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Sender: What’s the UACS code for Zoom Subscription?
More forums on this topic: https://gabotaf.com/tag/journal-entry/
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[Topic] Appropriate Account Title for Zoom Subscription
GABOTAF
Government Accountants, Budget Officers, Treasurers and Auditors’ Forum
Subscription Expenses – ICT Software Subscription – 50299070 01
“This account is debited to recognize the cost of subscriptions for ICT software, data center service, cloud computing service, library and other reading materials, and the like. This account is credited, at year end, to close to the Revenue and Expense Summary account, and/or adjustments.”
https://www.coa.gov.ph/phocadownload/userupload/Issuances/Circulars/Circ2020/COA_C2020-001_Annexes/Annex_A-Vol_III_RCA.pdf
For journal entry, its either an asset or an expense. We still need to consider the accrual method.
Depends which govt office u’re in. Mag iba gnagamit na UACS Code but definitely sa Subscription Exp yan.
50299070 01