Description of Accounts
Cash on Hand
14.1. Cash - In Local Treasury (1-01-01-010). This account is used to record in the book of barangays the amount of cash in the Local Treasury.
Cash in Bank
14.3. Cash in Bank - Local Currency, Current Account (1-01-02-010). This account is used to record deposits of cash with AGDBs .
14.4. Investment in Time Deposits (1-02-01-010). This account is used to record placement in local currency with AGDBs of excess cash or cash not earmarked for immediate use for a specified period.
14.5. Accounts Receivable (1-03-01-010). This account is used to record the amount due from customers arising from regular trade and business transactions. Credit this account upon collection of receivables, transfers or write-off.
14.7. Due from Local Government Units (1-03-02-010). This account is used to record amount of receivable from other local government units (LGUs) for share from LGUs income and other receivables.
14.8. Advances for Payroll (1-03-03-010). This account is used to record the amount of cash advance granted to regular disbursing officer for payment of salaries, wages, honoraria, allowances and other personnel benefits. Credit this account upon liquidation.
14.10. Receivables - Disallowances/Charges (1-03-04-010). This account is used to record the amount of disallowances in audit due from public/private individuals/entities which have become final and executory. Credit this account for settlement of disallowances/charges.
|| Table of Contents | Home ||