COMPANY.

FLOWCHART DESCRIPTION DISBURSEMENT

PREPARED BY: FLOWCHART NO. 2

DATE: PAGE 1 OF 1

OPER
A
NARRATIVE DESCRIPTION
TION
NO.

2
Voucher 1
The company’s is setting up the liability Payable
Incurred through a voucher payable, 1st copy
being the documents that will support the
Transaction. 2nd copy becomes the document
Filed in the supplier’s jacket.
1

Once the due date for the voucher arrives,

the
Document is sent to the clerk for 2 3
2
Check
preparation.
VoucherExceeds
1
10,000

No

Yes
The check voucher prepared in triplicate, 1st 3
being the transaction document, 2nd being
the posting file, and 3rd going to the Supplier
Jacket

Treasurer determine if Check exceed

P10,000
4 Voucher Voucher
-----
Payable Register

Check
Check ----- Register
 The check voucher set are presented to the
Check signatories for the signature and
approval.
5

The voucher payable is posted to the

Voucher register. The document being
Filed and readily for reference.
6

The check voucher is posted to the check

register. The document being filed and
readily for reference

REVENUE AND COLLECTION

COMPANY . FLOWCHART DESCRIPTION REVENUE
CYCLE

PREPARED BY; . FLOWCHART NO. 1

DATE: PAGE 1 OF 1

OPERA
NARRATIVE TION
DESCRIPTION
NO.

The cycle begins with

1
the contact from
1
would-be client

4
3
2
Invoices 1
through the sales
personnel Engr.
Felisardo Gomez and
upon confirmation
Thereof, a rental or
sales agreement is
drawn Up.

Invoices prepared in 2
quadruplicate for
billing of sales, 1st
copy Going to the
client, if paid in cash,
2nd if on account, 3rd
being the accounting
file for posting
purposes, and 4th being
left in the stub of the 3
invoices

The invoice is
prepared on the basis
of rental information
from the operator of
4
the equipment. The
rental information
kept by the operator
every time

An equipment is on
service. The collection
portion of the Revenue
5
cycle starts with a
statement of account
which Serve as a
reminder to the client
of the amount already
and due and
collectible
6
Once the client has
indicated that payment
is in process, the
follow-ups are made
and once the payment
is received,

Official Receipts
prepared in triplicate,
the Original is for
client
The duplicate is the
accounting file and the
stub copy (third)
Remains with the
booklet.

ADJUSTMENT AND CLOSING ENTRIES-

COMPANY . FLOWCHART DESCRIPTION NON-
CYCLE

PREPARED BY: FLOWCHART NO. 3

DATE: PAGE 1 OF 1

OPERA
NARRATIVE TION
DESCRIPTION
NO.

Supporting
Documents
1
 Adjusting
Entries

Closing
Entries

3
2
Journal 1
Voucher

Based on supporting
documents that are
involved with ----- General
ledger list
adjustments, 4
correction and closing
entries. Among them
are set up of
depreciation,
corrections of errors,
closing of the books
and auditor’s
adjustments. Prepares
the journal voucher in
two copies. Copy 1
goes to the transaction
file. Copy 2 becomes
the basis for posting to
the general ledger.
 5

General ledger list,

basis for monthly
financial reports.