Good Morning!! This is our 1st post for the Q&A Friday Series, questions that you ask on our blog and answered by the Full Suite Team will be posted here every Friday of the week.
For this inaugural post, let’s answer some questions in regards to Official Receipts.
To start it off, here’s a question posted by one of our readers in the article Everything You Need to Know About the New BIR Ruling on Official Receipts and Invoices.
May I know how I can get official receipts for consultancy and other services such as apartment rental . The services are not regular. They just come once or twice a year. I may need to give official receipts. How long will this take? Who is the best person to talk to in BIR whom we can deal with professionally?
Our answer to that question: To address your concern, you have to apply first your business operations with BIR for you to obtain a Certificate of Registration then they shall issue you Books of Accounts before they issue you an ATP (Authority to Print) official receipt’s for the consultancy and other services you may render as a self-employed individual taxpayer. This will take about a month or two depending on your RDO and the Authorized Printer.
Another question posted in the article What is the Difference Between a Sales Invoice and an Official Receipt?
Were on a retail gasoline station, as i read pag sales of goods po Sales Invoice po pero pag sales of services official receipt naman, Pero paano po ang category kung may inhouse creditors po kami? Ano po ba ang dapat namin iisue? Sales Invoice for the sales of goods or official receipt for the service we rendered them since they are our Creditors? confusing po kasi kung babayaran na po nila yun utang nila na gasoline? Thank you
And our answer to that question: Based on the foregoing situation, we can apply the so called “Substance over Form” concept in recording transaction for accounting, your business is in the sale of gasoline but since you have in-house creditors in place which service substantiates all. Hence, service shall prevail and official receipt should be issued accordingly.
Now, if you have questions or if you need information regarding official receipts, business registration, bookkeeping, taxes, or on how to start a business visit our Blog or avail of our Free Consultation. Have a great weekend!!