Revenue Processing System

Registration

Customer

Xavier Academy
Statement of Accounts
June 01, 2019
Submits student’s Student’s name
credentials/requirements and Joey Dela Cruz
accomplished Enrollment form.

Tuition Fees P10000

Miscellaneous Fees P 6000
Other Fees P 400
TOTAL P16400
Checks Enrollment form for
validation. Payment P 1700
Installment --
Less:
Scholarship --
Discount
TOTAL P14700

Create student’s account.

Physical handling of cash shall be Official receipts should be pre-

Cashier receives payment from the sole responsibility of the cashier numbered and issued in numerical
parent and issue OR to Client and must be separated from sequence and in appropriate
recording and accounting functions. documentation.

Recording of cash collection as 06/01/19 Cash P1700

Unearned Income – Tuition P1000
down payment to Cash Receipts
Unearned Income – Miscellaneous 600
Journal.
Unearned Income – Other Fees 100
To record down payment from Client.

Unearned
Unearned Miscellaneous Unearned
Tuition Fees Other Fees
OR # 001

Updating General Journal and P1000 P600 P100

Subsidiary Ledger
P
1 Cas
7 h
0
0
Revenue Processing System
Registration

Bookkeeper

06/30/19 Unearned Income - Tuition P1000

Unearned Income - Miscellaneous Fees 600
Unearned Income - Other Fees 40
Records journal Entry for services Tuition P1000
earned for the month of Miscellaneous Fee 600
07/30/19 Other Fees 40
To record services rendered to client.

Recording of cash/check 08/01/19 Cash P1700

collections from installment to Unearned Income – Tuition P1000
Cash Receipts Journal. Unearned Income – Miscellaneous 600
Unearned Income – Other Fees 100
. To record payment from installment from Dela Cruz.

Posting to General Ledger and

Subsidiary Ledger.

Unearned Income - Unearned Income – Other

JV [1] Tuition Fees

P1000 P1000 P40 P100

P100

P0 P160

See Exhibit
1

[1] JV – Journal Voucher

Revenue Processing System
Registration

Exhibit 1
General Journal GJ1
Date Account Title and Description Ref. Debit Credit
Jun-01 Cash 100 1700
Unearned Tuition 201 1000
Unearned Miscellaneous 202 600
Cash collection
Unearned Other Fees 203 100
from registration

General Ledger
Unearned Tuition 201
Date Particulars Ref. Debit Credit Balance
Records from 2019
General Journal to Jun-01 Down payment Dela Cruz GJ1 1000 1000
General ledger.

Subsidiary Ledger
Dela Cruz SA-001
Date Particulars Ref. Debit Credit Balance
2019
Jun-01 Down payment Dela Cruz GJ1 1000 1000

Cash Receipts Journal

Miscella Unearned
Tuition Sales Unearned Unearned
Date Account Ref. Cash Subsidies neous Miscellaneous
Fee Book Tuition Fees Other Fees
Fee Fees
2019
Jun-01 Dela Cruz 1700 1000 600 100
Jul-31 Dela Cruz 1700 1000 600 100
Totals 3400 2000 1200 200