Instructions on Cash and Non-Cash Receipt and Collections and Liquidation of Cash Accountability

September 25, 1970 REVENUE MEMORANDUM ORDER NO. 53-70 As a security measures, to minimize the frequency and to avoid the necessity of periodic withdrawals of cash for the salaries of our personnel and to safeguard the cash for deposits to the Bureau of Treasury by the Chief, Cash and Disbursement Division, the following procedures and instructions are hereby promulgated for the guidance of all concerned: 1. Cash receipt and collections: The Chief, Cash and Disbursement Division, instead of depositing daily the actual cash collections shall keep and accumulates it in his safety vault for the encashment of the treasury warrant being drawn weekly to cover the cash advance for the salaries of the personnel of the Bureau. The encashed treasury warrants is then immediately included with the cash items for deposits with the Treasury Bureau. In the event that the actual cash collection is not sufficient to cover the full amount of the warrant for the advance of salaries, then two warrants should be requested to be drawn, one in the amount of the accumulated cash collection and the other, the difference from the total amount of salaries indicated in the payroll. aisa dc 2. Non-cash receipts and collections All warrants encashed from the collections of the tellers of the Cash and Disbursement Division should be endorsed by the Chief of the Division and deposited periodically with the Treasury Bureau. 3. Liquidation of cash accountability All non-cash items including treasury warrants paid and marked for deposit only, and whatever cash balance is left after encashing the warrant covering the cash advance for the salaries of the Bureau personnel should be finally and immediately accounted and liquidated. Arrangement should be made with the GAO in implementing this new procedure as an exemption to the provision of Section 96 of the National Accounting and Auditing Manual (Vol. II.) (SGD.) MISAEL P. VERA Commissioner of Internal Revenue