February 17, 2021

Fwd: Tentative procedure (internal) for cash less transaction (Bank transaction)

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---------- Forwarded message ---------
From: Jorge Saguinsin <jorge.holygardens@gmail.com>
Date: Wed, Feb 17, 2021 at 3:27 PM
Subject: Tentative procedure (internal) for cash less transaction (Bank transaction)
To: Madel Saguinsin <madz2424@yahoo.com>, Holy Angels Morong <hamp.morong@gmail.com>, bpi.acctngac@gmail.com <bpi.acctngac@gmail.com>, Frenzie Agasan <holygardensgreenhills@gmail.com>


TO        :    Ms. Mildred Macaraig
                  Frenzie Agasan
                  Ms Joy Casi

Thur Mam Madel

SUBJECT   TENTATIVE PROCEDURE AND STANDARDS FOR INTERNAL PROCESS IN CASHLESS TRANSACTION

     1.  Objectives:

              1.  To clarify responsibilities and process (contributing to efficiency)   regarding cash less transaction
              2.  To lessen customer inconvenience

    2.  Background:

            1.  We shifted to bank transaction  in view of thefts at certain sbu using spurious receipt and AR
            2.  We have not enrolled in biller account;   in a biller account, the reports would be submitted by the bank daily thus  we can save on efforts and
                  convenience of the customer
            3.  There are cases when sbu do not report any collection

            4.  Old process (cash)
                                                                                            Who                                 
               1,      Customer pays                                           CSS2

               2.     Company issues OR                                    Who

               3.     Abstract is prepared  sent to 3f                     SFC

               4.    Entries to ledgers are made                          SFC

               5.    ICR are totaled and balanced                        SFC


3.   WTDN

            1.  Option   enroll in bank biller account                 MRSS

            2.  Mano mano

            Short cut description:

            1.  Customer pays at bank

            2.  Customer sends shows deposit 
                  slips  (by messenger)
                  or original

           3.   TA/(CSS) issues OR vs deposit slips

           4.   Report of collection/abstract based on deposit slips

           5.   sbu reports to MLM the daily collection based on deposit slips

            6.  3f collects collection vs deposit slips and compares with passbook balances;   notes discrepancy and collects verifies un reported amounts

   TENTATIVE PROCESS:

            SBU
                                                                                Who                      Where                                 Reports                                          Standards
           1.  Customer Pays   at banks                                                   at our banks:                         None                                                  None
                                                                                                            MBTC BDO RCBC
           2.  Customer texts or DM with pics              TA                         SBU                                    Log of text of customer                        lists as ar ICR
                 (to aid us trace the payment) 
           3.  Customer sends orig of dep. slips           TA                        SBU                                     SBU files dep scans slips                   basis of abstract

           4.   HGMP issues OR                                    TA                        SBU                                    Report of daily collection                1/. date, |dep slip validation number| amount
                                                                                                                                                          from banks:                                         name|    account number
                                                                                                                                                                                                                2.   Basis of abstract
                                                                                                                                                                  \|  cc 3f

          3f

        1.   Asst checks bank balances daily             (temp)                   3f                                    Record of bank balances /sbu daily        1.  Discrepancy with bank balances
                                                                                                                                                   Checks balances vs report of collection      must be researched and followed up
                                                                                                                                                    from banks

             Note:  1.     if we have # 2 being observed, we  will know the difference; source
                        2.     Shall we file all the deposit slips or DM attachment will suffice

FOR COMMENTS AND IMPROVEMENTS
                          
            

         

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