Natl NGAS Annexes

Illustrative Accounting Entries - Typical transactions of Central/Regional Offices and Operating Units
(CO/RO/OU) receiving Notice of Cash Allocation direct from DBM.
Transactions
Beginning Balances
Receipt of allotment and NCA

1. Receipt of allotment for:
Allotment Class GAA CA 186

CO 3,340
MOOE 1,010
PS 550 55
FE 100
Total 5,000 55
2. Receipt of Notice of Cash Allocation

from DBM - P4,500
Payment of Expenses
3. Obligation for PS - P 500
1
4. Recording of expenses
Salaries 440
PERA 30
Additional Compensation 30
Total 500
Less: Salary Deductions.
Withholding tax 50
Life & Ret. premiums 30
PAGIBIG premiums 5
PHILHEALTH premiums 3
GSIS-Salary loan 2
Employees' Association 10 100
Net Amount 400
5. Grant of Cash Advance for payroll - P400
6. Liquidation of Cash Advance
7. Remittance of Salary Deductions
8. Obligation for government share

CA 186 - Life & Ret. Contribution 30
GAA - PAG-IBIG Contribution 5
GAA - PHILHEALTH Contribution 3
38
9. Remittance of Govt. Share
2
CA 186 - Life & Ret. Contribution 30
GAA - PAG-IBIG Contribution 5
GAA - PHILHEALTH Contribution 3
38
Receipt of Bills / Claim

10. Obligation for:
Rent ( for 1 year) 70
Office Supplies 150
MERALCO bill 50
PLDT bill 40
Travelling expense of
Mr. Alex Cruz 110
TOTAL 420
11. Payment of one year rent

(July 1, 2002 to June 30, 2003)
12. Advance payment to Procurement

Service (PS) for office supplies 150
13. Receipt of office supplies

and invoice from Procurement Service.
14. Payment of MERALCO bill
15. Payment of PLDT bill
16. Granting of cash advance for travel of
3
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
19. Adjustment of obligation by P12 for refund

of excess advance for traveling expense
20. Deposit of collection from excess advance

to BTr
Petty Cash Fund

21. Obligation for Petty Cash Fund (PCF)
for - P35
22. Establishment of Petty Cash Fund (PCF)
23. Obligation of P30 for replenishment

of Petty Cash Fund
24. Replenishment of Petty Cash Fund

Bond paper 20
Postage stamps 10
30
4
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
27. Deposit of collection from refund of

Petty Cash Fund
28. Obligation for Petty Cash Fund for - P35

for the newly designated PCF Custodian
29. Establishment of Petty Cash Fund for

the newly designated PCF Custodian
Purchase of Equipment
30. Obligation for office equipment per Purchase
Order - P100
31. Payment to Procurement Service for office equipment
32. Receipt of office equipment based on Invoice/

delivery receipt
33. Obligation prior to approval of purchase order for

IT Software - P400
5
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
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 P350
Less: Recoupment 50
Net Amount P300
41. Payment of 1st progress billing for building

Accounts Payable 300
6
Less: 10% Retention 35
Withholding Tax 27 62
Net Amount 238
42. Receipt of final billing for building

50% of P700 (delayed completion) P350
Less: Liquidated Damages 10
Net Amount P340
Less: Recoupment 55
Amount Due P285
43. Adjustment of RAOCO by P10 to reduce original

amount of obligation due to liquidated damages
44. Final payment for building

Less: 10% Withholding Tax (VAT) 32
Net Amount 253
45. Turn-over & acceptance of building

Contract Amount 700
Net Cost 690
Transfer of Funds to Implementing Agency

46. Obligation prior to approval of transfer of cash to
another agency for construction of building-P250
47. Issuance of check to implementing agency (IA)
7
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
50. Issuance of check to NGOs/POs
51. Receipt of liquidation reports from NGOs / POs

Travelling Expense-Local 50
Training and seminar expenses 30
Office supplies expense 20
Total 100
Grants and Donations

52. Obligation of amount for tuition fees of employees
(under scholarship grants) - P70
53. Recording of the bill from educational institution for

tuition fees of scholars
54. Payment of tuition fees of scholars
55. Obligation of stipend/book allowances
8
of scholars - P 50
56. Payment of stipend/book allowance to scholars
Payment thru ADA

57. Receipt of NCA for PY accounts payable - P350
58. Payment of PY accounts payable - P200
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
61. Obligation for construction of roads prior to signing of

contract - P2,000
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
9
64. Payment of bill for the construction of roads
Accounts Payable (1,000 -150) 850
Less: Withholding Tax 90
10% Retention 100 190
Net Amount 660
65. Presentation of final billing for roads

50% of P2,000 1,000
Net Cost 950
Less: Recoupment 150
Amount Due 800
66. Adjustment of RAOCO by P50 to reduce original

amount of obligation
67. Payment of final bill for the construction of roads

Less: Withholding Tax 86
10% Retention 95 181
Net Amount 619
68. Turn-over and acceptance of roads

Contract amount 2,000
Net Cost 1,950
Remittance of Withholding Taxes Thru TRA

69. Remittance of Withholding Tax thru TRA
10
Salaries 50
IT Software (Corporation) 36
Building (Corporation) 59
Roads (Corporation) 176
Total 321
Release of Performance Bond

70. Receipt of NCA for deposited performance bonds received
from contractors for the construction of the following:
Building 50
Roads 150
Total 200
71. Refund of performance bonds to contractors .
Refund of Retention Fees

72. Refund of retention fees to contractors .
Building P35
Roads 371
Total 406
Issuance of Supplies and Materials

73. Receipt of the Report of Supplies and Materials Issued
from the Property/Supply Unit
office supplies - P140
Adjusting Entries
74. Recording of depreciation for the following:
11
Cost Depn.
Buildings 690 35
IT Equipment 400 40
Office Equipment 100 10
Total 1,190 85
75. Rent expense for the year
CLOSING ENTRIES
1. Unused NCA
2. Subsidy Income from the National Government

and Income
3. Expenses
12
4. Income and Expense Summary
5. Retained Operating Surplus
6. Transfer of Public Infrastructures account to the

Registry of Public Infrastructures
13
Annex A
tions of Central/Regional Offices and Operating Units
REGULAR AGENCY BOOKS

CO/RO/OU
Account Title Account
Code Debit Credit
Office Equipment 222 1,000

Accounts Payable 401 350
Government Equity 501 650
Posting in allotment column of the

Registry of Allotments and Obligations-
Capital Outlay, Maintenance and Other
Operating Expenses, Personal Services
and Financial Expenses
Cash - National Treasury, MDS 102 4,500

Subsidy Income from National Government 601 4,500
Posting in obligation column of Registry

of Allotments and Obligations - Personal
Services
14
Salaries and Wages - Regular Pay 801 440
PERA 804 30
Additional Compensation 805 30
Due to Officers and Employees 428 400
Withholding Tax Payable 410 50
GSIS Payable 411 32
PAG-IBIG Payable 412 5
PHILHEALTH Payable 413 3
Other Payables 450 10
Cash - Disbursing Officers 107 400

Cash - National Treasury, MDS 102 400
Due to Officers and Employees 428 400

Cash - Disbursing Officers 107 400
GSIS Payable 411 32

Other Payables 450 10
Posting in obligation column of Registry

of Allotments and Obligations - Personal
Services
15
Life and Retirement Insurance Contributions 817 30
PAG-IBIG Contributions 818 5
PHILHEALTH Contributions 819 3
Posting in obligation column of Registry of

Allotments and Obligations - Maintenance
and Other Operating Expenses
Prepaid Rent 161 70

Due from NGAs 130 150

Office Supplies Inventory 149 150

Electricity 835 50
Telephone/Telegraph and Internet 837 40

Due from Officers and Employees 128 110
16
Traveling Expense - Local 831 98

Cash - Collecting Officers 106 12

Negative posting in obligation column of

Registry of Allotments and Obligations -
Maintenance and Other Operating Expenses
Subsidy Income from National Government 601 12

Posting in obligation column of

Petty Cash Fund 105 35


Office Supplies Expenses 849 20

Postage and Deliveries 838 10
17
Negative posting in obligation

Subsidy Income from NG 601 5




Capital Outlay

Office Equipment 222 100


18
Capital Outlay
IT Equipment and Software 215 400


Withholding Taxes Payable 410 36

Capital Outlay

Performance/Bidders/Bail Bonds Payable 414 50
Due from National Treasury 134 50

Advances to Contractors 168 105

Construction in Progress - Agency Assets 230 350


19
Guaranty Deposits Payable 408 35


Capital Outlay

Buildings 204 690


Capital Outlay
20
Buildings 204 250


Due from NGOs/POs 133 150

Travelling Expense-Local 831 50

Training and Seminar Expenses 833 30
Office Supplies Expense 849 20
Due from NGOs/POs 133 100

Grants and Donations 889 70


21






Capital Outlay

Construction in Progress - Roads,

Highways and Bridges 232 1,000
22

Highways and Bridges 232 950

Capital Outlay

Public Infrastructures 243 1,950

Highways and Bridges 232 1,950
23
Cash-National Treasury, MDS 102 200




Office Supplies Inventory 149 140
Depreciation - Buildings 904 35
24
Depreciation - IT Equipment 915 40
Depreciation - Office Equipment 922 10
Acc. Depn. - Buildings 304 35
Acc. Depn. - IT Equipment 315 40
Acc. Depn. - Office Equipment 322 10
Rent Expense 841 35

Prepaid Rent 161 35

Subsidy Income from National Government 601 2,667

Income and Expense Summary 533 2,667

Salaries and Wages-Regular Payroll 801 440
PERA 804 30
Life and Ret. Insurance Contribution 817 30
PAG-IBIG Contribution 818 5
PHILHEALTH Contribution 819 3
Traveling Expense, Local 831 148
Training and Seminar Fees 833 30
Electricity 835 50
Telephone/Telegraph and Internet 837 40
Postage and Deliveries 838 10
Rent Expenses 841 70
25
Depreciation - IT Equipment 915 40

Retained Operating Surplus 534 1,536
Retained Operating Surplus 534 1,536

Government Equity 501 1,536
Government Equity 501 1,950

Public Infrastructures 243 1,950
26
27
28
29
30
31
32
33
34
35
36
37
38
39
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
Account Title Code
Debit
Receipt of Allotment/NCA andTransfer of Subsidy

Posting in allotment column of
Allotment Class CO RO OU Registry of Allotments and Obligations-
CO 1,800 Capital Outlay, Maintenance and Other
MOOE 260 Operating Expenses, Personal Services
PS 200 250 150
Total 2,260 250 150
2. Receipt of Notice of Allocation CO RO OU Cash - National Treasury, MDS 102 2,000

from DBM 2,000 250 150 Subsidy Income from National Government 601
3. Release of sub-allotment to Regional Offices Negative posting in allotment column of

Allotment Class RO Registry of Allotments and Obligations-
MOOE 160 Capital Outlay
CO 1,500
Total 1,660
4. Release of Letter Advice of Allotment to OU

Allotment Class OU
MOOE 50
40
CO 700
Total 750
5. Transfer of subsidy to Regional Subsidy to Regional Offices/Staff Bureaus 538 1,400

Office thru funding check or fund Cash - National Treasury, MDS 102
transfer 1,400
6. Transfer of subsidy to Operating

Unit thru funding check or fund
transfer 600
Payment of Expenses
7. Obligation for Personal Services CO RO OU Posting in obligation column of
140 250 130 Registry of Allotments and Obligations-
Personal Services
8. Recording of expenses for salaries and wages

Salaries and Wages-Regular Pay 801 125
CO RO OU PERA 804 10
Salaries & Wages - Regular Pay 125 226 118 Additional Compensation 805 5
PERA 10 16 8 Withholding Taxes Payable 410
Additional Compensation 5 8 4 GSIS Payable 411
Total 140 250 130 PAGIBIG Payable 412
Less: PHILHEALTH Payable 413
Withholding Tax 14 25 13 Due from Officers and Employees 128
GSIS Life & Ret. Premiums 6 12 5
PAGIBIG Premiums 2 4 2
PHILHEALTH Premiums 1 2 1
23 43 21
41
Net 117 207 109
9. Granting of Cash Advance CO RO OU Cash-Disbursing Officers 107 117

117 207 109 Cash - National Treasury, MDS 102
10. Liquidation of Cash Advance Due from Officers and Employees 128 117
Cash-Disbursing Officers 107
Remittance of Salary Deductions
11. Remittance of Salary Deductions GSIS Payable 411 6
Cash - National Treasury, MDS 102
12. Issuance of TRA for Withholding taxes Withholding Taxes Payable 410 14
Subsidy Income from National Government 601
Receipt of Bills/Claims
13. Receipt of bills from Meralco and PLDT posting in obligation column of
13.1 Obligation Registry of Allotments and Obligations-
Maintenance and Other Operating Exp.
13.2 Recording of payables based on bills received
CO RO OU Electricity 835 30
MERALCO 30 40 8 Telephone/Telegraph and Internet 837 10
PLDT 10 15 5 Accounts Payable 401
40 55 13
14. Payment of bills Accounts Payable 401 40
42
15. Grant of Cash Advance for travel

15. 1. Obligation Posting in obligation column of
15.2. Grant of Cash Advance CO RO OU Due from Officers and Employees 128 8
8 10 12 Cash - National Treasury, MDS 102
16. Liquidation of Cash Advance for CO RO OU Travelling Expense - Local 831 5

travel 5 8 7 Due from Officers and Employees 128
17. Collections
17.1. Receipt of collection CO RO OU
Overpayment of salaries 5 3 2 Cash-Collecting Officers 106 8
Refund of Cash Advance-travel 3 2 5 Due from Officers and Employees 128
8 5 7 Salaries and Wages-Regular Pay 801
17.2. Adjustment of obligation Negative posting in obligation column of

Maintenance and Other Operating
Expenses and Personal Services
17.3. Deposit of collection Subsidy Income from National Government 601 8

Cash-Collecting Officers 106
18. Payment of one year rental

18.1. Obligation CO RO OU Posting in allotment column of
12 3 2 Registry of Allotments and Obligations-
43
18.2. Payment Prepaid Rent 161 12

19. Purchase of Office Supplies

19.1. Earmarking of fund prior to signing of Posting in obligation column of
Purchase Order (PO) Registry of Allotments and Obligations-
19.2. Recording of Payable CO RO OU Office Supplies Inventory 149 30

for Office Supplies received 30 35 20 Accounts Payable 401
20. Purchase of Equipment

20.1. Earmarking of fund for Equipment per PO Posting in obligation column of
Capital Outlay
20.2. Serving of PO to dealer No Entry

20.3. Receipt of Equipment with CO RO OU Office Equipment 222 50
Invoice 50 135 120 Accounts Payable 401
21. Payment of Payables for supplies Accounts Payable 401 80

and equipment CO RO OU Cash - National Treasury, MDS 102
Total 80 170 140 Withholding Taxes Payable 401
Less: Withholding Taxes 8 16 14
72 154 126
Construction of Building
22. Construction of Building
44
22.1. Earmaking of funds prior to CO RO OU Posting in obligation column of
Signing of contract 200 600 500 Registry of Allotments and Obligations-
Capital Outlay
22.2. Payment of advances to Contractors Advances to Contractors 168 30

22.3. Receipt of 1st Progress Billing CO RO OU Construction in Progress-Agency Assets 230 150
150 400 300 Accounts Payable 401
Advances to Contractors 168
22.4. Payment of 1st Progress billing CO RO OU Accounts Payable 401 120

Total 120 310 225 Cash - National Treasury, MDS 102
Less: Withholding Taxes 15 40 30 Withholding Taxes Payable 410
105 270 195
22.5. Receipt of final billing for the CO RO OU Construction in Progress-Agency Assets 230 50
completion of the building 50 200 200 Accounts Payable 401
22.6. Payment of final billing CO RO OU Accounts Payable 401 50

Total 50 200 200 Cash - National Treasury, MDS 102
Less: Withholding Tax 5 20 20 Withholding Taxes Payable 410
Net Amount 45 180 180
22.7. Transfer to account to

Building after completion & CO RO OU Buildings 204 200
turn-over 200 600 500 Construction in Progress-Agency Assets 230
23. Remittance of taxes thru TRA CO RO OU Withholding Taxes Payable 410 28
45
28 76 64 Subsidy Income from NG 601
24. Issuance of office supplies CO RO OU Office Supplies Expenses 849 25

per RSMI 25 30 14 Office Supplies Inventory 149
ADJUSTING ENTRIES
1. Recording of actual rent expense CO RO OU Rent Expenses 841 12
12 3 2 Prepaid Rent 161
2. Depreciation
CO RO OU
Buildings 10 30 25 Depreciation - Buildings 904 10
Office Equipment 5 12 12 Depreciation - Office Equipment 922 5
Total 15 42 37 Accum. Depn. - Buildings 304
Accum. Depn. - Office Equipment 322
CLOSING ENTRIES
1. Adjustment of RAO for unobligated allotment

CO RO OU Posting in allotment column of
PS 90 25 22 Registry of Allotments and Obligations
MOOE 30 17 8 Maintenance and Other Operating Exp.
120 42 30
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 Due from Regional Offices/Staff Bureaus 136 17
equivalent to the unobligated allotment for MOOE Subsidy to Regl.Offices/Staff Bureaus 538
46
4. Reversion of Unused NCA Subsidy Income from National Government 601 131
Cash-National Treasury, MDS 102
5. Subsidy Income from the National Government Subsidy Income from National Government 601 1,903
Income and Expense Summary 532
6. Expenses Income and Expense Summary 532 1,615

Salaries and Wages-Regular Payroll 801
PERA 804
Additional Compensation 805
Traveling Expense, Local 831
Electricity 835
Telephone/Telegraph and Internet 837
Rent Expenses 841
Office Supplies Expenses 849
Subsidy to Regional Offices/Staff Bureaus 538
Depreciation - Buildings 904
Depreciation - Office Equipment 922
7. Income and Expense Summary Income and Expense Summary 533 288
Retained Operating Surplus 502
8. Retained Operating Surplus Retained Operating Surplus 502 288

Government Equity 501
47
48
Illustrative Accounting Entries - Typical transactions of Central
(CO/RO/OU) receiving Notice of Cash Allocation direct from DB
funding checks from CO/RO.
REGIONAL OFFICE (RO)
Account Transactions
Credit Account Title Code
Debit Credit

Registry of Allotments and Obligations- Allotment Class
Maintenance and Other Operating CO
Expenses, Personal Services MOOE
PS
Total
Cash - National Treasury, MDS 102 250 2. Receipt of Notice of Allocation

2,000 Subsidy Income from National Government 601 250 from DBM - P4,500
Posting in allotment column of 3. Release of sub-allotment to RO

Capital Outlay CO
MOOE
Negative posting in allotment column of 4. Release of LAA to OU
Capital Outlay, Maintenance and
49
Other Operating Expenses CO
MOOE
Total
Cash in Bank-Local Currency, Curr. Acct. 110 1,400 5. Transfer of subsidy to RO
1,400 Subsidy from Central Office 602 1,400
Subsidy to Operating Units 539 600 6. Transfer of subsidy to OU

Cash in Bank-Local Currency, Curr. Acct. 110 600
Posting in obligation column of 7. Obligation for PS

Personal Services
9. Liquidation of Cash Advance for

Salaries and Wages-Regular Pay 801 226 Salaries
PERA 804 16
Additional Compensation 805 8 Salaries & Wages - Regular Pay
14 Withholding Taxes Payable 410 25 PERA
6 GSIS Payable 411 12 Additional Compensation
2 PAGIBIG Payable 412 4 Total
1 PHILHEALTH Payable 413 2
117 Due from Officers and Employees 128 207
Withholding Tax
GSIS Life & Ret. Premiums
PAGIBIG Premiums
50
Cash-Disbursing Officers 107 207 8. Establishment of Payroll Fund
117 Cash - National Treasury, MDS 102 207

117 Cash-Disbursing Officers 107 207 Less:
GSIS Payable 411 12 10. Remittance of Salary Deductions

9 Cash - National Treasury, MDS 102 18
Withholding Taxes Payable 410 25 11. Remittance of Withholding taxes

14 Subsidy Income from National Government 601 25 thru TRA
posting in obligation column of 12. Receipt of bills from the following:

Registry of Allotments and Obligations- 12.a Obligation
12.b Recording of payables based on bills received
Electricity 835 40
Telephone/Telegraph and Internet 837 15 MERALCO
40 Accounts Payable 401 55 PLDT
Accounts Payable 401 55 13. Payment of bills
51
40 Cash in Bank-Local Currency, Curr. Acct. 110 55
14. Grant of Cash Advance for travel

Posting in obligation column of 14. a. obligation
Due from Officers and Employees 128 10 14.b. Grant of Cash Advance
Travelling Expense - Local 831 8 15. Liqudiation of Cash Advance for

5 Due from Officers and Employees 128 8 travel
16. Collections
16.a. Receipt of collection
Cash-Collecting Officers 106 5 Overpayment of salaries
3 Due from Officers and Employees 128 2 Refund of Cash Advance
5 Salaries and Wages-Regular Pay 801 3
Negative posting in obligation column of 16.b. Adjustment of obligation

Subsidy Income from National Government 601 3 16.c. Deposit of collection

Cash-Collecting Officers 106 5
17. Payment of one year rental

Posting in allotment column of 17.a.obligation
52
Prepaid Rent 161 3 17.b. payment

18. Purchase of Office Supplies

Posting in obligation column of 14. a. obligation
Office Supplies Inventory 149 35 18.b Earmarking of Purchase Order

30 Accounts Payable 401 35 for Office Supplies received
19. Purchase of Equipment

Posting in obligation column of 19.a. Earmarking of P.O. for Equipment
Capital Outlay
No Entry 19.b. Serving of PO to dealer

Office Equipment 222 135 19.c. Receipt of Equipment with
50 Accounts Payable 401 135 Invoice
Accounts Payable 401 170 20. Payment of Payables for supplies

72 Cash in Bank-Local Currency, Curr. Acct. 110 154 and equipment
8 Withholding Taxes Payable 410 16 Total
Less: withholding taxes
21. Construction of Building
53
Posting in obligation column of 19.a. Earmarking of P.O. for Equipment
Capital Outlay
Advances to Contractors 168 90 21.b. Payment of advances to Contractors

Construction in Progress-Agency Assets 230 400 21.c. Receipt of 1st Progress Billing
120 Accounts Payable 401 310
30 Advances to Contractors 168 90
Accounts Payable 401 310 21.d. Payment of 1st Progress billing

105 Cash in Bank-Local Currency, Curr. Acct. 110 270 Total
15 Withholding Taxes Payable 410 40 Less: withholding taxes
Construction in Progress-Agency Assets 230 200 21.e. Receipt of final billing for the
50 Accounts Payable 401 200 completion of the building
Accounts Payable 401 200 21.f. Payment of final billing

45 Cash in Bank-Local Currency, Curr. Acct. 110 180 Total
5 Withholding Taxes Payable 410 20 Less: Withholding tax
Net Amount
21.g. Transfer of Construction in

Buildings 204 600 Progress to Building Account
200 Construction in Progress-Agency Assets 230 600 after its completion & turn-over
Withholding Taxes Payable 410 76 22. Remittance of taxes thru TRA
54
28 Subsidy Income from NG 601 76
Office Supplies Expenses 849 30 24. Issuance of office supplies

25 Office Supplies Inventory 149 30
ADJUSTING ENTRIES
Rent Expenses 841 3 23. Recording of actual rent expense
12 Prepaid Rent 161 3
1. Depreciation of the following:
Depreciation - Buildings 904 30 Buildings

Depreciation - Office Equipment 922 12 Office Equipment
10 Accum. Depn. - Buildings 304 30 Total
5 Accum. Depn. - Office Equipment 322 12
3. Adjustment of allotment
Registry of Allotments and Obligations
Due from Operating Units 137 8 1. Setting up of liability of OU representing Unobligated

Subsidy to Operating Units 539 8 Allotment for MOOE
Subsidy from Central Office 602 17

17 Due to Central Office 435 17
55
Subsidy Income from National Government 601 22 5. Reversion of Unused NCA
131 Cash-National Treasury, MDS 102 22
Subsidy Income from National Government 601 326 2. Subsidy Income from the National Government
1,903 Subsidy from CO 602 1,383
Income and Expense Summary 532 977 3. Expenses

120 Salaries and Wages-Regular Payroll 801 223
10 PERA 804 16
5 Additional Compensation 805 8
5 Traveling Expense, Local 831 8
30 Electricity 835 40
10 Telephone/Telephone/Internet 837 15
12 Rent Expenses 841 3
25 Office Supplies Expenses 849 30
1,383 Subsidy to Operating Units 539 592
10 Depreciation - Buildings 904 30
5 Depreciation - Office Equipment 922 12
Income and Expense Summary 533 732 3. Income and Expense Summary
288 Retained Operating Surplus 502 732
Retained Operating Surplus 502 732 4. Retained Operating Surplus

288 Government Equity 501 732
56
57
Annex B
Entries - Typical transactions of Central/Regional Offices and Operating Units
Notice of Cash Allocation direct from DBM and ROs/OUs receiving
OPERATING UNITS
Transactions Account
Account Title Code
Debit Credit

Allotment Class CO RO OURegistry of Allotments and Obligations-
CO 900 600### Maintenance and Other Operating
MOOE 200 100### Expenses, Personal Services
400 150###
Total 1,500 850###
CO RO OUCash - National Treasury, MDS 102 150

1,300 800### Subsidy Income from National Government 601 150
Allotment Class RO
CO 500
MOOE 100
Allotment Class OURegistry of Allotments and Obligations-
Capital Outlay, Maintenance and
58
CO ### Other Operating Expenses
MOOE ###
Total ###
520

Subsidy from Regional Office/Staff Bureau 603 600
CO RO OPosting in obligation column of

140 250
### Registry of Allotments and Obligations-
Personal Services
Salaries and Wages-Regular Pay 801 118

2. Obligation for PS - P500 CO RO OUPERA 804 8
egular Pay 125 226### Additional Compensation 805 4
10 16### Withholding Taxes Payable 410 13
5 8### GSIS Payable 411 5
140 250### PAGIBIG Payable 412 2
14 25###
Premiums 6 12###
2 3###
59
22 40###
CO RO OUCash-Disbursing Officer 107 109

118 210### Cash - National Treasury, MDS 102 109

Cash-Disbursing Officer 107 109
Deductions GSIS Payable 411 5


he following: posting in obligation column of

ables based on bills received
CO RO OUElectricity 835 8
30 40### Telephone/Telegraph and Internet 837 5
10 15### Accounts Payable 401 13
40 55###
60
e for travel
CO RO OUDue from Officers and Employees 128 12

8 10
### Cash in Bank-Local Currency, Curr. Acct. 110 12
dvance for CO RO OUTravelling Expense - Local 831 7

5 8 7 Due from Officers and Employees 128 7
CO RO OU
5 3 2 Cash-Collecting Officers 106 7
3 2 4 Due from Officers and Employees 128 5
8 5 6 Salaries and Wages-Regular Pay 801 2


Cash-Collecting Officers 106 7

61
CO RO OUPrepaid Rent 161 2

12 3 2 Cash in Bank-Local Currency, Curr. Acct. 110 2

urchase Order CO RO OUOffice Supplies Inventory 149 20

es received 30 35
### Accounts Payable 401 20
O. for Equipment Posting in obligation column of

Capital Outlay
No Entry
CO RO OUOffice Equipment 222 120
50 135
or supplies Accounts Payable 401 140

CO RO OU Cash in Bank-Local Currency, Curr. Acct. 110 126
80 170### Withholding Taxes Payable 410 14
8 16
###
72 154###
62
O. for Equipment Posting in obligation column of
Capital Outlay
ances to Contractors Advances to Contractors 168 75

ogress Billing CO RO OUConstruction in Progress-Agency Assets 230 300

150 400
rogress billing Accounts Payable 421 225

120 310
### Cash in Bank-Local Currency, Curr. Acct. 102 195
15 40
### Withholding Taxes Payable 410 30
105 270
###
illing for the CO RO OUConstruction in Progress-Agency Assets 230 200

50 200
CO RO OAccounts Payable 401 200

50 200 ### Cash in Bank-Local Currency, Curr. Acct. 110 180
5 20
### Withholding Taxes Payable 410 20
45 180 ###
lding Account CO RO OUBuildings 204 500

etion & turn-over 200 600
### Construction in Progress-Agency Assets 230 500
CO RO OUWithholding Taxes Payable 410 64
63
28 76
### Subsidy Income from NG 601 64
CO RO OUOffice Supplies Expenses 849 14

25 30
### Office Supplies Inventory 149 14
CO RO OURent Expenses 841 2

10 3 2 Prepaid Rent 161 2
OU
### Depreciation - Buildings 904 25
### Depreciation - Office Equipment 922 12
### Acc. Depn. - Buildings 304 25
Acc. Depn. - Office Equipment 322 12
Negative posting in allotment column of

Registry of Allotments and Obligations
OU representing Unobligated Subsidy from Regional Office/Staff Bureau 603 8

Due to Regional Office/Staff Bureaus 446 8
64
he National Government Subsidy Income from National Government 601 193

Subsidy from Regional Office/Staff Bureau 603 592
Income and Expense Summary 532 785

Salaries and Wages-Regular Payroll 801 116
PERA 804 8
Traveling Expense, Local 831 7
Electricity 835 8
Telephone/Telephone/Internet 837 5
Rent Expenses 841 2

Retained Operating Surplus 502 584
Retained Operating Surplus 502 584

Government Equity 501 584
65
66
Illustrative Accounting Entries - Typical Transactions of Agencies with Collections/Income
to be recorded in the National Government (NG) Books
Transactions
Beginning Balances:
A. Prior Year's Income

1. Deposit of prior year's collections
2. Collection of prior years' receivables
3. Deposit of collections of prior years'

receivables
B. Current Year's Income

4. Billing of operating and service
income
5. Collection of billed operating and

service income
67
6. Collection of taxes
Source Amount
Income Tax-Individuals 400
Income Tax -Partnerships 300
Income Tax -Corporations 1,200
Property Transfer Tax 100
Value Added Tax 150
Fines and Penalties 50
Total 2,200
7. Collection of rentals
Note: Subsidiary Ledger (SL) accounts shall be provided for "Due to National Treasury" account
code of the income accounts under the Chart of Accounts shall be used as SL accounts and
indicated in the List of Collections which shall be submitted to the BTr.
8. Deposit of income/collections
to BTr thru AGDB
a. Taxes
b. Rent Income
68
C. Accounting for Collection of
Out-of-Town Checks with Bank
Charges - Income from Government
Services - P2,000
9. Collection upon issuance of OR
10. Remittance/Deposit to BTr

thru AGDB
Note: BTr will record cash (at net amount),

bank charges and income (at gross).
D. Accounting for Foreign Exchange Loss
11. Collection of Income from

Govt. Services - $100 @ P50
12. Remittance/Deposit to BTr

thru AGDB
Note:There will be no bank charges and and foreign

exchange loss to be ecorded in the agency's
NG books.
69
Note: Subsidiary Ledger (SL) accounts shall be provided for "Due to National Treasury" account
code of the income accounts under the Chart of Accounts shall be used as SL accounts and
indicated in the List of Collections which shall be submitted to the BTr.
70
ting Entries - Typical Transactions of Agencies with Collections/Income
he National Government (NG) Books
Agency - National Government Books
Account Title Account Debit Credit
Code
Cash - Collecting Officers 106 1,000

Accounts Receivables 121 5,000
Due to National Treasury 433 6,000
Income from Govt. Services 6,000
6,000 6,000

Cash Collecting Officers 106 1,000


Cash Collecting Officers 106 1,500


71
Income Tax -Individuals 400
Income Taxes -Corporations 1,200
Capital Gross Tax 100
Value Added Tax 150

Due to National Treasury 433 300
Rent Income 300
dger (SL) accounts shall be provided for "Due to National Treasury" account. The
ome accounts under the Chart of Accounts shall be used as SL accounts and shall be
e List of Collections which shall be submitted to the BTr.

Income Tax -Individuals 400
Income Taxes -Corporations 1,200
Capital Gross Tax 100
Value Added Tax 150
72
Rent Income 300


Income from Govt. Services 2,000 2,000
Cash - Collecting Officers 106

Income from Govt. Services 500

Income from Govt. Services 500 500
Cash - Collecting Officers 106
73
dger (SL) accounts shall be provided for "Due to National Treasury" account. The
ome accounts under the Chart of Accounts shall be used as SL accounts and shall be
e List of Collections which shall be submitted to the BTr.
74
Annex C
Statement of In
For the Fiscal Year E
BTr - National Government Books
Account
Account Title Debit Credit
Code
75
As December 31, 2002
76
77
78
Statement of Income and Expenses
For the Fiscal Year Ended December 31, 2002
Income:
Value Added Taxes P -
79
Income from Grants and Donations
Total 2,500
Less: Expenses -
Income Over Expenses P 2,500
CERTIFIED CORRECT:
______________________________
As December 31, 2002
LIABILITIES AND EQUITY
Total Liabilities and Equity P
80
81
Expenses
mber 31, 2002
82
83
84
85

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Illustrative Accounting Entries - Typical transactions of Central/Regional Offices and Operating Units

(CO/RO/OU) receiving Notice of Cash Allocation direct from DBM.

Receipt of allotment and NCA

Allotment Class GAA CA 186

2. Receipt of Notice of Cash Allocation

5. Grant of Cash Advance for payroll - P400

6. Liquidation of Cash Advance

7. Remittance of Salary Deductions

8. Obligation for government share

9. Remittance of Govt. Share

Receipt of Bills / Claim

11. Payment of one year rent

12. Advance payment to Procurement

13. Receipt of office supplies

14. Payment of MERALCO bill

15. Payment of PLDT bill

16. Granting of cash advance for travel of

17. Liquidation of cash advance for travel of

18. Refund of excess cash advance for travelling

19. Adjustment of obligation by P12 for refund

20. Deposit of collection from excess advance

Petty Cash Fund

22. Establishment of Petty Cash Fund (PCF)

23. Obligation of P30 for replenishment

24. Replenishment of Petty Cash Fund

26. Adjustment of obligation for refunded PCF

27. Deposit of collection from refund of

28. Obligation for Petty Cash Fund for - P35

29. Establishment of Petty Cash Fund for

31. Payment to Procurement Service for office equipment

32. Receipt of office equipment based on Invoice/

33. Obligation prior to approval of purchase order for

35. Payment of IT Software to Computer Technologies

37. Receipt of cash from the contractor paid

38. Deposit of ( cash) performance bond

39. Payment of 15% of contract amount as advances

40. Receipt of 1st progress billing for building

41. Payment of 1st progress billing for building

42. Receipt of final billing for building

43. Adjustment of RAOCO by P10 to reduce original

44. Final payment for building

45. Turn-over & acceptance of building

Transfer of Funds to Implementing Agency

47. Issuance of check to implementing agency (IA)

Fund Assistance to NGOs/POs

50. Issuance of check to NGOs/POs

51. Receipt of liquidation reports from NGOs / POs

Grants and Donations

53. Recording of the bill from educational institution for

54. Payment of tuition fees of scholars

55. Obligation of stipend/book allowances

56. Payment of stipend/book allowance to scholars

Payment thru ADA

58. Payment of PY accounts payable - P200

60. Deposit of cash (performance bond) to BTr thru AGDB

61. Obligation for construction of roads prior to signing of

62. Payment of 15% of contract amount for the

63. Receipt of progress billing for construction of roads

65. Presentation of final billing for roads

66. Adjustment of RAOCO by P50 to reduce original

67. Payment of final bill for the construction of roads

68. Turn-over and acceptance of roads