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Accounting

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Accounting

We Help Startups With Their Accounting, Payroll Management & Tax Compliance Needs

We Help Startups With Their Accounting, Payroll Management & Tax Compliance Needs

Personalized and worry-free outsourcing services

Here at Loft, we have a dedicated team who can help companies like yours with your day-to-day accounting, bookkeeping and payroll, as well as all tasks related to tax preparation and filing. In addition to that, our consultants can also lend their expertise when it comes to year-end audits and financial statement preparations for your company.

Payroll Processing

Hiring us as your trusted payroll partner means that you can bypass the need to hire, train and manage an in-house payroll team. Our payroll experts can take care of the timely and accurate crediting of salaries, as well as reporting of all taxes and contributions. We have stringent privacy policies when handling sensitive information to make sure that you have peace of mind when outsourcing your payroll activities.

Sample Package for 30 Employees
  1. Semi-monthly payroll computation
  2. Payslips to be distributed to employees via email
  3. Monthly preparation of reports:

    • SSS PRN
    • SSS Salary Loan Payment
    • SSS Loan Collection List
    • PAG-IBIG Fund Members Contribution Remittance Form
    • PAG-IBIG Fund Short-term Loan Remittance Form
    • Philhealth Statement of Premium Account
    • Philhealth Employer’s Report
    • Remittance return of income taxes withheld
      on compensation

Accounting Outsourcing

Set Up of Books

Set Up of Books

To make your financial records up-to-date and compliant, our Xero-certified experts will set up or migrate your books of accounts using our cloud-based accounting software, Xero.

Accounting & Bookkeeping

Accounting & Bookkeeping

This service includes real time recording of accounting transactions using Xero.

Tax Compliance

Tax season is often a stressful time for business owners. Through our tax compliance services, we are able to help individual professionals and small to medium sized companies with day-to-day accounting and tax issues.

Monthly Tax Returns

  1. Monthly remittance return of creditable income taxes
    withheld (expanded)
  2. Monthly remittance of income taxes withheld
    on compensation
  3. Monthly value-added tax declaration

Quarterly Tax Returns

  1. Income tax withheld at source including quarterly alpha
    list of payees
  2. Income Tax return including SAWT
  3. Value added tax including summary list of sales
    and purchases
Preparation of GFFPS

Preparation of GFFPS

Our accounting team can prepare the General Form for Financial Statements based on the audited financial statements; and submit this to the SEC using the required format and ahead of the deadline.

Statutory Accounting & Year End  Assistance

Statutory Accounting & Year End Assistance

We can liaise on your behalf with the external auditor when it comes to the year-end audit of your company’s financial statements.

This includes preparing the schedules of accounts, draft of financial statements and other requirements of the external auditors.

FAQ's on Accounting Services

Do you work with a third party accounting team or do you have your own?

Loft employs its own accountants and accounting consultants.

Do you offer other accounting services outside of your defined packages?

As long as your needs fit within the sphere of corporate accounting, we should be able to propose a custom service for you. Please get in touch with us using our contact form so we can get the conversation started.

How do you bill your clients?

We have services that are billed as one-time payment (e.g. Year End Audit Assistance, Set Up/Migration of Books), and there are services that are billed quarterly (e.g. Payroll Processing, BIR Tax Filing, Accounting/Bookkeeping). Please send us an inquiry so we can send you the details.

Are your accounting service rates VAT inclusive?

All rates are exclusive of VAT and this will be added to your final invoice.

Do you only work with business owners who are residing in The Philippines?

Our services are available to both domestic companies and foreign business owners who wish to venture into business here in The Philippines.

What are Loft’s business hours?

Loft used to be open 24/7. But in compliance with the ongoing pandemic guidelines, our new hours are from Monday to Saturday, 8AM to 6PM. We are closed on Sundays.

If you have other questions that are not answered in the above FAQ, please feel free to get in touch
with us via email at hello(at)loft(dotted)ph, via call 0917-899-0044 or using our website’s contact form.