Processing of Accounting Documents

Requirements

Payroll
  • Original Appointment
  • Reappointment
  • Retirement Gratuity and Terminal Leave
  • Salary Differential
  • Professional Chair/Faculty Grant
  • RATA and Honoraria
Disbursement Vouchers
  • Supplies and Equipment (Direct Payment)
  • Reimbursement
  • Repair
  • Gasoline
  • Infrastructure
  • Cash Advance - Foreign Travel
  • Cash Advance - Local Travel
  • Cash Advance - Financial Assistance
  • Cash Advance - General Payroll
  • Cash Advance - Miscellaneous
  • Cash Advance - Petty Cash Expenses

Witholding Tax Procedures

Requirements

Computation of Withholding Tax Income
  • Personal Exemption
  • Additional Personal Exemption
  • Exclusion from Taxable Income
  • Income Tax Table
Computation of Tax on Purchases, Services Rendered and Contractors
(Purchases of Goods and Services Amounting to P1,000 and above)
  • 3% Value Added Tax of Goods, Gross Amount over 11x10x3%
  • 6% Value Added Tax for Sales of Services, Gross Amount Over 11x10x6%
  • Additional 1% Expanded Tax for Purchases Amounting to P100,000
    • Contractors Tax
    • 8% Tax, Gross Amount x 8%
    • Additional 1% Expanded Tax, Gross Amount x 1%

Flow of Documents

  • Disbursement Vouchers - Special Payrolls
  • Purchase of Supplies and Equipment by Colleges/Offices
  • Disbursement Vouchers - Reimbursements
  • Payment Through Computerized Payroll
  • Disbursement Vouchers for Cash Advance
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