Chapter II

Barangay Accounting Plan

The barangay accounting plan shows the accounting work flow of barangay transactions from the approved budget to incurrence of obligations/expenditures; collection of monies; payment of obligations/disbursements; recording of transactions in the books of accounts; and preparation of the financial statements and reports. Initially, the source documents shall be the basis for preparing reports by the Barangay Treasurer (BT). These reports together with the source documents are the basis of recording the transactions in the books of original entry. These are the JCT and the GJ. Journal entries based on reports and the JEV are recorded in the JCT or GJ and posted to the GLs and SLs. Based on the GL, Trial Balances and the financial statements are prepared. All of these accounting processes are undertaken by the Office of the C/M Accountant.

The Accounting Plan presents the following types of transactions:

a. Appropriations and Obligations
b. Collections and Deposits
c. Disbursements
d. Miscellaneous Transactions

The Financial Statements include Statement of Financial Position, Statement of Financial Performance, Statement of Net Assets/Equity, Statement of Cash Flows, Comparative Statement of Budget and Actual Expenditures, and Notes to Financial Statements.


Back | Chapter III

| Table of Contents | Home |