Professional Documents
Culture Documents
Illustrative Accounting Entries - Typical transactions of Central/Regional Offices and Operating Units (CO/RO/OU) receiving Notice of Cash Allocation direct from DBM. REGULAR AGENCY BOOKS Transactions CO/RO/OU Account Title Account Code 222 401 501 Debit 1,000 350 650 Credit
Beginning Balances
Receipt of allotment and NCA 1. Receipt of allotment for: Allotment Class CO MOOE PS FE Total 2. Receipt of Notice of Cash Allocation from DBM - P4,500 Payment of Expenses 3. Obligation for PS GAA CA 186
Posting in allotment column of the Registry of Allotments and ObligationsCapital Outlay, Maintenance and Other Operating Expenses, Personal Services and Financial Expenses
55 55 Cash - National Treasury, MDS Subsidy Income from National Government 102 601 4,500 4,500
P 500
Posting in obligation column of Registry of Allotments and Obligations - Personal Services 440 30 30 500 50 30 5 3 2 10 Salaries and Wages - Regular Pay PERA Additional Compensation Due to Officers and Employees Withholding Tax Payable GSIS Payable PAG-IBIG Payable PHILHEALTH Payable Other Payables 801 804 805 428 410 411 412 413 450 440 30 30 400 50 32 5 3 10
4. Recording of expenses Salaries PERA Additional Compensation Total Less: Salary Deductions. Withholding tax Life & Ret. premiums PAGIBIG premiums PHILHEALTH premiums GSIS-Salary loan Employees' Association Net Amount 5. Grant of Cash Advance for payroll - P400 6. Liquidation of Cash Advance 7. Remittance of Salary Deductions
100 400 Cash - Disbursing Officers Cash - National Treasury, MDS Due to Officers and Employees Cash - Disbursing Officers GSIS Payable PAG-IBIG Payable PHILHEALTH Payable Other Payables Cash - National Treasury, MDS 107 102 428 107 411 412 413 450 102 400 400 400 400 32 5 3 10 50
121
Annex A
Illustrative Accounting Entries - Typical transactions of Central/Regional Offices and Operating Units (CO/RO/OU) receiving Notice of Cash Allocation direct from DBM. REGULAR AGENCY BOOKS Transactions CO/RO/OU Account Title Account Code Debit Credit
8. Obligation for government share CA 186 - Life & Ret. Contribution GAA - PAG-IBIG Contribution GAA - PHILHEALTH Contribution
30 5 3 38
9. Remittance of Govt. Share CA 186 - Life & Ret. Contribution GAA - PAG-IBIG Contribution GAA - PHILHEALTH Contribution
30 5 3 38
Life and Retirement Insurance Contributions PAG-IBIG Contributions PHILHEALTH Contributions Cash - National Treasury, MDS
30 5 3 38
Receipt of Bills / Claim 10. Obligation for: Rent ( for 1 year) Office Supplies MERALCO bill PLDT bill Travelling expense of Mr. Alex Cruz TOTAL 11. Payment of one year rent (July 1, 2002 to June 30, 2003) 12. Advance payment to Procurement Service (PS) for office supplies 13. Receipt of office supplies and invoice from Procurement Service. 14. Payment of MERALCO bill
Posting in obligation column of Registry of Allotments and Obligations - Maintenance and Other Operating Expenses
Prepaid Rent Cash - National Treasury, MDS Due from NGAs Cash - National Treasury, MDS Office Supplies Inventory Due from NGAs Electricity Cash - National Treasury, MDS Telephone/Telegraph and Internet Cash - National Treasury, MDS Due from Officers and Employees Cash - National Treasury, MDS Traveling Expense - Local Due from Officers and Employees Cash - Collecting Officers Due from Officers and Employees
161 102 130 102 149 130 835 102 837 102 128 102 831 128 106 128
150
16. Granting of cash advance for travel of Mr. Alex Cruz 17. Liquidation of cash advance for travel of Mr. Alex Cruz 18. Refund of excess cash advance for travelling expense of Mr. Alex Cruz
122
Annex A
Illustrative Accounting Entries - Typical transactions of Central/Regional Offices and Operating Units (CO/RO/OU) receiving Notice of Cash Allocation direct from DBM. REGULAR AGENCY BOOKS Transactions CO/RO/OU Account Title Account Code Debit Credit
19. Adjustment of obligation by P12 for refund of excess advance for traveling expense
Negative posting in obligation column of Registry of Allotments and Obligations Maintenance and Other Operating Expenses Subsidy Income from National Government Cash - Collecting Officers 601 106 12 12
20. Deposit of collection from excess advance to BTr Petty Cash Fund 21. Obligation for Petty Cash Fund (PCF) for - P35
Posting in obligation column of Registry of Allotments and Obligations Maintenance and Other Operating Expenses Petty Cash Fund Cash - National Treasury, MDS Posting in obligation column of Registry of Allotments and Obligations Maintenance and Other Operating Expenses Office Supplies Expenses Postage and Deliveries Cash - National Treasury, MDS 849 838 102 20 10 30 105 102 35 35
20 10 30
25. Closing of the Petty Cash Fund within the year due to retirement of the PCF Custodian 26. Adjustment of obligation for refunded PCF per ALOBS supported by Official Receipt
Cash - Collecting Officers Petty Cash Fund Negative posting in obligation Registry of Allotments and Obligations Maintenance and Other Operating Expenses Subsidy Income from NG Cash - Collecting Officers Posting in obligation column of Registry of Allotments and Obligations Maintenance and Other Operating Expenses Petty Cash Fund Cash - National Treasury, MDS
106 105
5 5
27. Deposit of collection from refund of Petty Cash Fund 28. Obligation for Petty Cash Fund for - P35 for the newly designated PCF Custodian
601 106
5 5
29. Establishment of Petty Cash Fund for the newly designated PCF Custodian Purchase of Equipment 30. Obligation for office equipment per Purchase Order - P100
105 102
35 35
123
Annex A
Illustrative Accounting Entries - Typical transactions of Central/Regional Offices and Operating Units (CO/RO/OU) receiving Notice of Cash Allocation direct from DBM. REGULAR AGENCY BOOKS Transactions CO/RO/OU Account Title Account Code 130 102 222 130 Debit 100 100 100 100 Credit
Due from NGAs Cash - National Treasury, MDS Office Equipment Due from NGAs Posting in obligation column of Registry of Allotments and Obligations Capital Outlay IT Equipment and Software Accounts Payable Accounts Payable Cash - National Treasury, MDS Withholding Taxes Payable
32. Receipt of office equipment based on Invoice/ delivery receipt 33. Obligation prior to approval of purchase order for IT Software - P400
34. Receipt of IT Software based on invoice/delivery receipt from Computer Technologies (corporation) 35. Payment of IT Software to Computer Technologies Gross 400 Less: Withholding Tax (VAT) 36 364 Construction of Building 36. Obligation for building prior to the signing of the contract - P700
Posting in obligation column of Registry of Allotments and Obligations Capital Outlay Cash - Collecting Officers Performance/Bidders/Bail Bonds Payable Due from National Treasury Cash - Collecting Officers Advances to Contractors Cash - National Treasury, MDS Construction in Progress - Agency Assets Accounts Payable Advances to Contractors 106 414 134 106 168 102 230 401 168 50 50 50 50 105 105 350 300 50
37. Receipt of cash from the contractor paid as performance bond 38. Deposit of ( cash) performance bond to BTr thru AGDB 39. Payment of 15% of contract amount as advances to contractor - P700 x 15% 40. Receipt of 1st progress billing for building 50% of P700 Less: Recoupment Net Amount 41. Payment of 1st progress billing for building Accounts Payable Less: 10% Retention 35 Withholding Tax 27 Net Amount
P350 50 P300
300 62 238
Accounts Payable Cash - National Treasury, MDS Guaranty Deposits Payable Withholding Taxes Payable
300 238 35 27
124
Annex A
Illustrative Accounting Entries - Typical transactions of Central/Regional Offices and Operating Units (CO/RO/OU) receiving Notice of Cash Allocation direct from DBM. REGULAR AGENCY BOOKS Transactions CO/RO/OU Account Title Account Code 230 401 168 Debit 340 285 55 Credit
42. Receipt of final billing for building 50% of P700 (delayed completion) Less: Liquidated Damages Net Amount Less: Recoupment Amount Due 43. Adjustment of RAOCO by P10 to reduce original amount of obligation due to liquidated damages
Posting in obligation column of Registry of Allotments and Obligations Capital Outlay Accounts Payable Cash - National Treasury, MDS Withholding Taxes Payable 401 102 410 285 253 32
44. Final payment for building Accounts Payable Less: 10% Withholding Tax (VAT) Net Amount 45. Turn-over & acceptance of building Contract Amount Less: Liquidated Damages Net Cost Transfer of Funds to Implementing Agency 46. Obligation prior to approval of transfer of cash to another agency for construction of building-P250
285 32 253
700 10 690
204 230
690 690
Posting in obligation column of Registry of Allotments and Obligations Capital Outlay Due from NGAs Cash - National Treasury, MDS Buildings Due from NGAs 130 102 204 130 250 250 250 250
48. Receipt of liquidation reports/turn-over of building by IA - P250 Fund Assistance to NGOs/POs 49. Approval of fund assistance to NGOs/POs - P150 for livelihood project
Posting in obligation column of Registry of Allotments and Obligations Maintenance and Other Operating Expenses Due from NGOs/POs Cash - National Treasury, MDS 133 102 150 150
51. Receipt of liquidation reports from NGOs / POs Travelling Expense-Local Training and seminar expenses Office supplies expense Total
50 30 20 100
Travelling Expense-Local Training and Seminar Expenses Office Supplies Expense Due from NGOs/POs
50 30 20 100
125
Annex A
Illustrative Accounting Entries - Typical transactions of Central/Regional Offices and Operating Units (CO/RO/OU) receiving Notice of Cash Allocation direct from DBM. REGULAR AGENCY BOOKS Transactions CO/RO/OU Account Title Account Code Debit Credit
Grants and Donations 52. Obligation of amount for tuition fees of employees (under scholarship grants) - P70
Posting in obligation column of Registry of Allotments and Obligations Maintenance and Other Operating Expenses Grants and Donations Accounts Payable Accounts Payable Cash - National Treasury, MDS Posting in obligation column of Registry of Allotments and Obligations Maintenance and Other Operating Expenses Grants and Donations Cash - National Treasury, MDS Cash - National Treasury, MDS Subsidy Income from National Government Accounts Payable Cash - National Treasury, MDS 889 102 102 601 401 102 50 50 350 350 200 200 889 401 401 102 70 70 70 70
53. Recording of the bill from educational institution for tuition fees of scholars 54. Payment of tuition fees of scholars
56. Payment of stipend/book allowance to scholars Payment thru ADA 57. Receipt of NCA for PY accounts payable - P350
Public Infrastructures 59. Receipt of cash from contractor paid as performance bond for the construction of roads 60. Deposit of cash (performance bond) to BTr thru AGDB
Cash - Collecting Officers Performance/Bidders/Bail Bonds Payable Due from National Treasury Cash - Collecting Officers Posting in obligation column of Registry of Allotments and Obligations Capital Outlay Advances to Contractors Cash - National Treasury, MDS
62. Payment of 15% of contract amount for the advances to the contractor for the construction of roads P2,000 x 15% 63. Receipt of progress billing for construction of roads 50% of P2,000 1000 Less: Recoupment 150 Net Amount 850
168 102
300 300
Construction in Progress - Roads, Highways and Bridges Accounts Payable Advances to Contractors
126
Annex A
Illustrative Accounting Entries - Typical transactions of Central/Regional Offices and Operating Units (CO/RO/OU) receiving Notice of Cash Allocation direct from DBM. REGULAR AGENCY BOOKS Transactions CO/RO/OU Account Title Account Code 401 102 410 408 Debit 850 660 90 100 Credit
64. Payment of bill for the construction of roads Accounts Payable (1,000 -150) Less: Withholding Tax 90 10% Retention 100 Net Amount 65. Presentation of final billing for roads 50% of P2,000 Less: Liquidated Damages Net Cost Less: Recoupment Amount Due
Accounts Payable Cash - National Treasury, MDS Withholding Taxes Payable Guaranty Deposits Payable
Construction in Progress - Roads, Highways and Bridges Accounts Payable Advances to Contractors
Negative posting in obligation column of Registry of Allotments and Obligations Capital Outlay Accounts Payable Cash - National Treasury, MDS Withholding Taxes Payable Guaranty Deposits Payable 401 102 410 408 800 619 86 95
67. Payment of final bill for the construction of roads Accounts Payable Less: Withholding Tax 86 10% Retention 95 Net Amount 68. Turn-over and acceptance of roads Contract amount Less: Liquidated Damages Net Cost Remittance of Withholding Taxes Thru TRA 69. Remittance of Withholding Tax thru TRA Salaries IT Software (Corporation) Building (Corporation) Roads (Corporation) Total
2,000 50 1,950
243 232
1,950 1,950
50 36 59 176 321
410 601
321 321
Release of Performance Bond 70. Receipt of NCA for deposited performance bonds received Cash-National Treasury, MDS from contractors for the construction of the following: Due from National Treasury Building Roads Total 71. Refund of performance bonds to contractors . 50 150 200 Performance/Bidders/Bail Bonds Payable Cash-National Treasury, MDS
102 134
200 200
414 102
200 200
408
406
127
Annex A
Illustrative Accounting Entries - Typical transactions of Central/Regional Offices and Operating Units (CO/RO/OU) receiving Notice of Cash Allocation direct from DBM. REGULAR AGENCY BOOKS Transactions CO/RO/OU Account Title Account Code 102 Debit Credit 406
Issuance of Supplies and Materials 73. Receipt of the Report of Supplies and Materials Issued Office Supplies Expenses from the Property/Supply Unit Office Supplies Inventory office supplies - P140 Adjusting Entries 74. Recording of depreciation for the following: Cost Buildings 690 IT Equipment 400 Office Equipment 100 Total 1,190 75. Rent expense for the year
849 149
140 140
Depn. 35 40 10 85
Depreciation - Buildings Depreciation - IT Equipment Depreciation - Office Equipment Acc. Depn. - Buildings Acc. Depn. - IT Equipment Acc. Depn. - Office Equipment Rent Expense Prepaid Rent
35 40 10 35 40 10 35 35
128
Annex A
Illustrative Accounting Entries - Typical transactions of Central/Regional Offices and Operating Units (CO/RO/OU) receiving Notice of Cash Allocation direct from DBM. REGULAR AGENCY BOOKS Transactions CO/RO/OU Account Title Account Code Debit Credit
CLOSING ENTRIES 1. Unused NCA Subsidy Income from National Government Cash-National Treasury, MDS Subsidy Income from National Government Income and Expense Summary 601 102 601 533 187 187 2,667 2,667
3. Expenses
Income and Expense Summary Salaries and Wages-Regular Payroll PERA Additional Compensation Life and Ret. Insurance Contribution PAG-IBIG Contribution PHILHEALTH Contribution Traveling Expense, Local Training and Seminar Fees Electricity Telephone/Telegraph and Internet Postage and Deliveries Rent Expenses Office Supplies Expenses Grants and Donations Depreciation - Buildings Depreciation - IT Equipment Depreciation - Office Equipment Income and Expense Summary Retained Operating Surplus Retained Operating Surplus Government Equity Government Equity Public Infrastructures
535 801 804 805 817 818 819 831 833 835 837 838 841 849 890 904 915 922 532 534 534 501 501 243
1,131 440 30 30 30 5 3 148 30 50 40 10 70 40 120 35 40 10 1,536 1,536 1,536 1,536 1,950 1,950
129
Annex B
Illustrative Accounting Entries - Typical transactions of Central/Regional Offices and Operating Units (CO/RO/OU) receiving Notice of Cash Allocation direct from DBM and ROs/OUs receiving funding checks from CO/RO. CENTRAL OFFICE (CO) Transactions Account Title
Account Code Debit Credit
Receipt of Allotment/NCA andTransfer of Subsidy 1. Receipt of allotment for: Allotment Class CO MOOE PS Total 2. Receipt of Notice of Allocation from DBM CO 1,800 260 200 2,260 CO 2,000 RO Posting in allotment column of OU Registry of Allotments and ObligationsCapital Outlay, Maintenance and Other Operating Expenses, Personal Services 150 150 OU Cash - National Treasury, MDS 150 Subsidy Income from National Government Negative posting in allotment column of Registry of Allotments and ObligationsCapital Outlay 102 601 2,000 2,000 Posting in allotment column of Registry of Allotments and ObligationsMaintenance and Other Operating Expenses, Personal Services Posting in allotment column of Registry of Allotments and ObligationsMaintenance and Other Operating Expenses, Personal Services
Cash - National Treasury, MDS Subsidy Income from National Government Posting in allotment column of Registry of Allotments and ObligationsCapital Outlay
102 601
250 250
102 601
150
3. Release of sub-allotment to Regional Offices Allotment Class MOOE CO Total 4. Release of Letter Advice of Allotment to OU Allotment Class MOOE CO Total 5. Transfer of subsidy to Regional Office thru funding check or fund transfer 6. Transfer of subsidy to Operating Unit thru funding check or fund transfer Payment of Expenses 7. Obligation for Personal Services
OU 50 700 750 Subsidy to Regional Offices/Staff Bureaus Cash - National Treasury, MDS 1,400 538 102 1,400 1,400
Negative posting in allotment column of Registry of Allotments and ObligationsCapital Outlay, Maintenance and Other Operating Expenses
Posting in allotment column of Registry of Allotments and ObligationsCapital Outlay, Maintenance and Other Operating Expenses
110 602
1,400 1,400
539 110
600 600
Cash in Bank-Local Currency, Curr. Acct. Subsidy from Regional Office/Staff Bureau
110 603
600
CO 140
RO 250
130
Annex B
Illustrative Accounting Entries - Typical transactions of Central/Regional Offices and Operating Units (CO/RO/OU) receiving Notice of Cash Allocation direct from DBM and ROs/OUs receiving funding checks from CO/RO. CENTRAL OFFICE (CO) Transactions 8. Recording of expenses for salaries and wages CO 125 10 5 140 14 6 2 1 23 117 CO 117 RO 226 16 8 250 25 12 4 2 43 207 RO 207 Salaries and Wages-Regular Pay OU PERA 118 Additional Compensation 8 Withholding Taxes Payable 4 GSIS Payable 130 PAGIBIG Payable PHILHEALTH Payable 13 Due from Officers and Employees 5 2 1 21 109 OU Cash-Disbursing Officers 109 Cash - National Treasury, MDS Due from Officers and Employees Cash-Disbursing Officers GSIS Payable PAG-IBIG Payable PHILHEALTH Payable Cash - National Treasury, MDS Withholding Taxes Payable Subsidy Income from National Government 801 804 805 410 411 412 413 128 125 10 5 14 6 2 1 117 Salaries and Wages-Regular Pay PERA Additional Compensation Withholding Taxes Payable GSIS Payable PAGIBIG Payable PHILHEALTH Payable Due from Officers and Employees 801 804 805 410 411 412 413 128 226 16 8 25 12 4 2 207 Salaries and Wages-Regular Pay PERA Additional Compensation Withholding Taxes Payable GSIS Payable PAGIBIG Payable PHILHEALTH Payable Due from Officers and Employees 801 804 805 410 411 412 413 128 118 8 4 Account Title
Account Code Debit Credit
Salaries & Wages - Regular Pay PERA Additional Compensation Total Less: Withholding Tax GSIS Life & Ret. Premiums PAGIBIG Premiums PHILHEALTH Premiums Net 9. Granting of Cash Advance
107 102 128 107 411 412 413 102 410 601
Cash-Disbursing Officers Cash - National Treasury, MDS Due from Officers and Employees Cash-Disbursing Officers
107 102 128 107 411 412 413 102 410 601
Cash-Disbursing Officer Cash - National Treasury, MDS Due from Officers and Employees Cash-Disbursing Officer
107 102 128 107 411 412 413 102 410 601
109
10. Liquidation of Cash Advance Remittance of Salary Deductions 11. Remittance of Salary Deductions
109
GSIS Payable PAG-IBIG Payable PHILHEALTH Payable 9 Cash - National Treasury, MDS Withholding Taxes Payable Subsidy Income from National Government
GSIS Payable PAG-IBIG Payable PHILHEALTH Payable 18 Cash - National Treasury, MDS Withholding Taxes Payable Subsidy Income from National Government
5 2 1
14 14
25 25
13
Receipt of Bills/Claims 13. Receipt of bills from Meralco and PLDT 13.1 Obligation
posting in obligation column of Registry of Allotments and ObligationsMaintenance and Other Operating Exp.
posting in obligation column of Registry of Allotments and ObligationsMaintenance and Other Operating Exp.
posting in obligation column of Registry of Allotments and ObligationsMaintenance and Other Operating Exp.
13.2 Recording of payables based on bills received CO 30 10 40 RO 40 15 55 OU Electricity 8 Telephone/Telegraph and Internet 5 Accounts Payable 13 Accounts Payable Cash - National Treasury, MDS 835 837 401 30 10 Electricity Telephone/Telegraph and Internet 40 Accounts Payable 835 837 401 40 15 Electricity Telephone/Telegraph and Internet 55 Accounts Payable 835 837 401 8 5
MERALCO PLDT
401 102
40 40
401 110
55 55
401 110
13
Posting in obligation column of Registry of Allotments and ObligationsMaintenance and Other Operating Exp.
Posting in obligation column of Registry of Allotments and ObligationsMaintenance and Other Operating Exp.
Posting in obligation column of Registry of Allotments and ObligationsMaintenance and Other Operating Exp.
131
Annex B
Illustrative Accounting Entries - Typical transactions of Central/Regional Offices and Operating Units (CO/RO/OU) receiving Notice of Cash Allocation direct from DBM and ROs/OUs receiving funding checks from CO/RO. CENTRAL OFFICE (CO) Transactions 15.2. Grant of Cash Advance CO 8 16. Liquidation of Cash Advance for travel 17. Collections 17.1. Receipt of collection Overpayment of salaries Refund of Cash Advance-travel CO 5 RO 10 RO 8 Account Title OU Due from Officers and Employees 12 Cash - National Treasury, MDS OU Travelling Expense - Local 7 Due from Officers and Employees
Account Code Debit Credit
REGIONAL OFFICE (RO) Account Title Due from Officers and Employees Cash in Bank-Local Currency, Curr. Acct. Travelling Expense - Local Due from Officers and Employees
Account Code Debit Credit
OPERATING UNITS Account Title Due from Officers and Employees Cash in Bank-Local Currency, Curr. Acct. Travelling Expense - Local Due from Officers and Employees
Account Code Debit
8 8 5 5
10 10 8 8
12
CO 5 3 8
RO 3 2 5
OU 2 Cash-Collecting Officers 5 Due from Officers and Employees 7 Salaries and Wages-Regular Pay Negative posting in obligation column of Registry of Allotments and ObligationsMaintenance and Other Operating Expenses and Personal Services Subsidy Income from National Government Cash-Collecting Officers
8 3 5
Cash-Collecting Officers Due from Officers and Employees Salaries and Wages-Regular Pay Negative posting in obligation column of Registry of Allotments and ObligationsMaintenance and Other Operating Expenses and Personal Services
5 2 3
Cash-Collecting Officers Due from Officers and Employees Salaries and Wages-Regular Pay Negative posting in obligation column of Registry of Allotments and ObligationsMaintenance and Other Operating Expenses and Personal Services
601 106
Subsidy Income from National Government 8 Cash in Bank-Local Currency, Curr. Acct. Cash-Collecting Officers Posting in allotment column of Registry of Allotments and ObligationsMaintenance and Other Operating Exp.
3 2
Subsidy Income from National Government Cash in Bank-Local Currency, Curr. Acct. 5 Cash-Collecting Officers Posting in allotment column of Registry of Allotments and ObligationsMaintenance and Other Operating Exp.
2 5
CO 12
RO 3
OU Posting in allotment column of 2 Registry of Allotments and ObligationsMaintenance and Other Operating Exp. Prepaid Rent Cash - National Treasury, MDS Posting in obligation column of Registry of Allotments and ObligationsMaintenance and Other Operating Exp. 161 102 12 12
18.2. Payment 19. Purchase of Office Supplies 19.1. Earmarking of fund prior to signing of Purchase Order (PO)
Prepaid Rent Cash in Bank-Local Currency, Curr. Acct. Posting in obligation column of Registry of Allotments and ObligationsMaintenance and Other Operating Exp.
161 110
3 3
Prepaid Rent Cash in Bank-Local Currency, Curr. Acct. Posting in obligation column of Registry of Allotments and ObligationsMaintenance and Other Operating Exp.
161 110
CO 30
RO 35
149 401
30 30
149 401
35 35
149 401
20
Posting in obligation column of Registry of Allotments and ObligationsCapital Outlay No Entry 222 401 401 102 401 50 80 72 8 Office Equipment 50 Accounts Payable Accounts Payable Cash in Bank-Local Currency, Curr. Acct. Withholding Taxes Payable 222 401 401 110 410 135 170 154 16
Posting in obligation column of Registry of Allotments and ObligationsCapital Outlay No Entry Office Equipment 135 Accounts Payable Accounts Payable Cash in Bank-Local Currency, Curr. Acct. Withholding Taxes Payable 222 401 401 110 410 120 140
20.2. Serving of PO to dealer 20.3. Receipt of Equipment with Invoice 21. Payment of Payables for supplies and equipment Total Less: Withholding Taxes CO 50 CO 80 8 72 RO 135 RO 170 16 154
OU Office Equipment 120 Accounts Payable OU 140 14 126 Accounts Payable Cash - National Treasury, MDS Withholding Taxes Payable
132
Annex B
Illustrative Accounting Entries - Typical transactions of Central/Regional Offices and Operating Units (CO/RO/OU) receiving Notice of Cash Allocation direct from DBM and ROs/OUs receiving funding checks from CO/RO. CENTRAL OFFICE (CO) Transactions Construction of Building 22. Construction of Building 22.1. Earmaking of funds prior to Signing of contract Account Title
Account Code Debit Credit
CO 200
RO 600
OU Posting in obligation column of 500 Registry of Allotments and ObligationsCapital Outlay Advances to Contractors Cash - National Treasury, MDS 168 102 230 401 168 401 102 410 30 30 150 120 30 120 105 15
Posting in obligation column of Registry of Allotments and ObligationsCapital Outlay Advances to Contractors Cash in Bank-Local Currency, Curr. Acct. Construction in Progress-Agency Assets Accounts Payable Advances to Contractors Accounts Payable Cash in Bank-Local Currency, Curr. Acct. Withholding Taxes Payable 168 110 230 401 168 401 110 410 90 90 400 310 90 310 270 40
Posting in obligation column of Registry of Allotments and ObligationsCapital Outlay Advances to Contractors Cash in Bank-Local Currency, Curr. Acct. Construction in Progress-Agency Assets Accounts Payable Advances to Contractors Accounts Payable Cash in Bank-Local Currency, Curr. Acct. Withholding Taxes Payable 168 110 230 401 168 421 102 410 75
CO 150
RO 400
OU Construction in Progress-Agency Assets 300 Accounts Payable Advances to Contractors OU Accounts Payable 225 Cash - National Treasury, MDS 30 Withholding Taxes Payable 195 OU Construction in Progress-Agency Assets 200 Accounts Payable OU Accounts Payable 200 Cash - National Treasury, MDS 20 Withholding Taxes Payable 180
300
CO 120 15 105 CO 50 CO 50 5 45
225
22.5. Receipt of final billing for the completion of the building 22.6. Payment of final billing Total Less: Withholding Tax Net Amount 22.7. Transfer to account to Building after completion & turn-over 23. Remittance of taxes thru TRA
50 50 50 45 5
Construction in Progress-Agency Assets Accounts Payable Accounts Payable Cash in Bank-Local Currency, Curr. Acct. Withholding Taxes Payable
Construction in Progress-Agency Assets Accounts Payable Accounts Payable Cash in Bank-Local Currency, Curr. Acct. Withholding Taxes Payable
200
200
CO 200 CO 28 CO 25
RO 600 RO 76 RO 30
OU Buildings 500 Construction in Progress-Agency Assets OU Withholding Taxes Payable 64 Subsidy Income from NG OU Office Supplies Expenses 14 Office Supplies Inventory
200 200 28 28 25 25
Buildings Construction in Progress-Agency Assets Withholding Taxes Payable Subsidy Income from NG Office Supplies Expenses Office Supplies Inventory
600 600 76 76 30 30
Buildings Construction in Progress-Agency Assets Withholding Taxes Payable Subsidy Income from NG Office Supplies Expenses Office Supplies Inventory
500
64
24. Issuance of office supplies per RSMI ADJUSTING ENTRIES 1. Recording of actual rent expense
14
CO 12
RO 3
841 161
12 12
841 161
3 3
841 161
2. Depreciation Buildings Office Equipment Total CO 10 5 15 RO 30 12 42 OU 25 Depreciation - Buildings 12 Depreciation - Office Equipment 37 Accum. Depn. - Buildings Accum. Depn. - Office Equipment 904 922 304 322 10 5 Depreciation - Buildings Depreciation - Office Equipment 10 Accum. Depn. - Buildings 5 Accum. Depn. - Office Equipment 904 922 304 322 30 12 Depreciation - Buildings Depreciation - Office Equipment 30 Acc. Depn. - Buildings 12 Acc. Depn. - Office Equipment 904 922 304 322 25 12
133
Annex B
Illustrative Accounting Entries - Typical transactions of Central/Regional Offices and Operating Units (CO/RO/OU) receiving Notice of Cash Allocation direct from DBM and ROs/OUs receiving funding checks from CO/RO. CENTRAL OFFICE (CO) Transactions CLOSING ENTRIES 1. Adjustment of RAO for unobligated allotment CO PS 90 MOOE 30 120 Account Title
Account Code Debit Credit
RO 25 17 42
OU Posting in allotment column of 22 Registry of Allotments and Obligations 8 Maintenance and Other Operating Exp. 30
Posting in allotment column of Registry of Allotments and Obligations Maintenance and Other Operating Exp.
Negative posting in allotment column of Registry of Allotments and Obligations Maintenance and Other Operating Exp.
2. Setting up of liability of OU for unrefunded cash equivalent to the unobligated allotment for MOOE 3. Setting up of liability of RO for unrefunded cash equivalent to the unobligated allotment for MOOE 4. Reversion of Unused NCA Due from Regional Offices/Staff Bureaus Subsidy to Regl.Offices/Staff Bureaus Subsidy Income from National Government Cash-National Treasury, MDS Subsidy Income from National Government Income and Expense Summary 136 538 601 102 601 532 17 17 131 131 1,903
Due from Operating Units Subsidy to Operating Units Subsidy from Central Office Due to Central Office Subsidy Income from National Government Cash-National Treasury, MDS
137 539 602 435 601 102 601 602 532 532 801 804 805 831 835 837 841 849 539 904 922 533 502 502 501
8 8 17 17 22 22 326 1,383
603 446
601 102 601 603 532 532 801 804 805 831 835 837 841 849 904 922 533 502 502 501
32
Subsidy Income from National Government 1,903 Subsidy from CO Income and Expense Summary Income and Expense Summary Salaries and Wages-Regular Payroll PERA Additional Compensation Traveling Expense, Local Electricity Telephone/Telephone/Internet Rent Expenses Office Supplies Expenses Subsidy to Operating Units Depreciation - Buildings Depreciation - Office Equipment Income and Expense Summary Retained Operating Surplus Retained Operating Surplus Government Equity
Subsidy Income from National Government Subsidy from Regional Office/Staff Bureau 1,709 Income and Expense Summary Income and Expense Summary Salaries and Wages-Regular Payroll PERA Additional Compensation Traveling Expense, Local Electricity Telephone/Telephone/Internet Rent Expenses Office Supplies Expenses Depreciation - Buildings Depreciation - Office Equipment Income and Expense Summary Retained Operating Surplus Retained Operating Surplus Government Equity
193 592
6. Expenses
Income and Expense Summary Salaries and Wages-Regular Payroll PERA Additional Compensation Traveling Expense, Local Electricity Telephone/Telegraph and Internet Rent Expenses Office Supplies Expenses Subsidy to Regional Offices/Staff Bureaus Depreciation - Buildings Depreciation - Office Equipment Income and Expense Summary Retained Operating Surplus Retained Operating Surplus Government Equity
532 801 804 805 831 835 837 841 849 538 904 922 533 502 502 501
201
584
584
134
Annex B
ITS
Credit
150
600
135
Annex B
ITS
Credit
13 5 2 1 109
109
109
13
13
13
136
Annex B
ITS
Credit
12
5 2
20
120
126 14
137
Annex B
ITS
Credit
75
225 75
195 30
200
180 20
500
64
14
25 12
138
Annex B
ITS
Credit
32
785
116 8 4 7 8 5 2 14 25 12
584
584
139
Annex C
Illustrative Accounting Entries - Typical Transactions of Agencies with Collections/Income to be recorded in the National Government (NG) Books Agency - National Government Books Transactions Account Debit Account Title
Code
Credit
Beginning Balances:
Cash - Collecting Officers Accounts Receivables Due to National Treasury Income from Govt. Services
Due to National Treasury Income from Govt. Services Cash Collecting Officers Cash - Collecting Officers Accounts Receivables Due to National Treasury Cash Collecting Officers
3. Deposit of collections of prior years' receivables B. Current Year's Income 4. Billing of operating and service income
Accounts Receivables Due to National Treasury Income from Govt. Services Cash - Collecting Officers Accounts Receivables Cash - Collecting Officers Due to National Treasury Income Tax -Individuals Income Tax -Partnerships Income Taxes -Corporations Capital Gross Tax Value Added Tax Fines and Penalties
121 433 3,000 106 121 106 433 400 300 1,200 100 150 50
3,000 3,000
5. Collection of billed operating and service income 6. Collection of taxes Source Income Tax-Individuals Income Tax -Partnerships Income Tax -Corporations Property Transfer Tax Value Added Tax Fines and Penalties Total 7. Collection of rentals Amount 400 300 1,200 100 150 50 2,200
300 300
Note: Subsidiary Ledger (SL) accounts shall be provided for "Due to National Treasury" account. The code of the income accounts under the Chart of Accounts shall be used as SL accounts and shall be indicated in the List of Collections which shall be submitted to the BTr.
135
Annex C
Illustrative Accounting Entries - Typical Transactions of Agencies with Collections/Income to be recorded in the National Government (NG) Books Agency - National Government Books Transactions Account Debit Account Title
Code
Credit
Due to National Treasury Income Tax -Individuals Income Tax -Partnerships Income Taxes -Corporations Capital Gross Tax Value Added Tax Fines and Penalties Cash - Collecting Officers Due to National Treasury Rent Income Cash - Collecting Officers
433 400 300 1,200 100 150 50 106 433 300 106
2,200
b. Rent Income
C. Accounting for Collection of Out-of-Town Checks with Bank Charges - Income from Government Services - P2,000 9. Collection upon issuance of OR Cash - Collecting Officers Due to National Treasury Income from Govt. Services Due to National Treasury Income from Govt. Services Cash - Collecting Officers 106 433 2,000 433 2,000 106 2,000 2,000 2,000 2,000
D. Accounting for Foreign Exchange Loss 11. Collection of Income from Govt. Services - $100 @ P50 Cash - Collecting Officers Due to National Treasury Income from Govt. Services Due to National Treasury Income from Govt. Services Cash - Collecting Officers 106 433 500 433 500 106 500 500 500 500
Note:There will be no bank charges and and foreign exchange loss to be ecorded in the agency's NG books.
Note: Subsidiary Ledger (SL) accounts shall be provided for "Due to National Treasury" account. The code of the income accounts under the Chart of Accounts shall be used as SL accounts and shall be indicated in the List of Collections which shall be submitted to the BTr.
136