[Topic] Appropriate Account Title for Zoom Subscription

[Topic] Appropriate Account Title for Zoom Subscription

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Sender: What’s the UACS code for Zoom Subscription?

#JournalEntry | #gabotaf

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4 Comments on “[Topic] Appropriate Account Title for Zoom Subscription”

  1. 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

  2. For journal entry, its either an asset or an expense. We still need to consider the accrual method.

  3. Depends which govt office u’re in. Mag iba gnagamit na UACS Code but definitely sa Subscription Exp yan.