Electronic official receipting is a facility developed to address online receipt issuance for merchants or any institutions offering online services and accepting payments. It was developed to address problems of accepting payments online/real-time from paying customers and but was unable to issue "real-time/online receipt" but instead revert back to issuing manual/paper issuance of their BIR-approved physical official receipts which most likely to be given when a product is received.
Receipting plays a valuable role in completion of transaction done by the merchant to fulfill services offered. Same manner as when you obtain a service that has fees, eventually receives official receipts when cash or settlement of payment was done. Now online has to be in a way approach as payment has been debited immediately by the system from the payor nd settles it with the merchants at the same time - therefore that entitles an immediate issuance of receipt.
This facility enables identifying of merchants online transactions sources against their over-the-counter sales/revenue streams from issued receipts reports for postings on their ledgers and accounting journals - and of course customers peace of mind of fulfilled transactions from the merchant.
Orders placed, payments received, official receipts issued. Simple, fast, legit.
Interested merchants need to apply for an ACCN to BIR via their RDO. If LT, it follows application submission via the national office or assigned LT facilitator on their region.
Merchants will be guided on installing the system on their premise initially to establish the facility installed at the merchant property. On this process, forms needed to submit to BIR will be generated from that installation together with PhilPaCS documentation to obtain an RDO issued ACCN. When issued, PhilPaCS will then activate the system via the ACCN issued.
The system is Free for all the merchants.
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A Product of Philippine Payments and Clearing System (PhilPaCS)