SUBIC BAY

SUBIC BAY

METROPOLITAN AUTHORITY

SUBIC BAY METROPOLITAN AUTHORITY
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SBMA - Electronic Billing and Payment System

Departments > Accounting Department

Rm. 214, Bldg. 229, Waterfront Road, Subic Bay Freeport Zone

Tel. No.: +6347.252.4045 / 4419 / 4016 / 4017 / 4018 / 4364 / 4606
Fax No.: +6347.252.4667

Emilia S. Canonizado

Emilia S. Canonizado

Department Head

About Us

The Accounting Department generates timely, meaningful, and accurate financial reports in accordance with International Financial Reporting Standards; maintains the integrity of financial records; ensures propriety of claims for payment; processes valid claims expeditiously; and maximizes SBMA revenues through an effective billing system.

Our Vision

The Accounting Department financial reports and records shall be at par with world standards in terms of reliability and integrity. There shall be no delays and errors in the processing of claims and billings.

Our Functions and Core Services

  • Billings

    • Bills all Locators and Housing Residents for rental and utility charges
    • Records all billings in the Journal of Accounts Receivable
  • Payables & Payments

    • Processes the payment of fully documented billings and claims from suppliers of goods and services, maintenance contractors, customers, and employee's cash advance for local travel; and ensures liquidation thereof
    • Processes for the payment of consultancy fees and employee's cash advance for foreign travel, and initiates action for the pre-audit of the cash advance and its liquidation thereof
  • Payroll

    • Processes the payment of compensation of regular and contractual employees, monetization of leave credits, and final pay
    • Records all accrued expenses and corresponding payments /disbursements made by the Treasury Department in the Journal of Accounts Payable
  • Collections and Deposits

    • Reports of collections and deposits received from the Treasury Department on a daily basis for recording in the Journal of Collections and Deposits
  • Financial Statements and Reports Preparation

    • Summarizes all accounting transactions recorded in all Journals
    • Prepares monthly financial statements and reports

Divisions

  • Billing Division I - Locators and Investors

    Tel. No.: +6347.252.4654

    • Ensures that monthly billings are delivered to all Subic Bay Freeport Enterprises (SBFE) on or before the 15th day of the month
    • Issues Statements of Account to SBFEs for the payment of their outstanding accounts
    • Ensures that advance payments /amortization of deferred credits are applied to SBFEs' monthly billings

  • Billing Division II - Housing

    Tel. No.: +6347.252.4016 / 4419

    • Ensures that monthly billings are delivered to all Housing Residents (HRs) on or before the 15th day of the month
    • Issues Statements of Account to the HRs for the payment of their outstanding accounts
    • Records all collections in the Journal of Collection
    • Ensures that advance payments /amortization of deferred credits are applied to the HRs' monthly billings

  • Payable Division

    Tel. No.: +6347.252.4018

    • Prepares Accounts Payable Vouchers to record accrual of expenses, pre-payments and amounts to be paid
    • Ensures that all taxes withheld from concerned payees are processed for remittance to the Bureau of Internal Revenue on or before the 10th day of the following month
    • Ensures that the corresponding creditable withholding tax certificates are issued to various payees on or before the 25th day after the end of each quarter

  • Cost Accounting Division

    Tel. No.: +6347.252.4017 / 4606

    • Ensures that the payrolls of regular plantilla and contract of services employees, which have been processed for payment, are transmitted to the Treasury Department on or before the 7th day and 13th day of the month, respectively
    • Ensures that taxes withheld on compensation are remitted to the BIR on or before the 10th day of the following month
    • Ensures that at the end of the year, amount of taxes due is equal to amount of taxes withheld on compensation
    • Ensures that all issuances of inventories from stock are recorded, and maintains and updates the inventory record

  • General Accounting Division

    Tel. No.: +6347.252.4017 / 4606

    • Ensures that foreign and local loan repayments are processed on time and that the Treasury Department is able to pay lenders on or before the deadline set forth by the latter
    • Records all transactions not recorded in the aforementioned Journals such as adjustments, revaluation of foreign-denominated transactions, depreciation of fixed assets, allowance for doubtful accounts and all other transactions in the Journal of General Ledger
    • Performs bank reconciliation and prepares Bank Reconciliation Statements
    • Records all deposits of collections in the Journal of Deposits
    • Summarizes all books of accounts and prepares financial statements and reports
    • Complies with the submission of SBMA Books of Accounts, financial statements and reports to the Commission on Audit on or before the 20th day of the following month
    • Maintains and updates the agency's fixed asset record

Subic Bay Metropolitan Authority. All Rights Reserved. Bldg. 229 Waterfront Road, Subic Bay Freeport Zone, Philippines.

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