Frequently Asked Questions

Question 1

What accounting and bookkeeping services does CBSI provide?

Accepted Answer

CBSI provides end-to-end accounting and bookkeeping services including general ledger maintenance, accounts payable and receivable management, bank reconciliation, financial statement preparation, and management reporting. We serve SMEs, corporations, and foreign-owned entities operating in the Philippines.

Question 2

Can CBSI handle accounting for foreign-owned companies in the Philippines?

Accepted Answer

Yes. We have extensive experience supporting foreign-owned corporations, branch offices, and representative offices. Our team is well-versed in Philippine GAAP, PFRS, and the specific reporting requirements of the SEC, BIR, and BSP for foreign entities.

Question 3

Do you offer cloud-based accounting services?

Accepted Answer

Absolutely. We are certified partners of AccountingSuite and Sage 50, enabling us to deliver fully cloud-based or hybrid accounting solutions. This gives you real-time visibility into your financials from anywhere, with automated bank feeds, multi-currency support, and BIR-compliant reporting.

Question 4

How often will I receive financial reports?

Accepted Answer

Reporting frequency is tailored to your needs. Most clients receive monthly management accounts, including a profit and loss statement, balance sheet, and cash flow summary. We also offer weekly flash reports and quarterly board-level presentations for larger organisations.

Question 5

What does CBSI's payroll outsourcing service include?

Accepted Answer

Our payroll service covers the full payroll cycle: salary computation, overtime and leave tracking, 13th month pay, statutory deductions (SSS, PhilHealth, Pag-IBIG, withholding tax), payslip generation, and government remittances. We also handle year-end BIR Form 2316 and alphalist submissions.

Question 6

Is CBSI's payroll service compliant with DOLE and BIR regulations?

Accepted Answer

Yes. Our payroll processes are fully aligned with DOLE labour standards, BIR withholding tax regulations, and the latest SSS, PhilHealth, and Pag-IBIG contribution schedules. We monitor regulatory updates continuously and apply changes to your payroll automatically.

Question 7

Can you manage payroll for companies with employees across multiple locations?

Accepted Answer

Yes. We handle multi-site payroll for companies with employees across Metro Manila and provincial offices. Our systems consolidate payroll data centrally while accommodating location-specific allowances, cost centre allocations, and reporting requirements.

Question 8

How secure is our employee payroll data?

Accepted Answer

Data security is a top priority. All payroll data is handled in compliance with the Philippine Data Privacy Act (RA 10173). We use encrypted file transfers, role-based access controls, and secure cloud storage. Our processes are audited regularly to ensure confidentiality and integrity.

Question 9

What BIR filings does CBSI manage on our behalf?

Accepted Answer

We manage the full suite of BIR filings including monthly VAT returns (BIR Form 2550M/Q), expanded withholding tax (BIR Form 1601-EQ), annual income tax returns (BIR Form 1702), alphalist of employees and payees, and registration of books of accounts. We also handle BIR CAS (Computerised Accounting System) registration for clients using accounting software.

Question 10

Can CBSI assist with BIR audits and tax assessments?

Accepted Answer

Yes. Our team provides full support during BIR Letter of Authority (LOA) audits, including document preparation, reconciliation of discrepancies, and representation before BIR examiners. We also conduct pre-audit health checks to identify and address potential exposures before an audit begins.

Question 11

What is the BIR e-Invoicing System (EIS) and does CBSI help with compliance?

Accepted Answer

The BIR EIS mandates that covered taxpayers issue electronic invoices in a JSON+JWS format transmitted to the BIR in real time. The deadline for full compliance is 31 December 2026. CBSI helps clients assess their coverage, obtain a Permit to Transmit (PTI), configure compliant accounting software such as AccountingSuite, and meet all EIS certification requirements.

Question 12

Does CBSI provide tax planning advice, not just compliance?

Accepted Answer

Yes. Beyond filing and compliance, we offer proactive tax planning services including structuring advice for new investments, review of intercompany transactions, assessment of available tax incentives (PEZA, BOI, CREATE Act), and year-end tax minimisation strategies — all within the bounds of Philippine tax law.

Question 13

Which accounting software does CBSI implement and support?

Accepted Answer

We are certified implementation partners for AccountingSuite (cloud and on-premise), Sage 50, Tagrain POS, and Hansa ERP. Our team handles full implementation including chart of accounts setup, data migration, user training, and ongoing technical support.

Question 14

What is AccountingSuite and why do you recommend it for Philippine businesses?

Accepted Answer

AccountingSuite is a comprehensive cloud and on-premise accounting platform with built-in support for BIR CAS registration, VAT reporting, withholding tax, BIR Form 2307, and the upcoming EIS e-invoicing mandate. It also supports multi-company consolidation, multi-currency, advanced inventory, fixed assets, and CRM — making it ideal for growing Philippine SMEs and corporations.

Question 15

How long does a typical software implementation take?

Accepted Answer

Implementation timelines vary by scope. A standard AccountingSuite or Sage 50 deployment for an SME typically takes 4 to 8 weeks, covering system configuration, chart of accounts setup, opening balance migration, and user training. Larger ERP or multi-entity implementations may take 3 to 6 months.

Question 16

Do you provide training and post-implementation support?

Accepted Answer

Yes. All implementations include structured user training for your finance team. Post-go-live, we offer ongoing support packages covering system queries, software updates, BIR compliance changes, and periodic health checks to ensure your system continues to meet regulatory and operational requirements.

Question 17

How long has CBSI been operating in the Philippines?

Accepted Answer

CBSI was established in 2007 and has been serving Philippine businesses for over 17 years. We have supported more than 500 clients across industries including manufacturing, retail, real estate, hospitality, and professional services, as well as foreign-owned enterprises and multinational subsidiaries.

Question 18

How do I get started with CBSI's services?

Accepted Answer

The easiest way to start is to book a free consultation through our website. During the consultation, we will assess your current situation, understand your requirements, and recommend the most appropriate service package. There is no obligation, and we will provide a clear proposal before any engagement begins.

Question 19

Does CBSI work with startups as well as established companies?

Accepted Answer

Yes. We work with businesses at every stage — from newly registered startups needing their first set of books to established corporations requiring complex multi-entity consolidation and ERP implementation. Our service packages are scalable and can grow alongside your business.

Question 20

Can CBSI assist with business registration and corporate compliance?

Accepted Answer

Yes. Our corporate compliance team handles SEC registration, BIR registration, local government permits, and annual General Information Sheet (GIS) filings. We also assist foreign investors with PEZA, BOI, and CEZA registrations, as well as visa and immigration requirements for foreign executives.

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