Microenterprise Access to Banking Services Program

Microenterprise Access to Banking Services Program

Accounting EntriesAccreditation and Implementation Training

Mobile Phone Banking

Accounting Entry Funding of GCash Wallets

Head Office Branch Level

Account Description Dr Cr Account Description Dr Cr

1) Pre-funding GCash Sweep Wallet

A/R GCash Sweep Wallet 50,000.00

Due from Local Bank 50,000.00

2) Pre-funding GCash Mother Wallet

A/R GCash Mother Wallet 50,000.00


3) Funding of GCash Branch Wallet

Due From Head Office 10,000.00 A/R-GCash Branch Cash Loading Wallet 10,000.00

A/R - GCash Mother Wallet 10,000.00 Due From HO/Branches 10,000.00

Accounting Entry Day-to-day Transactions – Branch Level



4) Cash Loading (Cash In) (Transactions for the Day)

Cash On Hand 7,000.00

A/R GCash Branch Cash Loading Wallet 7,000.00

5) Encashment (Cash Out) (Transactions for the Day)

A/R GCash Branch Encashment Wallet 4,000.00

Cash on Hand 4,000.00

** Take note that entries to recognize income for Cash In / Cash Out fees is not yet reflected here. You need to prepare a separate entry.

Accounting Entry Consolidation and Settlement



6) Transfer from Branch to Head Office for Consolidation/Settlement

A/R - GCash Mother Wallet 7,000.00 Due From HO/Branches 7,000.00

Due From Head Office 7,000.00AR-GCash Branch (Cash Loading / Encashment) Wallet

7,000.00

7) Consolidation and Settlement





** Take note that instead of transferring back the total remaining balance of GCash (P 47,000) only P 27,000 was transferred back to settlement account. P20,000 GCash will be used for GCash CICO transactions the following banking day.

Summary: Ending Balance

** Ending Balance after Consolidation Dr Cr

Cash on Hand 3,000.00



End of Presentation

Microenterprise Access to Banking Services Program

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