BIR Update: Company Business Style

PUBLISHED: OCTOBER 18, 2019

With the rapid advancement of technology, gadgets and business software are being introduced almost every day. Were you able to keep up with the pace?

Business software is made to perform various business functions, it also allows a business to measure its productivity, growth, and even track its finances. Some example of business software are the following; word processing programs; accounting software; billing software; payroll software; database software; asset management software; and desktop publishing programs. In purchasing a business software, business owners must consider the size of the business, the needs of the business and of course, the business activities that needs to be automated or computerized.

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A business software that can greatly help a company is an accounting software, in the Philippines, there is an array of accounting software to choose from. An example of which is QNE Software Philippines, Inc. a local company that provides accounting and payroll software. QNE Optimum is an accounting software known for being a BIR-ready and multi-platform. With QNE Optimum, companies can now easily access, input, and monitor their accounts, also they can generate financial and BIR forms and reports, invoices, and more.

QNE being compliant to the Philippine Government standards, the company follows every change that the government implements. With the recent Bureau of Internal Revenue (BIR) Circular Memorandum official receipts and invoices should contain “Business Style” along with the customer name, address, and TIN to verify the expenses. Many have been confused with what to put in the receipt’s “Business Style”, BIR clarified that business style is the business name of the company. If a corporation is registered under the name AB Corp. but is operating under the business name “AB Accounting”, hence business style is the business name “AB Accounting”. While for a single proprietor like Juan Dela Cruz who has a business registered with DTI Certification, “Juan’s Catering and Events”, thus “Juan’s Catering and Event’s” should be reflected in the “Business Style” portion.

With changes like this, QNE Optimum business software can easily append its forms to comply with Philippine Government. Business software transforms from time to time, companies must adapt to all the changes it will bring. To know more about the latest updates on accounting software talk to us at 8567-4248 or 8567-4253, send us a message at sales@qne.com.ph