Philippines

Configuration

Install the 🇵🇭 Philippines fiscal localization package to get all the default accounting features of the Philippine localization, such as a chart of accounts and taxes. These provide a base template to get started with using Philippine accounting.

Note

The Philippine BIR 2307, SLSP, 2550Q, QAP and SAWT reports, and the Philippine check layout (Print Check - PH) are not available in this edition. The ATC codes of the withholding taxes are still stored on the taxes and can be exported from the tax report; checks can be printed with the generic check layouts.

Note

  • When creating a new database and selecting the Philippines as a country, the fiscal localization module Philippines - Accounting is automatically installed.

  • If the module is installed in an existing company, the chart of accounts and taxes will not be replaced if there are already posted journal entries.

Chart of accounts and taxes

A minimum configuration default chart of accounts is installed, and the following types of taxes are installed and linked to the relevant account:

  • Sales and Purchase VAT 12%

  • Sales and Purchase VAT Exempt

  • Sales and Purchase VAT Zero-Rated

  • Sales and Purchase Withholding

For the withholding taxes (Accounting ‣ Configuration ‣ Taxes), there is an additional Philippines ATC field under the Philippines tab.

screenshot: finance-fl-philippines-atc-code
menu
Accounting ‣ Configuration ‣ Taxes ‣ (a withholding tax) ‣ Philippines tab
shows
The "Philippines" tab of a withholding tax with the "Philippines ATC" field set (e.g. WC010).
highlight
The "Philippines ATC" field.
data
Demo company "YourCompany PH", Philippine localization installed.
module
l10n_ph
notes
English UI, light theme, 1440px width.

Note

Taxes’ ATC codes identify the withholding tax type towards the BIR. If a tax is created manually, its ATC code must be added.

Contacts

When a company or an individual (not belonging to a company) contact is located in the Philippines, fill in the Tax ID field with their Taxpayer Identification Number (TIN).

For individuals not belonging to a company, identify them by using the following additional fields:

  • First Name

  • Middle Name

  • Last Name

Note

For both Company and Individual, the TIN should follow the NNN-NNN-NNN-NNNNN format. The branch code should follow the last digits of the TIN, or else it can be left as 00000.