Accounting Services Department

Debit/Credit Memorandum(DMCM)

It is important that the student ledger account balances are always updated. It is the policy of the school to have transaction affecting student accounts to be recorded immediately and accurately. Any adjustments in the account balances of the students for some reasons are posted or recorded through the Debit/Credit memorandum.

  • Any adjustment as a result of post enrollment audit is to be posted immediately to the student's account by the Accountant.
  • Request for charging additional fees to the students after the enrollment period is to be approved by the VP for Finance or his designee. This will be encoded, checked and posted immediately in the DMCM tab of the Assessment and Billing Module.
  • The Accountant, to ensure accuracy of the students' accountabilities for the term, is required to recheck and reconcile the printed Official Enrollment Forms and Adjustment Forms against the individual student ledgers and makes the necessary adjustments thereof.

Date Updated: February 25, 2021