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Guidance for the Chart of Accounts

The accounts presented in this document are the ones required to be used in maintenance of books
and presentation of the financial statements. However, accounts are not limited to the ones presented
here; the student body shall still have the discretion to add any account, as it may deem necessary
whenever any transaction does not have a corresponding account presented here.
NEGATIVE CASH BALANCE
In both program and monthly financial statements, if cash outflows are in excess of cash inflows,
the negative cash balance is a liability to the student body. Negative cash balance means that some
officers have personally advanced some expenses. The student body has the responsibility to prepare
a separate statement for personal advances, which is a breakdown of the expenses personally
advanced by any officer. A negative cash balance (and subsequently a Personal Advances Report)
is only allowed if the officers need to be reimbursed and if they were able to substantiate these
expenses.
POSITIVE CASH BALANCE
In case of events, if cash inflows are in excess of cash outflows, the remaining cash balance shall be
surrendered back to the Treasurer who already has the discretion to maintain it for future use. In
case of monthly interim reports, a positive cash balance shall be broken down to who holds the
cash of such amount.
TEMPLATES PROVIDED BY COA
1. Program Financial Statements (with Notes, Disclosures, and Comments; Personal
Advances Report)
2. Monthly Financial Statements(with Notes, Disclosures, and Comments; Personal Advances
Report; Breakdown of Ending Cash Balance)
3. Acknowledgment Receipt
4. Subsidy Disbursement Receipt
5. Certificate of No Receipt – limited to three instances per officer; for relatively small amounts
only
COA can provide templates for both the program and monthly financial statements. In the excel
file for each type of financial statement, other sheets include templates for Notes, Disclosures, and
Comments and the Personal Advances report for negative cash balances. In the excel file for
monthly financial statement, aside from the Notes and the personal advances report, one sheet
provides the template for the breakdown of the monthly ending cash balance.
COMMUNICATE WITH YOUR RESIDENT AUDITOR REGARDING THE CHART OF
ACCOUNTS AND THE TEMPLATES.
REFERENCES TO PAGES:
For the NUSG departments, please refer to NUSG (page 2); for College Student Councils, please
refer to College Student Councils (page 4); for RSOs, please refer to Registered Student
Organizations (page 6)
NUSG departments
Cash Inflows
1. NUSG Fund – 100 pesos, acquired from the Accounting Office in instalments
a. Evidences or support documents: Receiving copy or OR from Accounting office
or Acknowledgment receipt issued by NUSG to Accounting clerk
2. External Sponsorships – the funds acquired from entities outside the University
a. Evidences or support documents: Contracts with sponsors or Memorandum of
Agreements
3. Proceeds from Sale/Fundraising – use “Proceeds from Sale” if student body buys
merchandise and resells it; use “Proceeds from Fundraising” if student body collects
amounts from students
a. Evidences or support documents: list of buyers/donors disclosing the amount paid,
merchandise bought, and signature; copy of vouchers or ORs issued to buyers or
donors
4. Cash Appropriation from Treasurer – shall only be used for program/event/activity
financial statements. This represents fund provided by the student body (through the
treasurer) to the committee of the particular event/program/activity.
a. Evidences o support documents: Acknowledgment receipt issued by recipient of
cash; Subsidy disbursement receipt issued by NUSG
5. Loans – if the student body gets additional cash from other student bodies or entities
which it shall repay, the cash received is a loan
a. Evidences or support documents: Acknowledgment receipt issued by NUSG; any
written contract evidencing loan; receiving copy of any source document evidencing
loan
6. Subsidy from OSA – funds acquired from OSA
a. Evidences or support documents: Acknowledgment receipt issued by NUSG or
receiving copy of document from OSA
7. Registration fees – registration paid by registrants
a. Evidences or support documents: List of registrants disclosing the amount of fee
paid and signature; copy of vouchers issued to registrants
8. Reimbursements – if the student body has advanced for expenses which it should not
pay and get reimbursed for the same, the reimbursement is a cash inflow for the student
body. Example, NUSG gets reimbursed from OSA for expenses during U-week.
a. Evidences or support documents: Acknowledgment receipt issued by NUSG; any
receiving copy evidencing reimbursement
9. Funds from Last Administration – these represent funds from previous administration,
which has retained funds for the current administration
a. Evidences or support documents: Copy of passbook in case funds are from a bank
account; Acknowledgment receipt issued by NUSG
Cash Outflows
Substantially, all outflows are evidenced by Official Receipts, vouchers, or any alternative
handwritten receipts containing the amount paid, the name of expense, date, and signature
of seller.
1. Supplies (school supplies like paper of any type, ballpen, pencil, stapler, stapler wires,
envelopes, ink cartridges, etc. )
2. Materials Design expense (materials which are used in setting-up stages and which do
not fall under supplies; these may include purchased tarpaulins, purchased tools to create
the stage of an event)
3. Rent expense(rentals of sound system or any equipment, rentals of lights, any rental of
assets to be returned)
4. Merchandise inventory (purchase of merchandise to be resold; proceeds from the sale
of merchandise inventory shall be accounted as “Proceeds from sale”)
5. Transportation expense (jeep, taxi, tricycle, train, any vehicle)
6. Prizes (trophies, medals, and pins as prizes)
7. Subsidies – subsidies to the CSCs and Subsidies to University representatives shall also
under this account. Donations to various program beneficiaries are also included under
“Subsidies”
8. Food and Meal Allowances (for purchases of food and drinks in events)
9. Honorarium (payment to speakers or special guests)
10. Equipment (purchase of sound system or any equipment like photocopier, printer,
computers, any electrical devices; rent of equipment falls under “Rent expense” and not
on this account)
11. Furniture and Fixtures (purchase of cabinets, tables, chairs, etc.; rent of furniture and
fixtures shall be under “Rent expense” and not here)
12. Miscellaneous expenses (photocopy and other small expenses not falling under any of
the above accounts)
College Student Councils
Cash inflows
1. Subsidy from NUSG
a. Evidences or support documents: Acknowledgment receipt issued by the CSC;
Subsidy Disbursement Receipt issued by the NUSG
2. External Sponsorships – the funds acquired from entities outside the University
a. Evidences or support documents: Contracts with sponsors or Memorandum of
Agreements
3. Proceeds from Sale/Fundraising – use “Proceeds from Sale” if student body buys
merchandise and resells it; use “Proceeds from Fundraising” if student body collects
amounts from students
a. Evidences or support documents: list of buyers/donors disclosing the amount
paid, merchandise bought, and signature; copy of vouchers or ORs issued to
buyers or donors
4. Cash Appropriation from Treasurer – shall only be used for program/event/activity
financial statements. This represents fund provided by the student body (through the
treasurer) to the committee of the particular event/program/activity.
a. Evidences o support documents: Acknowledgment receipt issued by recipient
of cash; Subsidy disbursement receipt issued by the CSC
5. Loans – if the student body gets additional cash from other student bodies or entities
which it shall repay, the cash received is a loan
a. Evidences or support documents: Acknowledgment receipt issued by the CSC;
any written contract evidencing loan; receiving copy of any source document
evidencing loan
6. Subsidy from OSA – funds acquired from OSA
a. Evidences or support documents: Acknowledgment receipt issued by CSC or
receiving copy of document from OSA
7. Registration fees – registration paid by registrants
a. Evidences or support documents: List of registrants disclosing the amount of
fee paid and signature; copy of vouchers issued to registrants
8. Reimbursements – if the student body has advanced for expenses which it should not
pay and get reimbursed for the same, the reimbursement is a cash inflow for the student
body. Example, NUSG gets reimbursed from OSA for expenses during U-week.
a. Evidences or support documents: Acknowledgment receipt issued by the CSC;
any receiving copy evidencing reimbursement
9. Funds from Last Administration – these represent funds from previous administration,
which has retained funds for the current administration
a. Evidences or support documents: Copy of passbook in case funds are from a
bank account; Acknowledgment receipt issued by the CSC
Cash outflows
Substantially, all outflows are evidenced by Official Receipts, vouchers, or any alternative
handwritten receipts containing the amount paid, the name of expense, date, and signature
of seller.
1. Supplies (school supplies like paper, ballpen, pencil, stapler, stapler wires, envelopes, ink
cartridges, etc. )
2. Materials Design expense (materials which are used in setting-up stages and which do
not fall under supplies; these may include purchased tarpaulins, purchased tools to create
the stage of an event)
3. Rent expense (rentals of sound system or any equipment, rentals of lights, rentals of any
form)
4. Merchandise inventory (purchase of merchandise to be resold; proceeds from the sale
of merchandise inventory shall be accounted as “Proceeds from sale”)
5. Transportation expense (jeep, taxi, tricycle, train, any vehicle)
6. Prizes (trophies, medals, and pins as prizes)
7. Subsidies – these are subsidies to University representatives or donations to various
program beneficiaries in form of cash
8. Food and Meal Allowances (for purchases of food and drinks in events)
9. Honorarium (payment to speakers or special guests)
10. Equipment (purchase of sound system or any equipment like photocopier, printer,
computers, any electrical devices; rent of equipment falls under “Rent expense” and not
on this account)
11. Furniture and Fixtures (purchase of cabinets, tables, chairs, etc.; rent of furniture and
fixtures shall be under “Rent expense” and not here)
12. Miscellaneous expenses (photocopy and other small expenses not falling under any of
the above accounts)
Registered Student Organizations (RSOs)
Cash Inflows
1. Subsidy from OSA
a. Evidences or support documents: Acknowledgment receipt issued by the RSO;
receiving copy from OSA
2. Membership fees – membership fees paid
a. Evidences or support documents: List of members disclosing the amount paid,
date, and signature; copy of vouchers issued to the members
3. External Sponsorships – the funds acquired from entities outside the University
a. Evidences or support documents: Contracts with sponsors or Memorandum of
Agreements
4. Proceeds from Sale/Fundraising – use “Proceeds from Sale” if student body buys
merchandise and resells it; use “Proceeds from Fundraising” if student body collects
amounts from students
a. Evidences or support documents: list of buyers/donors disclosing the amount
paid, merchandise bought, and signature; copy of vouchers or ORs issued to
buyers or donors
5. Cash Appropriation from Treasurer – shall only be used for program/event/activity
financial statements. This represents fund provided by the student body (through the
treasurer) to the committee of the particular event/program/activity.
a. Evidences o support documents: Acknowledgment receipt issued by recipient
of cash; Subsidy disbursement receipt issued by the RSO
6. Loans – if the student body gets additional cash from other student bodies or entities
which it shall repay, the cash received is a loan
a. Evidences or support documents: Acknowledgment receipt issued by the RSO;
any written contract evidencing loan; receiving copy of any source document
evidencing loan
7. Subsidy from OSA – funds acquired from OSA
a. Evidences or support documents: Acknowledgment receipt issued by the RSO
or receiving copy of document from OSA
8. Registration fees – registration paid by registrants
a. Evidences or support documents: List of registrants disclosing the amount of
fee paid and signature; copy of vouchers issued to registrants
9. Reimbursements – if the student body has advanced for expenses which it should not
pay and get reimbursed for the same, the reimbursement is a cash inflow for the student
body. Example, NUSG gets reimbursed from OSA for expenses during U-week.
a. Evidences or support documents: Acknowledgment receipt issued by the RSO;
any receiving copy evidencing reimbursement
10. Funds from Last Administration – these represent funds from previous administration,
which has retained funds for the current administration
a. Evidences or support documents: Copy of passbook in case funds are from a
bank account; Acknowledgment receipt issued by the RSO
Cash outflows
Substantially, all outflows are evidenced by Official Receipts, vouchers, or any alternative
handwritten receipts containing the amount paid, the name of expense, date, and signature
of seller.
1. Supplies (school supplies like paper, ballpen, pencil, stapler, stapler wires, envelopes, ink
cartridges, etc.)
2. Rent expense (rentals of sound system or any equipment, rentals of lights, rentals of any
form)
3. Materials Design expense (materials which are used in setting-up stages and which do
not fall under supplies; these may include purchased tarpaulins, purchased tools to create
the stage of an event)
4. Merchandise inventory (purchase of merchandise to be resold; proceeds from the sale
of merchandise inventory shall be accounted as “Proceeds from sale”)
5. Transportation expense(jeep, taxi, tricycle, train, bus, any vehicle)
6. Prizes (trophies, medals, and pins as prizes)
7. Subsidies – accommodations to University representatives or donations to various
program beneficiaries in form of cash
8. Food and Meal Allowances (for purchases of food and drinks in events)
9. Honorarium (payment to speakers or special guests)
10. Equipment (purchase of sound system or any equipment like photocopier, printer,
computers, any electrical devices; rent of equipment falls under “Rent expense” and not
on this account)
11. Furniture and Fixtures (purchase of cabinets, tables, chairs, etc.; rent of furniture and
fixtures shall be under “Rent expense” and not here)
12. Miscellaneous expenses (photocopy and other small expenses not falling under any of
the above accounts)

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