Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
S
TRANSCATIONS
Prepared by
reported as follows:
Unclaimed stale checks which are still with Cashier shall be cancelled
ILLUSTRATION
A check issued by agency Lee Sod of the national
government in the amount of Php 10,000 becomes
stale. Accordingly, the stale check, which is still in
the possession of the payee, was cancelled and
new check is issued for replacement. Since, the
check was issued in the previous year, the
corresponding NCA was requested in the same
year and received in the current year.
Particulars
Account Title
Acct.
Code
Debit
Check cancellation
Government Equity
3-01-01-010 10,000
Accounts Payable
2-01-01-010
Cash-MDS,Regular
1-01-04-040 10,000
4-03-01-010
Accounts payable
2-01-01-010 10,000
Cash-MDS, Regular
1-01-04-040
Credit
10,00
0
10,00
0
10,00
0
Particulars
Account Title
Acct.
Code
Check cancellation
Cash-MDS, Regular
1-01-01-040 10,000
Accounts Payable
2-01-01-010
Accounts payable
2-01-01-010 10,000
Cash-MDS, Regular
1-01-04-040
Debit
Credit
10,00
0
10,00
0
ILLUSTRATION
The resident auditor of agency Keith
disallowed payments made by the
disbursing officer of Agency Keith in the
amount of Php 10,000, which pertains to
overstatement of expenses in prior year.
Accordingly, the disbursing officer settled
the disallowance.
Case 1. If the disallowance is not recorded in the books (AR was recorded)
Particulars
Collection of settlement
Account Title
Cash-Collecting Officer
1-01-01-010
Government Equity
3-01-01-010
Government Equity
3-01-01-010
Acct.
Code
Cash-Collecting Officer
Books of Bureau of Treasury Cash in Bank-LC,
Savings Account
Government Equity
1-01-01-010
1-01-02-030
3-01-01-010
Debit
Credit
10,00
0
10,00
0
10,00
0
10,00
0
10,00
0
10,00
0
Particulars
Collection of settlement
Account Title
Cash-Collecting Officer
Acct.
Code
1-01-01-010
Receivable1-03-05-010
Disallowance/Charges
To record of remittance of the Bureau of Treasury
Books of Agency Keith
Subsidy from National
4-03-01-010
Government
Cash-Collecting Officer 1-01-01-010
Books of Bureau of Treasury Cash in Bank-LC,
Savings Account
Other Service Income
1-01-02-030
4-02-01-990
Debit
Credit
10,00
0
10,00
0
10,00
0
10,00
0
10,00
0
10,00
0
Particulars
Collection of settlement
Account Title
Acct.
Code
Cash-Collecting Officer
1-01-01-010
Accounts Receivable
1-03-01-010
Government
Cash-Collecting Officer 1-01-01-010
Debit
Credit
10,00
0
10,00
0
10,00
0
10,00
0
SETTLEMENT OF CHARGES
If the suspension/disallowance is for the current year, the
ILLUSTRATION
The disbursing officer of Agency Kohg Mou of the
national government settled its accountability in
the amount of Php 15,000. However, the
resident auditor of Agency Kohg Mou found that
his accountability was Php 20,000 due to
disallowance of several payments made by the
disbursing officer. When informed the disbursing
officer settled the charges.
Case. 1 If the disallowance of Php 15,000 was made during the prior year and
settled in the same year, and the resident auditor discovered the additional
disallowance in the current year
Particulars
Additional Charges
Settlement of
Disallowance
Account Title
Receivables
Disallowances/ Charges
Government Equity
Account Code
Debit
1-03-05-010 5,000
3-01-01-010
Credit
5,000
5,000
5,000
Case. 1 If the disallowance of Php 15,000 was made and settled during the
current year, and the resident auditor discovered the additional disallowance in the
same current year
Particulars
Additional Charges
Settlement of
Disallowance
Account Title
Receivables
Disallowances/ Charges
Other Services Income
Account Code
Debit
1-03-05-010 5,000
04-02-01990
Cash Collecting officer 1-01-01010
Receivables
1-03-05Disallowances/ Charges 010
Credit
5,000
5,000
5,000
REFUND OF OVERPAYMENT
Sometimes overpayments or even double payments of
Particulars
Account Title
To record overpayment of
salaries and wages (When
overpayment is
ascertained)
Account
Code
Debit
Credit
5,000
5,000
To record refund of
overpayment
Cash Collecting
Officer
Due from Officers
and Employees
1-01-01010
1-03-05020
5,000
5,000
Particulars
Account Title
Acct.
Code
Debit
Books of Agency XY
4-03-01-010
1-03-05-010
5,000
Books of Bureau of
Treasury
Cash in Bank-LC,
1-01-02-030
Savings Account
Other Service Income 4-02-01-990
Credit
5,000
5,000
5,000
In case receivable account for the refund of overpayment was not set up
Particulars
Account Title
Account
Code
To record overpayment of
salaries and wages
Cash Collecting
1-01-01Officer
010
Salaries and Wages
Regular Pay
5-01-01010
Debit
Credit
5,000
5,000
Particulars
Account Title
Acct.
Code
Debit
Books of Agency XY
4-03-01-010
1-03-05-010
5,000
Cash in Bank-LC,
1-01-02-030
Savings Account
Other Service Income 4-02-01-990
5,000
Books of Bureau of
Treasury
Credit
5,000
5,000