On Sat, Jul 14, 2018 at 5:40 PM Jorge Saguinsin <holygardens.groupnew@gmail.com> wrote:
MEMORANDUM CIRCULARTo: All SBU Comptrollers (Accounting Assistant)
Junior AccountantThru: Ms. Madelene R SaguinsinSUBJECT: CORRECTIVE MEASURES TO BE UNDERTAKEN REGARDING ACCOMPLISHMENT AND FILING OF CVObjectives:1. To professionalize AP and TA work;2. To speed up work in looking for files needed for BIR, and other taxes, and solving claims for non payment;3. To correct errors in the work of previous staff4. To learn from the mistakes of previous employees so as not to repeat the sameBackground/reality1. The undersigned initiated participated in the unbundling of boxes of files that were untouched at the store room for more than a year AND WHICH IS BEING USED AS EXCUSES FOR NON COMPLETION OF REPORTS AND DELAYS THE FS DELIVERY (This is the task of subordinates)2. These were the observations from which practical lessons are to be learned..1. No filing system despite MC that is written. There are classification and methodology for filing: by SBU, by month by year2. Incomplete supporting docs for CV:1. JO PO, contracts2. Percentage completion reports3. Payment receipt on CV lacking SOCPN4. AR or AR for receipt of payment. It is blatant for govt agenciesobligations.5. The guidelines for accomplishment of CV for various types of AP:materials, OE, projects not being followed. These were made to:1. Avoid processing without requirements2. To hasten the pace because the timelines for processing are recorded.3. Receipt of payments:1. CVs that are paid must be STAMP marked PAID. NO such marksare visible2. The CV files must contain copies of OR AR. No such records exist inthose that we have unbundled.3. At the minimum, the receipt of the check must be acknowledged at thethe CV.4. FilingIt is a must that CV must be filed properly chronologically or by numbersCross filingWrong filing - cancelled checks are with the CV. They should beRETURNED to the checkbooklet and properly recorded in the checkregistry.Filing by suppliers - large amount of payment as RET, BIR big contractsJV must have separate folders. Threshold: P100,000 total per year -CV with contracts, check photocopy, OR must be filed.What to do next:All accounting staff (SFC at the SBU) and AP assistant are enjoined to observe the following process standards:1. Control of contracts and PO1. The AP Assistant maintains a record of contracts by dates or numbersSuch register serves as entries for AP or NPAP - Trade Notes PayableGovt agencies tax/contribution payableNotes Payable - Obligation to banks and MLIIJV Payable - Unpaid JV sharing that is outstanding (30)days old and beyond2. Aging - AP must be aged from its registry3. Opening of accounts:Each supplier account to be opened requires the following docs:1. DTI or Mayors Permit2. SEC registration3. Picture of the owner4. Authorized representative authorization5. CV if possible of the owner/principal6. Address and contact numberFor contracts that are delicate, they are to be prequalified and evaluated4. Payment of the account:Prioritization for the payment of the account shall be based on:1. Aging of the account - beyond 30 days na ba?2. Request for payment3. Routine expenses: rental, utilities, payroll, taxes, remittances4. Top priority is payment for marketing expense: commissions of agentsprizesThe parties concerned must prepare ahead of deadlines and allocatesufficient time so as not to be late for payment and make adequate pro-vision for CV processing time, approval pouching (at least 7 calendar)days. A payment request made today can not be sent the following day.5. Accomplishment of CV:1. The AP gets consecutive number of CV from the booklets2. A registry of CV is made with blanks for: Check Number and OR/AR3. The AP makes the CV following and using the Check Voucher ProcessChecklist. Print clear copies.The AP is enjoined to strictly follow the CV Process checklist andcomply with the MC on purchasing cash and treasury operationsThe AP and TA are enjoined/compelled to memorize the same. Theofficers are likewise instructed to know and implement the samefairly and strictly6. Check makingThe AP requests that the checks be issued to the designated payee in theCV (This will be modified when we adopt the depository bank system forcheck making)We guess that we just send the list to the bank (the CV with its supportingdocumentsThe encoder must be careful not to make errors because the booklet ofcheck not costs P500.00 at least per booklet7. Receipt of payment1. Once the check is made, the TA makes a registry of checks with corresponding amount, Check number payee, and particulars for the purpose or item to be paid2. When sent to the sbu, the CV yellow copy is retained by the AP. The origwhite copy is sent to the SBU.3. The payee acknowledges receipt of payment on the original (white copy CV with SOCPN4. The Holy Gardens employee demands OR (or AR) from the payee5. The original CV with OR AR is sent to the AP (3f jm)6. The AP files the same with the yellow copy and stamps both copiesincluding DR, contracts etc as paid.8. Filing:It is a must that AP files meticulously and faithfully1. All contracts JO above P100,000 total in a year are filed separately2. The paid CV must conform to 7.63. The AP must group docs by SBU, year month,9. Recording:AP1. JO/PO Contracts2. CV made/3. CV with Checks4. Paid CV with OR AR5. CDBTADisbursements under Daily Cash Position reportFor STRICT SUPERVISION FOR EXECUTION BY JUNIOR ACCOUNTANT AND MAM MADEL...
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Jorge U. SaguinsinBe a BIDDA nowRRURAC (Read, Reflect, Understand, Realize Act, Check)Please visit the following sites:Notice: This email address is a private property of Holy Gardens Group and its contents are private and confidential. Its contents and attachment may not be copied nor forwarded to parties other than the ones intended to, nor can the contents be used other than the original intent You are advised to delete the message you received if in case it may have been wrongly sent to your good office
