Chapter VIII |
Miscellaneous transactions refer to transactions that are unique and not recurring in the ordinary course of operations of the government. These transaction types seldom take place or ideally should not happen at all. The following maybe considered miscellaneous transactions:
1. Loss of Cash
2. Cash Shortage
3. Cash Overage
4. Dishonored Check
5. Lost Check
6. Spoiled Check
7. Staled Check
8. Settlement of Suspensions/Disallowances/Charges
8.1 Specific Policies and Procedures
Loss of Cash
8.1.1 Loss of cash and property may be due to malversation, theft, robbery or other causes.
8.1.2 As soon as a shortage is definitely established, the Auditor shall issue a memorandum to the PB, attention to the C/M Accountant who shall draw a Journal Entry Voucher (JEV) to take up the shortage. Shortage in the cash accountability of the AO shall be recorded as a receivable from the AO.
8.1.3 Pending result of request for relief from accountability, no accounting entry for the loss of asset shall be recognized, instead, the loss shall be disclosed in the notes to financial statements.
Grant of Relief from Accountability
8.1.4 When a request for relief for shortages or loss of funds is granted, a copy of the decision shall be forwarded to the C/M Accountant who shall draw a JEV to record the transaction recognizing the loss of assets and reversing the receivable from the AO.
8.1.5 In case the request for relief is denied, immediate payment of the shortage shall be demanded from the AO. Restitution shall be acknowledged by the issuance of an OR by the BT.
8.1.6 In case the request for relief from accountability for loss of property caused by fire, theft, force majeure or other causes is granted, a copy of the decision shall likewise be forwarded to the C/M Accountant for the preparation of the JEV.
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