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Accounting Service

Now in the Philippines, Accounting Service is not an Option, it is Mandatory.

Accounting Service

Preparation for Tax Reduction

 

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Prepared accounting is directly related to the reduction of tax unnecessarily being paid, and let your business be free from the penalties and fines that may arise in the future.

Omnistellar offers service below.
 

  1. Preparation of the monthly summary of transactions;

  2. Preparation of financial statements such as balance sheet and income statement at the end of the quarter.

  3. This comprises at least once a month visit to your office for purposes of:

    • Recording your transactions to ensure that your books of accounts are updated;

    • Maintaining ledgers as subsidiaries to some vital accounts, if applicable;

    • Ensure that your transactions conform with the Generally Accepted Accounting Principles (GAAP) and internal revenue laws, rules and regulations;

Tax Incentives

Protection for Rapid Tax Reform

 

Accurate tax management is the basis of taxation.

Omni Stella participates in a tax law seminar hosted by BIR and applies the updated tax law to prevent disadvantages and penalties from arising by the rapidly changing recent tax system of the Philippines.  

 

  1. Conduct compliance audits relative to the Company’s registration with the following government agencies:

    • Securities and Exchange Commission (SEC);

    • Bureau of Internal Revenue (BIR);

    • Local Government Unit (City Hall);

    • SSS, HDMF, and PhilHealth;
       

  2. Tax filing and/or payment of the following:

    • BIR Forms 2550M, 2550Q - Vat returns including the summary list of sales and purchases;

    • BIR Forms 1601-C & 1604-CF - Withholding tax on compensation  including the alphabetical list of payees;

    • BIR Forms 1601-E & 1604-E - Creditable withholding tax  including the alphabetical list of payees;

    • BIR Forms 1702Q – Quarterly  income tax returns
       

  3. In filing your annual income tax return and audited financial statements to the SEC and BIR, professional audit services may be provided.  The approach, methodology, scope, and fees of the audit will be determined based on the volume of transactions and shall be covered by a separate engagement.
     

  4. Help facilitate in securing Company’s annual business permit and annual registration of books and printing of official receipts/invoices whenever necessary to be charged separately

Payroll

Labor Cod is Not Only for Employees

 

Payroll management with accurate labor code cannot only eliminate the problems that may arise between labor and management but also save the employer's expenses.

 

  1. This comprises of initial payroll processing to include :

    • Semi-monthly preparation and computation of payroll for employee’s salaries.

    • Printing of pay slips.

    • Processing of clearance and quitclaim/final pay for exiting employees.

    • Processing of BIR Form 2316 (Certificate of Compensation Payment/Tax Withheld)
       

  2. Filing and payment of statutory benefits comprise of the preparation of monthly reports and payment of premiums due to:

    • Social Security System (SSS)

    • Philippine Health Insurance Corporation (Philhealth)

    • Home Development Mutual Fund (HDMF or PAG-IBIG)
       

  3. The number of employees that shall be initially covered by this agreement will be a maximum of ten (10) personnel.  In excess of ten (10) will be charged accordingly.
     

  4. Duration of payroll preparation shall be within five working days. Please see Annex A for the guidelines.

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