Inventory List of Unused Official Receipts, How do I issue this to BIR?
Have you heard of this new requirement from BIR in relation to the RR 7-2024? If not, let us break it down for you to easily understand what to do with them.
But first what is the purpose of the Inventory List, and why do we need to issue this to BIR?
The new RR 7-2024 states that all unused official receipts shall be converted to invoice by striking through the word “Official Receipt” and, in its place, stamp “Invoice,” “Cash Invoice,” “Charge Invoice,” “Credit Invoice,” “Billing Invoice,” “Billing Invoice,” or “Service Invoice.” Which stamp you use will depend on the transaction but we generally recommend just using “Sales Invoice” as its generic enough to cover most, if not all, cases.
Simply put, all taxpayers must report to the BIR the number of unused Official Receipts remaining so that the BIR can qualify or acknowledge them for use as Invoices until all unused OR are completely used. After that, you will need to have new invoices actually printed out already. Taxpayers need to turn over the Inventory List to the BIR within 30 days of RR 7-2024 taking effect.
What should be the format for the Inventory List?
The inventory list shall include the following:
- Taxpayer details (Name, TIN, Business Address, ATP OCN, RDO Branch Code)
- Description and Type of Official Receipts
- No. of Booklets
- Ending serial number of the OR
- Signature over printed name of the taxpayer
Here is a template for inventory of unused receipts.
But if you don’t have time to prepare for the inventory list, you can ask for an accountant to do it on your behalf. Reach out to our team at customercare@taxumo.com to connect you with one of our accountant partner to assist you on the inventory list.
How do I submit the inventory list to BIR?
According to RMC 66-2024, Taxpayers can submit their inventory list on or before July 31, 2024 with either 2 options.
1. Taxpayer can submit an email on Inventory List through Taxpayer Registration-Related Applications (TRRA) Portal: Click here to submit your inventory list
2. Taxpayers can email the Inventory List directly to the compliance section of their respective RDO. Click here to check the email of your RDO
Is there a way to manage my Invoice transactions on my Books of Accounts easier?
We all know that as a taxpayer, once you register with BIR, you will also be issued with Books of Accounts. But we know how time-consuming this can be for businesses, especially if you have a lot of transactions.
So we made a way in Taxumo for this process to be easier.
All you need to do is to type in your Income and Expenses on our Cashflow, and from here we would be able to generate the Books of Accounts automatically for you.
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And the best part is – there’s a way for you not to hand write this down one-by-one on your Books of Accounts, you can apply for a loose leaf accreditation with your RDO. Connect with one of our Accountant Partners here https://www.taxumo.com/taxumo-consult/ if you want to learn more about this.
I am interested to join with Taxumo for my employer, can you please assist us?
But it’s just a small company, and it can’t afford to pay expensive accounting system, I hope you can help us
Thank you
Hello Dolores,
Good day!
You can send us an email so we can further assist you. Kindly send your inquiry at customercare@taxumo.com. 🙂
When is the deadline in submission of inventory list
Hello Irene,
Good day!
The original deadline was May 27, 2024, but some RDO’s extended the deadline to July 31, 2024. You can check with your RDO and see if they also extended their deadline of submission for the inverntory list of unused ORs. 🙂
For the suggested template, what serial numbers are we putting there? Is the same in the ATP or is it going to be the unused serial numbers?
Place the serial numbers of the Unused ORs po. 🙂
How to account used OR booklets with remaining unused series, will this be included in the inventory?
Hello Rose,
Yes this will be included in the inventory list of unused ORs. 🙂
I have reported the unused ORs to be converted to invoice and ordered prints of service invoice. When the prints of service invoice arrive, do i need to report to BIR that i will not be using the reported unused ORs converted to invoice anymore because the printout of service invoice with ATP has arrived and ready to be used?
Hello Lilibeth,
If you have already submitted the inventory list of unused Official Receipts and have obtained a new Authority to Print (ATP) for your Service Invoices, you generally do not need to notify the BIR again. The submission of the inventory list and the receipt of a new ATP should be sufficient to update your records and ensure compliance with BIR regulations.
Dear team,
question. what do we need to accompany with the inventory list of unused receipts? Is a letter directed to the commissioner, copy of 2303 and 1921 and in two sets, is that what needs to be done? Thank you
Hello Peter,
You just have to submit the inventory list to your RDO 🙂
Unused booklets lang ba? Or kasama yung mga booklet na may partially unused serials.
Hello May,
This is for the unused booklets 🙂
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Hi! Is it possible po to submit the inventory online or need talaga magpunta ng RDO?
Hello Mia,
According to RMC 66-2024, Taxpayers can submit their inventory list on or before July 31, 2024 with either 2 options.
1. Taxpayer can submit an email on Inventory List through Taxpayer Registration-Related Applications (TRRA) Portal: Click here to submit your inventory list
2. Taxpayers can email the Inventory List directly to the compliance section of their respective RDO. Click here to check the email of your RDO
Hi, with regards to strikethrough of the word “Official Receipt”, can we do it manually? With the stamping of Sales Invoice on the official receipts, can we do it by manually writing the word sales invoice on the receipts?
Thanks.
Hello John,
Yes, you can manually strike through the word “Official Receipt” and write “Sales Invoice” on the receipts. Just make sure to follow BIR guidelines for these adjustments.
Hello, thank you for this guide po! I have a question po, how will you know if the RDO has already approved the conversion of your receipts to invoice po?
Hello Hanna,
They will send you a confirmation email to confirm the successful submission of your inventory list. 🙂
Hi.. I know that there has been an update on the deadline for submission of the inventory of receipts to end of July. If I send this via email through the BIR portal, do we need some kind of acknowledgment from BIR or simply having proof of the email successfully sent is enough? Thank you for your assistance.
Hello Tina,
An email confirmation should be sent to you by your RDO to confirm the successful submission of your inventory list. 🙂
Hi! I usually issue an OR for the compensation i receive monthly from a dialysis center. Will this be stamped as SERVICE INVOICE or what? And the amount stated should be the gross or net (less tax withheld)? Thanks
Hello Jie,
The OR should be changed to Service Invoice and the amount declared should be the gross amount including withholding tax deductions. 🙂
Hi, Okay lang po ba kung ngayon pa lang magsusubmit nang Inventory List of Unused OR? I know may penalty na 1,000 for late submission but after that am I allowed now to continue to used the OR (provided na I’ll follow the rules on RMC 77-2024) ?
HiEmmy,
Yes, you can submit your Inventory List of Unused OR now, even if it’s late, and you will incur a penalty for the late submission. Once you have submitted the list and comply with RMC 77-2024, you can continue using your OR as a supplementary receipt. However, I recommend verifying this with your RDO to ensure you’re following all the necessary rules. If you have any more questions, feel free to ask!