Microenterprise Access to Banking Services Program

Accounting EntriesRBAP-SMART Money Accreditation Training

Accounting Entry Funding of Smart Money Wallets

  Head Office   Branch Level

Account Description Dr Cr Account Description Dr Cr

1) Pre-funding Smart Money Sweep Wallet (EMA)

A/R Smart Money Sweep Wallet 50,000.00        

Due from Local Bank   50,000.00      

2) Pre-funding Smart Money Mother Wallet (CLMA)

A/R Smart Money Mother Wallet 50,000.00        

A/R Smart Money Sweep Wallet   50,000.00      

3) Funding of Smart Money Branch Wallet (SMB CLA)

   Due From Head Office 10,000.00   A/R-Smart Money Branch Cash Loading Wallet 10,000.00  

  A/R - Smart Money Mother Wallet   10,000.00   Due From HO/Branches   10,000.00

1. Sweep Wallet or Encashment Mother Account (EMA)2. Mother Wallet or Cash Loading Mother Account (CLMA)

Accounting Entry Day-to-day Transactions – Branch Level

  Head Office   Branch Level

Account Description Dr Cr Account Description Dr Cr

4) Cash Loading (Money In) (Transactions for the Day)

      Cash On Hand 7,000.00  

      A/R Smart Money Branch Cash Loading Wallet   7,000.00

5) Encashment (Money Out) (Transactions for the Day)

      A/R Smart Money Branch Encashment Wallet 4,000.00  

      Cash on Hand   4,000.00

** Take note that entries to recognize income for MIMO fees is not yet reflected here. You need to prepare a separate entry.

Accounting Entry Consolidation and Settlement

  Head Office   Branch Level

Account Description Dr Cr Account Description Dr Cr

6) Transfer from Branch to Head Office for Consolidation/Settlement

A/R - Smart Money Cash Loading Mother Wallet 7,000.00   Due From HO/Branches 7,000.00  

Due From Head Office   7,000.00AR-Smart Money  Branch (Cash Loading / Encashment) Wallet

  7,000.00

7) Consolidation and Settlement

A/R Smart Money Sweep Wallet 27,000.00        

A/R Smart Money Cash Loading Mother Wallet   27,000.00      

Due from Local Bank 27,000.00    

A/R Smart Money Sweep Wallet   27,000.00      

** Take note that instead of transferring back the total remaining balance of Smart Money (P 47,000) only P 27,000 was transferred back to BDO. P20,000 Smart Money will be used for Smart Money MIMO transactions the following banking day.

Summary: Ending Balance

** Ending Balance after Consolidation Dr Cr

Cash on Hand 3,000.00  

A/R Smart Money Mother Wallet 20,000.00  

Due from Local Bank   23,000.00

Accounting Entry **Reloading of Branch Cash Loading Wallet

  Head Office   Branch Level

Account Description Dr Cr Account Description Dr Cr

6) Reloading of Branch Cash Loading Wallet (SMB CLA)

[a} from Smart Money Mother Wallet (CLMA) to Branch Cash Loading Wallet (SMB CLA)

   Due From Head Office 15,000.00    A/R Smart Money Branch Cash Loading Wallet 15,000.00  

  A/R - Smart Money Cash Loading Wallet   15,000.00  Due From HO/Branches   15,000.00

[b] from to Branch Encashment Wallet (SMB EA) to to Branch Cash Loading Wallet (SMB CLA)

 A/R Smart Money Branch Cash Loading Wallet 15,000.00  

A/R Smart Money Branch Encashment Wallet 15,000.00

End of Presentation