Inventory Management and Valuation

This account is used to track the cost of merchandise and other items that have been purchased or produced for the purpose of being sold. It includes things like drugs, medicines, and finished products made by the barangay.

This account is for recording the cost of goods intended for distribution to people affected by disasters, calamities, or conflicts.

This account tracks the cost of drugs and medicines specifically purchased for distribution.

Captures the cost of any acquired inventories that don't fit into the other specific inventory accounts for distribution.

This account tracks the cost of basic supplies used in daily operations, such as paper, ink, and office tools.

This account is used to record the cost of forms that are carefully tracked, like receipts, tickets, and license plates.

This account tracks the cost of materials purchased to build, repair, or maintain government facilities.

This account handles the cost of any supplies or materials that don't fit into the other specific inventory accounts.

This account keeps track of payments made in advance to companies that will do construction work for the government.

This account is for recording prepayments that don't fit into other specific prepayment accounts. It's credited when the prepayment is used.

This account is for recording the cost of land held for earning rentals or capital appreciation. It's credited when the land is sold or reclassified as property, plant, and equipment.

This account is used to track any losses in the future economic benefits or service potential of investment property. It's debited when the investment property is sold or when the impairment loss is reversed.

This account records the cost of buildings held for earning rentals or capital appreciation. It's credited when the building is sold or reclassified as property, plant, and equipment.

This account tracks the accumulated depreciation of buildings held as investment properties. It reflects the decrease in value over time due to wear and tear.

This account keeps track of the cost of a building that the barangay owns and keeps for investment purposes. The cost is lowered each year according to a set plan for depreciation.

This account shows the total amount that has been deducted from the value of an investment property over time, mainly due to wear and tear.

This account keeps track of the cost of any repairs or improvements made to an investment property. This helps track how much the barangay has spent on keeping the investment building in good shape.

This account records any losses in the future value of an investment property, beyond the normal depreciation. This happens when the building is worth less than expected.

This account is used to record the cost of buildings held for use in the barangay's operations, like a government office building. It's separate from buildings held for investment purposes.