Authority to Use Books of Accounts in Loose-leaf Form

February 26, 1959 BIR RULING NO. 102-59 The Treasurer-Comptroller Pepsi-Cola Bottling Co. of the Philippine Islands, Inc. P.O. Box 2717, Manila S i r : Reference is made to your letter of the 9th instant, requesting that your home office in Quezon City and plants in the cities of Quezon, Cebu, Bacolod and Iloilo and in the province of Tarlac be authorized to use the following books of accounts in loose-leaf form: cdta 1. general ledger 2. journal book of original entry 3. subsidiaries for accounts receivables and payables 4. sales book 5. cash receipts book 6. voucher register 7. debit and credit memo registers 8. receipts and issues of materials register 9. checks register You also request that, instead of fifteen (15) days, you be given a period of sixty (60) days from the close of the calendar year within which to present said books for the purpose of authentication. In answer thereto, I have the honor to inform you that, as that corporation conducts its business on a large scale and, therefore, the use of ledgers, journals and other books of accounts in bound form will obviously cause much inconvenience, your request for authority to use said books in loose-leaf form is hereby granted, pursuant to Section 4 of Revenue Regulations No. V-1, otherwise known as the Bookkeeping Regulations. However, before the books are presented for authentication, they should be permanently bound and the pages thereof numbered consecutively. A sworn certificate attesting to the number of loose leaves used in each book must be submitted upon presentation of those books. Considering that with the volume of business of that corporation your request for a period longer than fifteen (15) days within which to present the aforesaid books for authentication is reasonable, the same is also granted but to the extent of thirty (30) days only. cdti Very truly yours, (SGD.) JOSE ARAAS Commissioner of Internal Revenue