5. Collections

      Collection of payments from the agency’s external clients (i.e. suppliers, farmers, etc).

 

RESPONSIBLE UNIT : FINANCE DIVISION  

 

Who may avail:

Dairy Farmers/Entities     

CHECKLIST OF REQUIREMENTS

WHERE TO SECURE

Collection Order (2 copies)

Accounting Unit - Finance Division

Statement of Account (1 copy) / any documents needed to process collection

Regional Loan Officers / Credit Officer IV/ BAC

Official Receipt (triplicate copies)  

Cashier – Finance Division

CLIENT STEPS

AGENCY ACTIONS

FEES TO BE PAID

PROCESSING TIME

PERSON RESPONSIBLE

1. Receipt of Statement of Account for the loan / services / item / transaction availed or any documents needed to process the collection

  1. Provide/send Statement of Account (SOA) to client(s);

 

  1. a. Office rentals/ transactions made by the Central Office/

 

  1. Loan accounts

None

 

 

 

 

30 minutes

*issued at least quarterly or as needed

*process is in Regional Offices

 

 

 

Credit Officer IV Finance Division

 

Regional Loan Officers

Regional Departments

2. Obtain 1 copy of Collection Order issued by the Accounting Unit.

  1. Advise the client to secure Collection Order from Accounting unit of Finance Division one copy of it will be retained to the accounting unit.
    1. Verify documents presented for payment and issue Collection Order

None

 

15 minutes

 

 

Cashier & Accounting Staff

Finance Division

  1. Proceed to the Cashier window to give the following:

 

-Accomplished Collection Order 

–Cash or check payment

 

3. Receive payment and Collection Order from client

None

5 minutes

Cashier

Finance Division

4. Receipt of Official Receipt

  1. For cash payment, immediately issue white copy of Official Receipt
  2. For check payment, give the accomplished collection order and advise client to pick-up Official Receipt after check clearing. Just present and give the original copy of the accomplished Collection Order at the time of payment.

None

30 minutes

Cashier

Finance Division

 

TOTAL

None

50 minutes

*30minutes for issuance of SOA is excluded since the process is Collection)

 

 

 

 

 

 

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