How To Generate BIR 2550

How To Generate BIR 2550

BIR 2550 is a form of sales tax imposed on sales or exchange of goods and services. BIR 2550M, also known as Monthly Value-Added Tax Declaration and BIR 2550Q as Quarterly Value-Added Tax Return can be both generated in the QNE System

1. Using the Navigation Panel, Go to VAT Module > VAT Declaration

VAT Declaration Form can be observed to have items listed on the 1st Column (Description), and additional 12 Columns which represent the Months. 

Refer to below table for the listed DESCRIPTION, with identification whether value for each month is automatically calculated by the system or is user-inputted (FIELD TYPE) and REMARKS for formula and other notes.

Note: VAT Declaration Field ID is only created for reference to easily recognize the values that will reflect in BIR Form 2550

2. To start, set the current working Year. The system will display all computed monthly Vatable and VAT Amounts based on the recorded transactions. Fill in all other needed fields.

3. Once VAT declaration has been finalized, Click Save or Save and Close.

BIR 2550 Form can now be generated.

4. Go to Reports > VAT Reports > BIR 2550

For BIR 2550M ‘Monthly Value-Added Tax Declaration’, Set the Report Type to MONTHLY, then select Taxable Month and Year then click Preview

Below shows the VAT Declaration Field IDs and its corresponding Field No. in BIR 2550M 

Form 

FIELD ID VAT DECLARATION FIELD IN BIR 2550M A1  12A A2  13A A3  14 A4  15 A  16A B1  12B B2  13B B  16B C1  17A C2  17B C3  17C C4  17D C5  17E C  17F D1  18A D2  18C D3  18E D4  18G D5  18I D6  18K D7  18M D8  18N D  18P E1  18B E2  18D E3  18F E4  18H E5  18J E6  18L E7  18O E  19 F1  20A F2  20B F3  20C F4  20D F5  20E F  20F G  21 H  22 I2  23A I3  23B I4  23C I5  23D I6  23E I7  23F I  23G J  24 K1  25A K2  25B K3  25C K  25D L  26

Schedule 4 and 5 portions, amounts will be coming from VAT Declaration F1 – F3.2

FIELD ID VAT DECLARATION F1  F2  F2.1  F2.2  F2.3  F2.4  F3  F3.1  F3.2

For BIR Form 2550Q or Quarterly Value-Added Tax Return, change the filter Report Type to QUARTERLY and Set Period From & To then Click Preview

Below shows the VAT Declaration Field IDs and its corresponding Field No. in BIR 2550Q Form

The system will generate the Total Values based on the 3 months covered period.

FIELD ID VAT DECLARATION FIELD IN BIR 2550Q A1  15A A2  16A A3  17A A4  18 A  19A B1  15B B2  16B B  19B C1  20A C2  20B C3  20C C4  20D C5  20E C  20F D1  21A D2  21C D3  21E D4  21G D5  21I D6  21K D7  21M D8  21N D  21P E1  21B E2  21D E3  21F E4  21H E5  21J E6  21L E7  21O E  22 F1  23A F2  23B F3 23C F4  23D F5  23E F  23F G  24 H  25 I1  26A I2  26B I3  26C I4  26 I5  26E I6  26G I7  26G I  26H J  27 K1  28A K2  28B K3  28C K  28D L  29

Same Field IDs will be used but in a per Quarter basis

FIELD ID VAT DECLARATION F1  F2  F2.1  F2.2  F2.3  F2.4  F3  F3.1  F3.2

NOTE:

For further concerns regarding this matter, please contact support to assist you or create ticket thru this link https://support.qne.com.ph