Presentation is loading. Please wait.

Presentation is loading. Please wait.

Microenterprise Access to Banking Services Program Accounting Entries Accreditation and Implementation Training Mobile Phone Banking.

Published byJunior Ward Modified over 9 years ago

Similar presentations

Presentation on theme: "Microenterprise Access to Banking Services Program Accounting Entries Accreditation and Implementation Training Mobile Phone Banking."— Presentation transcript:

1 Microenterprise Access to Banking Services Program Accounting Entries Accreditation and Implementation Training Mobile Phone Banking

2 Accounting Entry Funding of GCash Wallets Head Office Branch Level Account DescriptionDrCrAccount DescriptionDrCr 1)Pre-funding GCash Sweep Wallet A/R GCash Sweep Wallet50,000.00 Due from Local Bank 50,000.00 2) Pre-funding GCash Mother Wallet A/R GCash Mother Wallet50,000.00 A/R GCash Sweep Wallet 50,000.00 3) Funding of GCash Branch Wallet Due From Head Office10,000.00 A/R-GCash Branch Cash Loading Wallet 10,000.00 A/R - GCash Mother Wallet 10,000.00 Due From HO/Branches 10,000.00

3 Accounting Entry Day-to-day Transactions – Branch Level Head Office Branch Level Account DescriptionDrCrAccount DescriptionDrCr 4)Cash Loading (Cash In) (Transactions for the Day) Cash On Hand7,000.00 A/R GCash Branch Cash Loading Wallet 7,000.00 5) Encashment (Cash Out) (Transactions for the Day) A/R GCash Branch Encashment Wallet 4,000.00 Cash on Hand 4,000.00 ** Take note that entries to recognize income for Cash In / Cash Out fees is not yet reflected here. You need to prepare a separate entry.

4 Accounting Entry Consolidation and Settlement Head Office Branch Level Account DescriptionDrCrAccount DescriptionDrCr 6) Transfer from Branch to Head Office for Consolidation/Settlement A/R - GCash Mother Wallet7,000.00 Due From HO/Branches7,000.00 Due From Head Office 7,000.00 AR-GCash Branch (Cash Loading / Encashment) Wallet 7,000.00 7) Consolidation and Settlement A/R GCash Sweep Wallet27,000.00 A/R GCash Mother Wallet 27,000.00 Due from Local Bank27,000.00 A/R GCash Sweep Wallet 27,000.00 ** Take note that instead of transferring back the total remaining balance of GCash (P 47,000) only P 27,000 was transferred back to settlement account. P20,000 GCash will be used for GCash CICO transactions the following banking day.

5 Summary: Ending Balance ** Ending Balance after ConsolidationDrCr Cash on Hand3,000.00 A/R GCash Mother Wallet20,000.00 Due from Local Bank 23,000.00

6 End of Presentation

Download ppt "Microenterprise Access to Banking Services Program Accounting Entries Accreditation and Implementation Training Mobile Phone Banking."

Similar presentations

Balancing Your Checking Account All firms must reconcile their check book balances with the balances reported to them by their banks.

Balancing Your Checking Account All firms must reconcile their check book balances with the balances reported to them by their banks.
The General Ledger 4 Post to the ledger The 4 th step of the accounting cycle is to post to the ledger. 4 Post to the ledger The General Ledger is a book.

The General Ledger 4 Post to the ledger The 4 th step of the accounting cycle is to post to the ledger. 4 Post to the ledger The General Ledger is a book.
Unit 1 test will occur on Monday, September 29

Unit 1 test will occur on Monday, September 29
Week 10.  You can have separate accounts receivable accounts with only a handful of customers but what if the business had 500 credit customers?  You.

Week 10.  You can have separate accounts receivable accounts with only a handful of customers but what if the business had 500 credit customers?  You.
REMITTANCE NETWORK Business Presentation. What is PINOY PERA PADALA? PINOY PERA PADALA is a remittance service aggregator that accredits suitable business.

REMITTANCE NETWORK Business Presentation. What is PINOY PERA PADALA? PINOY PERA PADALA is a remittance service aggregator that accredits suitable business.
Branch Organizational Chart Duties & Responsibilities of Branch Personnel.

Branch Organizational Chart Duties & Responsibilities of Branch Personnel.
 Internal Control is the set of procedures used to protect the assets from theft and waste.  Good internal control protects both the business and the.

 Internal Control is the set of procedures used to protect the assets from theft and waste.  Good internal control protects both the business and the.
Consolidation, Settlement, and Reconciliation

Consolidation, Settlement, and Reconciliation
D. Brothwell, CPSLO1 April 17, 2007 2007-2008 Changes to Come.

D. Brothwell, CPSLO1 April 17, Changes to Come.
Chapter 1 Exercises Accounting and the Business Environment

Chapter 1 Exercises Accounting and the Business Environment
2 pt 3 pt 4 pt 5pt 1 pt 2 pt 3 pt 4 pt 5 pt 1 pt 2pt 3 pt 4pt 5 pt 1pt 2pt 3 pt 4 pt 5 pt 1 pt 2 pt 3 pt 4pt 5 pt 1pt Chapter 1&2 Into to Acct Chapter.

2 pt 3 pt 4 pt 5pt 1 pt 2 pt 3 pt 4 pt 5 pt 1 pt 2pt 3 pt 4pt 5 pt 1pt 2pt 3 pt 4 pt 5 pt 1 pt 2 pt 3 pt 4pt 5 pt 1pt Chapter 1&2 Into to Acct Chapter.
Financial Reporting by the Federal Government

Financial Reporting by the Federal Government
Bank Reconciliation. What is bank reconciliation? A process that allows individuals to compare their personal bank account records to the bank's records.

Bank Reconciliation. What is bank reconciliation? A process that allows individuals to compare their personal bank account records to the bank's records.
© 2003 The McGraw-Hill Companies, Inc., All Rights Reserved Chapter 4 Accounting for Branches Combined Financial Statements.

© 2003 The McGraw-Hill Companies, Inc., All Rights Reserved Chapter 4 Accounting for Branches Combined Financial Statements.
Where are we in the Accounting Cycle? 1. Transaction Occurs (Source Document) 2. Transaction Recorded in Journal 3. Journal Entries Posted to the Ledger.

Where are we in the Accounting Cycle? 1. Transaction Occurs (Source Document) 2. Transaction Recorded in Journal 3. Journal Entries Posted to the Ledger.
Week 6.  Need to update certain general ledger accounts at the end of the fiscal period.  Reflect “internal” transactions ◦ Supplies used ◦ Prepaid.

Week 6.  Need to update certain general ledger accounts at the end of the fiscal period.  Reflect “internal” transactions ◦ Supplies used ◦ Prepaid.
BANK RECONCILIATION STATEMENTS.

BANK RECONCILIATION STATEMENTS.
Unit # 4 – The Income Statement. Where we are: 1.Journalize (Using the General Journal) – not yet 2.Post (To Ledger Accounts – which are also known as.

Unit # 4 – The Income Statement. Where we are: 1.Journalize (Using the General Journal) – not yet 2.Post (To Ledger Accounts – which are also known as.
CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 16-1 Recording Adjusting Entries.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 16-1 Recording Adjusting Entries.
Microenterprise Access to Banking Services Program Accounting Entries RBAP-SMART Money Accreditation Training.

Microenterprise Access to Banking Services Program Accounting Entries RBAP-SMART Money Accreditation Training.

Similar presentations

Ads by Google