Latest topics

What are the Procedural Steps upon receipt of Performance Security (Cash)?

View previous topic View next topic Go down

What are the Procedural Steps upon receipt of Performance Security (Cash)?

Post by rbgamatan on Tue Oct 16, 2012 3:33 pm

Thanking in advance for advice that anyone could give.

What are the Procedural Steps upon receipt of Performance Security (Cash)?

Should be issue Official Receipt?
How can they refund the cash?


cheers

rbgamatan
New Member
New Member

Male Number of posts : 16
Registration date : 2011-12-27

Back to top Go down

Re: What are the Procedural Steps upon receipt of Performance Security (Cash)?

Post by regina avelino on Tue Oct 16, 2012 4:29 pm

1. prior receipt of cash, request from the concern department the "order of payment" for the reason/justification for the payment;
2. issue official receipt once cash payment of performance security;
3. record in the Report of Collection and Deposits
You may inquire this to your accountant.

You can refund the performance security upon issuance of the Certificate of Final Acceptance by the procuring entity. The supplier/contractor may write the procuring entity for the refund once the latter has secured the certificate. The certificate may be attached to the Disbursement Voucher as proof of disbursement for the refund.

regina avelino
Board General
Board General

Female Number of posts : 667
Company/Agency : gocc ncr
Occupation/Designation : staff
Registration date : 2012-02-15

Back to top Go down

Re: What are the Procedural Steps upon receipt of Performance Security (Cash)?

Post by rbgamatan on Tue Oct 16, 2012 4:34 pm

Very Happy

Thanks maam regina, btw, what do you mean by "order of payment'? Question

rbgamatan
New Member
New Member

Male Number of posts : 16
Registration date : 2011-12-27

Back to top Go down

Re: What are the Procedural Steps upon receipt of Performance Security (Cash)?

Post by Jovinal on Tue Oct 16, 2012 4:45 pm

Issue Official Receipt.
avatar
Jovinal
Board Veteran
Board Veteran

Male Number of posts : 438
Company/Agency : LGU- Danao City
Occupation/Designation : City Accountant
Registration date : 2011-11-27

Back to top Go down

Re: What are the Procedural Steps upon receipt of Performance Security (Cash)?

Post by rbgamatan on Tue Oct 16, 2012 4:47 pm

Jovinal wrote:Issue Official Receipt.

Saan mo sagot yan sir?

rbgamatan
New Member
New Member

Male Number of posts : 16
Registration date : 2011-12-27

Back to top Go down

Re: What are the Procedural Steps upon receipt of Performance Security (Cash)?

Post by regina avelino on Tue Oct 16, 2012 4:52 pm

not all companies requires order of payment. the order of payment is a form prepared and issued by the concern department of the procuring entity to inform the cashier/treasury/cash/accounting section to receive/accept the payment from an individual/company making the payment. It also indicates the reason for the payment which in your cash the posting of performance security. but if your company does not practice this, it ok to accept payment of the performance security even without the order of payment and just issue official receipt.. my apology.

regina avelino
Board General
Board General

Female Number of posts : 667
Company/Agency : gocc ncr
Occupation/Designation : staff
Registration date : 2012-02-15

Back to top Go down

Re: What are the Procedural Steps upon receipt of Performance Security (Cash)?

Post by rbgamatan on Tue Oct 16, 2012 4:54 pm

regina avelino wrote:not all companies requires order of payment. the order of payment is a form prepared and issued by the concern department of the procuring entity to inform the cashier/treasury/cash/accounting section to receive/accept the payment from an individual/company making the payment. It also indicates the reason for the payment which in your cash the posting of performance security. but if your company does not practice this, it ok to accept payment of the performance security even without the order of payment and just issue official receipt.. my apology.

Thank you so much for the enlightenment maam Regina! cheers Very Happy cheers

rbgamatan
New Member
New Member

Male Number of posts : 16
Registration date : 2011-12-27

Back to top Go down

Re: What are the Procedural Steps upon receipt of Performance Security (Cash)?

Post by Sponsored content


Sponsored content


Back to top Go down

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum