Annex 4



SUBSIDIARY LEDGER (SL)

INSTRUCTIONS


A. The ledger shall be accomplished as follows:

1. Sheet No. - sheets of all accounts shall be numbered starting with one for the whole year
2. Account Title - account title used in accordance with the prescribed Chart of Accounts (CA)
3. Account Code - account code used in accordance with the prescribed CA
4. Description - description of item subject of SL
5. Creditor/Debtor - name of creditor/debtor in case the SL is for receivable or payable.
6. Address - address of the creditor/debtor
7. Contact No. - telephone number of creditor/debtor
8. Barangay - name of the barangay
9. City/Municipality - name of the city/municipality
10. Province - name of the province
11. Date - date of the source document
12. Particulars - other information or details pertaining to the account
13. Reference - reference documents used as a basis in the recording of transactions
14. Debit Column - amount being debited to the account
15. Credit Column - amount being credited to the account
16. Balance - the difference between the Debit and Credit columns

B. Subsidiary Ledgers shall be kept for each control account in the General Ledger. At the end of each month, the Subsidiary Ledger balance shall be reconciled with the corresponding control account.

C. Every sheet shall be footed and totalled. The difference of the totals of Debit and Credit columns should tie-up with the running balance column. This total shall be carried forward to the next sheet. Succeeding sheets start with the totals brought forward.


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