Why payroll administration shouldn’t be a burden

Let’s face it –computing for employee wage and organizing related records aren’t exactly the most looked-forward-to activities during paydays. However, there’s no escaping it either if you want to refrain from having unhappy employees, or loopholes in reportorial requirements. Small companies in particular, cannot afford to establish their own HR department and consequently, payroll administration duties can fall on anyone.



Aside from the various software being released in the market today, the promise of yielding faster, easier payroll management activities fall flat without a sound background on the vital must-do’s that go hand-in-hand with employee wage computation.


Are you looking for a worthy investment that will aid you in your payroll management activities? We have the solution for you.


Learn the essentials of Effective Payroll Management in just 1 day!


Attend this seminar and gain solid knowledge on the following:


An Introduction to Payroll
Record Keeping – Operating the Payroll Function More Effectively
Calculation of Gross and Net Pay
The Essential Payroll Tax Update for the Payroll Professional
Effective Payroll Management Reporting Skills


Register online now or view our Packaged Programs that contain this seminar and save as much as Php4,100!

Start-up ENTREPRENEURSHIP SEMINAR for FREE

So you can already envision yourself as your own boss in your dream business enterprise. You have a clear picture of your entrepreneurial idea and where you want to set up shop, or how you’re going to take over the world with your international franchises. You are confident that your idea is unique, and you can surely make it happen. However, you are bogged down with questions on how to get started –from registration to licensing, to simple accounting and business transactions, to financial reports and regulatory requirements and so much more.

Learn all these and more in our Entrepreneurship Seminar on September 7, 2010 (Tuesday) which we will be conducting FOR FREE! Training fee is absolutely waived –all you need to take care of is Php500 inclusive of lunch and training kit.

Don’t miss out! Register online now to reserve a slot or read more about this seminar.

Have happy employees –update your compensation and benefits plan

In times like these, it’s better to take care of your company’s assets, both financial and non-financial. While you think that the turnover of employees might be relatively easy considering the overwhelming number of people vigorously applying for jobs out there, finding new employee that are actually competent and reliable enough are difficult. They may need you for employment –but your competitors might reel in the best of the bunch by giving better salary and benefits offers. In a blog by PayScale.com, they give 10 tips on why and how to develop a competitive compensation plan.

1. Properly compensate your new hires. What you offer upfront to a new hire can either convince or turn a potentially valuable worker away –be realistic yet positive about your offer.

2. Deepen your knowledge. It is also important to know the trends and regulatory environment of the industry you are in. This will paint you a clearer picture of what to tweak and how to go about the improvements you want to make in your compensation plan.

3. Determine how competitive do you want to be relative to the market. Variables include growth outlook for the coming years, industry specifications, your overall philosophy on pay, etc.

4. Explain total rewards to your employees. This is crucial especially for HR professionals –make sure your employees understand the constituents of their salary, benefits and incentives. This will yield lesser cases of complaint and later on, disgruntled employees.

5. Think before you cut. If it becomes a dire necessity, layoffs are inevitable. This might not look good for the company at first, but smart and targeted layoffs are better than reducing your employees’ salary. Keeping dissatisfied and resentful employees will do more damage than cutting back altogether.

6. Remember the key issues covered by a successful employee incentive plan. Ask yourself these following key questions: Who are you going to incent? How much are you going to pay, and for what result? How are you going to deliver the employee incentive?

7. Get buy-in on your company’s compensation policy. Gain approval not only from your top executives, but everyone involved in the compensation planning. This will also help identify if your offer is aligned with the company’s objectives.

8. Equip your managers to have effective conversations about compensation. There’s nothing worse than not having a proper compensation communication strategy when it comes to implementing the compensation plan. Before the breakdown of salary constituents reaches the prospective employees, your company’s managers have to get a good grasp of the matter first so that the information flows smoothly and accurately from there.

9. Write a compensation philosophy. This generally consists of a few, two paragraphs summarizing your company’s outlook on compensation. Use generally understood words, keep your tone positive yet realistic and remember that policies are not constant and will have to undergo some changes in order to be aligned with the rest of the company’s requirements.

10. Target pay rates appropriately. If you haven’t yet, correctly define the job for market pricing.When you are targeting pay rates for positions, you’ll want to correctly define the full proficient employee who has average performance.

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Don’t miss our Compensation & Benefits Seminar this August 18, 2010 (Wednesday)! Click here to register now or view or Packaged Programs to see how you can get a discount on this seminar and save as much as Php4,100!

Tax evaders beware, your Facebook might give you away

Be careful of what and how much you share on your Facebook and Twitter account, your seemingly harmless tax rants and shout-outs might be more buzzworthy than you think.

Bureau of Internal Revenue (BIR) Commissioner  Kim Henares stated in an early July interview that complaints are being posted on her Facebook regarding tax cheats and evaders, and they are considering these reports as leads to tax crimes. With the Philippines ranking fourth in the Fitch Ratings list of countries with the worst tax collection procedure, the use of social networking sites to crack down on tax evasion might help boost revenue collection. The country is reported to have at least 14.6 million Facebook users, according to Checkfacebook.com.

Banco de Oro market strategist Jonathan Ravelas says that this move will keep people in check, although its visible impact will only be seen over time. With tax revenue plummeting to 12.8 percent of gross domestic product in 2009 from a record 17% in 1997, the BIR aims to raise collection to at least 15% this year without waiting for new or higher tax implementations in support of President Aquino’s pledge to boost revenue and wipeout corruption.

“This is a key rating weakness in the Philippines,” said Andrew Colquhoun, head of Asian sovereign ratings for Fitch, said in an interview. “We remain convinced an enforcement effort can raise revenue.”

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Get your tax basics and updates in our popular Comprehensive Tax Seminar! Sign up now to join the Aug. 5, 2010 (Thursday) schedule or click here to see our available Comprehinsive Tax Seminar Promos.

Have a zero-waste supply chain

Do you fear that your supply chain might be endangered by less-than-optimal budget planning and misplaced costs? Has your procurement process yet to reach its maximum level of efficiency due to a lack of inventory control or too many inventories that burn a hole in your budget? With too-tight budgets, having sound financial planning at the start of the supply chain processes is prerequisite to having a zero-waste management of warehouse and logistics activities.

Attend our Warehouse Management & Inventory Control Seminar on August 24-25, 2010 and gain fresh insight on the following:
• Organizational Placement
• Funding and Costs
• Working Stock and Safety Stock
• Types of Surplus and Disposal Methods
Click here to read more or to register online!

Avoid the most common, costly tax errors committed

As the saying goes, there are only two certain things in life: death & taxes. While both are unavoidable constants in life, the stress involved in the latter can be controlled. For employees, the deduction of taxes from salary alone induces a groan every cutoff but for business owners and finance managers, tax-related burdens run deeper. Even the smallest miscalculation or missing reportorial document could cause grave penalties that could halt business operations.

Feel like you need updates on the latest tax developments? Attend our Comprehensive Tax Seminar on August 9, 2010 and allow us make the tax aspect of your business or profession a breeze. Topics covered are but not limited to:

• Withholding Taxes
• Local Business Taxes
• Final Withholding Taxes
• Fringe Benefit Taxes
• The New VAT Law
• Updates on INCOME TAXATION
• Penalties and how to avoid them
• What to do when issued a Letter of Authority (LOA)
• Tax Reduction

A MUST for all tax professionals, bookkeepers, entrepreneurs, accountants, lawyers or anyone needing a firm understanding of the Philippine taxation system and its implications. Click here to reserve a seat now!

Pursue your dreams of becoming self-employed

Do you have what it takes to be a franchise owner? A clothing retailer? A registered business operator? According to statistics, 50% of various registered businesses in the Philippines fail within 2 years of operation due to lack of sufficient knowledge in the nitty-gritty details of business operations such as reportorial requirements, financial reports and business feasibility. Whatever business venture it is you have in mind, we can help you figure out if you have what it takes to be an entrepreneur!

Attend our Entrepreneurship Seminar for FREE* this July 6, 2010 and have a long-lasting relationship with your business ideas and become your own boss! For more details and convenient, online registration, click here. Limited slots only, register now.

*Entrepreneurship training fee waived –all you have to take care of is a Php500.00 fee for a.m./p.m. snacks, lunch and training kit.

What payroll professionals can do that their software can’t

In the age of automated systems and the constant development of hundreds of office software, manual data processing and archiving has become simplified in various ways. Professionals faced with accounting and recordkeeping tasks in particular might be among the first to provide positive testimonies regarding these developments. Even payroll administrators using software like customized payroll systems might be giving praise for the wide margin of convenience that these programs yielded.

However, aside from possibilities of power failure, system crashes, computer fraud and the like, payroll professionals should know how to deal with other aspects of payroll that no software alone can accomplish. Handling payroll goes beyond just the computation of wages and recordkeeping.

Do you think you need more proactive measures to truly understand and effectively handle case-to-case payroll problems within your organization? Attend our Effective Payroll Management Seminar this July 9, 2010 and gain a full grasp of:

• The different types of payroll and roles of a payroll administrator
• Tax updates and statutory requirements for ensured tax compliance
• Customizing reports for different departments
• Calculating Gross and Net Pay and how to categorize workers accordingly

Know more about this seminar now or take Effective Payroll Management with our Packaged Programs and save as much as Php 4,100!

What’s (possibly) in store for entrepreneurship in the new administration

Despite the backlash that outgoing President Macapagal-Arroyo has been receiving from all sides regarding several graft and corruption cases pinned to her name, she was hailed as the “entrepreneur champion” during the 20th Negosyo Seminar. The Negosyo Seminar (NegoSem), was held last June 17 in Ms. Arroyo’s hometown in Lubao, Pampanga. Presidential consultant for entrepreneurship and Go Negosyo founder.Jose Ma. “Joey” Concepcion III, was the one who awarded Ms. Arroyo during the event.

In another event related event held in Pampanga also, Bangko Sentral ng Pilipinas (BSP) Gov. Amando M. Tetangco Jr. cited that the financial reforms implemented under Ms. Arroyo’s watch “enabled the Philippine financial system to remain resilient amidst the global financial storm.” BSP Deputy Governor Nestor Espenilla Jr. also said that the country’s microfinance initiatives have been positively noted by international organizations, according to one of their reports.

However badly tarnished the outgoing president’s image might be, these initiatives have encouraged and allowed for small to medium businesses to flourish under her term. However, can the new administration keep entrepreneurs in high spirits as well? In Philippine Chamber of Commerce and Industry President Francis Chua’s first draft of a 100-day economic agenda for the new administration, he states that more reforms are “needed to improve the country’s business and investment climate”, including finding ways to reduce the cost of doing business and job creation.

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Thinking of putting up a business but unsure of what’s REALLY at stake? In today’s fickle economy, it is vital to get one’s bearings right in the process of breathing life into business ideas. Sign up for our FREE* Entrepreneurship Seminar on July 6, 2010 (Tuesday) and get everything you need to back up your entrepreneurial dreams! In this workshop, you will assess:

• The Entrepreneurial Personality and Mindset
• The Regulatory Considerations When Starting a Business
• The Business Plan
• Accounting for your Business
• Action Planning

For more details or to reserve a slot now, click here!

*Training fee waived –all you need to take care of is Php500 for lunch and training kit.

EAA 3rd Year Anniversary Seminar Offers

We would like to celebrate our 3^rd Year Anniversary this month by launching our all-new PACKAGED PROGRAMS!

We would like to take this opportunity to show our gratitude and give back by offering 2-3 bundled seminars which are aimed towards a ladderized form of higher learning particularly in the fields of accounting and finance for continuous organizational and individual career development.

With accounting as a vital, indispensable part of sustaining and managing businesses and organizations of all types and sizes –small to medium enterprises, corporations, profit and non-profit groups – Entrepreneurs Accounting Academy recognizes and puts emphasis on the need for practical business solutions in order to keep up with today’s volatile economy. Our programs are directed straight towards this thrust, hence the formulation of constantly updated programs that are abreast with the latest accounting and finance trends. We stand to deliver real solutions to real issues with our highly interactive seminars that put textbook theories into practice.

We, at Entrepreneurs Accounting Academy, are inviting you to check out our new offers which are guaranteed to be a worthy investment of your time. Click here to visit our website to see our regular offers and our Program Packages to see how you can save as much as Php6, 300!

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