June 18, 2015
Memorandum Circular 2015 - 008
CONFIDENTIALITY NOTICE/disclaimer: The information contained herein is strictly confidential in nature and is the property of Holy Gardens Group and intended only for the intended recipient and its reuse,reprinting or taking action other than the intended party is strictly prohibited. Holy Gardens assume no responsibility liability arising from such unauthorized use.
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Subject : Remittance REPORT FOR Treasury
Goal:
1. To gain proper control over remittance and outright commission
2. To remove confusion and ensure 100% compliance
3. To clarify treasury functions which is distinct and separate from recording of collections and customer data. (ABSTRACT) This is a way for AP to check the commissions and expenses paid, and the basis for the CDB
Back ground:
1. We have implemented Hataw 1 and soon Hataw 2. However, as it is there seems to be some confusion and some difficulty in administering the remittance.
2. Hataw 1 which is for plots involve remittance of funds to JV accounts, Hataw 2 (or Imp) involves remittance of funds to MLII. The document for this is Addendum.
What:
1. The treasury remittance report is separate and distinct from customer data base and collection report; the remittance report is about the control of funds in actuality.
2. The remittance report consist of:
1. Remittance report
2. Outright commission voucher
3. Deposit slip
4. PR ( Provisional Receipt)
3. The remittance report's field are as follows:
1 Date:
2. Control #
3. Name
4. PR #
5. Total Cash Received
less:
6. Com (commission) (this must conform to our guidelines price list, ie that it is net of interest, CAPF, PC VAT)
7. TA (transportation allowance) P25.00 for amounts collected less than P1,000 and P50.00 for amounts more than P1,000
Total TA Com
8. Net Cash Receipt
9. Net Cash Received (NCR)
10 . Deposit slip
4. The OCV must contain the data of the deposit slip
OCV shall be in 3 copies:
sbu
Treasury Assistant
AP
5. In practice, the outright commission shall be given after the deposit slip for NCR is accomplished. No deposit slip, no outright commission. All remittance report must strictly bear bec accompanied by DEPOSIT SLIPS DULY VALIDATED
6. It is the duty of the TA to check the 4 and 5.; in due time, if the volume of TF Hataw 2 exceeds 200, MLII must hire its own TA.
7. The remittance report hard copy must be filed by SBU and AP (for Hataw 1) and Treasury, for Hataw 2 by MLII, SBU.
8. As with regards to PR, subsequent collection shall be received through PR. OR shall be issued by 3ffb TA vs PR upon checking deposit slips. No deposit slips, no OR
Hataw 2 cash receipts shall be through PR of SBUs, OR shall be issued by MLII TA
9. If the volume of Hataw 2 exceeds 200, MLII shall hire its own ICR assistant for Holy Gardens + or + Holy Gardens Services
Action: 1. Printing of addendum
2. Printing of OCV
3. Formatting of remittance report and rizo (eventually we will print 3 copies.
STRICT COMPLIANCE.
FOR COMPLIANCE
copies for:
SBU
BPI treasury
Majorem treasury
Jorge
The Holy Gardens Group - "THE MEMORIAL EXPERTS"
Please view the following sites of Holy Gardens group and share
CONFIDENTIALITY NOTICE/disclaimer: The information contained herein is strictly confidential in nature and is the property of Holy Gardens Group and intended only for the intended recipient and its reuse,reprinting or taking action other than the intended party is strictly prohibited. Holy Gardens assume no responsibility liability arising from such unauthorized use.
Google.com+/HolyGardensGroup
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