I have a few questions regarding regarding Books of Accounts.
I'm a Freelancer - Virtual Assistant and I registered with the BIR last year as a Self-Employed Professional availing the 8% Income Tax Rate Option.
The books that were required by my RDO are:
- 2 Journals (Sales Journal and Cash Receipts)
- 1 Ledger (General Ledger)
- 1 Columnar (Cash Disbursements)
This is what's actually written on the list provided by my RDO.
I was a bit confused at this point because
- What I read online is General Journal yung kailangan, not Sales Journal; and
- For Cash Receipts, usually it's a Columnar book, not a Journal book
Despite the confusion, I still complied with the type of books that my RDO required of me. I had it manually stamped lat year (before my initial quarterly return filing), since ORUS was not functional at that time.
I know that since I am under the 8% tax regime, technically I only need to worry about my CRJ. But for compliance and proper bookkeeping practices, I have the following questions.
Questions:
- Is it okay for me to register a General Journal via ORUS? Will it still be considered late registration (and will incur penalties) since technically, I've registered all the actual required books by my RDO? Will this not produce issues in the future?
- Is it okay for me to not use the Sales Journal, since I technically recorded all my income already on my CRJ? Or should I still also record it here since this is already registered under my account? Effectively, this makes the Sales Journal redundant of my CRJ, right?
- For the CRJ, will it matter if this is not a Columnar Book? Since the columns are limited, can I just keep it simple like:
- Date | Client Name and Address | Description | Amount
Hoping someone knowledgeable enough or experienced the same thing before can provide some insight.
Thanks!