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ACCOUNTING FOR SUPPLIES and PPE under the NGAS

ACCOUNTING FOR SUPPLIES and PPE under the NGAS. PROCEDURAL FLOWS. Receipt of Deliveries of Inventory Items. Delivery Receipt. Inspection and Acceptance Report. Stock Card. DV. General Ledger. JEV. Supplies Ledger Card. ChkDJ. JEV. Report of Checks Issued. Stocks

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ACCOUNTING FOR SUPPLIES and PPE under the NGAS

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  1. ACCOUNTING FOR SUPPLIES and PPE under theNGAS

  2. PROCEDURAL FLOWS

  3. Receipt of Deliveries of Inventory Items Delivery Receipt Inspection and Acceptance Report Stock Card DV General Ledger JEV Supplies Ledger Card ChkDJ JEV Report of Checks Issued

  4. Stocks Available? Requisition and Issuance of Supplies and Materials RIS RSMI SLC JEV SC Yes No GENERAL JOURNAL PR GL

  5. Receipt of Deliveries of PPE Delivery Receipt Inspection and Acceptance Report PPE Card DV General Ledger JEV PPE Ledger Card ChkDJ JEV Report of Checks Issued

  6. Issuance of the PPE Property Acknow- legement Receipt Requisition Issue Slip Property Card (Property Div.) Property Ledger Card (Accounting Div.)

  7. Preparation of Purchase Request Request for the purchase of supplies, materials and property needed for the quarter based on the approved annual procurement program is prepared. Procedures in Procurement

  8. Preparation of PR (cont.) The PR shall be prepared in 2 copies: Original - Supply and Property Unit for appropriate action Duplicate Copy – Requisitioning Unit Note: This form is also prepared when the goods/supplies/properties are not carried in stock.

  9. Preparation of PR (cont.) Preparation of the Obligation Request (ObR), for the goods requisitioned covered by an approved PR. The ObR prepared to obligate funds purposely for the purchase request. This must be certified by the Budget Officer as to the availability of allotment and the Chief Accountant or Head of the Accounting Unit as to the correctness and validity of obligation.

  10. Procedures in Procurement Preparation and Approval of Purchase Order/Letter or Contract The Purchase Order (PO)/ contract is the document evidencing a transaction for the purchase of supplies and other inventories. It is usually prepared by the Supply Officer or his equivalent.

  11. Procedures in Procurement Receipt of the Delivery of the Goods/Property/ Supplies and Materials procured Receipt of the goods prior to inspection shall be understood that these are received as to the quantity only subject to final inspection and acceptance of the items.

  12. Acceptance of deliveries maybe made only if the goods / property / supplies and materials delivered conform with the standards and specifications stated in the contract. Procedures in Procurement Inspection and Acceptance of the Deliveries

  13. The report shall be signed by the authorized Inspection Officer who conducted the inspection and verification of the items to certify that the delivery conform with the specifications indicated in the PR. The date of inspection shall be indicated in the report. Preparation of Inspection & Acceptance Report (IAR)

  14. The Inspection and Acceptance Report shall be prepared in three copies distributed as follows: Preparation of IAR (cont.) Original - Supplier (to be attached to the claim voucher) Duplicate - Inspection Committee Triplicate - Supply Unit

  15. After the inspection and acceptance of delivery, the DV shall be prepared. Procedures in Procurement Preparation of Disbursement Voucher

  16. Requisition, Issuance and Reporting of Supplies and Other Inventories Issued

  17. Preparation of Requisitionand Issue Slip (RIS) Requisition and Issue Slip (RIS) shall be prepared if goods/supplies are available in stock. This form shall be prepared in three copies distributed as follows: Original – Accounting Unit (to be attached to the RSMI) Duplicate - Requisitioning Unit Triplicate - Supply and Property Unit

  18. If stocks are not available, the Purchase Request shall be prepared.

  19. Preparation of Report of Supplies and Materials Issued (RSMI) Issuance This report shall be prepared by the Supply and Property Unit (SPU) showing all supplies issued for the day Upon receipt of this report, the designated accounting personnel shall fill up the following columns:

  20. Report of Supplies and Materials Issued (RSMI) 1. Unit Cost - moving average cost of supplies and materials issued by the agency Amount - amount (Qty. Issued x Unit Cost) of supplies and materials issued within the day 3. Posted by/date - name and signature of the accounting personnel who posted to SLC based on recapitulation

  21. Moving Average Method The moving average method of costing shall be used for costing inventories. The Accounting Unit shall be responsible in computing the cost of inventory on a regular basis.

  22. Illustrative Calculation

  23. Report of Supplies and Materials Issued (RSMI) (cont.) The RSMI shall be prepared in two copies to be distributed as follows: Original - Accounting Unit for the preparation of JEV Duplicate - SPU File At the end of the month, all issuances in the RSMI shall be consolidated for the preparation of the JEV.

  24. PreparationReport of Physical Count of Inventories (RPCI) This form shall be used to report on the physical count of inventory items by type such as Office Supplies, Accountable Forms, Medical, Dental and Laboratory Supplies, Food/Non-food Inventory, Military and Police Supplies Inventory, etc. which are owned by the agency.

  25. PreparationReport of Physical Count of Inventories (Cont.) This shall be prepared every six months in three (3) copies and shall be certified correct by the Inventory Committee and approved by the Head of the Agency or Authorized Representative. This shall be distributed as follows: Original – Accounting Unit Duplicate Copy – Supply and Property Unit Triplicate Copy – Inventory Committee

  26. PreparationReport of Physical Count of Inventories (Cont.) It shall be submitted to the Auditor concerned not later than July 31 and January 31 of each year for the first and second semesters, respectively.

  27. Records to be kept by the Accounting Unit - Supplies Ledger Card - for each inventory item/stock Records to be kept by the Supply Unit – Stock Card - to be maintained for each type of supplies to record all receipts and issuances

  28. With the implementation of the NGAS, the ten thousand pesos benchmark for acquisition of inventories/non consumable items is revoked. On Inventories

  29. On Inventories Inventories which are non-consumables such as: staplers, staple removers, punchers, scissors, rulers, and other small items shall be recorded under appropriate supplies inventory/expense, as the case may be.

  30. Suspension of the Use of Supplies Availability Inquiry (SAI) under the Manual version of NGAS, and the Provision of Additional Guidelines per COA GAFMIS Circular Letter No. 2003-006 dated November 24, 2003. On Inventory Form

  31. Non-Consumable Items of Inventories All non-consumable items shall be covered by an Inventory Custodian Slip to be issued by the Supply Officer and acknowledged by the end-user.

  32. Inventory Custodian Slip

  33. No replacement shall be made for damaged or unserviceable items unless the item is returned and accepted by the Supply Officer or authorized unit in the agency. On Non- Consumable Items of Inventories

  34. Accounting Entries Obligation, Receipt, Issuance and Loss of Inventories

  35. Account Title Account Code Debit Credit Journal Entries • Receipt of Allotment for the purchase of the • Office Supplies P 300T and Military Supplies P500T Entry in the RAOMO based on the Obligation Request

  36. Account Title Account Code Debit Credit Subsidy Income from National Government 651 500T Journal Entries 2. Receipt of Notice of Cash Allocation (NCA)/ Notice of Transfer of Allocation (NTA) Cash-National Treasury, MDS 108 500T

  37. Account Title Account Code Debit Credit Entry in the RAOMO Journal Entries 3. Obligation upon approval of the Purchase Order

  38. Account Title Account Code Debit Credit Accounts Payable 401 500T Journal Entries 4. Receipt of delivered inventories Office Supplies Inventory Military and Police Supplies Inventory 155 164 300T 200T

  39. Account Title Account Code Debit Credit Cash-National Treasury, MDS Due to NGAs 106 412 470T 30T Journal Entries 5. Payment for the delivered inventories Accounts Payable 401 500T

  40. Account Title Account Code Debit Credit No Journal Entry Journal Entries 6. Issuance of Inventories

  41. Account Title Account Code Debit Credit Office Supplies Inventory Military and Police Supplies Inventory 151 153 100T 200T Journal Entries 7. Receipt of the Report of Supplies and Materials Issued Office Supplies Expenses Military and Police Supplies Expenses 751 753 100T 200

  42. Journal Entries Account Title Account Code Debit Credit Other Deferred Credits 455 40T 8. Set up of liability of supply Officer for lost inventory in his responsibility/accountability 123 Due from Officers and Employees 40T

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