APRIL 01, 2016 (DAY 1)

Trained by the head accountant of PICPA MMR to know how to use Quickbooks which
is their primary accounting software designed to manage payroll, recording receipts,
checks, sales and other needs of the business.
TASKS:
1. Absorbing the nature and scope of PICPA explained by the head accountant.
2. Practicing myself to familiarize the Quickbooks including the terminologies,
accounts and steps on how to input balances trained by the head accountant.
3. Started to input entries for every transaction receipts provided by the
company.
ESTIMATED TIME SPENT
1. 8:00 AM 9:00 AM (1 HOUR)
2. 9:00 AM 12:NN (3 HOURS)
3. 1:00 PM TO 5 PM (4 HOURS)
CLASSIFICATION:
1. PLANNING
2. CONTROLLING
SIGNIFICANT LEARNING
1. I learned that PICPA (Philippine institute of CPAs) serves all members in the
different sectors of the accounting profession, namely public practice,
education, government and commerce and industry.
2. I also absorbed that this organization provides year-round professional
development programs including the seminars, technical sessions,
symposium, and dialogues.
3. In using of Quickbooks, I already familiarize with the account titles and
terminologies even the process of the said software.
4. In recording sales receipts, I learned the proper entries to be encode for
specific transaction or event in the NMMC (Northern Metro Manila Chapter).
For instance, to record a membership fee from a specific chapter, you need to
input entries like Membership Dues , Due to PICPA MMR, due to PICPA
GAO and due to PICPA National.

APRIL 02, 2016 DAY 2

A day for the continuation of recording the receipts of NMMC in the month of March ,
and started to switch to another chapter SMMC (Southern Metro Manila Chapter) in
the month March too with estimated hundreds of receipts.
Tasks:
1. Identifying on what entries to be used for the Southern Metro Manila Chapter
transactions.
2. Filing the receipts on what kind of chapter or Customer Job it is.
3. Encoding the names, date, OR number and kinds of payment in Quickbooks in
order to make Official receipts.
4. Depositing the Official Receipts recorded to the specific report for checking
the balances.
ESTIMATED TIME SPENT:
1. 8:00 AM 10:30 AM (2 HRS & 30 MINS.)
2. 10:30 AM 5:00 PM ( 5 HRS & 30 MINS.)
CLASSIFICATION:
1. CONTROLLING
2. FILING
SIGNIFICANT LEARNING
1. I discover that PICPA is a registered non-stock corporation with Geographical
divisions, regions and chapters all over the country.
2. In recording the SMMC transactions, I grasped on what kind of entries to be
used especially the seminars and CPD Packages acquired by the CPAs for
their CPE program. For example, the entries for seminar transactions are
Seminar Dues , Output Vat , and creditable withholding tax with specific
descriptions and amounts.
3. I well informed on how to segregate the chapters to each other, because
every chapters have their own separate accounts in quickbooks.
4. Already know how to deposit the transactions in specific reports for checking
the amounts and entries. But before to deposit, it should be surely that the
all amount encoded are balanced with the summarize payments gathered.