Unbooked Obligations Archives

[Forum] Rules on Prior Years’ Unbooked Obligations

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 na book up? Example: There were 2020 transactions that were completed and rendered last 2020 kaso wala na obligate at the close of the year 2020 so ngaung 2021 lang i book gamit ang continuing appropriations. Are we allowed to do that? Considering the fact that by doing so, expenses for the current year will be misrepresented since may mahahalong...

Accounting 101

What is the policy of COA on unbooked obligations/money claims?

Q: Good morning po. Meron bo bang separate rule for trust fund and internally-generated fund na yung 2019 expenses di na pwdeng i-claim sa 2020? Di kasi narecord as AP at sabi daw ay kailangan i-request sa COA. Meron po bang way na ma-claim or mapa-reimburse? Salamat po. Responses to this question: [If unclaimed personnel benefits] There is no need to request to COA. All you just need is to prepare a Report of the Unpaid Authorized Prior Year Personnel Benefits. Kindly refer to COA Circular 2018-001 dated February 1, 2008. Leo Adobas Alvarez Omamalin [Read: What should you do...