## Bing

The Commission on Audit has prescribed a chart of accounts for barangay financial
transactions. The chart of accounts is used to record barangay financial
transactions under the double-entry method of bookkeeping. The chart of accounts is
composed of different account titles and codes, which are used to classify
financial transactions. The chart of accounts includes the following account titles
and codes for assets:
- Cash on Hand (1-01-01-010)
- Cash - In Local Treasury (1-01-01-020)
- Petty Cash (1-01-02-010)
- Cash in Bank - Local Currency, Current Account (1-01-02-010)
- Investment in Time Deposits (1-03-01-010)
- Accounts Receivable (1-03-01-011)
- Allowance for Impairment - Accounts Receivable (1-03-02-010)
- Due from Local Government Units (1-03-03-010)
- Advances for Payroll (1-03-03-020)
- Other Receivables (1-03-04-010)
- Due from Officers and Employees (1-03-04-020)
- Allowance for Impairment - Other Receivables (1-03-04-990)
- Receivables - Disallowances/Charges (1-03-04-991)
- Inventory Held for Sale (1-04-01-010)
- Merchandise Inventory (1-04-02-010)
- Welfare Goods for Distribution (1-04-02-020)
- Drugs and Medicines for Distribution (1-04-02-990)
- Other Supplies and Materials for Distribution (1-04-03-010)
- Inventory Held for Consumption (1-04-03-020)
- Office Supplies Inventory (1-04-03-030)
- Inventory Accountable Forms, Plates and Stickers (1-04-03-990)
- Construction Materials Inventory (1-05-01-010)
- Other Supplies and Materials Inventory (1-05-01-990)
- Advances to Contractors (1-06-01-010)
- Investment Property - Land (1-06-01-012)
- Accumulated Impairment Losses - Investment Property - Land (1-06-01-020)
- Investment Property - Buildings (1-06-01-021)
- Accumulated Depreciation - Investment Property - Buildings (1-06-01-022)
You can find more information about the chart of accounts in the following link: .