CONSTRUCTION IN PROGRESS LEDGER CARD

(CIPLC)

INSTRUCTIONS

A. This ledger shall be accomplished as follows:

1. Agency – name of the agency

2. Construction in Progress – specific type of the asset
constructed per Chart of Accounts (i.e. Agency Assets, Plaza,
Parks, etc)
3. Name of Project – complete name of the project
4. Contract Period - period with which the project will be
completed (start-completion)
5. GL Account Code - General Ledger Account Code as used in
the journals
6. SL Account Code - Subsidiary Ledger Account Code
7. Contractor/Address – name and the address of the contractor
8. Project Cost – total cost of the project/contract
9. Date – date of the source documents
10. Ref. –reference document such as JEV, DV, etc.
11. Particulars - information or details pertaining to the transaction
12. Cost (Direct Materials, Direct labor Overhead, etc.) – cost
being debited to the account
13. Total - total cost of the project as of a specific date

B. Subsidiary Ledgers shall be kept by the Accounting Unit for each

project. At the end of each month, the subsidiary ledger balance
shall be reconciled with the corresponding controlling account.

C. Transactions shall be posted promptly from source documents.

AO 5-14-02 34