acctg. for disb. (government accounting)
TRANSCRIPT
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7/23/2019 Acctg. for Disb. (Government Accounting)
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Accounting forDisbursements and
RelatedTransactions
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7/23/2019 Acctg. for Disb. (Government Accounting)
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General Requirements for All
Types of Disbursements:
1. Existence of a lawful and sallotment certified as aailable
"udget #fficer.
$. Existence of a alid obligation certt!e %!ief Accountant.
&. 'egality of transactions and conform
laws( rules and regulations.
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General Requirements for All
Types of Disbursements:
). Approal of t!e expense by t!e *#ffice or by its duly au
representatie.
,. -ufficient and releant documeestablis! alidity of claims.
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Disbursement rocess /lowRequesting 0nit
preparesDisbursementouc!er 2#bligation -lip. Allsupportingdocuments s!ould
be attac!ed.
"udget #ffice
obligates t!etransaction and"udget #fficercertifies existenceof a lawful 2sufficientallotment.
Accounting #ffprocesses t!e prepares t!e 3Accountant ce415 aailability4$5 alidity of o4&5 completenesupporting doc
*ead of #ffice or!is duly aut!ori+edrepresentatieapproes t!eexpense.
%as! #fficeprepares t!e c!ec7and releases t!ec!ec7 to t!e payee.
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Disbursements:
1."y %as!
$."y %!ec7
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Disbursements:
1."y %as!
a. Adances for ay
b. etty %as!
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Disbursements:
$. "y %!ec7
a. 8odified Disburse-ystem 48D-5 %!ec7s
b. %ommercial %!ec
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%ommon Disbursement Transactions
in t!e Goernment:
ayment of:
Goods 4#ffice -upplies( #ffice Equip
8aterials for Repairs of E( etc.5
-erices 4-ecurity -erices( Telep!o
9ater( Electricity Expenses( etc.5
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ayment of Goods:
urc!ase of #ffice -upplies 4for stoc7
Tacloban aperworld( a ATregistered
amounting to &;(;;;.;;. Assume t!a
Accounts ayable was setup.
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ayment of Goods: #n -ep. nentory 1 ;) ;) ;1 ; ;; &;(;;
Due to ">R $ ;$ ;1 ;1 ; ;;
%as! in "an7'%(%A'" 1 ;1 ;$ ;$ ; $)
&;(;;
To payment of #ffice -upplies for stoc7.
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ayment of Goods: #n -ep.
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ayment of -erices :
#n -ep. &( $;1,( Agency = paid itsC -e
-erices 4for t!e mont! of August $;1,
A28 -ecurity Agency( a ATregistered
amounting to 1$;(;;;.;;. Assume t!
Accounts ayable was setup.
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ayment of -erices : #n -ep. &( $;1,( Agency = paid itsC -ecurity -erices 4for t!e m
$;1,5 to A28 -ecurity Agency( a ATregistered entity( amounti1$;(;;;.;;. Assume t!at no Accounts ayable was setup.
Accounting 3ournal Entry:
-ep.&( $;1, -ecurity -erices , ;$ 1$ ;& ; ;; 1$;(;;;
Due to ">R $ ;$ ;1 ;1 ; ;; @(
%>"'%(%A'" 1 ;1 ;$ ;$ ; $) 11$
1$;(;;; 1$
To payment of -ecurity -erices for t!e mont! of August $;1,.
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ayment of -erices : #n -ep. )( $;1,( Agency = paid itsC Electricity Expenses 4for t!
August $;1,5 to E Electric %ooperatie amounting to 1(?;?.;t!at no Accounts ayable was setup.
Accounting 3ournal Entry:
-ep.)( $;1, Electricity Expenses , ;$ ;) ;$ ; ;; 1(?;?.;1
Due to ">R $ ;$ ;1 ;1 ; ;;
%>"'%(%A'" 1 ;1 ;$ ;$ ; $) 1(,
1(?;?.;1 1(
To payment of Electricity Expenses for t!e mont! of August $;1,
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/or Electric %ooperaties:
%omposition of Tax "ase:
0nder Distribution %!arges:
All >tems except Reinestment /und for
-ustainable %AE
0nder #t!er %!arges:All >tems
Total of t!e aboe items 4Distribution and #
%!arges5 x ,
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ayment of -erices : #n -ep. )( $;1,( Agency = paid itsC Electricity Expenses 4for t!
August $;1,5 to E Electric %ooperatie amounting to 1(?;?.;t!at no Accounts ayable was setup.
Accounting 3ournal Entry:
-ep.)( $;1, Electricity Expenses , ;$ ;) ;$ ; ;; 1(?;?.;1
Due to ">R $ ;$ ;1 ;1 ; ;;
%>"'%(%A'" 1 ;1 ;$ ;$ ; $) 1(,
1(?;?.;1 1(
To payment of Electricity Expenses for t!e mont! of August $;1,
4Distribution and #t!er %!arges 1
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ayment of -erices : #n -ep. )( $;1,( Agency = paid itsC 9ater Expenses 4for t!e m
$;1,5 to E9D amounting to ;;.;;. Assume t!at no Accountsetup.
Accounting 3ournal Entry:
-ep.)( $;1, 9ater Expenses , ;$ ;) ;1 ; ;; ;;.;;
Due to ">R $ ;$ ;1 ;1 ; ;;
%>"'%(%A'" 1 ;1 ;$ ;$ ; $)
;;.;;
To payment of Electricity Expenses for t!e mont! of August $;1,
49it!!olding Tax: ;;.;; x $ F 1?.;;5