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Petty Cash, Part 3

PART III – Weird items sa petty cash and their appropriate treatments

Acceptance Check – pag nagpasweldo yung kumpanya, minsan cheke. Ngayon, yung mga trabahador, minsan tinatamad magpunta sa banko para i-cash yung cheke nila. So ang ginagawa, lumalapit kay petty cash custodian. So, si petty cash custodian naman, tinatanggap, ina-“accept” yung cheke nila at pinapalitan. Kaya acceptance Check. Tanda to ng mahinang internal control. Usually, ang acceptance check, due and demandable yan so pede narin sya iconsider as Cash in Petty cash (parehas ng treatment sa bills and coins) kasi kahit anong oras pede ipapalit sa bank. UNLESS sinabing post dated yung cheke or tumalbog yung Check.

Postdated Check – yun ung mga cheke na pinapapalitan sa petty cash (tigas ng ulo no, bawal nga to eh) na hindi pa due and demandable so, Receivable parin sya.

NSF Check – eto ang malupet, pinapalitan na yung cheke sa petty cash tapos bigalng tumalbog. Syempre, Receivable sya dun sa nagpapalit ng Cheke.

Postage Stamps – syempre Prepaid expense yan. Hindi yan considered as cash in petty cash na tulad ng bills and coins. Baket, pag bumili ka ba ng kendi kina aling nena, papayag sya na ibayad mo yung Stamp? Diba hindi? So, prepaid expenses siya.

Certified Check – certified naman yung cheke, kikilanin ng bank so due and demandable sya so, Cash in Petty Cash sya.

Birthday/ Wedding envelope – see explanation above:
Empty – ibawas sa bills and coins kasi malamang napahalo yun dun
May laman – ignore mo lang

Expense vouchers
– hindi naman weird to. Dapat talaga nag-iisue ng voucher yung petty cash custodian every disbursement para alam kung saan ginagastos.

IOU – simply stated “I Owe You” or “vale”. Narinig mo na ba yung “babale muna ako”, or “bumale ka muna”. Yun ung VALE (pronounced as va-le not veyl). Simply put, umutang ang Empleyado. So, Receivable sya.

Hindi all-inclusive to ah. baka may hindi pa ako namention. Kung meron pa, just post it here, papaliwanag ko kung ano yun.

eto ang inyong kuya CPA, joseph!

Post lang ng tanong!

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Categories: Petty Cash, Part 3
  1. she
    January 17, 2011 at 3:16 pm

    kuya, naguguluhan po ako sa treatment sa (practical auditing by Empleo)
    ” a check drawn by the company payable to the order of the petty cash custodian, representing her salary, for safekeeping only”
    i-ignore lng po yung turong treatment dyan, hindi sinama sa per count and accountability.

    anu po yung effect kung meron o wla nung “for safekeeping only”?
    tska anu po yung pinagkaiba nya sa replenishment check?

    • January 25, 2011 at 11:45 pm

      Kasi, naihalo yan sa petty cash fund.
      FACT: hindi sya petty cash kasi sueldo yan ng custodian na naihalo.

      Ang treatment, depende sa situation. In this case, kina-count mo palang so, hindi mo talaga isasama sa count yun kasi nga hindi sya part ng petty cash. HOWEVER pag sinabing naihalo sya sa total petty cash, dun mo idededuct ang treatment kasi hindi sya nabibilang sa petty cash mo. So, ianalyze mo rin mabuti ang situation bago ka mag-discern kung anong treatment kasi there’s no single treatment sa mga transactions sa accounting.

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