Use of a Pre-Numbered form titled "Office Manager's Counter Receipt"

June 1, 1960 BIR RULING NO. 238-60 Messrs. Sycip, Gorres, Velayo & CO. Certified Public Accountants P. O. Box 589, Manila Gentlemen : Reference is made to your letter of the 26th ultimo, requesting a ruling as follows: cd "Our client, Investment Planning Corporation of the Philippines, intends to use a pre-numbered form titled "OFFICE MANAGER'S COUNTER RECEIPT". This receipt shall be issued to registered representatives of the company by this Office Manager as a means of acknowledging from the representatives their collections received from the investing public when turned over to the company. It is designed to clear the representatives of their responsibility with respect to cash collections. "The receipt will not be issued to the investing public and intended merely as an internal form for purposes of control. All collections from the investing public shall be evidenced by provisional receipts issued by the registered representatives and the official receipt mailed later to the investor. "We would like to have your ruling as to whether or not such form is still required under the bookkeeping Regulations to be registered with your office prior to its use. We believed that such form, not being the basis of entries in the books of accounts of the company but merely for internal control purposes in order to protect the registered representatives, is not required to be registered with your office before using the same. In answer thereto, I have the honor to inform you that, based on the aforequoted facts, said form or receipts need not be registered and approved by this Office prior to their use. cdta Very truly yours, (SGD.) MELECIO R. DOMINGO Commissioner of Internal Revenue