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PROPERTY, PLANT AND EQUIPMENT LEDGER CARD

(PPELC)

INSTRUCTIONS

A. The PPELC shall be kept in the Accounting Division/Unit for each class of PPE. The Accounting
Staff in charge in maintaining the PPELC shall record promptly the acquisition, description,
custody, estimated life, depreciation, impairment, issue/transfers/disposal, repair history and other
information about the property. It shall be maintained by fund cluster.
B. This ledger shall be accomplished as follows:
1. Entity Name – name of the agency/entity
2. Fund Cluster – the fund cluster name/code in accordance with the UACS
3. Property, Plant and Equipment – type of PPE (i.e. photocopying machine, filing cabinet,
etc.)
4. Description – description of the PPE (i.e. brand, size, color, etc.)
5. Object Account Code – object account code in accordance with the RCA
6. Estimated Useful Life – estimated useful life of PPE
7. Rate of Depreciation – rate of depreciation per month to be recorded in the books of
accounts starting on the 2nd month following the date of acquisition/delivery. It shall be
computed using the straight-line method of depreciation.
8. Date – date of the source document
9. Reference – reference documents used as the bases in recording the transactions such as JEV
10. Receipt-Qty./Unit Cost/Total Cost – the quantity, unit cost and total cost of the PPE
received
11. Accumulated Depreciation – the amount of depreciation charged to the PPE
12. Accumulated Impairment Losses – the amount of impairment losses charged to the PPE
13. Issues/Transfers/Adjustment/s – the cost of the asset issued, transferred to other NGAs,
disposed, or the amount of adjustment/s made through JEV
14. Adjusted Cost – the difference between the total cost of the asset less the accumulated
depreciation, accumulated impairment losses, and issues/transfers/adjustments, if any
15. Repair History-Nature of Repair/Amount – the nature of repair (specify nature of minor or
major repair, i.e., change tire, rewiring, engine overhaul, etc.) and the cost of repair

C. Transactions shall be posted from the source documents.

D. The PPELC shall be reconciled with the report on the physical count of the PPE, PC and the
control accounts. Any discrepancies shall be immediately verified and adjusted.

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