Rizal Technological University – Boni

College of Business & Entrepreneurial Technology

Department of Accountancy

REVIEWER of

ACCOUNTING FOR GOVERNMENT AND NPO

CHAPTER 5 REVENUE AND OTHER RECEIPTS

Prepared By:

Magmanlac, Jayca

Manalili, Nikki

Reyes, JeweL ANNE

Cbet-01-601e

March 2021

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Definitions of revenue and receipts
Revenue – is the gross inflow of economic benefits or
service potential during the reporting period when those
inflows result in an increase in net assets/equity, other
than increases relating to contributions from owners.
Receipts – refer to all cash actually received from all
sources during a given period of time.
FUNDAMENTAL PRINCIPLES OF REVENUE
A. all revenues accruing to an entity by virtue of the
provision of existing law, orders and regulations
shall be deposited/ remitted in the National
Treasury (NT) or in any duly authorized
government depository
B. All moneys and property officially received must
be accounted.
C. Amounts received in trust and from the
business-type activities of government may be
separately recorded and disbursed in
accordance with such rules and regulations
D. Receipts shall be recorded as revenue of
Special, Fiduciary or Trust Funds or Funds other
than General Fund, only when authorized by law
E. Collecting Officer (CO) without immediately
issuing an official receipt (OR)
F. Where mechanical devices (e.g. electronic
official receipt) are used to acknowledge cash
receipts, the COA may approve
G. At no instance shall temporary receipts be
issued
H. Pre-numbered ORs shall be issued in strict
numerical sequence.
I. An officer charged with the collection of revenue
or the receiving of moneys payable to the
government shall accept payment for taxes,
dues or other indebtedness to the government in
the form of checks issued in payment of
government obligations.
J. The Treasurer of the Philippines and all AGDB (
authorized government depository bank) shall
acknowledge receipt of all funds received by
them.
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TYPES OF FUNDS
✓ General Fund – a fund which available for any
purpose other than funds that have been
designated to.
✓ Special Fund – a fund designated to special
purposes
✓ Trust Fund (Fiduciary Fund) – fund held by a
government agency or public officer acting as
trustee, agent or administrator for the fulfillment
of a condition
✓ Revenue Fund – comprise all funds derived
from the income of any agency of the
government and available for appropriation or
expenditure in accordance to the law
✓ Depository Fund – fund held in an authorized
depository bank over which the recipient agency
retains control for the lawful purposes for which
the fund was received.
✓ Special Account in the General fund –
established to facilitate the funding of the priority
activities of the government. The sourced from
specific fees, grants and donations, and other
sources identified under the law.
✓ Special Purpose Funds – funds that the
president allocates for special programs and
projects. Unlike for the other funds, SPF are not
under the accountability of any particular
government agency/ office or unit.
SOURCES OF REVENUE AND OTHER RECEIPTS
➢ Exchange transactions – are transactions in
which one entity receives assets or services, or
has liabilities extinguished, and directly gives
approximately equal value (primarily in the form
of cash, goods, services, or use of assets) to
another entity in exchange.
➢ Non-exchange transactions – are transactions
in which an entity either receives value from
another entity without directly giving
approximately equal value in exchange, or gives
value to another entity without directly receiving
approximately equal value in exchange.
EXCHANGE TRANSACTIONS / RECIPROCAL ✓ Cost can be measured reliably
(PPSAS-9)
➢ If cannot be measure reliably
DEFINITION: “one entity receives asset or services, or ̶ recognized only to the extent of the
has liabilities extinguished, and directly gives expenses recognized that are
approximately equal value (cash, goods, services, or recoverable
use of assets) to another entity in exchange.”

RECOGNITION:
B. Use by other entity of asset yielding interest,
➢ Recognized when billed or rendered royalties and dividends or similar distributions
➢ If not practicable, when collected.
Example Definition Recognition
a. Interest charges for the when earned;
A. Sale of Goods or Provisions of Services to third income use of cash or time proportion
parties or other NGAs cash basis
equivalents
a. Sale of Goods b. Royalties fees paid for when earned;
the use of substance of
➢ Recognize if ALL conditions are met: entity’s assets agreement
✓ Transferred risks and rewards of c. Dividends share of NG when declared;
ownership to purchaser from earnings/ right to received
✓ Retains neither continuing equity is established
managerial involvement nor effective investment in
control GOCCs
✓ Probable and measurable
✓ Cost can be measured reliably
MEASUREMENT:

Example: ➢ Fair Value (FV) of consideration received or

receivable
i. Service Income ✓ probable that future economic
- Permit fees, Registration fees, benefits will flow
Franchising fees, Licensing fees, ✓ measured reliably
Legal fees, Passport and Visa
Fees, Processing Fees ➢ Trade discounts and rebates allowed –
deducted.
ii. Business Income o Example:
- School fees, Examination fees, List price P100
Rest/lease income, less trade discount (10%) 90%
Communication network fee, Total P90
Income from hotels/dormitories,
Sales revenue, Hospital fees, ➢ Deferred – FV is determined by discounting
Share in the profit of joint venture all future receipts using an imputed rate of
interest.
b. Supply of Services o FV – consideration received =
interest revenue
➢ Generally, Straight line basis over the
specified contract term ➢ Advance
̶ unless an alternative method is ̶ Initial: Liability
better. ̶ Subsequent: Revenue, only if
criteria are met.
➢ If can be estimated reliably, ALL conditions
are met:
✓ Stage of completion can be
measured reliably
✓ Probable and measurable
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EXCHANGES OF GOODS AND SERVICES FOR
SIMILAR/DISSIMILAR GOODS OR SERVICES
A. Similar – no revenue
B. Dissimilar – with revenue
i. Fair value of asset received
ii. Fair value of asset given up
IMPAIRMENT LOSSES AND ALLOWANCE FOR
IMPAIRMENT LOSSES
o Impairment Losses – already recognized as
revenue that becomes uncollectable and must
recognized as expense rather than the
adjustment to revenue originally recognized.
o Allowance – provided for known and estimated
bad debts.
DISCLOSURE OF EXCHANGE TRANSACTION
1. Disclose accounting policies adopted
2. Amounts of each significant category of
revenue recognized (sales of goods and
rendering of service, interest, royalties,
dividends)
NON-EXCHANGE TRANSACTIONS
DEFINITION: “transactions in which an entity either
receives value from another entity without directly
giving approximately equal value in exchange or
gives value to another entity without directly receiving
approximately equal value in exchange.”
RECOGNITION:
➢ Cash basis
➢ Recognized when collected or when these are
measurable and legally collectible.
MEASUREMENT:
Measurement of Revenue from Non-Exchange
Transactions
➢ Measured at: Increase in net assets recognized
by the entity.
• Exception: Unless it is also required to
recognize a liability.
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Measurement of Assets on Initial Recognition from
Non-Exchange Transactions
➢ Initial Measurement: at its fair value as at the
date of acquisition
Measurement of Liabilities on Initial Recognition
➢ Where the time value of money is material, the
liability will be measured at the present value of
the amount expected to be required to settle the
obligation.
TAX REVENUE
Taxes - economic benefits or service potential
compulsory paid or payable to public sector agencies, in
accordance with laws and or regulations, established to
provide revenue to the government.
TYPE OF TAX TAXABLE EVENT
Income tax Earning of assessable income
during the taxation period by the
taxpayer
Value added Undertaking of taxable activity
tax during the taxation period by the
taxpayer
Goods and Purchase or sale of taxable goods
services tax and services during the taxation
period
Customs duty Movement of dutiable goods or
services across the customs
boundary
Death duty Death of a person owning taxable
property
Property tax Passing of the date on which the
tax is levied, or the period for which
the tax is levied, if the tax is levied
on a periodic basis.
Transfer of Internal Revenue Allotment
➢ When entire proceeds collected by National
Government Units
- National Government Units recognize assets
and revenue for the tax.
➢ Transfer to Local Government Units
- Decrease in assets and an expense
recognized by National Government Units.
 - Recognize the assets and revenue by Local TRANSFERS RECOGNITION MEASUREMENT
Government Units.
Debt Recognized as carrying amount
Transfer of Internal Revenue Allotment to LGUs. Forgiveness revenue when it of the debt
Account Title Account Code Debit Credit no longer meets forgiven.
the definition of
Financial Assistance to 50214030 xx liabilities.
LGUs
Exception:
Cash-Modified 10104040 contribution
xx
from owners
Disbursement
Fines Recognized as Best estimate of
System (MDS), a revenue when the inflow of
it meets the resources of the
Regular definition of an entity
asset and
Expenses Paid Through the Tax System and Tax
satisfies the
Expenditures
criteria for
➢ Expenses of the government paid through the recognition as
tax system or as reduction from tax revenue an asset
received should NOT be offset or deducted from
Where an entity
that tax revenue.
collects fines in
➢ Expenses paid through the tax system are those the capacity of
expenses which should be paid irrespective of an agent, the
whether the taxpayer pay taxes, or use a fine will not be
particular mechanism to pay taxes. recognized as
revenue of the
collecting entity.
Taxation Revenue Shall Not Be Grossed Up for the Bequests Recognized as At the fair value
Amount of Tax Expenditures a revenue when of the resources
➢ Tax expenditures are preferential provisions of it meets the received or
the tax law that provide certain taxpayers with criteria of receivable.
concessions that are not available to others. Tax assets and
expenditures are foregone revenue, not measured
expenses. reliably

Gifts, Gifts and At fair value as at

Donations Donations – the date of
Asset through Transfers and Goods in Recognized as acquisition
Kind assets and
Transfers – inflows of future economic benefits or
revenue when it
service potential from non-exchange transactions, other
is probable that
than taxes.
the future
Recognition: meet the definition of an asset and satisfy economic
the criteria for recognition as an asset benefits or
service
It includes:
potential will
o Grants flow to the
o Debt forgiveness entity and the
o Fines fair value of the
o Bequests assets can be
o Gifts, Donation and goods measured
o Service in-kind reliably.
Measurement: fair value as at the date of acquisition

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 Goods in-kind Book of the National Government – BTr

Without Account Title Debit Credit

condition: Subsidy from National Government xx
revenue is Cash in Bank – Local Currency, xx
recognized BSP
immediately. Record replenishment of MDS checks

With condition:
initially c. Receipts of Report for the Completion
recognized as
Book of the National Government – BTr
liability until
condition is Account Title Debit Credit
satisfied. Other Deferred Credits xx
Income from Grants and Donations xx
Service in- Not required to recognize services in Cash
kind in-kind as revenue and as an asset Recognize income from grants and donations
but is encouraged to disclose the representing payment for expenses
nature and type of services in-kind
received during the reporting period.
Pledges Not recognize as assets or revenue. Book of NGA
It is recognized as a gift or donation
if the pledged item is subsequently Account Title Debit Credit
transferred to the recipient entity. Completed Project xx
Construction in Progress xx
Recognize turnover of completed project
Grant with Condition - An asset received under a grant
with condition is initially recognized as liability and
recognized as revenue only when the condition is Advances Receipts of Revenue
satisfied.
Recognized as:
Journal Entries in Grant with Conditions
➢ Assets
a. Receipt of Grant
➢ Liabilities – until the event that makes the
Book of the National Government – BTr transfer arrangement binding occurs, and all
other conditions under the agreement are
Account Title Debit Credit fulfilled.
Cash in Bank-Local Currency, BSP xx
Other deferred credits xx ➢ Revenue – when that event occurs and all other
Receipt of grant directly credited to the account of the conditions under the agreement are fulfilled.
NG maintained by BSP.

Book of NGA Concessionary loans – are loans received by an entity

Account Title
Cash – MDS, Special Account
Subsidy from National
Government
Receipt of the NCA by NGA
at below market terms.
Debit Credit
xx - Difference between the transaction price
xx (loan proceeds) and the fair value of the loan
on initial recognition
➢ nonexchange revenue

➢ an entity recognizes the difference as

b. Purchases
revenue, except if a present obligation
Book of NGA exists.

Account Title Debit Credit

Construction in Progress xx
Cash – MDS, Special Account xx
Payment for the purchases
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DISHONORED CHECKS ACCOUNTING FOR CASH OVERAGE/SHORTAGE OF
COLLECTING OFFICER
Dishonor by non-payment occurs when:
Cash Overage
(a) The check is duly presented for payment and
payment is refused or cannot be obtained; or ̶ Collecting Officer’s discovery of unsatisfactory
(b) Presentment is excused and the check is explained cash overage is:
overdue and unpaid.
➢ Forfeited in favor of the government
Dishonor by non-acceptance happens when:

(a) The check is duly presented for acceptance, and ➢ Official Receipts (OR) should be
such an acceptance as is prescribed by law is issued by him
refused or cannot be obtained; or
(b) Presentment for acceptance is excused and the ➢ Taken up as Miscellaneous Income
check is not accepted. Cash Overage Forfeited
“Draw Against Insufficient Fund (DAIF)” or “Drawn Date Account Title Debit Credit
Against Uncleared Deposits (DAUD)” Cash – Collecting Officers xx
Miscellaneous Income xx
Non-acceptance due to insufficient funds – drawer
shall be criminally liable.
Remittance of Cash Overage forfeited to BTr
Illustrative Accounting Entries for Dishonored Date Account Title Debit Credit
Checks Cash – Treasury/Agency xx
Deposit, Regular
Cancellation of OR due to Dishonored Checks Cash – Collecting xx
Officers
Account title Account Debit Credit
Code
Other Receivables 10305990 xxxx
Cash- 10104010 xxxx
Treasury/Agency Cash Shortage
Deposit, Regular
̶ Not restituted: taken up as receivable

Redemption of Dishonored Check Recognize cash shortage

Date Account Title Debit Credit
Account title Account Debit Credit Due from Officers and xx
Code Employee
Cash-Collecting 10101010 xxxx Cash – Collecting xx
Officers Officers
Other Receivables 10305990 xxxx
o Collections deposited to AGDB
Restitution of Cash Shortage
Cancellation of OR due to Dishonored Checks Date Account Title Debit Credit
Cash – Collecting Officers xx
Account title Account Debit Credit Due from Officers and xx
Code Employee
Other Receivables 10305990 xxxx
Cash in Bank- 10102020 xxxx
Currency, Current Remittance of Restituted Cash Shortage to the BTr
Account Date Account Title Debit Credit
Cash – Treasury/Agency xx
Deposit, Regular
Cash – Collecting xx
Officers

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DISCLOSURES ON THE FACE OF, OR IN THE Cash – MDS, Special Account P100
NOTES TO, THE GPFS:
Cash-Treasury/Agency P100
1. amount of revenue
Deposit, Special Account
2. amount of receivables

3. amount of liabilities recognized in respect of

transferred assets Receipt of NCA for Trust Receipts Fund
4. Amount of liabilities recognized in respect of
Date Account Title Debit Credit
concessionary loans that are
5. subject to conditions Cash – MDS, Trust P100
6. Amount of assets recognized that are subject to
restrictions and the nature Cash-Treasury/Agency P100
7. Existence and amounts of any advance receipts Deposit, Trust
in respect of non-exchange transactions;
8. Liabilities forgiven.

B. Non- Cash Availment Authority

DISCLOSURES ON THE NOTES TO THE GAD FOCAL
POINT SYSTEM To Recognize the receipt of NCAA

1. Accounting policies Date Account Title Debit Credit

2. Basis on which the fair value of inflowing
Cash – MDS, Trust P100
resources was measured;
3. Taxation revenue that the entity cannot measure Cash-Treasury/Agency P100
reliably during the period in which the taxable
event occurs, information about the nature of the Deposit, Trust
tax; and
4. Nature and type of major classes of bequests,
gifts, and donations, showing separately major C. Cash Disbursement Ceiling
classes of goods in-kind received.
1. DFA and DOLE’s books

DISCLOSURES ON THE NATURE AND TYPE OF Collection of revenues of FSPs

MAJOR CLASSES OF SERVICES IN-KIND RECEIVED Date Account Title Debit Credit
1. Contribution made by such services
Cash-Collecting Officers P100
2. Entity’s dependence on such services for the
achievement of its objectives in the future. Passport and Visa Fees P100

OTHER RECEIPTS

A. Receipts of Notice Cash Allocation Deposit of collections to authorized servicing bank of the
FSPs
Receipt of Notice Cash Allocation for Regular Agency
Fund Date Account Title Debit Credit

Date Account Title Debit Credit Cash in Bank – Foreign P100

Cash – MDS, Regular P100 Currency, Current Account
P100
Subsidy from National P100
Government Cash-Collecting Officers

Receipt of NCA for Special Account in the General Fund

Date Account Title Debit Credit

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Receipt of Cash Disbursement Ceiling from DBM 1. Tax Withheld by NGAs

Date Account Title Debit Credit

Cash-Constructive Income P80 NGAs’ (withholding agency) Books

Remittance
P80 Constructive receipt of NCA for TRA
Subsidy from National
Date Account Title Debit Credit
Government Cash – Tax Remittance P100
Advice P100
Subsidy from National
Government
Payment of expenses charged to CDC

Date Account Title Debit Credit Constructive Remittance to BIR of taxes withheld
Quarters Allowance – Civilian P50 through TRA

Rent-Buildings and Structures 30 Date Account Title Debit Credit

Due to BIR P100
Cash in Bank-Foreign P80 Cash-Tax Remittance P100
Advice
Currency, Current
Account
BIR Books

Constructive receipt of taxes remitted by NGAs through

2. BTr Books TRA
Date Account Title Debit Credit Date Account Title Debit Credit
Cash-Tax Remittance Advice P100
Subsidy to NGAs P80 Income Tax P100
Cash-Constructive
BTr Books
Income Remittance P80
Constructive receipt of remittance of taxes by NGAs
through TRA

Date Account Title Debit Credit

D. Tax Remittance Advice
Subsidy to NGAs P100
Tax Remittance Advice refers to a specially-numbered Cash-Tax Remittance P100
document prescribed by DBM that should be used by the Advice
NGAs in the remittance of withheld taxes on funds
coming from DBM. 2. BOC Customs Duties charged to TEF
This shall be used to recognize: NGAs (withholding agency) Books
1. NGA books – the constructive remittance to BIR and Purchase of patrol boat by Philippine Navy
BOC of taxes and customs’ duties withheld, and the
constructive receipt of NCA for those taxes and customs Date Account Title Debit Credit
duties. Military, Police and Security P1,000
Equipment
2. BIR and BOC books – the constructive receipt of tax Cash- MDS Regular P990
revenue and custom duties Due to NGAs 10
3. BTr books – the constructive receipt of the taxes and
customs duties remitted.

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Constructive receipt of NCA for customs duties charged E. Receipt of Subsidy/Assistance from other NGAs,
against TEF LGUs, GOCCs and Other Funds

Date Account Title Debit Credit Receipt of Subsidy/Assistance from Other Government
Agencies
Cash-Tax Remittance Advice P10 Date Account Title Debit Credit
Subsidy from National P10 Cash – Collecting Officers P100
Subsidy from Other NGA P50
Government Assistance from LGUs 25
Assistance from GOCCs 25

Remittance of Collections to BTr

Constructive remittance to BOC of custom duties Date Account Title Debit Credit
through TRA Cash – Treasury/Agency P100
Deposit, Trust
Date Account Title Debit Credit Cash – Collecting P100
Officers
Due to NGAs P10

Cash-Tax Remittance P10

F. Refund of excess cash advances granted to
Advice officers and employees

➢ Cash advances
o Advances to Officers and Employees –
BOC books official travel
o Advances for Operating Expenses –
Constructive receipt of import duties remitted by NGAs
regular disbursement officer and foreign
through TRA
post
Date Account Title Debit Credit o Advances for Payroll – salaries and
wages
Cash-Tax Remittance Advice P10 o Advances to Special Disbursing Officer
Import Duties (SDO) – special purpose/ time bound
P10
undertaking

Collection of Refund of Excess Cash Advances

Date Account Title Debit Credit
BTr Books Cash – Collecting Officers P10
Advances to Officers and P10
Constructive Receipt of the remittance of import duties Employees
by NGAs through TRA

Date Account Title Debit Credit Remittance of Collections to BTr

Subsidy to NGAs P10 Date Account Title Debit Credit
Cash-Tax Remittance Cash – Treasury/Agency P10
P10 Deposit, Trust P10
Advice Cash – Collecting
Officers

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G. Performance bond/security deposits 1. NGAs (other than University of the Philippines-Legal
Research Fund (UP-LRF) Books
➢ posted by contractor or supplier to guaranty full
and faithful performance of their contract. Collection of fees accruing to the UP-LRF

Collection of Performance Bond/Security Deposits Date Account Title Debit Credit

Date Account Title Debit Credit Cash-Collecting Officers P5
Cash – Collecting Officers P10 Due to NGAs P5
Guaranty/Security P10
Deposits Payable

Remittance of collections to BTr for the account of UP-

Remittance of Collections to BTr LRF
Date Account Title Debit Credit
Cash – Treasury/Agency P10 Date Account Title Debit Credit
Deposit, Trust P10 Due to NGAs P5
Cash – Collecting Cash-Collecting Officers P5
Officers

H. Refund of overpayment of expenses. 2. BTr Books

➢ Receipts of refunds from officers, employees Receipt of remitted collections for UP-LRF
and suppliers/creditors resulting from Date Account Title Debit Credit
overpayment of expenses. Cash in Bank-Local P5
Collection of refund of overpayment of expenses Currency,Savings Account
Cash-Treasury/Agency P5
Date Account Title Debit Credit Deposit,Trust
Cash-Collecting Officers P10
Specific Expense P10
3. UP-LRF Books
account
Remitted collections for UP-LRF by other NGAs
Remittance of collections of refund of overpayment of Date Account Title Debit Credit
expenses to BTr Cash-Treasury/Agency P5
Deposit,Trust
Date Account Title Debit Credit
Trust Liabilities P5
Cash- P10
Treasury/AgencyDeposit,
Regular
or J. Intra-agency and inter-agency fund transfers.
Cash-Treasury/Agency
Deposit, Special Account ➢ Cash received from central office/regional
or office/operating units of an entity and from
Cash-Treasury/Agency another entity for the purpose of implementing
Deposit,Trust specific projects.
Cash-Collecting Officers P10

1. Intra-entity Fund Transfer

I. Collections made on behalf of another entity or
non-government/private organizations. Receipt of intra-entity fund transfer

➢ Receipts of income, receivables or trust funds Date Account Title Debit Credit
for the account of other NGAs, LGUs, GOCCs Cash-Collecting Officers P5
or non-government/private organizations. These Due to Central Office
collections are later remitted to the government or P5
agencies or non-government/private Due to Bureaus
organizations concerned. or
Due to Regional Offices
or
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 Due to Operating Units
or
Due to Other Funds
Cash-Collecting Officers P5
Due to Central Office
or
Due to Bureaus
or
Due to Regional Offices
or
Due to Operating Units
or
Due to Other Funds
Remittance of collections to BTr
REPORTING FOR COLLECTIONS AND DEPOSITS
A. At the close of the business day, the Collecting
Officers shall prepare the Report of Collections
and Deposits (RCD)
B. The RCD shall be supported by documentary
evidence such as duplicate copies of ORs and
P5 validated deposit slips.
C. The Collecting government entity issuing
electronic Official Receipt (eOR) should
generate and submit daily to the Auditor a copy
of the RCD.
D. Field Offices (FOs)/Operating Units (OUs)
without complete set of books shall record their
collections of income chronologically in the Cash
Receipts Register (CRReg)

Date Account Title Debit Credit

Cash-Treasury/Agency P5 SUBMISSIONS OF THE QUARTERLY REPORT OF
Deposit,Trust P5 REVENUE AND OTHER RECEIPTS
Cash-Collecting Officers
Quarterly Report of Revenue and Other Receipts
(QRROR)
2. Inter-agency Fund Transfer
➢ Prepared by Chief Accountant
Receipt of inter-entity fund transfer
➢ Submitted to:
Date Account Title Debit Credit
▪ Government Accounting Sector
Cash-Collecting Officers P5
Due to NGAs P5 ▪ Commission on Audit
or
Due to LGUs ▪ Department of Budget and
or Management
Due to GOCCs
▪ Bureau of Treasury

Remittance of collections to BTr ➢ Within 30 days

Date Account Title Debit Credit ➢ A separate report shall be prepared and
Cash-Treasury/Agency P5 submitted for income of the General
Deposit,Trust P5 Fund and for income and receipts for
Cash-Collecting Officers Special Account and Trust Fund

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 COLLECTIONS AND DEPOSIT THROUGH THE COLLECTING OFFICER
CASH/ TREASURY UNIT HEAD OF CASH/ DESIGNATED STAFF ACCOUNTING DIVISION/ UNIT BOOKKEEPER HEAD/CHIEF
COLLECTING OFFICER TREASURY UNIT ACCOUNTING STAFF ACCOUNTANT

Cash/ Check
Reviews and signs Prepares Reviews
(Order of Payment/ OP)
and signs and signs

Prepares Official Receipts (OR) 1 – JEV JEV

Original - RCD Original - RCD Original - RCD
2 – JEV
2 – Official receipt 2 – Official receipt 2 – Official receipt

Validated Deposit Slip Validated Deposit Slip Validated Deposit Slip

Original - Payor
2 – RCD/ CRReg

3 -Cash/ Treasury Unit

LOGBOOK Cash
LOGBOOK
Receipts
Journal

Record collection to
CRRec

Prepares Deposit Slips (DS)

Original – AGDB /w LDC

2 – RCD/ CRRec Order of Payment (OP)
3 -Cash/ Treasury Unit Official Receipts (OR)
Report of Collection and Deposits (RCD)
Cash Receipts Register (CRReg)
Cash Receipts Record (CRRec)
Prepares RCD
Deposit Slips (DS)
Authorized Government Depository Bank (AGDB)
Journal Entry Voucher (JEV)
Original - RCD
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2
3

4
PROCEDURES FOR COLLECTIONS THROUGH AUTHORIZED AGENT BANK AND AUTHORIZED GOVERNMENT DEPOSITORY BANK

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 REFERENCES

Cardona, M. M. & Punzalan, A. R. (2018) Government Accounting For Accounting Students and CPA Examinees. GIC

ENTERPRISES & CO.. INC.

Commission on Audit (2016). Government Accounting Manual for National Government Agencies Volume 1:

Accounting Policies, Guidelines and Procedure, and Illustrative Accounting Entries. https://www.coa.gov

.ph/index.php/2013-06-19-13-06-41/manual/catergory/5623-government-accounting-manual-gam-for-national-

government-a

Millan, Z. (2018). Government Accounting and Accounting for Non-Profit Organizations. Bandoline Enterprise.

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