Balancing your company’s books can be a monumental challenge, especially if you’re handing multiple accounts or large amounts of data. However, installing a computerized accounting system that can keep track of all your data can be a big help when it comes to organizing your company’s accounts. Many businesses nowadays rely on these kinds of systems to help stay on top of all their financial transactions. Even companies that have been using traditional accounting means are now making the switch to the digital trend of computerized accounting.
Why Use a POS with Your Accounting System
Using a computerized system to track all of your daily numbers can ease the burden of running any type of business. By allowing you to have a wide yet detailed perspective of everything from sales data to customer metrics, your company can keep better track of its performance and plan its strategies more efficiently. Existing accounting systems, whether manual or digital, can be easily integrated with a POS system to allow data to be constantly updated and to avoid any redundancies during the accounting process. Human error incidents like double-entries can be minimized if you have an integrated POS system that can keep tabs of information and ensure that all modules are in sync with one another.
BIR Requirements for Computerized Accounting Systems
Implementing a computerized accounting system can also help with the generation of accounting records that need to be submitted to the BIR (Bureau of Internal Revenue). However, the BIR has some documentary requirements that companies need to fulfill if they plan on using a computerized accounting system to handle their accounting books.
The most important documents in fulfilling these requirements is accomplishing BIR Form 1900, which is the Application for Authority to Adopt Computerized Accounting System (CAS) and/or Components Thereof/Loose-leaf Books of Accounts, 2002 Enhanced version. And depending on whether or not you will be implementing a POS System with your CAS, you’ll also need to submit BIR Form 1907, which covers Application for Permit to Use Cash Register/Point of Sale Machine, 2002 Enhanced Version.
Below is a complete list of other documentation required by the BIR:
- Photocopy of BIR Certificate of Registration
- Photocopy of registration fee payment
- Map of current place of business and other branches that will use the CAS
- Inventory of approved unused invoices and receipts
- Application name and software used, as well as all of its functions and features
- System and process flow charts
- Sworn statement and proof of system ownership
- Back-up procedures, as well as disaster and recovery plans
- Samples of system generated accounting reports and correspondences along with their descriptions and purpose
- Certification from Computerized System Evaluation Test (CSET) that approves the system, if applicable
It’s also important to note that the fulfillment of these requirements is mandatory before the system is implemented and can be fully adopted by the company.
ANSI Offers POS Integration with Your Existing Accounting Systems
ANSI provides full POS integration with any existing accounting system your company may be using. We also offer a full suite of Accounting POS software, along with its complete documentation, that is ready for full implementation at your discretion. If you want to learn more about our Accounting POS services, just leave us an inquiry on our Contact Us page. We’ll be more than happy to answer your questions regarding our services.