Personnel Bookkeeper Head of the Accounting Section

A Work Order Officer

B Liquidation Report Liquidation Report

N
N
D
Work Order
Recheck the
Check the Liquidation
Source Report
Prepares Documents
Cash and Report
Advance
Yes
Is the report
Incurred provided
Expense adequate?

Are Source
Documents Countersigns
sufficient proof? on the name of
Source Documents Finance
Manager
N NO
(Receipts) NO Yes

Keeps monitoring
Liquidation Report and countersigns
C
A on the name of
B
N Finance Manager
Chief of the Accounting Division Finance Manager Chief of the Financial Audit Division

Scanned Liquidation Report

C Liquidation Report
N
N
Based from the
Review the existing policy of the
Checked Liquidation Liquidation cooperative
Report Report
N Audit the
report and
attachments
Scan the Take note
Liquidation the
Report comment
Affix her
signature
under her
Make
No name
necessary Is the
comment if
report
needed Audited Liquidation Report
sufficient?

D N

Countersigns
on the name of Yes Indorse to the
Finance Office of
Manager General E
Manager

Signs under
Scanned Liquidation his/her Reviewed Liquidation Report
Report name
N N
 General Manager

Audited Liquidation Report

Approved as
an
Attachment

Use for the preparation of

Journal Voucher

B
 Approval of the Liquidation Report as an Attachment

for Journal Voucher

The process will start with the Personnel who made the cash advance.

He/she must make the Liquidation Report that he/she incurred. Along with

the preparation of the Liquidation Report, the personnel must include the

Source Documents like Official Receipt of those expenses that he/she

incurred that will serve as an evidence for those expenses. These will be

forwarded to the Bookkeeper to check the Source Document as well the

Liquidation Report that the personnel made. If the source document is not a

sufficient proof for the expenses incurred, liquidation report will be given

back to the personnel. Thus if the report, provided sufficient documents for

the liquidation of cash advance, the said report will now be forwarded to

the Head of the Accounting section. The Bookkeeper will keep a monitoring

of the Liquidation Report and will countersign on the name of the Finance

Manager.

The Liquidation Report sent by the Bookkeeper will recheck by the

Head of the Accounting section. If the Head believes that the report

provided is enough, he/she will countersign on the name of the Finance

Manager and the report will then be forwarded to the Chief Financial

Services Division. Those reports that failed to pass the rechecking process

will be given back to the Bookkeeper.

 The Checked Liquidation Report sent by the Head of the Accounting

section will be scanned by the Chief of the Accounting Division and will

make necessary comment if needed. The scanned Liquidation Report will

now be forwarded to the Finance Manager and the Chief of the Accounting

Division will also countersign on the name of the Finance Manager.

Checked and scanned Liquidation Report will be reviewed by the

Finance Manager and will take note the comment made by the chief, as

his/her reference for further decision that he/she will make, regarding the

cash advance for that personnel. He/she has the authority to return the

liquidation report, that he/she thinks that the report is not sufficient. It will

be given back to the Bookkeeper and the missing requirements will be

provided by the personnel who made the cash advance. Reviewed

Liquidation Report will be signed by the Finance Manager under his/her

name and will be forwarded to the Chief of Financial Audit Division.

Liquidation Reports from Accounting Department will be received by

the Chief Financial Auditor. He/she will audit the said report as well as the

attachments. The auditing of the expenses will be based on the existing

policy of the cooperative for that particular type of expense. After the

auditing process, he/she will affix his/her signature under her name and

indorse the Liquidation Report to the Office of General Manager.

 The Audited Liquidation Report sent by the Chief of the Financial

Audit Division will now approved by the General Manager as an Attachment.

After the Approval of the said report, it will be returned to the Bookkeeper

for the preparation of the Journal Voucher.