Author Topic: Receipts for Donations  (Read 47153 times)

Scarb

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Re: Receipts for Donations
« Reply #80 on: September 30, 2010, 06:41:25 PM »
Oh man..oh je money..money²..ka bibo ba dinhi  ;)

Hey folks, when it come to cases like this, there must be a "black and white protocol" (its an auditing idiom)
- mean.. it should be recorded properly thru "incoming and outgoing" invoices.
 - any monetary transaction must be reported to BIR whether its non-profit,private or firm.

-On the part of a Donor whether private or firm,there must be an invoice or receipt testifying the said amount >given to a certain org.
 -this outgoing invoice will be used for yearly Income Tax Return (ITR) and for Financial statement.

-On the part of Charity org. or whatever it is..as a recipient(incoming invoice) is necessary.
 - Liquidation of money transaction from one beneficiary to another is a must.
 - say.., a needy person received 500php(say for hospital dues), he/she must sign a receipt thus he/she handed the said amount.

The Charity Organization as a whole is liable in any failure (as to what the case-maybe),not only the representatives or officers.
  Members have the right to question where the money comes and goes.

-zitat- (my one cent opinion)  :-X

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Logical consequences are the scarecrows of fools and the beacons of wise men. ~ Thomas Henry Huxley~

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vrglguapo

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Re: Receipts for Donations
« Reply #81 on: September 30, 2010, 06:45:05 PM »
Doy na-a pa bay dinomogan diha?
Wala man Tess..pero nia sa T B ga dinomogay na ning mga tawo diri.hehehe.

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hofelina

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Re: Receipts for Donations
« Reply #82 on: September 30, 2010, 06:53:36 PM »
Oh man..oh je money..money²..ka bibo ba dinhi  ;)

Hey folks, when it come to cases like this, there must be a "black and white protocol" (its an auditing idiom)
- mean.. it should be recorded properly thru "incoming and outgoing" invoices.
 - any monetary transaction must be reported to BIR whether its non-profit,private or firm.

-On the part of a Donor whether private or firm,there must be an invoice or receipt testifying the said amount >given to a certain org.
 -this outgoing invoice will be used for yearly Income Tax Return (ITR) and for Financial statement.

-On the part of Charity org. or whatever it is..as a recipient(incoming invoice) is necessary.
 - Liquidation of money transaction from one beneficiary to another is a must.
 - say.., a needy person received 500php(say for hospital dues), he/she must sign a receipt thus he/she handed the said amount.

The Charity Organization as a whole is liable in any failure (as to what the case-maybe),not only the representatives or officers.
  Members have the right to question where the money comes and goes.

-zitat- (my one cent opinion)  :-X

Saksto si Scarb kay adunay Standard Operating Procedures labi na nga kini rehistrado sa SEC. Aron malikayan ang tahap ug corruption. Daghang kaponongan dinhe mao ang nakapokan, kay kon mogaya ang kwarta, ang namolo dili na makahatag ug tarong nga audit sa transactions.

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Scarb

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Re: Receipts for Donations
« Reply #83 on: September 30, 2010, 07:02:51 PM »
Pakapin: para sa wla pa kahibalo  ;) (labina kadtong OFW)

-Deri sa gawas kada lihok nimo..money..taxes here and there..
 - naay church tax, naay solidarity tax ..naay jobless tax..etc..halos mahurot na laman imo "brutto income" ug deduct mga taxes.
  -imo netto income igo na laman makalibot sa sunod sweldo..huuh

But.., wake up..naa sad paagi para makabawe or maulian ka sa imong nangabayad.
  -for example: kana magpadala tag donation sa kapelya or charity org.
-ang imo recibo ana imo e apil padala sa imong report kon mag file naka ug yearly income tax return..a percentage of it mahibalik nimo.

-Bizan kanang atong padala sa parents ky wla sila pension ug mga tigulang na..di ba consider na sila nga atong dependant?
 - kana imong recebo sa banko pagpadala adto na under "family help" protocol -(under pauschal expenses)mahimutang
  -pwede sad na ma apil sa atong ITR..-mabalikan sad ta ana ug gamay.

Take note: U need a certification signed by Brgy.Capt. and other Brgy. officials
  -nga imo parents buhi pa and that they received your "sustento"

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Logical consequences are the scarecrows of fools and the beacons of wise men. ~ Thomas Henry Huxley~

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Scarb

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Re: Receipts for Donations
« Reply #84 on: September 30, 2010, 07:07:48 PM »
Saksto si Scarb kay adunay Standard Operating Procedures labi na nga kini rehistrado sa SEC. Aron malikayan ang tahap ug corruption. Daghang kaponongan dinhe mao ang nakapokan, kay kon mogaya ang kwarta, ang namolo dili na makahatag ug tarong nga audit sa transactions.

Bitaw Manay, di ba deri sa atong nahimutang..they need the so called "schwarz und weiss" report wlay kulang ,wlay sobra ..jajaja

Daghang sila agongot pagkuot sa imo last cent..taxes nga dli mabangbang..pero daghan sad paagi mabalik ang uban nimong wawartz.

Anyway Manay kana atong church tax og solidarity tax..automatic nila e deduct pero naay percentage ana mabalik nimo.  ;)

Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=32449.0
Logical consequences are the scarecrows of fools and the beacons of wise men. ~ Thomas Henry Huxley~

Romans 10:9
"That if you shall confess with your mouth the Lord Jesus, and shall believe in your heart that God has raised him from the dead, you shall be saved."
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Re: Receipts for Donations
« Reply #85 on: September 30, 2010, 07:52:30 PM »
correct very very correct scarb... I really want that sharing of yours so that the people in the philippines how taxes are paid out outside our countries.  here sayon2x lang panikas sa mga business operators... If DYRD then is trusting Gerry Pabe handling the money without receipts and vouchers then they are practicing that maybe wihtout clear financial statements... since they are not used to isuance of receipts.  All sponsors should ask for receipts so that the amount they have paid will be reflected on the books of accounts of DYRD... but these donations I don't know... even though we trust them there should be proper documentations for auditing puroses... Mao gyud na dapat... Dili kay masuko tag naay mag audit kay hilabtanon daw............Wherever business is and wherever money is involved there should be auditing for documentaion....the persons handling money should not get angry and dictate whatsoever what the auditor will do......

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Re: Receipts for Donations
« Reply #86 on: September 30, 2010, 07:59:27 PM »
Before you the Government agencies will send this court the concerned organizations should submit audited financial statements.... To clarify where does the collection reflects????? And who would pay the penalties????? pagka thrilling nila??? Should the group sacrifice that the group have made efforts but sacrificed due to negative attitudes of people who does not want to have audited.  Once you are holding money from public you are subject for audit bisan asa man gyud na..... Bisan sa dajong sa baryo naa gyud na klarong balansi ug mga pirmahanay sa modawat sa kwarta....

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JellyBean

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Re: Receipts for Donations
« Reply #87 on: September 30, 2010, 08:03:06 PM »
Oh man..oh je money..money²..ka bibo ba dinhi  ;)

Hey folks, when it come to cases like this, there must be a "black and white protocol" (its an auditing idiom)
- mean.. it should be recorded properly thru "incoming and outgoing" invoices.
 - any monetary transaction must be reported to BIR whether its non-profit,private or firm.

-On the part of a Donor whether private or firm,there must be an invoice or receipt testifying the said amount >given to a certain org.
 -this outgoing invoice will be used for yearly Income Tax Return (ITR) and for Financial statement.

-On the part of Charity org. or whatever it is..as a recipient(incoming invoice) is necessary.
 - Liquidation of money transaction from one beneficiary to another is a must.
 - say.., a needy person received 500php(say for hospital dues), he/she must sign a receipt thus he/she handed the said amount.

The Charity Organization as a whole is liable in any failure (as to what the case-maybe),not only the representatives or officers.
  Members have the right to question where the money comes and goes.

-zitat- (my one cent opinion)  :-X

Than you scarb for informing the readers here in TB who are reading this topic. This is exactly what I have been telling the TBN Club that the people are signing forms that they have received money and some have to do it more than once depending on normally what company or institute is being the one to donate.

The donations are being heard on air and are also being printed every weekend in the chronicle.

I just would like to say keep on donating anything is even acceptable sometimes people donate baby formulas, diapers like i have also donated, foods, as well, clothes.....as these people as I have said come in so hungry poor and looy....

Again thank you scarb what you said about signing forms of money received ot is what i have been repeating to TBN club members for some time.....until I am literally blue in the face......LOL!!!

Also thank you to my friends in here for the nice words.

You are all correct it is the personal attack made by a woman who does not even know me, who has the audacity to talk lies and try to make me look bad......and she is doing it under a hidden name at that.... I am sorry for this. Normally this site is a pleasant site as we are like family......I think we need another TBN eyeball here soon!.....Ingat everyone....




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luckybelle

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Re: Receipts for Donations
« Reply #88 on: September 30, 2010, 08:15:04 PM »
Nice Priscy, Just keep your cool. Ingat, tsaka God bless. I hope, this lil ...... will put to an end...  ;)

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;)

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Re: Receipts for Donations
« Reply #89 on: September 30, 2010, 09:23:30 PM »
Oh man..oh je money..money²..ka bibo ba dinhi  ;)

Hey folks, when it come to cases like this, there must be a "black and white protocol" (its an auditing idiom)
- mean.. it should be recorded properly thru "incoming and outgoing" invoices.
 - any monetary transaction must be reported to BIR whether its non-profit,private or firm.

-On the part of a Donor whether private or firm,there must be an invoice or receipt testifying the said amount >given to a certain org.
 -this outgoing invoice will be used for yearly Income Tax Return (ITR) and for Financial statement.

-On the part of Charity org. or whatever it is..as a recipient(incoming invoice) is necessary.
 - Liquidation of money transaction from one beneficiary to another is a must.
 - say.., a needy person received 500php(say for hospital dues), he/she must sign a receipt thus he/she handed the said amount.

The Charity Organization as a whole is liable in any failure (as to what the case-maybe),not only the representatives or officers.
  Members have the right to question where the money comes and goes.

-zitat- (my one cent opinion)  :-X

 Good Point Scarbie! :) :) :)

 

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Re: Receipts for Donations
« Reply #90 on: September 30, 2010, 09:27:14 PM »

way to go, jelly bean.  i actually admire your steadfastness in things that you care about. 

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Scarb

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Re: Receipts for Donations
« Reply #91 on: September 30, 2010, 09:29:29 PM »
Good Point Scarbie! :) :) :)

 

Ahihi tnx. partz, di ba mao jud nay klarex bazta wawartz ang hisgutan..recibo³ ang dag-anan bizan asa ka manangkong..!  ;D

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Logical consequences are the scarecrows of fools and the beacons of wise men. ~ Thomas Henry Huxley~

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Re: Receipts for Donations
« Reply #92 on: September 30, 2010, 09:55:58 PM »
Well all i can say now is i have the right to remain silent ,what i say might be used against me.I am still waiting what the judges would say. Guilty or not? hehehe!

if my understanding is correct, an investigation is either going on or has yet to be undertaken, but it looks like accusations are already being hurled.  what's the process here?  guilty until proven innocent?

the accusations are even multi-layered, from the legal to the personal.  whew!

an added dimension is the idea that here are boholanos accusing fellow boholanos and there's an american defending the accused.  needless to say, principles have no ethnicity or nationality.  it's just that this situation makes for a great, great world!


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Republic Act 8485 (Animal Welfare Act of 1998, Philippines), as amended and strengthened by House  Bill 6893 of 2013--- violation means a maximum of P250,000 fine with a corresponding three-year jail term and a minimum of P30,000 fine and six months imprisonment

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Re: Receipts for Donations
« Reply #93 on: September 30, 2010, 09:58:28 PM »
Oh man..oh je money..money²..ka bibo ba dinhi  ;)

Hey folks, when it come to cases like this, there must be a "black and white protocol" (its an auditing idiom)
- mean.. it should be recorded properly thru "incoming and outgoing" invoices.
 - any monetary transaction must be reported to BIR whether its non-profit,private or firm.

-On the part of a Donor whether private or firm,there must be an invoice or receipt testifying the said amount >given to a certain org.
 -this outgoing invoice will be used for yearly Income Tax Return (ITR) and for Financial statement.

-On the part of Charity org. or whatever it is..as a recipient(incoming invoice) is necessary.
 - Liquidation of money transaction from one beneficiary to another is a must.
 - say.., a needy person received 500php(say for hospital dues), he/she must sign a receipt thus he/she handed the said amount.

The Charity Organization as a whole is liable in any failure (as to what the case-maybe),not only the representatives or officers.
  Members have the right to question where the money comes and goes.

-zitat- (my one cent opinion)  :-X

jawohl!  nigawas ra gyod ang pagka-accountant ni miga scarbzy.  (danke for coming back!)


Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=32449.0
Republic Act 8485 (Animal Welfare Act of 1998, Philippines), as amended and strengthened by House  Bill 6893 of 2013--- violation means a maximum of P250,000 fine with a corresponding three-year jail term and a minimum of P30,000 fine and six months imprisonment

Book your travel tickets anywhere in the world, go to www.12go.co

Scarb

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Re: Receipts for Donations
« Reply #94 on: September 30, 2010, 10:34:36 PM »
jawohl!  nigawas ra gyod ang pagka-accountant ni miga scarbzy.  (danke for coming back!)


Kulirez ka miga Havaianababes ayaw bandilio diha ky maulaw ta..sipaon tika ron sa kaugalingon nimong tsinelas ron tyahahaha jokes..
Btw, nagkaraoy kog kadijut woi..bawo ala ma labsik§ na over evah tali..uhm jawohL-bow.

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Logical consequences are the scarecrows of fools and the beacons of wise men. ~ Thomas Henry Huxley~

Romans 10:9
"That if you shall confess with your mouth the Lord Jesus, and shall believe in your heart that God has raised him from the dead, you shall be saved."
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vrglguapo

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Re: Receipts for Donations
« Reply #95 on: September 30, 2010, 10:36:25 PM »
correct very very correct scarb... I really want that sharing of yours so that the people in the philippines how taxes are paid out outside our countries.  here sayon2x lang panikas sa mga business operators... If DYRD then is trusting Gerry Pabe handling the money without receipts and vouchers then they are practicing that maybe wihtout clear financial statements... since they are not used to isuance of receipts.  All sponsors should ask for receipts so that the amount they have paid will be reflected on the books of accounts of DYRD... but these donations I don't know... even though we trust them there should be proper documentations for auditing puroses... Mao gyud na dapat... Dili kay masuko tag naay mag audit kay hilabtanon daw............Wherever business is and wherever money is involved there should be auditing for documentaion....the persons handling money should not get angry and dictate whatsoever what the auditor will do......
My understanding on this sentence is that what you mean to say is Gerry and the Manager of DYRD is in connivance of not issuing a receipts to donors of TBN.If that is the case since you call Gerry a PROFESSIONAL BEGGAR IN LOGIC THAT ALSO GOES TO PETER the manager of DYRD.I hope you know what you are talking about.The Dejaresco is one of the most respected family in Tagbilaran.And what you are doing is a defamation of their family name.I advice you to come to your senses and let the proper authorities look into this matter or you will be in a precarious position..

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Re: Receipts for Donations
« Reply #96 on: September 30, 2010, 10:51:48 PM »
Money! Money changes everything :D ;) :)

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Re: Receipts for Donations
« Reply #97 on: September 30, 2010, 11:04:12 PM »
Kulirez ka miga Havaianababes ayaw bandilio diha ky maulaw ta..sipaon tika ron sa kaugalingon nimong tsinelas ron tyahahaha jokes..
Btw, nagkaraoy kog kadijut woi..bawo ala ma labsik§ na over evah tali..uhm jawohL-bow.

hahaha, matunok kag imo kong sipaon.  dapat ka lang mobalik sa tb uy.  barangon ta kag magpadugay-dugay ug tungha. ;D

(kulirez, namilit ang akong gikaon nga chocolate sa keyboard.  imbestigaron unya ko ani. ;D)



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Republic Act 8485 (Animal Welfare Act of 1998, Philippines), as amended and strengthened by House  Bill 6893 of 2013--- violation means a maximum of P250,000 fine with a corresponding three-year jail term and a minimum of P30,000 fine and six months imprisonment

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Scarb

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Re: Receipts for Donations
« Reply #98 on: September 30, 2010, 11:10:58 PM »
hahaha, matunok kag imo kong sipaon.  dapat ka lang mobalik sa tb uy.  barangon ta kag magpadugay-dugay ug tungha. ;D

(kulirez, namilit ang akong gikaon nga chocolate sa keyboard.  imbestigaron unya ko ani. ;D)



Nahibalo ko why-ngano namilit na..napuwazik na pag hagakhak nimo samtang gauzap ka ana imo tzolet.
Klarex nga pangitaan ka ana ug report..unzay due process nimo nga namilit ang tzolet sa keyboard? agik-ik ko...!

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Re: Receipts for Donations
« Reply #99 on: October 01, 2010, 12:26:52 AM »
Nahibalo ko why-ngano namilit na..napuwazik na pag hagakhak nimo samtang gauzap ka ana imo tzolet.
Klarex nga pangitaan ka ana ug report..unzay due process nimo nga namilit ang tzolet sa keyboard? agik-ik ko...!

inosente until proven nga inosenteng pahak.  whew, mora mag nihuot akong dughan nga ningkaon.  tigols na gyod.  di na mabangbang, hehe. 

guten nacht una, scarbzy migs.  past 1 a.m. na diri.  (asa kaha tong mga surambaw nga pardners nimo nga si hubs ug bugs?  mga hubog ba kaha tong duha ron?) :)     

Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=32449.0
Republic Act 8485 (Animal Welfare Act of 1998, Philippines), as amended and strengthened by House  Bill 6893 of 2013--- violation means a maximum of P250,000 fine with a corresponding three-year jail term and a minimum of P30,000 fine and six months imprisonment

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Scarb

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Re: Receipts for Donations
« Reply #100 on: October 01, 2010, 01:44:57 AM »
inosente until proven nga inosenteng pahak.  whew, mora mag nihuot akong dughan nga ningkaon.  tigols na gyod.  di na mabangbang, hehe. 

guten nacht una, scarbzy migs.  past 1 a.m. na diri.  (asa kaha tong mga surambaw nga pardners nimo nga si hubs ug bugs?  mga hubog ba kaha tong duha ron?) :)     

Welterusten Spartybabes..! kadtong duha ka tiaw-pakners wla tali mahubog ky hadlok magka hubö².  ;D
 Tua to sila nangoykoy sa giagok-okan nga mga recivoh..hadlok ma audit gali..tua nata-Ohan nija pa  :-X

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Re: Receipts for Donations
« Reply #101 on: October 01, 2010, 02:20:53 AM »

Hey folks, when it come to cases like this, there must be a "black and white protocol" (its an auditing idiom)
- mean.. it should be recorded properly thru "incoming and outgoing" invoices.

-On the part of a Donor whether private or firm,there must be an invoice or receipt testifying the said amount given to a certain org.

-On the part of Charity org. or whatever it is..as a recipient (incoming invoice) is necessary.


Happy Trails to you!!!  ;D  I mean, paper trail is important... to support claims on both/all sides. Anti-thesis sa pamakak ug pataka hehehe...



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Re: Receipts for Donations
« Reply #102 on: October 01, 2010, 02:57:08 AM »
Happy Trails to you!!!  ;D  I mean, paper trail is important... to support claims on both/all sides. Anti-thesis sa pamakak ug pataka hehehe...



Pads, neutral views as to adhere general aspects..the audit trail..nija fah  ;D and honesty is such a lonely word..lalala aw eh schalan..!

Thesis entitled.,"Justice and Equality" to all..what does it means..men§ en§?
   Where do i begin? of korz in HunaZan..(where the source is)tyahaha

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Re: Receipts for Donations
« Reply #103 on: October 01, 2010, 07:51:59 AM »
Pads, neutral views as to adhere general aspects..the audit trail..nija fah  ;D and honesty is such a lonely word..lalala aw eh schalan..!

Thesis entitled.,"Justice and Equality" to all..what does it means..men§ en§?
   Where do i begin? of korz in HunaZan..(where the source is)tyahaha

 ;)

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;)

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Re: Receipts for Donations
« Reply #104 on: October 01, 2010, 09:33:56 AM »
Am just back because I was off from my duty of investigating this.  the practice of receipts should be implemented to have a trial balance of the cash in and cash out.... How could the audit be if it is only signed but no copy for audit and receipts were not issued.  How could the auditor check it out is it only on the outgoing list?????? Try to work it out you are the PRO.  Balingbing ka??? You are the one attacking the BOD as good only for eating sessions///// What about you that is your hobby di ba eating//// Supply your BOD with the incoming cash list and have a countdown as I have  said.  I have just quoted the PROFESSIONAL BEGGARS from a forum member here that is why we were surprise on it and monitored it and investigated the TBN secretary to dig in deeper.... Hello PERSONS TOLERATING ARE USUALLY PERSONS DOING THE WRONG PRACTICE.... IT IS THE USUAL WAY ALL AROUND.  RECEIPTS WILL BE ISSUED FOR COMPLIANCE OF THE BIR documentations.... CLEAR TO YOU ALL..... THANKS SCARB FOR YOUR SHARING ON THE TAXES IMPLEMENTED OUTSIDE THE COUNTRY... HOW COULD THE TAXES B IMPLEMENTED IF THE ISSUANCE OF OFFICIAL RECEIPTS WILL NOT BE PRACTICED BY ALL.....

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Re: Receipts for Donations
« Reply #105 on: October 01, 2010, 09:36:56 AM »
;)

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Re: Receipts for Donations
« Reply #106 on: October 01, 2010, 09:59:31 AM »
Mao na ni giingon nga "problema na na sa BIR."  ;D Or perhaps, COA (Commission on Audit), kung agrabyado man gani sila sa praktis sa TBN. They could ask the big question... TBN? Or, Tinuod Ba Ni?  ;D  ;D



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Re: Receipts for Donations
« Reply #107 on: October 01, 2010, 10:06:53 AM »
COMMISSION ON AUDIT HAS NO TASK OF MONITORING THE FINANCIAL AUDITING OF THE NON-PROFIT NON-STOCK ORGANIZATION FOR YOUR CLARIFICATION.... It is the BIR and SEC concerning receipts and disbursements of these organizations.  Hey fellowmen issuance of receipts is the biggest campaign of BIR.. Please help our government by inquiring official receipts when you give money to anyone else. Even though it might be in kind or in cash..... 

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Re: Receipts for Donations
« Reply #108 on: October 01, 2010, 10:10:14 AM »
Welcome to the organization you  contact the President and the Treasurer so that you will really know how true this is....Ask for receipt when paying your annual dues.... Convince others to join the club so that you will know whether this is true or not....

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Re: Receipts for Donations
« Reply #109 on: October 01, 2010, 10:15:00 AM »
COMMISSION ON AUDIT HAS NO TASK OF MONITORING THE FINANCIAL AUDITING OF THE NON-PROFIT NON-STOCK ORGANIZATION FOR YOUR CLARIFICATION.... It is the BIR and SEC concerning receipts and disbursements of these organizations.  Hey fellowmen issuance of receipts is the biggest campaign of BIR.. Please help our government by inquiring official receipts when you give money to anyone else. Even though it might be in kind or in cash..... 
Im giving money to my mom pangpalit ug sud-an.Next time she ask money from me i will ask for a recibo is that what you mean?
Welcome to the organization you  contact the President and the Treasurer so that you will really know how true this is....Ask for receipt when paying your annual dues.... Convince others to join the club so that you will know whether this is true or not....

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Re: Receipts for Donations
« Reply #110 on: October 01, 2010, 10:19:04 AM »
;)

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Re: Receipts for Donations
« Reply #111 on: October 01, 2010, 10:30:19 AM »
Mao na ni giingon nga "problema na na sa BIR."  ;D Or perhaps, COA (Commission on Audit), kung agrabyado man gani sila sa praktis sa TBN. They could ask the big question... TBN? Or, Tinuod Ba Ni?  ;D  ;D


hahaha sakto ni nga meaning sa TBN(tinuod ba ni). Ang BIR ug COA di man siguro ni sila argabyado kay ug argabyado pa daghan na na preso nga mga negosyante. Tujuon jud diay nila ug Audit ang organization nga ang sole purpose pagtabang sa mga kabus ug hinikawan sa kapalaran.

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Re: Receipts for Donations
« Reply #112 on: October 01, 2010, 10:47:12 AM »
Im giving money to my mom pangpalit ug sud-an.Next time she ask money from me i will ask for a recibo is that what you mean?



 ;D ha ha ha ha ha Gaupo that is what it sounds like that why it sound so ironic....I also like the nice statement regarding the Peter's family and how they are respected in the community and the Catholic community.

I think if TBN program is not doing their job as they should be, they sure have many persons who advertise on that prime spot. They also have the kinibuhay with the Bishop Medroso playing just after TBN program....I do not see the church complain about donation and receipts and what not? In fact church's are also donating to this program to help others who are really in need.

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Re: Receipts for Donations
« Reply #113 on: October 01, 2010, 11:02:24 AM »
If you feel that the money you have given to your mom is subject for auditing of a third party then you let your mom sign that she received it.  It is in a form of voucher for the auditing purposes... Basin diay ug ang sud-an imong gipapalit para sa reunion ninyo and it is contributed by a group of your relatives wherein your relatives might audit you.... or even your wife might audit you where your money goes..  Philosophy sometimes will go back to you.... What is really the purpose of your money given out??? Receipts and disbursements is management of cash.. If you don't know how to manage your cash then chaos might come and go.... Churches are audited.... Yes they are audited for sure..... The Parish Pastoral Council are doing that job....

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Re: Receipts for Donations
« Reply #114 on: October 01, 2010, 11:07:27 AM »
Raquel dili sila mo audit kay ang organization  submits  audited financial statements....  The financial statements will be signed by a Certified Public Accountant.... What shall the accountant tell you is to issue receipts and vouchers for proper accounting procedures... Hello ..... Common sense TBN atong concern which needs to submit audited financial statements to BIR but they have not done it due to negative attitude of the Achorman.... The negative attitude should not be tolerated... That is why there are plenty of tax evaders in our country because we citizens don't dare to cooperate the laws especially on the issuance of receipts....

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Re: Receipts for Donations
« Reply #115 on: October 01, 2010, 11:41:34 AM »
Raquel dili sila mo audit kay ang organization  submits  audited financial statements....  The financial statements will be signed by a Certified Public Accountant.... What shall the accountant tell you is to issue receipts and vouchers for proper accounting procedures... Hello ..... Common sense TBN atong concern which needs to submit audited financial statements to BIR but they have not done it due to negative attitude of the Achorman.... The negative attitude should not be tolerated... That is why there are plenty of tax evaders in our country because we citizens don't dare to cooperate the laws especially on the issuance of receipts....
Do you ask nicely sa person involve ani ang anchorman nga dapat mo submit siya sa audited financial statement?
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Re: Receipts for Donations
« Reply #116 on: October 01, 2010, 11:46:31 AM »
Yes he was informed by the General Assembly because it was even requested by the General Assembly.. Last 2007 and 2008 General Assembly his Alliby was LOST BOOK... The secretary tried to jot down as requested by the General Assembly.  During TBN programs from January to March 2009 it was done but sad to say... the thrill was stop it because you are including the MONEY OF MY DAUGHTER FROM IRELAND in the list... Hello please let us be aware enough what is going on...in this forum....

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Re: Receipts for Donations
« Reply #117 on: October 01, 2010, 01:40:00 PM »
Henares clarifies issuance of receipts
July 27, 2010, 5:56pm

Commissioner Kim S. Jacinto Henares of the Bureau of Internal Revenue (BIR) said on Tuesday her instructions to market vendors and operators of small businesses to issue receipts to their customers does not mean that they will be required later to pay income and business taxes.

The BIR chief issued the clarification to allay fears expressed by small traders that the invoicing requirements are a prelude to the imposition of taxes by the government. She said she is aware of existing laws exempting marginal traders from paying taxes, obviously referring to Revenue Regulations No. 11-2000 signed by then Finance Secretary Jose Pardo and BIR Commissioner Dakila Fonacier.

Henares said she came out with the invoicing directive to monitor earnings of these lowly enterpreneurs, earnings that may grow later that would be subject to taxation. She said it is part of a bigger program of exploring all possible sources of revenues to meet this year's P860-billion collection goal.

“Big and small taxpayers are required by law to pay taxes,” she said. (Jun Ramirez)

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Re: Receipts for Donations
« Reply #118 on: October 01, 2010, 01:58:41 PM »
Accounting Practice for Non-Profit Organizations

Source Documents/ Filing -

Each entry should be backed up with folders of documents supporting each transaction. In addition to receipts, payments should be supported by a payment voucher and any other relevant documentation. Payments and receipts should be filed separately. File these documents in date order, the most recent on top. This filing system should make it easy to find the records for any transaction listed in the cashbook.

Provide Receipts for Donors –

Always give receipts when you receive any kind of donations. It is best to use the carbon copy kind. This allows the donor to claim their contribution on their tax return, as well as provides you with a record of donations.

Explanation of Accounts -

The accounts included in the spreadsheet are:

•   Bank Account – Record deposits, withdrawals, and fees charged
•   Cash – Keep track of all cash transactions
•   Donations – Monetary support received
•   Non-Cash Donations – Estimate the value of clothes, food, etc received
•   Sales – Record goods sold at the selling price
•   Cost of Goods Sold – Keep track of the cost of and profit made on goods purchased for sale. More on this account below.
•   Advertising – Cost of advertising the organization's purpose or an event
•   Bank Fees – Record any fees charged by the bank
•   Charitable Contributions – Record the transaction when funds are transferred to help your cause (i.e. To a specific school, orphanage, charity)
•   Miscellaneous Expenses – One-time expenses not covered under the given accounts
•   Office Supplies – Envelopes, staples, paper to print flyers, etc
•   Postage – Stamps, delivery expenses
•   Printing Expenses – Having material printed for an event, making copies
•   Professional Fees – Hiring a consultant, accountant, web page designer, lawyer, etc
•   Other Income – Any income that isn't a donation or sale, and that doesn't relate to the mission of the organization. For example, if the organization invests in a mutual fund, the profit from the sale of the stock would be listen under Other Income. Also, if the organization's savings account receives interest, it will be recorded under this account.

Keep in mind that you can tailor the spreadsheets to your own activities and needs. If there is a recurring expense that isn't covered under the given accounts, don't hesitate to create a new account (don't forget to assign an account number to it and add it to the income statement). Likewise, feel free to delete any extraneous accounts that you don't use. Just make sure your records are consistent.


Recording Transactions -

Each transaction, be it receiving a donation, selling cards, or paying a bank fee, must be recorded in order to keep accurate business records. Each entry should be recorded in the general ledger. The general ledger is the core of your records, where every financial transaction is accounted for. It may seem confusing at first, but it's easy once you've made a few entries.

There are two main points to understand when using a general ledger. The first is that the information recorded in the general ledger is used to create an income statement, which is an overall picture of efficiency based on income and expenses for a given time period.

The second issue is that you will always create two entries for any given transaction. For example, if you receive a donation of 2,000 yen:

First, record the donation under Donations (100):

06/29/06           Donation             2,000              Received donation from Mr.X

Then, make an entry under the Cash account, since the cash has not yet been deposited into a bank account.

06/29/06           Donation             2,000              Received donation from Mr.X

When you deposit the money into the organization's bank account, you will again make two seperate entries to record the transaction:

Under Bank Account:

07/02/06           Deposit               2,000               Deposited donation

Then, under Cash, subtract the amount of the deposit, since you no longer have the cash on hand:

07/02/06           Deposit             <2,000>            Deposited donation

Try to keep the explanations as detailed as possible. It's fine to lump several donations together in one entry under Donations, as long as you keep a seperate report detailing the individual transactions.

Paying Out of Pocket

If you pay for an expense out of pocket, for example if you purchased a book of carbon copy receipt templates for 400 yen on July 10th, you would first make an entry in the Donation (100) account:

07/10/06   Donation                   400      Purchased receipts out of pocket   

Then, enter the expense under Office Supplies (330):

07/10/06   Receipts             400           Purchased receipts out of pocket

Please see the sample ledger for more examples of recorded transactions.

Cost of Goods Sold

Note: If you are selling cards for Go M.A.D., or any other good you don't have to purchase, ignore the Cost of Goods Sold account! Enter the cash received under the Sales and Cash accounts only.

This may be the most complicated accounting concept you will have to deal with while using this system. If you decide you want to purchase goods, with the intention to sell them at a higher price in order to donate the profit to charity, there are some special entries you will have to record.

First, lets say you purchase 20 greeting cards for 50 yen each, which comes to 1000 yen total cost to you. Record the purchase under Cost of Goods Sold (200):

06/30/06   Purchased Cards   1000      Purchased cards to sell (20 @ 50en/each)

Then, reduce cash, your bank account balance, or increase the donation account (if you paid out of pocket), depending on where the money came from. For example, lets assume you paid using cash you had from donations that you hadn't deposited in the bank yet:

06/30/06   Purchased Cards   1000      Purchased cards to sell (20@ 50en/each)

When you make a sale, you must make 3 entries. Let's say you sold 5 cards for 100 yen each (500 yen received).

First, record the sale in the Sales (101) account:

07/01/06   Sold Cards   500   Sold 5 cards @ 100 yen each

Next, record the cash received in your Cash account:

07/01/06   Sold Cards   500   Sold 5 cards @ 100 yen each

Then, record the reduction of inventory in the Cost of Goods Sold (200) account, using the price you paid, not the selling price:

07/01/06   Sold Cards   250   Sold 5 cards (5 @ 50 yen cost = 250)

Non-cash donations

All non-cash donations, such as food or clothing, should be recorded using their fair market value. Just think of what you would pay for clothes in a second-hand store or how much food costs in the grocery store, and calculate the value of the donation. For example, if you receive a donation of 2 shirts and one pair of pants, a good estimate would be 200 yen for each shirt, and 300 yen for the pair of pants, making for a 700 yen value of the donation. This would be recorded under the Donation (100) account as:

07/17/06   Non-Cash Donation   700    Received 2 shirts (200 yen each) and 1 pair
                                                                       of pants (300 yen)

And then in the Non-Cash Donations account:

07/17/06   Non-Cash Donation   700   Received 2 shirts (200 yen each) and 1 pair
                                                                       of pants (300 yen)
Income statement -

An income statement, otherwise known as a profit and loss statement, is a summary of a company’s profit or loss during any one given period of time, usually over the course of 3 months. You use an income statement to track revenues and expenses so that you can determine the operating performance of your business over a period of time.  Specific items that are causing unexpected expenditures can be pinpointed, such as fees, postage, or supply expenses. Income statements can also track increases or decreases in donations versus money spent on advertising and how much of the donations received makes it into the hands of whoever the organization is trying to help.

Adding Rows to Accounts -

Inevitably, you will need to add rows to the accounts in the general ledger in order to accommodate a higher number of entries than the space provided. The formulas within the spreadsheets automatically calculate the totals of the accounts in the general ledger, as well as column F in the income statement. If you add a row to an account, or add accounts to the income statement, be sure to check that the formulas cover the new perimiter, although the formula should update automatically.

For example, if you click on cell D19 in the general ledger, you will see the formula =SUM(D9:D18) in the white area above the spreadsheet. Now, if you add a row to this account, the cell that displays the total will then be D20, and the formula, when you click on D20, should read =SUM (D9:D19), and will now display the sum of the new range. Update the formula manually if it doesn't update automatically.

Accounting Periods -

You can begin recording entries on any date, as long as you keep consistent time intervals. For example, if you begin recording entries on 06/20/06, you will then create the income statement for the quarter on 9/20/06, or thereabouts.

You should record entries in the general ledger for three months before creating an income statement for the quarter. After the quarterly income statement is finished, do not record any more entries in that quarter's general ledger. Instead, you will need to start a new spreadsheet for the new quarter.

When starting a new ledger, don't forget that the ending balance of Bank Account, Cash, and the Cost of Goods Sold Ending Inventory become the opening balances of those accounts for the next quarter!

Supporter Database -

There is also a spreadsheet dedicated to keeping a record of everyone who has helped support your cause, whether donor or volunteer. This way, you can keep everyone updated on charity events or upcoming projects. But first, be sure they consent to being contacted by your organization.

Tax Exemption Guidelines - 

Even if the organization doesn't file taxes, this information is good to keep in mind:

To be tax-exempt, an organization must be organized and operated exclusively for one or more of the purposes set forth (charitable, religious, educational, scientific, literary, testing for public safety, fostering national or international amateur sports competition, and the prevention of cruelty to children or animals) and none of the earnings of the organization may inure to any private shareholder or individual. In addition, it may not attempt to influence legislation as a substantial part of its activities and it may not participate at all in campaign activity for or against political candidates.

The term charitable is used in its generally accepted legal sense and includes relief of the poor, the distressed, or the underprivileged; advancement of religion; advancement of education or science; erection or maintenance of public buildings, monuments, or works; lessening the burdens of government; lessening of neighborhood tensions; elimination of prejudice and discrimination; defense of human and civil rights secured by law; and combating community deterioration and juvenile delinquency.
JUST SEND ME MESSAGE IF YOU WANT TO BE TAUGHT.... WE CAN GIVE YOU SEMINAR ON THIS .........THANKS



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Re: Receipts for Donations
« Reply #119 on: October 01, 2010, 03:07:40 PM »
Cheers to the wounds the never heals!!! Bitaw oi, kining imong ngan CHEERS kung balihon ug e-rambol unya dugangan ug T sa tumoy kay mora na sag sound sa RECEIPT hahahaha.  RESCHE-T  ;D Peace!!!

 

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