Here's the third episode for the BIR Book of Accounts video series. In this episode, I will discuss various transactions to show you how to write journal entries.
DISCLAIMER: This video is intended particularly for freelancers but is also applicable for other NON-VAT Taxpayers like sole proprietors, professionals and the like.
As a freelancer, you can personally maintain and record transactions on your Book of Accounts. However, if you exceed Php 3 Million in gross annual revenue, you have to have your books audited by an independent CPA AND your income tax return should be accompanied by a duly accomplished AIF.
Cash Receipts Book ⇒ /watch/sLhVGRnwkLiwV
Cash Disbursement Book ⇒ /watch/QrxzzMxRfS1Rz
Ledger ⇒ /watch/gVgC2zKKBjsKC
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#TaxGuidebyJane #freelancing #BIRtutorials