Accounting 101

If supplier cannot issue Official Receipt, is an Acknowledgement Receipt acceptable?

Q: Hello! Tanong ko lng po, kung nagpaencode at photocopies amounting to P3,000.00 ang Brgy, at walang official receipt, pwede Acknowledgement Receipt nalang? Answers | Comments [custom-facebook-feed type=link pagetype=page featuredpost=1148645448612090_1764583760351586 carousel=false]

If supplier cannot issue Official Receipt, is an Acknowledgement Receipt acceptable? Read More »

What’s the prevailing rate for the maximum amount of petty cash per transaction?

Q: Good pm. I just want to clarify if Cash Advance for Petty Operating Expenses referring to COA Circular 97-02 is the same with the Petty Cash Fund? Which will prevail regarding the maximum amount disbursement per Petty Cash Voucher?Per NGAS for LGU – P1,000Per COA Circular 97-02 – P10,000Pero COA Circular 2012-01 – P15,000.

What’s the prevailing rate for the maximum amount of petty cash per transaction? Read More »

Pwede bang ilagay sa DV ang name ng sole proprietor instead of the business name?

Q: Good day po. Opinion lng po from other gabotaffs. For payments to sole proprietorship, may prohibition po ba to put the name of the sole proprietor/owner in the DV & check as payee instead of the business name? If yes, kindly specify the circular. Salamat po sa sasagot. View the comments on this question

Pwede bang ilagay sa DV ang name ng sole proprietor instead of the business name? Read More »

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