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Microenterprise Access to Banking Services Program

Learn accounting and transactions for GCash Wallets, mobile phone banking, and microenterprise funding. Gain skills in accreditation, consolidation, and settlement of day-to-day operations. Note: Additional entry required for income recognition from Cash In/Cash Out fees.

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Microenterprise Access to Banking Services Program

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Presentation Transcript

  1. Microenterprise Access to Banking Services Program Accounting Entries Accreditation and Implementation Training Mobile Phone Banking

  2. Accounting Entry Funding of GCash Wallets

  3. Accounting Entry Day-to-day Transactions – Branch Level ** Take note that entries to recognize income for Cash In / Cash Out fees is not yet reflected here. You need to prepare a separate entry.

  4. Accounting Entry Consolidation and Settlement ** Take note that instead of transferring back the total remaining balance of GCash (P 47,000) only P 27,000 was transferred back to settlement account. P20,000 GCash will be used for GCash CICO transactions the following banking day.

  5. Summary: Ending Balance

  6. End of Presentation

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