The Philippines : Oojeema Online Accounting System: A smart, simple, and affordable cloud-based service for Filipino entrepreneurs

Joel Matira for Taragis.com writes: Web services provider Cid Systems recently launched in the Philippines the Oojeema Online Accounting System, a smart, simple, and affordable cloud-based service for financial management, inventory tracking, and Philippine tax computation, targeting Filipino entrepreneurs especially Micro-Small-Medium-Enterprises (MSMEs).

Oojeema uses a double entry accounting system as its core framework having its functions carefully built layer by layer making it sure that accounting principles are adapted. Cid Systems General Manager Lumeng Lim said, “In the Philippines, an overwhelming majority of businesses are MSMEs who can’t afford popular business software from global enterprise brands.  With Oojeema, they can now have access to a reliable accounting system that will help them automate various internal business processes.  It can make managing their business easier, whether they are home-grown start-ups, handling small stores or stalls in bazaars, or even doing online selling.”

Designed to run on most popular web browsers, Oojeema also has the capabilities to compute taxes and generate government reports and forms, in compliance with Philippine laws, eliminating the hassle of meeting the requirements of the Bureau of Internal Revenue. “With Oojeema, Filipino entrepreneurs can spend less hours on forms and reports, so they can go out and spend more time building relationships with customers, as well as innovating on their products and services to make them more creative, competitive, and profitable,” Lim said.

To experience Oojeema, sign up for a free account at www.oojeema.com.  This free account enables to enlist unlimited users, 5 invoices, 5 purchases, 20 bank reconciliations, and BIR Forms 1601E, 2551M, 2550 M/Q, and 2307.  But with a paid subscription of P800/month, subscribers can enlist unlimited users, invoices, purchases, and bank reconciliation, as well as the generation of BIR Forms.  Customers can also feedback about Oojeema through the system.

And here’s what you can do with Oojeema:

Invoices

• Create and send invoices online
• Apply payments to multiple invoices
• Import/Export bulk sales transactions

Inventory Tracking

• Add inventory item on the fly for a more efficient invoicing process
• Easily assign specific account codes to inventory items for detailed P & L reporting

Reports

• Generate profit and loss statements anytime
• Keep track of inventory by cross-matching
• Inventory sales and purchases
• Monitor aging of all transactions to have a better handle of your cash flow
• Generate government reports and forms (1601E, 2550M/Q, 2551M, 2307)

Purchases

• Record all purchases in the system to keep track of all your expenditures
• Apply payments across different billings from the same vendor
• Import/Export bulk purchase transactions

Auto Bank Reconciliation

• Upload your electronic bank statements and Oojeema will automatically reconcile your balance

Tax Support

• Sales Tax/Value Added Tax (VAT)
• Income Tax
• Withholding Tax