presidentsoffice@vma.edu.ph 034 444 2565, 034 444 1092, 034 444 1755-56




Accounting Office

WELCOME TO THE ACCOUNTING OFFICE

General Objectives

  1. Provision of financial data for immediate need of top management and for the requirement of government units.
  2. Financial data should be recorded and presented in accordance with Generally Accepted Accounting Principles.
  3. Safeguarding of all financial records of past financial transactions
  4. Process all financial transactions according to accounting procedures stated in the Accounting Manual with the approval of the top management.
  5. Abide with the General Institution Quality Policy.

Organizational Structure

Payment Methods


Policies


  • STUDENT ASSESSMENT AND CHARGES
    • All duly approved Tuition and miscellaneous fees are to be properly charged and monitored in every student.
    • Any payment in excess as requested by the student will be refunded unless otherwise carried or forwarded in the next semester or school year if not claimed by the student.
    • All other charges outside tuition and miscellaneous fees that are to be billed or charge to student should be duly approved by the authorize or Approving Officer.
    • No examination permits will be issued unless otherwise payment scheme or procedures on promissory notes are meet.
    • No student records will be released without final and full settlement of student’s accounts.
  • DISCOUNT ON FULL PAYMENT OF TUITION FEES
    To encourage prompt payment to the sponsoring companies, parents and scholarships foundations and other related sponsors. VMA Global College has given the discount to their tuition fee in the following criteria (see Student Manual):

    1. VMA Global College will give 10% discount on total tuition fee in the semester they enroll (official start of enrolment until the last day)
    2. The school will give 5% discount on total tuition fee in the semester they enroll within the week after classes has started.
  • STUDENT REFUND AND WITHDRAWAL

    1. Tuition & Miscellaneous:
    Requests for refunds will only be granted to students with excess payment on tuition & miscellaneous fees at the end of semester less 10% charges for processing fee.
    2. Withdrawal of enrollment from the school Students withdraw his/her enrollment from the school will be refunded based on the following conditions:
         • Ninety percent (90%) of the amount paid when a student withdraws within the first week of official classes.
         • Eighty percent (80%) if he/she withdraws within the second of the official classes.
         • No refund of fees will be made after the second week of official classes. The student will be charged all the school fees in full if he/she withdraws after the second week of classes.( not applicable for unofficially enrolled)
         • School manual, identification cards and printed registration form issued prior to withdrawal will be charged to the student and will be deducted to the refunded amount.
         • Counting number of weeks will be based on the declared start of the class for the said school year of the Deans Department.
  • HANDLING OF STUDENT’S CHANGING AND DROPPING

         • Changing and dropping of subjects must be done in accordance with the Registrar’s office schedule.
         • Changing and dropping of the subjects beyond the schedule must be approved by the registrar’s office before it is forwarded to the accounting department.
         • The student will fill-up the changing/dropping of subjects form from the Registrar’s office. It should be approved by the Deans’ office, MIS, and Registrar before it is forwarded to accounting office for charging.
  • CHECK PAYMENT

    In general, no personal check is accepted for payment except with BOT and officer approval.
    Handling check payment:
    1. All check payment shall be in the name of VMA GLOBAL COLLEGE AND TRAINING CENTER, INC.
    2. Issued check should be on dated check
    3. Information of the student shall be indicated at the back portion of the check (name, address and contact number)
    4. Cashier to issue an Official Receipt.
    Handling Bounced Check:
    1. Upon receipt of bounced check from the bank, Cashier determines as to the data/information of the paying student.
    2. Cashier to call the attention of the student and request have his/her account settled within three (3) days with 10% charge based on the amount of the check.
    3. Failure to settle within three (3) days will then be included on his/her next payment due plus 20% charge based on the amount of check. He/she then cannot subsequently pay or settled his/her account thru check payment,
Contact Information