QuestionsQuestions (LTO Memorandum Circular No. AVT-2015-1903)
It adopts a Point of Sales (POS) System of Payment to improve efficiency and effectiveness in the collection of LTO fees and charges, providing convenience and security to LTO clients.
It takes effect fifteen (15) days after its publication.
LTO clients may pay in cash or by debit cards through the POS.
The client must sign a confirmation receipt generated by the POS terminal before an official receipt corresponding to the confirmed amount is issued.
The LTO cashier must fully account for all monies collected, whether in cash or through the POS machine, at the end of each working day.
The AGDB shall remit to the account of the Bureau of the Treasury with the Bangko Sentral ng Pilipinas the Total Daily Collections from each POS machine, including cash and checks deposited by the LTO cashier.
Not later than 10:00 AM on the next banking day from the collection date.
It is stated to be in accordance with Executive Order No. 55, which directs the institution of the Treasury Single Account (TSA).
The AGDB must submit a collection report to the Bureau of the Treasury not later than 2:00 PM on the next banking day from the collection date.
The AGDB report shall be tallied with the Daily Report of Collections prepared by the LTO Cashier.
The amount confirmed by the client on the POS terminal’s confirmation receipt (signed by the client).
To ensure that the official receipt corresponds to the amount confirmed by the client, thereby strengthening accuracy, accountability, and security in collections.
Collections from each POS machine, including cash and checks deposited by the LTO cashier.
The Daily Report of Collections prepared by the LTO Cashier, which is used to tally with the AGDB’s collection report.
ATTY. ALFONSO V. TAN, JR., Assistant Secretary.