Efrs Manual Acctg Process

8/18/2019 Efrs Manual Acctg Process

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Enhanced Financial Reporting SystemSystems and User Manual

This Manual was prepared by AARC Ltd ( reland!

Strengthening The FinancialManagement

System in the "epartment o# Education ($hase !

April %&'

)*LUME Transaction Accounting $rocesses #or eFRS


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TA+LE *F C*,TE,TS

' *-er-iew About This Manual .

1.1 Background 5

1.2 eFRS User Manual 5

% Establish +eginning +alances /

2.1 Overview of Beginning Balance 7

2.2 Set Up Beginning Balance 7

2. !as" in Bank accounts 7

0 +an1 "isbursement 2

.1 Overview of Bank #is$urse%ents &

.2 !"eck #is$urse%ent &

. '#' #is$urse%ent 1

.( !ancelled)Stale !"ecks 1*

.5 Fund +ransfer 1,

.* Bank !"arges 1&

Cash "isbursement %'

(.1 Overview of !as" #is$urse%ents 21

(.2 -i uidations 21

(. Ot"er transaction t/pes 27

. Cash Collection %3

5.1 Overview of !as" !ollections2,

5.2 Refund of !as" 'dvance 1

5. 0nco%e of t"e ational overn%ent 1

5.( Revolving Fund Receipts 2

5.5 +rust Receipts

5.* Refund for Overpa/%ent of 34penses (

5.7 #is"onored !"ecks 5

4 +an1 "eposit 04

*.1 Overview of Bank #eposits *

*.2 #eposits of !ollections ,

*. +rust Fund &

*.( 'd ust%ent to Bank #eposits &

/ *ther Transactions &

7.1 Overview of Ot"er +ransactions (6

7.2 !') +' Receipt (6

7. Re%ittances to B0R (

7.( on !as" 34penses (*

7.5 eneral !orrections)'d ust%ents (&

8age 1


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7.* !') +' -apsing 51

7.7 9ear end !losing 52

3 SU5s M**E Li6uidation .

,.1 Overview of MOO3 -i uidation 5(

,.2 'ccounting 3ntries 55

2 Fre6uently As1ed 7uestions .3

8age 2


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L ST *F A++RE) AT *,S

'!0! 'dvice of !"eck 0ssued and !ancelled '#' 'uto%atic #e$it 'ccount ' #B 'ut"ori:ed govern%ent depositor/ $ank ' SB 'ut"ori:ed govern%ent servicing $ank ' !'0 'dvice of otice of !as" 'llocation 0ssued '+M 'uto%atic +eller Mac"ineB0R Bureau of 0nternal RevenueBRS Bank Reconciliation State%entBS Balance S"eetB+r Bureau of +reasur/!O !entral Office!O' !o%%ission on 'udit#BM #epart%ent of Budget and Manage%ent#B8 #evelop%ent Bank of t"e 8"ilippines#ep3# #epart%ent of 3ducation#OF #epart%ent of Finance#O #ivision Office#S #eposit Slip#; #is$urse%ent ;ouc"er eFRS 3n"anced FRS3F+ 3lectronic fund transfer FRS Financial Reporting S/ste%

'' eneral 'ppropriations 'ct0FM0S overn%ent 0ntegrated Financial Manage%ent 0nfor%ation S/ste%S0S overn%ent Service 0nsurance S/ste%

0U 0%ple%enting Unit


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RO Regional OfficeSU Spending UnitSu$ 'RO Su$ 'llot%ent Release Order +R' +a4 Re%ittance 'dviceU'!S Unified 'ccount !ode Structure

8age (


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For clarifcations andqueries, you maycontact the Project

on:

Mobile:

09166598811

For clarifcations andqueries, you maycontact the Project

on:

Mobile:

09166598811

' *-er-iew About This Manual

'8' +ac1ground

+"e 3n"anced Financial Reporting S/ste% >eFRS? originatedfro% t"e $asic Financial Reporting S/ste% >FRS? used $/ so%eaccounting units in t"e #epart%ent of 3ducation >#ep3#?. 0twas initiated $/ a field office in Region & a few /ears $ack andits develop%ent was t"en continued $/ Mr. @arold Magadia= aprogra%%er in t"e 'ccounting #ivision of #ep3d !entral Office=up until its latest version. +"e current version of eFRS is .6 or t"e eFRS ; .6. @ence= all eFRS ter% used in t"is %anual refersto eFRS ; .6.

+"e principal developer of eFRS is Mr. Magadia "i%self toget"er wit" t"e guidance and supervision of t"e 'ccountants fro% #ep3# !entral Office.Feed$acks fro% field offices were also incorporated in t"e s/ste% along wit" t"ereco%%endations and suggestions pointed out $/ t"e consulting tea%. +"e %ain distinctionof eFRS as co%pared to its predecessors is t"at it is alread/ Unified 'ccount !ode Structure

>U'!S? co%pliant. +"is %eans t"at it can alread/ cater t"e (* digit U'!S code= as%andated t"roug" !O' #BM #OF #BM?=including strict co%pliance to pertinent guidelines and issuances dee%ed necessar/ $/t"ese oversig"t agencies.

+"e %ain purpose of eFRS is to provide relative ease in recording transactional data neededfor accounting units as co%pared to t"e %anual process or even wit" standard spreads"eetsespeciall/ w"en coding t"e (* digit U'!S code. 0t was also designed to produce appropriatereports and e4port relevant financial data as needed. enerall/= eFRS is designed to providesupport for 'ccounting personnel in t"e %eanti%e w"ile t"e overn%ent 0ntegrated

Financial Manage%ent 0nfor%ation S/ste% > 0FM0S? is still undergoing develop%ent. Untilsuc" ti%e w"en 0FM0S will $e full/ i%ple%ented in #ep3#= eFRS will pla/ a vital role inrecording accounting entries and ot"er financial data as well as generating reports and ot"er financial state%ents.

+"e pri%ar/ purpose of t"is %anual is to provide a reference docu%ent for end users of t"eeFRS. 0t covers instructions= definitions= illustrations= step $/ step guide= descriptions= ande4planations related to t"e functions of t"e s/ste%.

'8% eFRS User Manual

Who should use the manual?

+"is %anual is pri%aril/ designed for #ep3d personnel fro% accounting units in differentlevels of t"e depart%ent tasked wit" %aintaining


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eFRS stands for 3n"anced Financial Reporting S/ste%. 0t is a s/ste% used $/ t"e #ep3#for recording various financial data and conse uentl/ generating reports as re uired $/oversig"t agencies suc" as t"e !O' and #BM.

Why do we need to use eFRS?

+"e current version of eFRS incorporates U'!S as %andated $/ !O' #BM #OF F'Cs? and "owtos related to eFRS operation. ;olu%e 00 illustrates t"e data entr/ functions of t"e s/ste%. 0tfocuses on t"e transaction accounting processes.

8age *


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% Establish +eginning +alances

%8' *-er-iew o# +eginning +alance

Balance S"eet accounts= co%prising of 'ssets= -ia$ilities and overn%ent 3 uit/= are calledreal accounts= w"ic" nor%all/ "ave $alances t"at are $roug"t forward to t"e succeeding/ears. !as" D M#S accounts >Regular= Special 'ccount= and)or +rust? "owever "ave noforwarding $alances due to auto%atic lapsing of t"e otice of !as" 'llocation > !'?= anaut"orit/ granted to #ep3dEs operating units to dis$urse and issue Modified #is$urse%entsS/ste% >M#S? c"ecks= at specified ti%e.

0n setting up an opening $alance for t"e $alance s"eet accounts= t"e eFRS provides %enuand input fields to enter t"e $eginning $alances.

%8% Set Up +eginning +alance

Using t"e 8ost !losing +rial Balance or #etailed Balance S"eet >BS?= input t"e account$alances following t"e steps $elow

1.Select t"e Fund Source !ode fro% t"e drop down list in t"e appropriate fields. 8lease$e re%inded t"at data input is on a per Fund Source $asis.

2.0ndicate one >666666666? in t"e MFO)8'8 !ode..Select t"e particular O$ ect !odes fro% t"e drop down list in t"e appropriate fields.

3nsure t"at all ew overn%ent 'ccounting S/ste% > 'S? O$ ect !odes "ave$een dul/ converted to t"e U'!S.

(.3nter t"e a%ounts of t"e $eginning $alances corresponding to ever/ O$ ect !ode atstate%ent date

5. !lick O to post t"e transactions.*.#o t"e sa%e steps for ot"er Fund Source !odes= if an/.

%80 Cash in +an1 accountsSetting up of t"e $eginning $alances in t"e eFRS onl/ accounts for t"e total or aggregatea%ount. ow= in order to %a4i%i:e t"e use of infor%ation= %ost i%portantl/ on !as" in Bank

D -ocal !urrenc/= t"e details as to individual $ank accounts s"ould also $e esta$lis"ed.Suc" infor%ation is ver/ significant in t"e preparation of t"e Bank Reconciliation State%ent>BRS?.

+o set up t"e opening $alance for eac" of t"e !as" in Bank D -ocal !urrenc/ $ank account=t"e following steps s"all $e o$served

1. !lick t"e Bank #eposits transaction t/pe.2.Set t"e


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+"e ournal entr/ would appear as

+ransaction and 'ccounting 3ntriesFund

Source!ode

MFO)8'8!ode O$ ect !ode #e$it !redit

!as" in Bank D -!!' >Bank 'ccount o. 1?!as" in Bank D -!!' >Bank 'ccount o. 2?!as" in Bank D -!!' >Bank 'ccount o. ?!as" in Bank D -!!' >Bank 'ccount o. (? !as" in Bank D -!!' >+otal per BS?

Record $ank details for !as" in Bank D -!!' accounts

161161161161161161161161161161

666666666666666666666666666666666666666666666

161626261*161626261*161626262(16162626 21616262666

4=444.444=444.444=444.444=444.44

4=444.44

+"e sa%e principle applies to !as" in Bank D -ocal !urrenc/= Saving #eposit and !as" inBank D Foreign !urrenc/= Savings 'ccount= if an/.

8age ,


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0 +an1 "isbursement

08' *-er-iew o# +an1 "isbursements

Bank #is$urse%ent refers to t"e pa/%ent transactions involving #ep3dEs $ank accounts or financial transactions resulting to credits in t"e $ank account $alances. +"is transaction t/peincludes t"e following= $ut not li%ited to

G !"eck #is$urse%entsG 'ut"orit/ to #e$it 'ccount >'#'? or otice of +ransfer of 'llocation > +'?

#is$urse%entsG !ancelled !"ecks and)or Stale !"ecksG -apsing of !' and)or +'G Bank !"arges

08% Chec1 "isbursement

!"eck #is$urse%ents are pa/%ents %ade to various creditors or pa/ees t"roug" t"e use of paper c"ecks. +"e two t/pes of c"ecks $eing issued $/ #ep3d are t"e M#S !"eck and!o%%ercial !"ecks. M#S !"ecks are issued $/ govern%ent agencies= suc" as #ep3d=c"argea$le against t"e account of t"e Bureau of +reasur/ >B+r? w"ic" is %aintained invarious aut"ori:ed govern%ent servicing $anks >' SB?. +"ese are covered $/ otice of !as" 'llocation > !'?= an aut"ori:ation issued $/ t"e #BM to govern%ent agencies towit"draw cas" fro% t"e ational +reasur/ t"roug" t"e issuance of M#S c"ecks. !o%%ercial!"ecks are issued $/ #ep3d against its non M#S $ank accounts= suc" as Revolving Fundsand +rust Receipts.

+"e necessar/ reference docu%ents to support t"e recording of c"eck dis$urse%enttransactions are t"e following

• !op/ of c"eck issued• #is$urse%ent ;ouc"er >#;?•

O$ligation Re uest >OBr?• Reference issued c"eck %a/ also $e re uired for t"e 8ett/ !as" Fund >8!F?replenis"%ents and ot"er si%ilar transactions.

+o record t"e transaction in t"e eFRS= t"e following steps s"all $e o$served

1.Set t"e


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. !lick and select t"e su$ transaction t/pe= H!"eck #is$urse%entsI= and c"oose t"eappropriate Fund Source !ode fro% t"e dropdown lists.

(.0nput all re uired data fro% t"e #; to t"e entr/ for%. Re%e%$er= donEt leave an/ field$lankJ

5. !o%plete t"e accounting entries click and select appropriate MFO)8'8 and O$ ect!odes fro% t"e dropdown lists and enter into t"e corresponding de$it and credita%ounts. ote t"at t"e MFO)8'8 !odes %ust $e specified for 34pense account=suc" as 8S= MOO3= Financial 34penses >if an/? and !apital Outla/s codes.Ot"erwise= c"oose nine :eroes or one as MFO)8'8 !ode.

*. ;erif/ t"e de$it and credit entries $efore clicking t"e H8ost +ransactionI $utton.#escriptions for eac" entr/ level are reflected at t"e $otto% of t"e displa/ page.Make sure t"at t"e $alance c"ecker s"ows :ero a%ounts and no 3RRORS.

7.A"en necessar/= print t"e


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Re uired infor%ation fro% supporting docu%ents= suc" as #;.

+"e co%%on transactions under t"is transaction t/pe include grant of !as" 'dvances for travel= pa/roll or MOO3s= esta$lis"%ent and replenis"%ents of 8!F= and pa/%ent tosuppliers or creditors. 0llustrative accounting entries for so%e related transactions are asfollows


Source!ode


8ett/ !as" Fund !as" D M#S= Regular

3sta$lis"%ent of 8!F

161161161161

666666666666666666

16161626661616(6(666

4=444.444=444.44

'dvances to Officers and 3%plo/ees 161161 666666666 1&&616(666 4=444.44

8age 11


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Source!ode


!as" D M#S= Regular rant of cas" advance for travel

161161 666666666 1616(6(666 4=444.44

'dvances for Operating 34penses!as" D M#S= Regular

rant of cas" advance for MOO3s

161161161161

666666666666666666

1&&61616661616(6(666

4=444.444=444.44

'dvances to Special #is$ursing Officer!as" D M#S= Regular rant of cas" advance for training

161161161161 666666666666666666 1&&616 6661616(6(666 4=444.44 4=444.44

'dvances for 8a/roll !as" D M#S= Regular

rant of cas" advance for pa/roll

161161161161

666666666666666666

1&&61626661616(6(666

4=444.444=444.44

#ue to S0S D -ife and Retire%ent 8re%iu%#ue to S0S D 3!!#ue to S0S D Salar/ -oan#ue to S0S D 8olic/ -oan#ue to 8ag 0B0 D 8ag 0B0 8re%iu%#ue to 8ag 0B0 D 8ag 0B0 Multi 8urpose-oan#ue to 8ag 0B0 D 8ag 0B0 @ousing -oan#ue to 8"il@ealt"Ot"er 8a/a$les !as" D M#S= Regular

Re%ittance of salar/ deductions

161161161161161161161161161161161161161161161161161161161161

666666666666666666666666666666666666666666666666666666666666666666666666666666666666666666

26261626612626162662262616266262616266(262616 661262616 662262616 66262616(6662&&&&&&6661616(6(666

4=444.444=444.444=444.444=444.444=444.444=444.444=444.444=444.444=444.44

4=444.44

Retire%ent and -ife 0nsurance 8re%iu%s !as" D M#S= Regular

Re%ittance of govern%ent s"are

16(16216(162

62656662666666666

5616 616661616(6(666

4=444.444=444.44

8ag 0B0 !ontri$utions8"il@ealt" !ontri$utions3%plo/ees !o%pensation 0nsurance8re%iu%s !as" D M#S= Regular

Re%ittance of govern%ent s"areK

161161161161161161161161

626566662656666265666

666666666

5616 626665616 6 6665616 6(6661616(6(666

4=444.444=444.444=444.44

4=444.44

3lectricit/ 34penses !as" D M#S= Regular

8a/%ent of M3R'-!O $ill

161161161161

166616666666666666

5626(626661616(6(666

4=444.444=444.44

+elep"one 34penses0nternet Su$scription 34penses !as" D M#S= Regular

8a/%ent of 8-#+ $ill

161161161161161161

166616666166616666666666666

5626562666562656 6661616(6(666

4=444.444=444.44

4=444.44

Office Supplies 34penses

8ostage and !ourier Services !as" D M#S= Regular Replenis"%ent of 8!F

161161

161161161161

166616666

166616666666666666

5626 61666

56265616661616(6(666

4=444.44

4=444.44 4=444.44

#ue fro% 's!as" D M#S= Regular

'dvance pa/%ent to #BM8rocure%ent Service

161161161161

666666666666666666

16 6 616661616(6(666

4=444.444=444.44

!onstruction in 8rogress D Buildings L Ot"er Structures 'dvances to !ontractors #ue to B0R Ot"er 8a/a$les !as" D M#S= Regular

8rogress pa/%ents

161161

161161161161161161161161

6262666,

666666666666666666666666666666666666

16*166 666

1&&626166626261616662&&&&&&6661616(6(666

4=444.44

4=444.444=444.444=444.444=444.44

8age 12


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*comes in different supporting documents: OBr, DV, etc.

080 A"A "isbursement

#is$urse%ents t"roug" t"e 'ut"orit/ to #e$it 'ccount >'#'? are settle%ents of lia$ilitiesusing t"e electronic fund transfer >3F+? aut"ori:ed $/ t"e govern%ent agencies. '#' isissued in lieu of paper c"ecks. 0t %a/ $e issued $/ t"e #BM to settle lia$ilities listed in t"e-ist of #ue and #e%anda$le 'ccounts 8a/a$le >-##'8? su$%itted $/ #ep3d. 0t %a/ also$e issued $/ #ep3d itself against its M#S $ank accounts.

+"e necessar/ reference docu%ents to support t"e recording of $ank dis$urse%enttransactions are t"e following

• Bank validated '#'• #;• OBr

+o record t"e transaction in t"e eFRS= follow t"e steps o$served in t"e c"eck dis$urse%entsa$ove= e4cept for t"e transaction su$ t/pe. !lick and select t"e su$ transaction t/pe= H'#'

#is$urse%entsI= and fill out t"e for% using t"e data fro% t"e supporting docu%ents and t"edropdown lists.

Ot"er t"an t"e regular salaries paid t"roug" '+M 8a/roll S/ste%= '#' is usuall/ issued tosettle outstanding lia$ilities= w"ile +' is for su$sidies to operating units. 0llustrativeaccounting entries for so%e related transactions are as follows


Source!ode


'ccounts 8a/a$le

!as" D M#S= Regular #ue to B0R

162161

162161162161

666666666

666666666666666666

2616161666

1616(6(6662626161666

4=444.44

4=444.444=444.44

8age 1


15/57

8a/%ent of 'ccounts 8a/a$le8repaid Rent !as" D M#S= Regular

8a/%ent of 1 /ear office rentals

161161161161

666666666666666666

1&&61616661616(6(666

4=444.444=444.44

!onstruction in 8rogress D Buildings L Ot"er Structures 'dvances to !ontractors #ue to B0R

Ot"er 8a/a$les !as" D M#S= Regular 8rogress pa/%ents

161161

161161161161

161161161161

6262666,

666666666666666666

666666666666666666

16*166 666

1&&62616662626161666

2&&&&&&6661616(6(666

4=444.44

4=444.444=444.44

4=444.444=444.44

0n case of pa/%ent of salaries and ot"er 8S ite%s t"oug"= pri%aril/ for #Os w"ic" %aintainst"e pa/roll for +eac"ers= t"e following e4tra steps %ust $e o$served

A8 The *rgani9ation Codes o# Spending Units must be considered and re#lected ineach :E)8

1. 8repare 1


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+8 The MF*;$A$ Codes #or *peration o#


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• Reference issued and cancelled c"eck• Original #;• Original OBr • Bank Reconciliation State%ent

Stale c"ecks as well as c"ecks cancelled after t"e reporting %ont" s"all re uire necessar/ad usting entries. +"e illustrative accounting entries for so%e related transactions are asfollows


Source!ode


!as" D M#S= Regular +ravelling 34pense -ocal

!"eck cancellation after t"e reporting%ont"

161161161161

666666666666666666

1616(6(6665626161666

4=444.444=444.44

!as" D M#S= Regular 'ccounts 8a/a$le

Stale c"eck

161161161161

666666666666666666

1616(6(6662616161666

4=444.444=444.44

+o record t"e transaction in t"e eFRS= o$serve t"e following steps

1. 'fter setting t"e


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Sa%ple cancelled c"eck

. !o%plete t"e reversing accounting entries click and select appropriate MFO)8'8 andO$ ect !odes fro% t"e dropdown lists and enter into t"e corresponding de$it andcredit a%ounts.

(. ;erif/ t"e de$it and credit entries $efore clicking t"e H8ost +ransactionI $utton.#escriptions for eac" entr/ level are reflected at t"e $otto% of t"e displa/ page.Make sure t"at t"e $alance c"ecker s"ows :ero a%ounts and no 3RRORS.



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084 +an1 Charges

+"is transaction t/pe s"all cover all t"e $ank c"arges. +"e ter% $ank c"arge covers allc"arges and fees %ade $/ t"e ' SB against t"e cas" in $ank $alance of t"e depart%ent.


•

Bank State%ent• Bank Reconciliation State%ent

+"e illustrative accounting entries for so%e related transactions are as follows


Source!ode


Financial 'ssistance to 's !as" D M#S= Regular

0ssuance of +' to ROs

161161161161

2661 6666666666666

5621(626661616(6(666

4=444.444=444.44

Bank !"arges

!as" D M#S= Regular 0ssuance of +' to ROs

161161

161161

166616666

666666666

56 616(666

1616(6(666

4=444.44

4=444.44

+o record t"e transaction using t"e eFRS= t"e following steps %ust $e o$served

1. 'fter setting t"e


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2.8ut :eroes in input fields w"ere infor%ation is not availa$le.

8age 1&


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Cash "isbursement

8' *-er-iew o# Cash "isbursements

!as" #is$urse%ent refers to pa/%ents %ade t"roug" cas". Most often= t"is transaction t/pecovers all li uidations of !as" 'dvances granted= suc" as= $ut not li%ited to t"e

G -i uidation of 'dvances for 8a/rollG -i uidation of !as" 'dvances for +ravelsG Final li uidation of 8!F for t"e calendar /ear G -i uidation of !as" 'dvances for Maintenance and Ot"er Operating 34penses

>MOO3? $/ t"e Spending Units >SU?G !as" pa/%ents out of collections during t"e conduct of trainings

8% Li6uidations

#is$urse%ents $/ cas" s"all $e %ade fro% cas" advances drawn and %aintained inaccordance wit" !O' rules and regulations. 'll cas" advances= for pa/roll= MOO3= traveland pett/ cas" fund= are su$ ect to li uidation= pursuant to !O' 'ccounting !ircular 266*661 dated ove%$er &= 266*.

$ayroll Fund

!as" advances granted to dis$ursing officers for t"e salaries and wages of officers ande%plo/ees and ot"er personnel $enefits s"all $e classified separatel/ fro% ot"er cas"advances given to dis$ursing officers. 'dvances for 8a/roll s"all $e li uidated wit"in five >5?da/s after t"e pa/ period.

+o record t"e pa/roll li uidation= t"e following docu%ents s"all support t"e e4pendituresG Report of #is$urse%entG 8a/rollG Original OBr G Reference issued c"eck

Using t"e eFRS= t"e following steps %ust $e o$served

1.Set t"e


22/57

(.0nput all re uired data fro% t"e Report of #is$urse%ent >R#? to t"e entr/ for%. #onEtleave an/ field $lankJ Make sure t"at t"e R#)-R contains all i%portant infor%ationfound in t"e #; and OBr ot"erwise t"e/ %ust for% part of t"e supporting

docu%ents.

5. !o%plete t"e accounting entries click and select appropriate MFO)8'8 and O$ ect!odes fro% t"e dropdown lists and enter into t"e corresponding de$it and credita%ounts.

0t is during li uidation of cas" advances t"at e4penses are recogni:ed. ote t"at t"eMFO)8'8 !odes %ust $e specified for 34pense account= suc" as 8S= MOO3=Financial 34penses >if an/? and !apital Outla/s codes. +ake t"e MFO)8'8 !odesfro% t"e original and signed OBr for%. !"oose nine :eroes or one as MFO)8'8!ode for non e4pense entries.




23/57

Re uired infor%ation fro% supporting docu%ents= suc" as R#.

8age 22

MFO)8'8 !ode


24/57



Source!ode


Salaries and Aages Regular

Salaries and Aages Regular Salaries and Aages Regular Salaries and Aages Regular 83R'83R' 'dvances for 8a/roll #ue to B0R #ue to S0S -ife L Retire%ent 8re%iu% #ue to S0S Salar/ -oan #ue to S0S 8olic/ -oan #ue to 8ag 0B0 8re%iu% #ue to 8ag 0B0 Multipurpose -oan

#ue to 8ag 0B0 @ousing -oan #ue to 8"il@ealt" Ot"er 8a/a$les

8a/roll li uidation

161161

161161161161161161161161161161161161161161161161161161161161161161161161

161161161161161161

166616666

62656661626566626265666

16661666662656661

666666666666666666666666666666666666666666666666666666666666666

666666666666666666666666666

5616161661

561616166156161616615616161661561626166656162616661&&616266626261616662626162661262616266262616266(262616 661262616 662

262616 66262616(6662&&&&&&666

4=444.44

4=444.444=444.444=444.444=444.444=444.44

4=444.444=444.444=444.444=444.444=444.444=444.444=444.44

4=444.444=444.444=444.44

Cash Ad-ance #or Tra-el

!as" advances granted for travel s"all $e accounted for as N'dvances to Officers and3%plo/eesN to esta$lis" t"e accounta$ilit/ of t"e recipient. +"is s"all $e li uidated or settledi%%ediatel/ upon travel co%pletion= evidenced $/ co%plete -i uidation Report and traveldocu%ents.

Cash Ad-ance #or Special $urpose

!as" advances granted for special ti%e $ound undertaking s"all $e accounted for asN'dvances to Special #is$ursing OfficerN to esta$lis" t"e accounta$ilit/ of t"e recipient. 0tincludes advances to defra/ training e4penses and la$or pa/roll for pro ects undertaken $/ad%inistration. +"is s"all $e li uidated or settled i%%ediatel/ after t"e co%pletion of t"eundertaking for w"ic" it was granted= evidenced $/ co%plete -i uidation Report anddocu%ents supporting t"e activit/.

Ad-ances #or *perating E=penses

!as" advances granted $/ "ig"er office to t"eir respective lower level operating units>--OU? covering $udgetar/ releases for current operating e4penses s"all $e accounted for as N'dvances for Operating 34pensesN $/ t"e releasing agenc/. +"is s"all $e li uidated or settled $efore t"e su$se uentl/ advances will $e granted.

+o record t"e li uidation of cas" advances for travel= special purpose= and operatinge4penses= t"e following docu%ents s"all support t"e e4penditures

G -i uidation #is$urse%entG Original #;G Original OBr G Reference issued c"eck

8age 2


25/57

+o record t"e transaction in t"e eFRS= follow t"e steps o$served in t"e -i uidation of !as" 'dvance 8a/roll a$ove= e4cept for t"e transaction su$ t/pe. !lick and select t"e su$transaction t/pe= H-i uidationsI= and fill out t"e for% using t"e data fro% t"e supporting-i uidation Report and t"e lists in t"e dropdown $uttons.

+ransaction and 'ccounting 3ntries Fund MFO)8'8 O$ ect !ode #e$it !redit

8age 2(


26/57

Source!ode !ode

Salaries and Aages Regular Salaries and Aages Regular Salaries and Aages Regular Salaries and Aages Regular 83R'83R'

'dvances for 8a/roll #ue to B0R #ue to S0S -ife L Retire%ent 8re%iu% #ue to S0S Salar/ -oan #ue to S0S 8olic/ -oan #ue to 8ag 0B0 8re%iu% #ue to 8ag 0B0 Multipurpose -oan #ue to 8ag 0B0 @ousing -oan #ue to 8"il@ealt" Ot"er 8a/a$les

8a/roll li uidation

161161161161161161161161161161161161

161161161161161161161161161161161161161161161161161161161161

16661666662656661626566626265666

16661666662656661

666666666666666666666666666666666666666666666666666666666666666666666666666666666666666666

561616166156161616615616161661561616166156162616665616261666

1&&616266626261616662626162661262616266262616266(262616 661262616 662262616 66262616(6662&&&&&&666

4=444.444=444.444=444.444=444.444=444.444=444.44

4=444.444=444.444=444.444=444.444=444.444=444.444=444.444=444.444=444.444=444.44

+raveling 34pense -ocal

#ue fro% Officers and 3%plo/ees+ravel li uidation

161161

161161

166616666

666666666

5626161666

1&&616(666

4=444.44

4=444.44

+raining 34pense 'dvances to Special #is$ursing Officer

+raining li uidation

161161161161

2666,6666666666666

56262616661&&616 666

4=444.444=444.44

Office Supplies 34penses3lectricit/ 34penses+elep"one 34penses


27/57

8ett/ !as" Fund s"all $e %aintained under t"e i%prest s/ste%. 's provided in 'ccounting8olicies pro%ulgated $/ !O'= all replenis"%ents s"all $e directl/ c"arged to t"e e4penseaccount and at all ti%es= t"e 8ett/ !as" Fund s"all $e e ual to t"e total cas" on "and andt"e unreplenis"ed e4penses. 8!F final li uidation s"all $e acco%plis"ed wit"in twent/ >26?da/s after t"e end of t"e /ear.

+o record t"e 8!F final li uidation of t"e /ear= t"e following docu%ents s"all support t"ee4penditures

G -i uidation #is$urse%entG 8ett/ !as" ;ouc"ersG Original OBr G Reference issued c"eck

+o record t"e transaction in t"e eFRS= follow t"e steps o$served in t"e -i uidation of !as" 'dvance 8a/roll a$ove= e4cept for t"e transaction su$ t/pe. !lick and select t"e su$transaction t/pe= H8ett/ !as"I= and fill out t"e for% using t"e data fro% t"e supporting-i uidation Report and t"e lists in t"e dropdown $uttons.



Source!ode


Office Supplies 34pensesFuel= Oil and -u$ricants 34pensesOt"er Supplies and Materials 34penses 8ett/ !as" Fund

-i uidation of #O cas" advance

161161161161161161161161

166616666166616666166616666666666666

5626 616665626 6&6665626 &&6661&&6161666

4=444.444=444.444=444.44

4=444.44

Office Supplies 34pensesFuel= Oil and -u$ricants 34pensesOt"er Supplies and Materials 34penses 8ett/ !as" Fund

-i uidation of 0U cas" advance

161161161161161161161161

626566662656666265666

666666666

5626 616665626 6&6665626 &&6661&&6161666

4=444.444=444.444=444.44

4=444.44

ote t"at for t"e -i uidation of !as" 'dvances for Operating 34penses or t"e so calledMOO3 #ownloading su$ ect to li uidation= t"e transaction categor/ would $e HSUEs MOO3-i uidationI w"ic" is a separate $utton. Refer to Section 11 $elow.

8age 2*


28/57

. Cash Collection

.8' *-er-iew o# Cash Collections

!as" collections refer to transactions involving receipts in t"e for% of cas". For #ep3d= t"istransaction t/pe accounts for t"e receipts t"at co%prise of= $ut not li%ited to= t"e following

G Refund of e4cess advancesG 0nco%e of t"e ational overn%entG Revolving FundsG +rust ReceiptsG Bail= Bonds and)or #epositsG Ot"ers= suc" as ad ust%ents on dis$urse%ents for overpa/%ent of e4pense and on

collections for t"e #is"onored c"ecks

+o record t"e collections using t"e eFRS= t"e following steps %ust $e o$served

1.Set t"e


29/57

5. 'fter inputting t"e na%e of t"e !ollecting Officer= co%plete t"e accounting entries.ote t"at t"e MFO)8'8 !ode is defaulted to one or 666666666. 0nput all re uired

data fro% t"e R!# to t"e entr/ for%= fro% OR details to credit a%ounts. For t"e de$itentr/= put :ero >6? in OR u%$er and 8a/or colu%ns= indicate t"e date $ased on t"edate prepared and signed $/ t"e !ollection Officer= and t/pe t"e total a%ount ofcollections at de$it a%ount colu%n. #onEt leave an/ field $lankJ




30/57

.8% Re#und o# Cash Ad-ance

A"en li uidation of cas" advances for salaries and wages= travels= special purpose= or operating e4penses a%ounted to less t"an t"e a%ount granted= t"e refunds t"ereof are%ade in cas"= received and issued Official Receipt $/ t"e !ollecting Officer.

+o record t"e refunds= t"e following docu%ents s"all support t"e collection

8age 2&


31/57

G Official Receipt)sG Report of !ollections and #epositsG Reference issued c"eck



Source!ode


!as" !ollecting Officer 'dvances to Officers and 3%plo/ees

Refund of e4cess cas" advance for travel

161161161161

666666666666666666

16161626661&&616(666

4=444.444=444.44

!as" !ollecting Officer 'dvances to Special #is$ursing Officer

Refund of e4cess cas" advance for training

161161161161

666666666666666666

16161626661&&616 666

4=444.444=444.44

!as" !ollecting Officer 'dvances for 8a/roll

Refund of e4cess cas" advance for

salaries and wages

161161161161

666666666666666666

16161626661&&6162666

4=444.444=444.44

!as" !ollecting Officer 'dvances for Operating 34penses

Refund of e4cess cas" advance for SUEs MOO3

161161161161

666666666666666666

16161626661&&6161666

4=444.444=444.44

.80 ncome o# the ,ational >o-ernment

0n as far as #ep3d is concerned= t"e inco%es of t"e ational overn%ent %a/ co%prise of t"e following $usiness inco%e accounts= a%ong ot"ers

• Sc"ool Fees. Fees i%posed to students of pu$lic sc"ools= including tuition=registration= at"letic= cultural= diplo%a and graduation= transcript of records= li$rar/=training= entrance e4a%ination fee= co%pre"ensive e4a%ination fee= and t"e like.

• Se%inar)+raining Fees. Fees collected or $illed for attendance in s"ort course trainingsand se%inar)works"ops.

• Rent)-ease 0nco%e. 0nco%e fro% use of govern%ent properties)facilities= suc" asrent)lease of function roo%s)$uildings

• 0nco%e fro% @ostels)#or%itories and Ot"er -ike Facilities. Fees)c"arges for t"e use of "ostels= dor%itories= cottages= guest "ouses= cafeterias= staff "ouses= lodging"ouses= and ot"er si%ilar facilities. 0f suc" inco%e results fro% t"e #ep3dEs$usiness t/pe activities= it will t"en $e considered a Revolving Fund= as descri$ed$elow.

• 0nco%e fro% 8rinting and 8u$lication. 0nco%e fro% sale of printed for%s= %aterials or ot"er pu$lications.

• 0nterest 0nco%e. 0nterest earned and)or actuall/ collected on loans receiva$le=invest%ents= $ank deposits)financial assets and t"e like.

• Ot"er Business 0nco%es

8age 6


32/57

!as" collections arising fro% t"e a$ove s"all $e received and issued Official Receipt= wit"Fund Source !ode of 161161 >unless ot"erwise specified?= $/ t"e !ollecting Officer.

+"e following docu%ents s"all support t"e collectionG Official Receipt)sG Report of !ollections and #eposits



Source!ode


!as" !ollecting Officer Sc"ool Fees Se%inar)+raining Fees Rent)-ease 0nco%e 0nco%e fro% @ostels)#or%itories 0nco%e fro% 8rinting and 8u$lication 0nterest 0nco%e Ot"er Business 0nco%e

Refund of e4cess cas" advance for travel

161161161161161161161161161161161161161161161161

666666666666666666666666666666666666666666666666666666666666666666666666

1616162666(626261666(62626(666(626265666(62621 666(626215666(626221666(6262&&666

4=444.444=444.444=444.444=444.444=444.444=444.444=444.444=444.44

.8 Re-ol-ing Fund Receipts

Revolving Funds are receipts derived fro% $usiness t/pe activities of #ep3d as aut"ori:ed$/ law= and w"ic" are deposited in an aut"ori:ed govern%ent depositor/ $ank. +"ese fundss"all $e self li uidating. 'll o$ligations and e4penditures incurred $ecause of t"ese$usiness t/pe activities s"all $e c"arged against t"e Revolving Fund.

+"e list of aut"ori:ed revolving funds for #ep3d follows

• Specific #ep3d Sc"ool

o Sc"ool Revolving Fund. 0nco%e earned fro% %anufacturing and productionprogra%s= including au4iliar/ services of national sc"ools. Fund Source !odeis 267511

• Specific #ep3d RO

o R3-! Revolving Fund. Registration Fees of Regional 3ducation -earning!enters >B.8. *, 1?. Fund Source !ode is 267512

o

3co +ec" !enter Revolving Fund. 0nco%e fro% se%inars and conferences.Fund Source !ode is 26751

o 'pplied utrition !enter Revolving Fund. 0nco%e fro% #or%itor/ Operationsand Miscellaneous 0nco%e. Fund Source !ode is 26751(

o Boraca/ ational @ig" Sc"ool @ostel Revolving Fund. 0nco%e fro% #or%itor/Operations= Miscellaneous 0nco%e. Fund Source !ode is 267515

• OS3! Baguio +eac"ers !a%p Revolving Fund. -odging Fees= Rental of Facilities=0nterest 0nco%e > ''?. Fund Source !ode is 26751*

• ational 3ducators 'cade%/ of t"e 8"ilippines. > 3'8? Revolving Fund. RegistrationFees= Use of Buildings= 0nterest 0nco%e >F 1*1?. Fund Source !ode is 267517

8age 1


33/57

• ational Science +eac"ing 0nstru%entation !enter > S+0!? Revolving Fund. Rental of Staff @ouses. Fund Source !ode is 26751,

• ational Museu% Revolving Fund. 0nco%e fro% Museu% operations >Repu$lic 'ct,(&2?. Fund Source !ode is 26751&

!as" collections arising fro% t"e a$ove s"all $e received and issued OR= wit" appropriateFund Source !ode= $/ t"e !ollecting Officer.




Source!ode


!as" !ollecting Officer Registration Fees

Receipts fro% R3-! Operations

267512267512

666666666666666666

1616162666(626162666

4=444.444=444.44

!as" !ollecting Officer Se%inar)+raining Fees

Receipts fro% 3co tec" Operations

2675126751

666666666666666666

1616162666(62626(666

4=444.444=444.44

!as" !ollecting Officer Registration Fees Rent)-ease 0nco%e 0nterest 0nco%e

Receipts fro% 3'8 Operations

267517267517267517267517

666666666666666666666666666666666666

1616162666(626162666(626265666(626221666

4=444.444=444.444=444.444=444.44

.8. Trust Receipts

+rust Receipts are receipts t"at are officiall/ in t"e possession of govern%ent agencies or apu$lic officer as trustee= agent= or ad%inistrator= or w"ic" "ave $een received for t"efulfil%ent of a particular o$ligation.

!ollections %ade on $e"alf of ot"er agencies w"ic" are later re%itted to t"e% are recordedas 0nter 'genc/ 8a/a$les or +rust -ia$ilities= as t"e case %a/$e. 'ut"ori:ed collections%ade on $e"alf of private entities= like t"ose collected and re%itted to 8rivate -ending0nstitutions are recorded as HOt"er 8a/a$lesI. 8erfor%ance $ond posted $/ contractor or supplier to guarant/ full and fait"ful perfor%ance of t"eir contract %a/ $e in t"e for% of cas"or certified c"ecks or suret/. 8erfor%ance $ond in cas" or certified c"eck s"all $eacknowledged $/ t"e issuance of official receipt. A"en t"ese accounts for% part of t"e

eneral Fund= t"en t"e Fund Source !ode would $e 161161.

For #ep3d= in t"e $ooks of accounts of t"e Office of t"e Secretar/= trust receipts arise fro%t"e Service Fees= also known as t"e ational 8rovident Fund. 0n t"e ational Book#evelop%ent Board= t"e receipts co%e fro% t"e contri$utions fro% 8' !OR and 8!SO>R.'. &521? and rant fro% !!'. 0n t"e ational !ouncil for !"ildrenEs +elevision= t"econtri$utions fro% 8' !OR and 8!SO >R.'. , 76? are sources of trust receipts. For t"e8"ilippine @ig" Sc"ool for t"e 'rts= receipts arise fro% t"e donations and solicitations for various pro ects >3.O. (26?. 'nd for t"e ational Museu%s= t"e donations fro% 8atrons aret"e considered trust receipts. +"e Fund Source !ode is 6,*62

!as" collections arising fro% t"e a$ove s"all $e received and issued Official Receipt= wit"

appropriate Fund Source !ode= $/ t"e !ollecting Officer. +"e Fund Source !ode of all ot"er trust receipts= not specificall/ identified a$ove= is 6,*6 .

8age 2


34/57




Source!ode


!as" !ollecting Officer +rust -ia$ilities D 8rovident Fund

Receipts fro% Service Fees in OS3!$ooks of accounts

6,*626,*62

666666666666666666

161616266626(6161666

4=444.444=444.44

!as" !ollecting Officer Bail Bonds 8a/a$le uarant/)Securit/ #eposits 8a/a$le Ot"er 8a/a$les

Receipts of trust funds

161161161161161161161161

666666666666666666666666666666666666

161616266626(616 66626(616(6662&&&&&&666

4=444.444=444.444=444.444=444.44

.84 Re#und #or *-erpayment o# E=penses

Refunds as a result of overpa/%ent of e4penses s"all $e recorded as an ad ust%ent to t"eappropriate e4pense account if paid in t"e sa%e /ear or to overn%ent 3 uit/ if paid in t"eensuing /ear. +"is transaction s"all reduce t"e a%ount of e4pense previousl/ recorded.

+"e following docu%ents s"all support t"e collectionG Official Receipt)sG Report of !ollections and #epositsG Original #;G Original OBr



Source!ode


!as" D !ollecting Officer Aater 34penses 3lectricit/ 34penses

Receipts fro% t"e !anteen

161161161161161161

666666666666666666666666666

16161626665626(616665626(62666

4=444.444=444.444=444.44

.8/ "ishonored Chec1s+"ere are instances t"at c"ecks received $/ !ollecting Officers in pa/%ent of ta4es= feesand ot"er de$t due t"e govern%ent are dis"onoured $/ t"e drawee $anks. ' c"eck is saidto $e dis"onoured $/ non pa/%ent w"en= upon its $eing dul/ presented for pa/%ent= suc"pa/%ent is refused or cannot $e o$tained. >Sec. , = R. '. o. 26 1= egotia$le 0nstru%ent-aw?. 0t %a/ also $e defined as t"ose c"ecks paid to t"e agenc/= w"ic" were dis"onoured $/t"e ' #B due to #rawn 'gainst 0nsufficient Fund or #rawn 'gainst Uncleared #eposits.

+"e following docu%ents s"all support t"e collectionG #is"onored c"eckG Official Receipt)s

G Report of !ollections and #eposits

8age


35/57



Source!ode


'ccounts Receiva$le!as" D !ollecting Officer

Return of dis"onoured c"eck

161161161161

666666666666666666

16 61616661616162666

4=444.444=444.44

8age (


36/57

4 +an1 "eposit

48' *-er-iew o# +an1 "eposits

Bank #eposits refer to t"e transactions of putting %onies into t"e $ank. For t"e w"ole of #ep3d= t"ere are five >5? t/pes of $ank accounts %aintained in ' #B= t"ese are B+r= M#S=-!!'= -ocal !urrenc/ Saving 'ccount and Foreign !urrent Saving 'ccount. #eposit"owever is not applica$le for t"e M#S accounts w"ere c"eck issuances are financed directl/$/ t"e B+r t"roug" t"e ' #B.

+"is transaction t/pe covers all transactions resulting to increases in $ank account $alances=$ut not li%ited to t"e following transactions

G Receipt of !') +'G #eposit of collectionsG Ot"er for%s of deposits or ad ust%ents t"ereto= suc" as

o Ot"er +rust receiptso #is"onored c"ecks

+o record t"e deposits using t"e eFRS= t"e following steps %ust $e o$served

1.Set t"e 6? in #S u%$er and Bank 'ccount

o. colu%ns= indicate t"e date $ased on t"e date prepared and signed $/ t"e!ollection Officer= and t/pe t"e total a%ount of deposits at credit a%ount colu%n.#onEt leave an/ field $lankJ




37/57

0nfor%ation fro% t"e #eposit Slip

8age *

Fro% t"e sa%eR!# as t"ecollection

22

1


38/57

48% "eposits o# Collections

's a rule= all collections %ade $/ #ep3dEs operating units will $e deposited to t"e account of t"e depart%ent or t"e +reasurer of t"e 8"ilippines dail/ or not later t"an t"e ne4t $anking

da/. 'll deposits %ust $e evidenced $/ #eposit Slips >#S? and R!#s.+"e illustrative accounting entries for so%e related transactions are as follows


Source!ode


!as" D 'genc/)'genc/ #eposit= Regular !as" D !ollecting Officer

#eposit of collections

161161161161

666666666666666666

1616(616661616161666

4=444.444=444.44

!as" D 'genc/)'genc/ #eposit= +rust !as" D !ollecting Officer

#eposit of +rust collections

161161161161

666666666666666666

1616(6 6661616161666

4=444.444=444.44

!as" in Bank D -!!'!as" D !ollecting Officer

#eposit of Revolving Fundscollections in #B8 accounts

267512267512

666666666666666666

161626261*1616161666

4=444.444=444.44


#eposit of +rust receipts in -B8accounts

161161161161

666666666666666666

161626262(1616161666

4=444.444=444.44


#eposit of 8rovident Fund in 8;Baccounts

6,*626,*62

666666666666666666

16162626 21616161666

4=444.444=444.44

8age 7

22

1 #eposit Slip o.

#eposit #ate

Bank 'ccount o.


39/57

480 Trust Fund

+rust Fund is a fund w"ic" accounts for t"e receipts $/ an/ #ep3d operating unit or $/ apu$lic officer acting as trustee= agent= or ad%inistrator for t"e fulfil%ent of so%e o$ligations.Receipted trust fund collections will fall under deposits of collections as illustrated a$ove. For trust receipts t"at will not course t"roug" a collection and credited directl/ to t"e re uired$ank account= depending on t"e trust agree%ent= t"e recording of transaction %ust $ase ont"at signed trust agree%ent and $ank advice.



Source!ode


!as" in Bank D -!!'+rust -ia$ilities

Receipt of +rust Funds in t"e -B8accounts

161161161161

666666666666666666

161626262(26(6161666

4=444.444=444.44

48 Ad?ustment to +an1 "eposits

+"ere are instances t"at c"ecks received $/ !ollecting Officers in pa/%ent of ta4es= feesand ot"er de$ts due to t"e govern%ent are dis"onored $/ t"e drawee $anks. ' c"eck issaid to $e dis"onored $/ non pa/%ent w"en= upon its $eing dul/ presented for pa/%ent=suc" pa/%ent is refused or cannot $e o$tained. >Sec. , = R' o. 26 1= egotia$le0nstru%ent -aw?. 0t %a/ also $e defined as t"ose c"ecks paid to t"e agenc/= w"ic" weredis"onored $/ t"e ' #B due to #rawn 'gainst 0nsufficient Fund or #rawn 'gainstUncleared #eposits.

+"e following docu%ents s"all support t"e collectionG #is"onored c"eckG Report of !ollections and #epositsG Reference #eposit Slip



Source!ode


!as" D !ollecting Officer !as" D +reasur/)'genc/ #eposit=Regular

Return of dis"onoured c"eck

161161161161

666666666666666666

16161616661616(61666

4=444.444=444.44

8age ,


40/57

/ *ther Transactions

/8' *-er-iew o# *ther Transactions

Ot"er +ransactions refer to all t/pes of financial transactions t"at cannot $e categori:ed $/an/ of t"e identified t/pes of transactions a$ove. on cas" transactions nor%all/ fall under t"is categor/= suc" as $ut not li%ited to t"e following

• !' and)or +' Receipts and its -apsing• Re%ittances to t"e Bureau of 0nternal Revenue >B0R? t"roug" a +a4 Re%ittance 'dvice

>+R'?• on cas" e4penses= including t"e Supplies and Materials issued and used=

0%pair%ent -osses= #epreciation 34penses= and t"e like• !orrection or ad usting entries• Mid /ear or 9ear end closing of no%inal accounts

/8% ,CA;,TA Receipt

' M#S is a procedure w"ere$/ t"e dis$urse%ents $/ t"e govern%ent agencies= c"argea$leagainst t"e account of t"e +reasurer of t"e 8"ilippines= are effected t"roug" t"e ' SB. 0t isevidenced $/ an aut"ori:ation= t"e !'= issued $/ t"e #BM to #ep3dEs operating units= towit"draw cas" fro% t"e ational +reasur/ t"roug" t"e issuance of M#S c"ecks. +"is is t"ecas" aut"orit/ granted to !O= ROs= #Os= and 0Us t"roug" t"e ' SBs of t"e M#S. !urrentl/=t"e M#S is $eing serviced $/ t"e -ank Bank of t"e 8"ilippines >-B8?= #evelop%ent Bank of t"e 8"ilippines >#B8? and 8"ilippine ;eterans Bank >8;B?.

+"e a%ount indicated in t"e !' is considered a $ank deposit. Suc" will $e recorded in t"e$ooks of accounts= to $e supported $/ t"e 'dvice of otice of !as" 'llocation 0ssued>' !'0?.


8age &

Based ont"e !' or

Su$ 'RO) +'


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Source!ode


!as" D M#S= Regular Su$sid/ fro% ational overn%ent

Receipt of !'

161161161161

666666666666666666

1616(6(666(6 6161666

4=444.444=444.44

otice of +ransfer of 'llocation > +'? is a sc"e%e w"ere$/ #ep3d s"all instruct t"eir M#S

' SB to transfer a specific a%ount out of t"eir !' availa$le $ook $alance to t"e M#Saccounts of t"e --OU wit"in t"e sa%e depart%ent= receiving !' directl/ fro% t"e #BM.+"e individual M#S ' SB of t"e recipient ' s"all $e t"e sa%e M#S ' SB as t"at used$/ t"e transferring '.

0n t"e case of t"e receiving '= t"e a%ount indicated in t"e +' is considered a $ankdeposit. Suc" will $e recorded in t"e $ooks of accounts= to $e supported $/ approved cop/of +'.

+ransaction and 'ccounting 3ntries

Fund

Source!ode


!as" D M#S= Regular Su$sid/ fro% Ot"er 's

Receipt of !'

161161161161

666666666666666666

1616(6(666(6 6162666

4=444.444=444.44


+o record t"e a$ove transactions using t"e eFRS= t"e following steps %ust $e o$served

1.Set t"e


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7. ;erif/ t"e de$it and credit entries $efore clicking t"e H8ost +ransactionI $utton.#escriptions for eac" entr/ level are reflected at t"e $otto% of t"e displa/ page.Make sure t"at t"e $alance c"ecker s"ows :ero a%ounts and no 3RRORS.

,.A"en necessar/= print t"e


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/80 Remittances to + R

For all 's= like #ep3d= perfor%ing as a wit""olding agent= t"e re%ittance of ta4eswit""eld to t"e B0R is done regularl/ t"roug" issuance of +a4 Re%ittance 'dvice >+R'?. +R'is t"e Hconstructive pa/%entI docu%ent w"ic" agencies issue)file wit" t"e B0R to report andrecord re%ittances of all ta4es wit""eld fro% various transactions. +"is serves as $asis for B0R and B+r to record as inco%e= t"e ta4 collection and deposit in t"eir $ooks of accounts.

+"e following docu%ents s"all support t"e re%ittanceG +R'G B0R For%s >1*66= 1*61!= 1*613= etc.?

+"e accounting entries for so%e related transactions are as follows


Source!ode


#ue to B0R Su$sid/ fro% ational overn%entB0R re%ittances t"ru +R'

161161161161 666666666666666666 2626161666(6 6161666 4=444.44 4=444.44

Recording re%ittances in t"e eFRS s"all follow t"e sa%e steps as !' Receipt= e4cept fort"e su$ transaction t/pe w"ic" will $e HRe%ittances to B0RI and t"e a$sence of Bank

'ccount o. See $elow t"e illustrations for %ore guidance.

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0nfor%ation fro% +R'

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Re uired input fields

0nfor%ation fro% +R'

/8 ,on@Cash E=penses

mpairment Losses

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+"e i%pair%ent of assets= suc" as 0nvest%ents= Receiva$les= 0nventories= 8ropert/= 8lantand 3 uip%ent= and Ot"er 'ssets= seeks to ensure t"at t"ese assets are not carried at %oret"an t"eir recovera$le a%ount >i.e. t"e "ig"er of fair value less costs of disposal and value inuse?.

'n i%pair%ent loss is a t/pe of one ti%e or nonrecurring c"arge t"at is entered into t"eaccounting records as a %eans of correcting t"e value of an asset t"at "as an overstated$ook value. +"e idea is to reduce t"at $ook value down to w"at is considered a fair value=

allowing for w"atever factors "ave caused t"e c"ange in t"e wort" of t"at asset. Fro% t"isperspective= i%pair%ent losses can $e seen as accounting procedures t"at "elp to create a%ore $alanced and accurate assess%ent of t"e true and current value of an/ assets "eld $/#ep3d.

+"e accounting treat%ent and support docu%entation for t"e recognition of i%pair%ent losss"all $e dependent on t"e !O' guidelines= as t"is is newl/ introduced in t"e Revised !"artof 'ccounts >!O' !ircular o. 261 662?.

+o recording t"e transaction in t"e eFRS= follow t"e sa%e steps as !' Receipt= e4cept fort"e su$ transaction t/pe w"ic" will $e HRe%ittances to B0RI and t"e a$sence of Bank 'ccount o. See $elow t"e illustrations for %ore guidance.

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Since Bad #e$ts 34pense is replaced $/ 0%pair%ent -oss D -oans and Receiva$les= t"e 'ging of Receiva$les %a/ support t"e recognition. +"e illustrative accounting entries are asfollows


Source!ode


0%pair%ent -oss D 'ccounts Receiva$le 'llowance for 0%pair%ent D 'R

8rovision for i%pair%ent losses

161161161161

666666666666666666

5656 6266616 6161166

4=444.444=444.44

"epreciation #or $roperty $lant and E6uipment

+"e costs of propert/= plant and e uip%ent are allocated to t"e periods $enefited t"roug" t"eprovision of accu%ulated depreciation. #epreciation is t"e s/ste%atic and gradual allocationof t"e deprecia$le a%ount of asset over its useful life.

Ot"er t"an t"e provision for i%pair%ent losses= t"e periodic allocation of cost for t"e wear and tear of all 8ropert/= 8lant and 3 uip%ent t"e 'ging of Receiva$les will also $erecogni:ed $ased on t"e Sc"edule of #epreciation. +"e illustrative accounting entries are asfollows


Source!ode


#epreciation D Buildings#epreciation D Sc"ool Building#epreciation D @ostels and #or%itories#epreciation D Office 3 uip%ent

161161161161161161161161

1666166666265666

166616666166616666

565616(661565616(662565616(66*5656165662

4=444.444=444.444=444.444=444.44

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#epreciation D 0!+ 3 uip%ent#epreciation D Motor ;e"icles#epreciation D Furniture and Fi4tures#epreciation D Books 'ccu. #epreciation D Buildings 'ccu. #epreciation D Sc"ool Building 'ccu. #epEn D @ostels and #or%itories 'ccu. #epreciation D Office 3 uip%ent

'ccu. #epreciation D 0!+ 3 uip%ent 'ccu. #epreciation D Motor ;e"icles 'ccu. #epEn D Furniture and Fi4tures 'ccu. #epreciation D Books

8rovision for depreciation of t"e /ear

161161161161161161161161161161161161161161161161

161161161161161161161161

62656662166616666

626566662656662

666666666666666666666666666666666666

666666666666666666666666666666666666

565616566565616*6615656167661565616766216*6(6116616*6(6216616*6(6*16616*6562166

16*656 16616*6*6116616*676116616*6762166

4=444.444=444.444=444.444=444.44

4=444.444=444.444=444.444=444.44

4=444.444=444.444=444.444=444.44

/8. >eneral Corrections;Ad?ustments

Accounting #or "isallowances

#isallowances s"all $e taken up in t"e $ooks of accounts onl/ w"en t"e/ $eco%e final ande4ecutor/. 0t will $e accounted for as an 34pense if it pertains to t"e current /ear or as anad ust%ent to t"e overn%ent 3 uit/ account if pertaining to e4penses of prior /ears.

Based on t"e approved otice of #isallowances fro% !O'= t"e recording and entr/ to eFRSs"all follow t"e illustrations and accounting entries $elow

+o recording t"e transaction in t"e eFRS= follow t"e sa%e steps as !' Receipt= e4cept fort"e su$ transaction t/pe w"ic" will $e HRe%ittances to B0RI and t"e a$sence of Bank

'ccount o. See $elow t"e illustrations for %ore guidance.

+"e illustrative accounting entries are as follows

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Source!ode


0%pair%ent -oss D 'ccounts Receiva$le 'llowance for 0%pair%ent D 'R

8rovision for i%pair%ent losses

161161161161

666666666666666666

5656 6266616 6161166

4=444.444=444.44

Accrued and "e#erred tems

Under t"e %atc"ing principle= ad ust%ents s"all $e %ade for econo%ic activities t"at "avetaken place $ut are not /et recorded at t"e ti%e w"en t"e financial state%ents are prepared.Suc" ad usting ournal entries are %ade to ensure t"at revenues and e4penses are recordedin t"e period w"en t"e/ are earned or incurred.

!o%%on transactions under t"is categor/ are Supplies and Materials 0ssued and ot"er prepa/%ents. !o%pletion= acceptance and turn over of constructed 8ropert/= 8lant and3 uip%ent also re uire ad ust%ents.

+"e supporting docu%ents re uired are t"e followingG Report of Supplies and Materials 0ssued fro% t"e 8ropert/ and Suppl/ Unit

G !ertificate of !o%pletionG !ertificate of +urn over and 'cceptanceG -ease 'gree%ent



Source!ode


Office Supplies 34pense Office Supplies 0nventor/

Record e4pense portion

161161161161

166616666666666666

5626 6166616(6(61666

4=444.444=444.44

Rent)-ease 34pense 8repaid RentRecord e4pense portion

161161161161 166616666666666666 562&&656661&&6262666 4=444.44 4=444.44

Sc"ool Buildings!onstruction in 8rogress D Buildings LOt"er Structures

Record co%pleted= turned over andaccepted 883.

161161161161

666666666666666666

16*6(6266616*166 666

4=444.444=444.44

/84 ,CA;,TA Lapsing

Starting '?Es regular Modified #is$urse%ent S/ste%su$ accounts for an/ given uarter s"all $e valid until t"e last working da/ of t"e rd %ont"of t"at uarter. +"us= t"e difference $etween t"e !' and t"e Report of !"eck 0ssued >R!0?and '#' s"all $e considered lapsed auto%aticall/.

+' will also lapse along wit" t"e !' lapsing period. A"en +' is issued out of t"e M#S+rust account= t"e allocation will lapse at t"e end of t"e /ear.


• +' or !op/ of c"eck issued• #;• OBr

8age (,


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0llustrative accounting entries for so%e related transactions are as follows


Source!ode


Su$sid/ fro% ational overn%ent !as" D M#S= Regular

-apsing of !'

161161161161

666666666666666666

(6 61616661616(6(666

4=444.444=444.44

Su$sid/ fro% Ot"er 's !as" D M#S= Regular

-apsing of +'

161161161161

666666666666666666

(6 61626661616(6(666

4=444.444=444.44

/8/ Bear@end Closing

!losing ournal entries are general ournal entries w"ic" close out t"e $alances of allno%inal) te%porar/ and inter%ediate accounts at t"e end of t"e accounting period. +"eno%inal and inter%ediate accounts t"at s"all $e closed at t"e end of t"e accounting periodare as follows



Source!ode


Su$sid/ fro% ational overn%entSu$sid/ fro% Ot"er 'sSc"ool FeesSe%inar)+raining FeesRent)-ease 0nco%e0nco%e fro% @ostels)#or%itories

161161161161161161161161161161161161

666666666666666666666666666666666666666666666666666666

(6 6161666(6 6162666(626261666(62626(666(626265666(62621 666

4=444.444=444.444=444.444=444.444=444.444=444.44

8age (&


51/57

0nco%e fro% 8rinting and 8u$lication0nterest 0nco%eOt"er Business 0nco%e 0nco%e and 34pense Su%%ar/

!lose inco%e accounts

161161161161161161161161

666666666666666666666666666666666666

(626215666(626221666(6262&&666

6 6161666

4=444.444=444.444=444.44

4=444.44

0nco%e and 34pense Su%%ar/ Salaries and Aages Regular

83R'

Retire%ent and -ife 0nsurance 8re%iu%s 8ag 0B0 !ontri$utions 8"il@ealt" !ontri$utions 3%plo/ees !o%p 0nsurance 8re%iu%s +raveling 34pense D -ocal +raining 34pense Office Supplies 34penses Fuel= Oil and -u$ricants 34penses Ot"er Supplies and Materials 34penses 3lectricit/ 34penses 8ostage and !ourier Services +elep"one 34penses

0nternet Su$scription 34penses


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3 SU5s M**E Li6uidation

38' *-er-iew o# M**E Li6uidation

!as" advances granted $/ #ivision Offices to t"eir respective Spending Units covering$udgetar/ releases for current operating e4penses= Maintenance and Ot"er Operating34penses %ost particularl/= s"all $e accounted for as N'dvances for Operating 34pensesN$/ t"e releasing agenc/. +"is s"all $e li uidated or settled $efore t"e su$se uent advanceswill $e granted.

+"is particular transaction t/pe will onl/ $e used $/ t"e #ivision Office concerned.

+o record t"e li uidation of cas" advances for travel= special purpose= and operatinge4penses= t"e following docu%ents s"all support t"e e4penditures

G -i uidation ReportG Receipts)0nvoicesG Original #;G Original OBr G Reference issued c"eck

Using t"e eFRS= t"e following steps %ust $e o$served

1.Set t"e


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. !lick and select t"e su$ transaction t/pe= w"et"er purel/ H-i uidationI= H!as" 'dvance8a/rollI or H8ett/ !as"I= and c"oose t"e appropriate Fund Source !ode fro% t"edropdown lists. +"e Fund Source code s"ould $e consistent wit" t"e code in t"eoriginal OBr.

(.Suppl/ all onl/ for Secondar/ Sc"ools? wit" ownOrgani:ation !ode $ased on t"e -i uidation Report su$%itted. SUs wit"out assignedOrgani:ation !odes s"all $e accounted for using t"e #O properEs Organi:ation!ode.

5. !lick and select t"e appropriate MFO)8'8 !ode for HMFO2 Operation of Sc"ools DSecondar/ Sc"oolsI= i.e. 6265666 = fro% t"e dropdown list in t"e 'ccounting entriessection. +"e suppl/ t"e appropriate O$ ects !odes and t"e corresponding a%ountsof $ot" de$it and credit entries.




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0nfor%ation fro% t"e -i uidation Report

+"e illustrative accounting entries for t"e related li uidation of t"e cas" advance for MOO3are as follows

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+ransaction and 'ccounting3ntries

FundSource!ode

Org !ode MFO)8'8!ode O$ ect !ode #e$it !redit

Office Supplies 34penses3lectricit/ 34penses+elep"one 34penses


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2 Fre6uently As1ed 7uestions

1.@ow to account for 8rior 8eriod 'd ust%ents >88'? 's provided in t"e !O' !ircular o. 261 662 on t"e 'doption of t"e Revised !"artof 'ccounts for ational overn%ent 'gencies= t"e account overn%ent 3 uit/ isdescri$ed as t"e account to $e used to record t"e cu%ulative results of nor%al andcontinuous operations of t"e agenc/ including prior period ad?ustments = effects ofc"anges in accounting polic/ and ot"er capital ad ust%ents. Suffice it to sa/ t"at all88' outstanding $alances and t"ose current transactions wit" si%ilar treat%ents will$e closed to t"e overn%ent 3 uit/ account= unless ot"erwise specified $/ t"e !O'.

2.Ae account downloading of MOO3 to non 0Us >SUs? as an outrig"t e4pense. 0s t"isaccepta$leReporting t"e MOO3 downloading as an outrig"t e4pense= in t"e current accountna%e of Financial 'ssistance to 's= %a/ $e accepta$le. +"e downside t"oug" ist"at MOO3 co%es in different and several for%s= e.g. 3lectricit/ e4pense= Aatere4pense= +elep"one e4pense= Repairs and Maintenance e4pense= etc.= w"ic" are

$etter recogni:ed as individual e4pense ite%s. -u%ping t"e% toget"er in one su$sid/account will co%pro%ise t"e fairness and integrit/ of t"e financial infor%ation.#ownloading of MOO3 to SUs would rat"er $e treated as 'dvances for OperatingUnits w"ic" is su$ ect to li uidation.

.!an we delete erroneous letEs call t"e% as '-03 ?. Following t"e 5 seg%ent= (*

digit U'!S= H oneI in t"e for% of & :eroes >666666666? will $e used to code '-03accounts.

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5.A"at a$out MFO)8'8 code for non $udgetar/ ite%siven t"at MFO)8'8 !odes are for $udgetar/ ite%s onl/ and "ence used foreneral Fund transactions. 'll receipts and dis$urse%ents for Revolving Funds=

+rust Receipts suc" as 8rovident Funds= and ot"er Off Budgetar/ and !ustodialFunds are coded 666666666 or one MFO)8'8.

*.0s it necessar/ to co%plete t"e 5 seg%ent= (* digit U'!S for eac" transaction9es. +"e U'!S is a %ulti di%ensional coding structure. 3ac" digit in eac" seg%entcode captures all t"e re uired and)or relevant infor%ation for all 8FM users. 3ac"provides a level of detail for ever/ transaction= wit" "ierarc"ies for grouping andconsolidating infor%ation. 3ac" seg%ent can $e used for one purpose onl/= and eac"purpose captured full/ in t"at one seg%ent. +"e FO-MO >Fund Source=Organi:ation= -ocation= MFO)8'8= and O$ ect codes? t"erefore %ust alwa/s $eco%pletel/ indicated in recording eac" financial transaction. Furt"er%ore= co%pleteU'!S ena$les data for %ultiple uses= for w"atever reporting purpose= and inw"atever for%at or te%plate.

Efrs Manual Acctg Process

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