BIR Form 2551Q, or also known as Quarterly Percentage Tax Return are taxes imposed on individuals/businesses who sells/lease goods or services which are exempted from Value Added Tax (VAT) with annual sales not exceeding 3,000,000 PHP.
You need to specify Percentage Tax as your tax type before generating a report.
To start generating your 2551Q report, you'll just have to access your dashboard and go to Percentage Tax Return, then proceed to 2551Q tab.
Follow these steps in creating your 2551Q report:
Click the plus icon (Generate Report).
Select the Month and Year of your report then hit Generate.
You can start adding transactions by either:(1) Adding them manually or by (2) By importing CSV format transactions.
Graduated or 8% Income Tax Rate
After generating the report, you also need to choose between radio buttons on whether you wanted to utilize either graduated or 8% income tax rates.
Adding Transaction(s) Manually
Proceed to the Sources tab and click either the plus icon (Add Transaction(s)) or the CREATE TRANSACTION button.
In case that your customer isn't a part of your contacts, you can easily add them by clicking the Add as New Contact link. It will prompt you to a form where you could fill out all the important information such as Contact Type, TIN and Address. Click Save button to continue.
Once added, you can already start adding other information such as Description, Reference No., Date, Amount and ATC. Hit SAVE buitton to continue.
After saving, your transaction will appear in the 2551Q grid. You can edit, delete, bulk edit, export, search and navigate through your transactions list.
Importing Transactions through CSV
You can also import your transactions in bulk for your 2551Q report. All you need to do is to have a CSV file containing your transaction information. Click the Import Transaction(s) button to begin.
Once you are prompted to the Import CSV transactions modal, you need to click the download links in order to obtain a copy of the file.
There are two files available:
a. CSV file - This is the actual CSV file containing fields such as Date, Amount, Customer TIN, Customer Name, Description, Reference No. and ATC.
b. ATC Codes - As for the ATC field in the first CSV file, you can choose within the ATC codes present in this CSV spreasheet.
Once you had completed the CSV file, you may now proceed on importing it to your 2551Q report.
You need to go back to the Import Transaction(s) modal and click the Browse button.
Locate for your CSV file and click Open.
After that, you need to click Next button.
Map the fields of your CSV file with the appropriate transaction fields.
Make sure to review the mapped transactions before continuing, and once finished, click DONE.
Once you've imported some transactions, there would be instances that fields such as Address would become incomplete, since it's not part of the CSV file, but no worries because you can easily fill this one in JuanTax.
In your transactions grid, look for the transaction with the red Incomplete Address link, then click Edit Contact.
Include information on the address fields then click Update button.
To do mass editing of your transactions, click the transactions that you need then click the Edit All icon.
Preview of the Report
You can also access a preview of the actual report by clicking on the Report tab next to Sources.
Filing the Report
Simply file your report by following the guidelines mentioned in this article through our Help site.
Paying the Return
Follow the steps in this article for you be to able to pay your filed tax return in JuanTax.