Government Accountants, Budget Officers, Treasurers and Auditors’ Forum
A GABOTAF member asked:Hello! May query lang ako. Once na naprepare na ang Obligation Request and Status at naapprove na ito, pwede na ba i-recognize ng accounting ang accounts payable neto lalo na sa mga malakihang contracts dahil naobligate mo …
Forum — When is it appropriate to recognize Accounts Payable? Read more »
![[Forum] Rules on Prior Years’ Unbooked Obligations](https://i0.wp.com/gabotaf.com/wp-content/uploads/2021/10/4f3cd45d-634c-4bd7-905f-e77728f4c6d4.png?fit=1080%2C1080&ssl=1)
Sender: Hi po! Would just like to clarify about continuing appropriations. Are we allowed to use continuing appropriations to pay prior years expenses that were not obligated last year although the entire transaction transpired last year at wala lang talaga …
[Forum] Rules on Prior Years’ Unbooked Obligations Read more »
On March 8, 2021, the Commission on Audit (COA) and the Department of Budget and Management (DBM) issued a Joint Circular (JC) prescribing the updated policies of the government with regards to accounts payables (A/Ps) that remain outstanding for two …
Accounts payable (A/P) pertains to obligations/ commitments of national government agencies, whether current year and prior years, for which services have been rendered, goods have been delivered or projects have been completed and accepted. Prior Year’s Accounts Payable (PY A/P) …