Annex 3



GENERAL LEDGER (GL)

INSTRUCTIONS


A. The ledger shall be accomplished as follows:

1. Account Title - account title used in accordance with the prescribed Chart of Accounts
2. Account Code - account code used in accordance with the prescribed Chart of Accounts
3. Barangay - name of barangay
4. City/Municipality/Province - name of city/municipality/province where the barangay is situated
5. Sheet No. - sheet number of the General Ledger which shall be one series for each year for each account
6. Date - date of the source document
7. Particulars - information or details pertaining to the transaction
8. Reference - the source reference such as Journal Entry Voucher number
9. Debit Column - amount debited
10. Credit Column - amount credited
11. Balance - the difference between the Debit and Credit columns. Place parenthesis in the amount with a negative balance

B. The ledger sheets shall be arranged in the same order or sequence of the accounts appearing in the Chart of Accounts.

C. Postings to this ledger shall come directly from the JBT and the General Journal.

D. Every sheet shall be footed and totaled. The difference of the totals of Debit and Credit columns should tie-up with the running balance column.

E. At the end of each month, after the two journals have been posted, the debit and credit columns of each account shall be footed in pencil and the balance indicated in ink.

F. At the end of the calendar year, each account shall be ruled and closed. All totals shall be written legibly in ink and the balance of the account carried forward as the opening balance of the new General Ledger for the next calendar year.

G. Controlling accounts in the General Ledger shall be supported by details in the subsidiary ledgers



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