SGL Accounting and Business Solutions

18/09/2026

16/09/2026

Financial data in a digital environment.

MANILA – The Bureau of Internal Revenue (BIR) has assumed full control of its enhanced Electronic Invoicing and Sales Reporting System (EIS) following the completion of a 14-month post-management support project with the Korea International Cooperation Agency (KOICA). In a news release Thursday,.....

15/09/2026

💰 GROSS PROFIT VS. NET PROFIT: WHAT’S THE DIFFERENCE?

Your business may be making sales, but how much are you actually earning?

That’s where gross profit and net profit come in.

Gross Profit is what remains after subtracting the direct cost of the products or services you sold.

For example:

Sales: ₱100,000
Cost of Goods Sold: ₱60,000

Gross Profit = ₱40,000

But that ₱40,000 is not your final profit yet.

You still need to pay other business expenses such as:

🏢 Rent
💡 Utilities
👥 Salaries
📢 Marketing
📋 Administrative expenses

After deducting these expenses, what remains is your Net Profit.

If your other expenses total ₱25,000:

₱40,000 Gross Profit − ₱25,000 Expenses = ₱15,000 Net Profit

📌 Gross profit shows how profitable your products or services are. Net profit shows how profitable your entire business is.

High sales may look impressive, but the number that ultimately matters is what remains after all the costs are paid.

Know your numbers. Understand where your money goes. Make better business decisions.

12/09/2026

DIY Accounting

"I'll organize my books myself."

Six months later: “So… where do we begin?”

11/09/2026

📊 BUDGET VS. ACTUAL EXPENSES: ARE YOU SPENDING WHAT YOU PLANNED?

A budget is what your business expects to spend.

Actual expenses are what your business really spent.

The difference between the two is called a variance, and it can tell you a lot about how well your business is managing its money.

For example:

Budgeted Marketing Expense: ₱10,000
Actual Marketing Expense: ₱14,000

That’s ₱4,000 over budget.

But being over budget is not automatically bad. The important question is:

Why did it happen?

Maybe advertising costs increased.
Maybe an unexpected expense came up.
Or maybe spending simply wasn’t monitored closely enough.

Regularly comparing your budget vs. actual expenses helps you:

✅ Spot overspending early
✅ Identify unnecessary costs
✅ Adjust future budgets
✅ Improve financial decisions
✅ Protect your cash flow

📌 A budget gives your money a plan. Actual expenses show whether the plan is working.

Don’t just create a budget: review it, compare it, and learn from it.

09/09/2026

📢 BIR UPDATE: Micro Taxpayers May Qualify for a One-Time Tax Abatement

Do you have old BIR open cases, assessments, or penalties that remain unresolved?

The Bureau of Internal Revenue (BIR), through Revenue Memorandum Circular No. 84-2026, has issued additional clarifications on the One-Time Abatement Program for Micro Taxpayers under Revenue Regulations No. 4-2026.

Qualified micro taxpayers may be able to avail of relief for certain tax liabilities and penalties involving covered cases existing as of December 31, 2025.

Among the important points clarified by the BIR:

✅ Micro Taxpayer classification may be verified through BIR ORUS or your Revenue District Office
✅ Covered cases may include certain delinquent accounts, tax assessments, and open cases
✅ For each taxable year, the combined unpaid basic tax and compromise penalties must generally not exceed ₱80,000
✅ Qualified applicants are required to comply with the prescribed application and documentary requirements
✅ A ₱5,000 abatement fee applies to qualified applications
✅ The availment period runs until December 31, 2026, unless officially extended

⚠️ Important: Having an old BIR liability does not automatically mean that it qualifies for abatement. Eligibility depends on your taxpayer classification, the type and amount of liability, the taxable year involved, and compliance with BIR requirements.

If you have unresolved BIR cases, this may be a good time to review your records and determine whether you qualify for the program.

Stay informed. Stay organized. Stay compliant.

Source: Bureau of Internal Revenue — RMC No. 84-2026 / RR No. 4-2026
https://bir-cdn.bir.gov.ph/BIR/pdf/RMC%20No.%2084-2026_Redacted.pdf

07/09/2026

📚 Say Goodbye to Manual Books of Accounts!

Still spending too much time handwriting transactions and maintaining manual accounting records? Moving to loose-leaf books of accounts can make recordkeeping more organized, efficient, and easier to manage as your business grows.

With SGL Accounting and Business Solutions, you don’t have to make the transition alone. We can help guide and assist your business in switching from manual to loose-leaf books of accounts, so you can maintain your records more efficiently while keeping your accounting processes in order.

Ready to modernize the way you keep your books?

🔗 Read our blog to learn more:
https://sglacctg.com/2021/08/01/goodbye-manual-books/

Less manual work. Better organization. Smarter bookkeeping.

Barangay Micro Business Enterprise- Ano nga ba ito?

07/09/2026

A good chance for micro taxpayers to start over if they have open cases and assessments.

03/09/2026

HOW FINANCIAL RECORDS GUIDE BETTER BUSINESS DECISIONS

Good financial records do more than show where your money went. They help you decide what your business should do next.

When your records are complete and up to date, you can better evaluate decisions such as:

▸ Hiring - Can the business afford another employee?
▸ Buying equipment - Will the purchase improve operations without straining cash flow?
▸ Expanding - Is the business financially ready to open a new branch, add a service, or enter a new market?
▸ Reducing costs - Which expenses are growing too quickly or no longer providing enough value?
▸ Planning ahead - How much can you realistically allocate for future projects and investments?

Reliable records turn financial data into useful business insight.

Better records support better decisions, and better decisions help build stronger businesses.