How it Works

CPE Accounting Services provides outsourced services covering the scope of the financial reporting and accounting process – from recording transactions and maintaining books of accounts to preparing statutory reports, financial statements, and other management reports, so our clients can focus on the operations of their business.

At the end of each month, we will perform an on-site visit to do the accounting and bookkeeping or the client staff could hand in the necessary documents. We require that documents such as your sales invoices, shipping invoices/delivery receipts (if applicable), official receipts, bank statements, credit card and other statements be available during our visit.  Once we have everything we need, we will process your data during the visit and perform the recording of transactions on site or off site.

1. Collation of Documents

CPE will collect vital documents first from clients, and they ask for the Client’s preference based on their accounting periods in a weekly, bi-monthly, or monthly basis.

Listed below are accounting documents generated by the company for compilation:

1. Bank Statements

2. Invoices

3. Receipts

4. Billing Statements

5. Payroll Registers

6. Contracts

7. Others

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2. Recordings of Transactions

Manual books of account, various vital details, and details overlooked by clients are sorted, analyzed, and then verified for their accuracy. This phase ensures that all the transactions are accounted for.

The following books of account are prepared and submitted to the BIR for compliance purposes depending on clients Tax type:

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1. Cash Receipts Book

2. Cash Disbursement Book

3. General Journal

4. Purchases Journal

5. Sales Journal

6. General Ledger

3. Financial Reporting

For transparency purposes, financial reports are created for disclosure with the Client’s partners and the government to prove the legitimacy of all recorded transactions conducted by the company.

The following management reports are prepared and submitted to Clients for further improvements and verification:

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1. Trial Balance

2. Balance Sheet (Statements of Financial Position)

3. Profit or Loss Statement (Statements of Comprehensive Income)

4. Statements of Changes in Equity

5. Statements of Cash Flow

4. Archiving of Documents

After a CPE accounts all transactions conducted by the business entity, the Client must retain all received documents submitted during the initial phases of accounting and bookkeeping. The Client must secure all source documents (whether in soft or hardcopies) within ten (10) years before availing CPE Accounting Services.

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Source documents are the original hard copies of accounting documents. These records require complete security and must be properly stored.  They are considered as evidence by the client if financial transactions are marked as false. Other than that, companies and their source documents are for auditing, review, and verification of transactions conducted.