecturers will be from the Cooperative Development Authority (CDA).

For more information, check out this flyer from PICPA.

The Certified Accounting Technician (CAT) - National Institute of Accounting Technicians (NIAT)

The CAT® Program is a globally recognized program of the National Institute of Accounting Technicians (NIAT) that grants the CAT® designation to the successful professional here and abroad.

The CAT® Program focuses on developing a strong base of technical accounting knowledge and skills; analytical, organizational and inter-personal skills; and professional values essential for today’s successful accounting professionals.

The CAT® Program is designed to be an intensive bookkeeping program that will equip the participant all the necessary skills for real life accounting work. The CAT® Program is recognized to be equivalent to the CAT® designations of different institutes in the world, giving NIAT CAT®s access to memberships and recognition in countries such as Canada, United Kingdom, Australia, New Zealand, Europe, Hong Kong, China, Singapore, Malaysia, India and the Middle East.

Benefits

• Offer your employer proven specific skills and knowledge.
• Advance your career and increase your compensation potential.
• Put "CAT" after your name, giving you the same distinction among bookkeepers that "CPA" gives to Certified Public Accountants.
• Enhance your value to your company and clients.
• Increase your value to your company or clients — Certified Accounting Technicians can and do take on new responsibilities.
• Increase your chances of working overseas where CAT is recognized such as Australia, New Zealand, United Kingdom and other Asia Pacific countries.

CAT Level 1 Program Syllabus

The CAT Level 1 program is designed to nurture the learning process and provide you with well presented and structured course. The qualification itself has been split into Four modules for ease of learning. Each module contains set of drills and real-life cases for you to assess how well you are progressing.The Program is also accreditted by the Institute of Certified Bookkeepers in UK; which all CAT Level 1 passers are also eligible to become Certified Bookkeepers of UK.

Module 1: Review of Bookkeeping Skills

Module 2: Completing the Accounting Cycle

Module 3: Constructive Accounting

Module 4: Special Journals

Join the 12^th Certified Accounting Technician - Level 1
Bookkeeping
September 4 -25, 2010
Click here to INQUIRE now!

How to Handle BIR Audit and Common Business Tax Issues Training

Tired of handling BIR Audit? Get to know the techniques on handling BIR Audit. Come and learn! Be confident and put out the fear.

BIR AUDIT

· Why you receive LN (Letter of Notice) or LOA (Letter of Authority)

· Assessment Stages

· Protesting an Assessment

· Knowing your Penalties

· Obligations & Privileges of a taxpayer under Audit

· Tactics or Techniques

COMMON BUSINESS TAX ISSUES

· Common Issues - (allowable deductions, NOLCO applications, quarterly MCIT, deferred taxes, timing of recognition)

· Witholding Tax - EWT, WTC AND FWT common issues (time of withholding, basis for withholding, common expenses subject to withholding, taxable and non-taxable compensation)

· Documentary Stamp Tax - common transaction subject to DST

· Capital Gains Tax - difference between ordinary and capital gains tax.

· VAT Common Issues - invoicing requirements

VENUE: Unit 1904 19th Floor Philippine Stock Exchage Centre, Ortigas Pasig City

DATE: July 30, 2010 8:30-5:30

*Training date & venue subject to change*

For more information contact us: Tel: 6876649 loc 117; Fax: 6876795.

Look for Ms. Anne Figurasin

Sison Corillo Parone & Co.

PhilCPA on Twitter

As part of our continuing effort to employ technology to provide excellent accounting and tax advisory services, GEL Accounting Solutions & Consultancy has just launched PhilCPA as its official Twitter account.

PhilCPA will be twitting on upcoming tax deadlines, accounting and tax seminars, news and articles on accounting and taxation especially in the Philippines, and many others.

The twits are meant to help both businessmen and accountants alike. If you are a businessman, PhilCPA will advise you several days in advance of upcoming tax deadlines.

On the other hand, if you are an accountant or accounting employee, you will get a steady stream of information on accounting and tax trainings and seminars, as well as various news and articles on accounting and taxation.

We invite you to follow PhilCPA and allow us to serve you better.

How to install multi-user Quickbooks

I have been busy lately attending to a client who engaged me assist them in the installation of Quickbooks Pro 2009 3-User Edition.

The software is designed to be installed on a local area network where multiple users are able to access the same company file simultaneously. Installing it will actually require some basic knowledge in networking.

I learned a lot during this engagement. One thing I learned is that installing Quickbooks is quite straight-forward, especially if you took time in reading the installation guides available.

Incidentally, I prepared a list of all the steps in installing Quickbooks and would like to share it with you. It is a work in progress but I believe it will help anyone doing the installation feel his or her way.

Click here to read my Quickbooks step-by-step installation guide. You may also check out the link provided there to a very useful Quickbooks screenshot guide. For more information about the services I offer, check out my website at www.lumantao.com.

Accounting Trainings and Seminars in the Philippines

One of the foremost skills that an entrepreneur will have to learn is accounting. Even if you have personnel doing the bookkeeping of your business, or if you have hired an accountant to do it for you, it is mandatory that you understand the fundamentals of accounting and taxation.

For, if your objective is to earn profit, it follows that you need to be able to monitor and measure your income and expenses to achieve your objective. The good news is, there are a lot of institutions offering such types of trainings and seminars.

First, check out the website of the Philippine Institute of Certified Public Accountants (PICPA). Although they offer mainly for the continuing professional education of CPAs, they do offer seminars like tax updates once in a while.

Second, the website of PICPA Metro Manila Region Chapter actually provides more options. Aside from their accounting CPE seminars, they also offer seminars like accounting for non-accountants, financial statement analysis, tax updates, and others. So, don't forget to check PICPA MMR's schedule for the month.

Third, if you are interested in getting certification of your accounting skills, you might want to check out the website of the National Institute of Accounting Technicians (NIAT). They have a Certified Bookkeeper Program and a Certified Accounting Technician Program which are recognized in countries like the United Kingdom, Canada and Australia.

Last but not the least, the Entrepreneurs Accounting Academy offers a range of courses, seminars and trainings designed to equip entrepreneurs with the necessary skills. EAA's courses include bookkeeping, advance bookkeeping, payroll management, micro, small and medium enterprises finance and management.

EAA's seminars and trainings include accounting 101 for employees and managers, accounting for non-accountants, auditing tools and techniques, advanced cost accounting, budgeting and forecasting, cash flow management, compensation and benefits, costing and pricing, payroll management, financial analysis tools and techniques, inventory and warehouse management, etc.

By the way, for your accounting services, consultancy and tutorial needs, you may contact our company, the GEL Accounting Solutions & Consultancy.

Five reasons why you need an accounting software

There are probably hundreds of accounting software available in the market today, with majority downloadable from the internet either for a fee or for free.

They vary in terms of features and functions, not to mention price. In general, however, most accounting software have common features that bring great benefits to a business, especially small ones.

One, accounting software automates the preparation of documents like invoices, billing statements, receipts, purchase orders, disbursement vouchers, checks, among others.

In the preparation of these documents, many information that needs to be inputted can be derived from already set up customers, vendors, and inventory lists. Also, documents like invoices can be converted to other types of documents like receipts, as transactions progress, without having to input the same data again.

Second, accounting software does away with the individual preparation of journal entries and the posting of the entries to the general ledger for routine business transactions like sales, whether cash or credit, purchases and payment of expenses.

Once documents like invoices, receipts, purchase orders, disbursement vouchers, and checks are prepared, the appropriate accounts are automatically debited or credited in order to reflect their new balances.

Third, through an accounting software, reports like trial balances, income statements, balance sheets, and cash flow statements, can be prepared in good form by just a few clicks of the mouse and at any day or time.

In addition, sales reports, aging of accounts, bank reconciliation, among others, can also be prepared by making a few clicks of the mouse. This allows you to make maximum use of accounting information in making day to day business decisions.

Fourth, because of the above, accounting software drastically reduces the working hours spent by your accounting personnel in doing the above stated tasks. As a result, you are also able to either reduce labor costs, or make use of excess working hours or personnel to do more productive work like planning, sales generation, or business expansion.

Fifth, accounting software professionalizes your business and prepares you to adapt to the fast changing world of technology and globalization. It makes small businesses ready to become the next big company in town.

Without it, even with great revenues, your business will always be "small" and no different to a sari-sari store where recordings are done manually, or even not at all.

For inquiries about free or affordable accounting software, please contact GEL Accounting Solutions & Consultancy. We will be glad to provide you whatever information you need.

New business address

In order to serve our clients better, the GEL Accounting Solutions & Consultancy has taken on a new business address. Our company may now be reached at Makati Corporate Office, 28th Floor Cityland Pasong Tamo Tower U2807, 2210 Chino Roces Avenue, Makati City, Philippines 1230.

Our new telephone nos. are 8938909 and 7749286, and our fascimile no. is 8938909 ext. 802. We will still receive emails through lumantao@gmail.com but you may now also email us at accountant@lumantao.com.

For clients who are online, you may also reach us through Yahoo Messenger and Skype using the ID/username "gelumantao". For more information, visit our company website at http://www.lumantao.com/.

We continue to abide by our philosophy of making maximum use technology to provide excellent accounting service to small and medium enterprises. We hope that, in the end, this will set us apart from the rest.

GEL Accounting Solutions & Consultancy

I am launching today a new website for my accounting practice and consultancy. My services will be geared towards small and medium enterprises, or SMEs, as well as online or internet ventures.

As I said in the website, unlike large companies which have huge accounting departments with ready access to established accounting and auditing firms, SMEs usually make do with the crudest record-keeping by its owners and managers as source of financial information.

My personal vision is a more level playing field. I believe no business is too small to benefit from a properly set up and efficiently working accounting systems. Along this line, I will provide a range of accounting services to SMEs which I hope will allow them compete in this age of technology and globlization. Please take time to visit www.lumantao.com for more information.

Free Accounting for Non-Accountants ebook

Accounting is really easy. It is not rocket science. In fact, your regular accountant may be, as the popular tv game would say, not as smart at your regular fifth grader.

If you don't believe me, ask him on the spot what's the sum of 21 and 18. Or any other pair of 2-digit numbers at that. Chances are he will still punch the thing on his calculator before giving an answer.

Joking aside, accounting is really based on the very simple equation of "assets equals liabilities plus owners' equity". The methods used are just means of ensuring the integrity of this equation.

I have written about this before and would like to share my thoughts with you in this free ebook entitled "Accounting for Non-Accountants: A five minute Accounting appreciation course".

To download, just click on the link above. Feel free to reproduce or redistribute it, provided you keep its contents unaltered, and provided you do not do it for profit. If you have any accounting concerns, kindly visit us at www.lumantao.com.

Accounting services for SMEs

While most large companies have huge accounting units and have ready access to large accounting and auditing firms, small and medium enterprises (SMEs) usually have to make do with the crudest record-keeping by its owners or managers as source of financial information.

This is unfortunate because no business is too small to benefit from a properly set up accounting system and to profit from reliable and timely generated information. Needless to say that the importance of these information is the same for SMEs as it is for large companies.

Reportorial requirements, though perhaps more complicated for large companies, are also generally the same for SMEs. In addition, the need for independent review, external audit and sometimes fraud investigation, is present even in SMEs.

With the advent of the information age, we are seeing thousands of these SMEs sprouting. In fact, I would not be surprised if there are a thousand SMEs per one large company in the Philippines. What I think is sad is that the accounting profession seem to be not quite ready to service their needs.

As I start a new career in public accounting practice, I resolve to be among the forerunners in this area. I want to make it my objective to address the needs of SMEs and be part of the fastest growing sector of our economy today.

In this effort, I will be providing services such as setting up of accounting systems as well as bookkeeping services, payroll processing, bank reconciliation, financial statement, tax return preparation, risk analysis, external audit, fraud investigation, management advice, tax compliance and audit assistance, among others.

For inquiries, call me, Gilbert E. Lumantao, Certified Public Accountant, at GEL Accounting Services, with landline no. 4560428 and mobile no. 09189387793. You may also email me at lumantao@gmail.com or message me at Yahoo Messenger (userid "gelumantao"). In case unavailable, just leave your contact information and I promise to get back to you as soon as possible.

You may visit my accounting website at http://gelacctngservices.onlinewebshop.net. The site is still under construction but the essential information is already there.

Accounting for Non-Accountants 3

Assets are debit accounts. This means that they are accounts normally at the left side of the accounting equation. To increase, you debit the account. To decrease, you credit it. On the other hand, liabilities and equity are credit accounts. They are normally at the right side of the equation. To increase, you credit them. To decrease, you debit them.

This increase/decrease of account balances is done by the recording of transactions through a journal entry. A journal is considered in accounting as the book of original entry. This is where transactions are first recorded or entered. The entry looks like this:

Cash P250
Accounts Receivable P250
To record payment of
accounts receivable

Entries will then be posted to what is known as the ledger. Using the ledger, the balances of each account may be computed at the end of an accounting period. The balances will then be the basis for the preparation of the business's financial statements. It is these statements which will be audited in order to determine whether it represents fairly the results of operation and financial condition of the business.

That to me is the accounting cycle. If you want to know more about accounting, visit this tutorial site: http://www.dwmbeancounter.com.

Accounting for Non-Accountants 2

Survived my lecture on the topic. Let me then continue these notes for those who may be interested.

Accounting uses "accounts" to record transactions. A list of these accounts is contained in the chart of accounts, a primary document of an accounting system. In fact, when you hear an accountant say that he or she will be setting up the books of a business, one of the first things he or she actually does is to prepare a chart of accounts.

Accounts are generally classified into assets, liabilities, equity, revenue and expense accounts. Assets are the economic resources of a business. They are either current, meaning readily convertible to cash, or long-term or fixed assets, those not easily convertible. On the other hand, liabilities are the obligations of a business, or the claims of creditors to the resources of a business. Like assets, they are also classified into current and long-term.

Equity represents the rights of owners over the resources of the business. It is also to referred to as the net worth of the business - the value of its assets less liabilities. This is increased by revenues or income earned, and decreased by expenses, meaning the costs of operations and other activities incurred during the accounting period.

Accounting for Non-Accountants 1

Accounting they say is the language of business. It is the art of analyzing, recording, summarizing, reporting, reviewing, and interpreting financial information. No matter what language they speak, businessmen around the world use accounting to keep track of the performance of their businesses.

The idea is that the total assets of a business is equal to the total claims of its creditors and the equity of its owners or stockholders. This fundamental equation may be extended to include revenues which are essentially additions, and expenses which are deductions from owners' equity.

To maintain the balance of this accounting equation, standard accounting makes use of the double-entry method in recording transactions. This means that for every debit, there is a corresponding amount of credit. Any error would result to a discrepancy, a "disbalanse" in Filipino, and nothing is more irritating to the one maintaining the books.