Short Notes on Accounts – I
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Monthly Balance
Verification of cash balance of the Non-Banking Dist. Treasury is made by the Collector on the last day of the month. If he is absent from the Headquarter or unable to do it, the same may be made by a responsible officer. Similar procedure may be made in case of the Non-Banking Sub-Treasury by the Local Officer. At present all the Treasuries are Banking Treasuries in West Bengal.Combined Transfer Ledger and Abstract
It means transfer from one head to another head of account. All the transfer entries relating to month are made through this accounts. The debits and credits are to be made under each head of account. The total of debits and credits will be equal. The result of the same will be reflected in the Departmental Classified Abstracts of Detail Book.Currency Chest
Currency Chests are maintained at the Treasury and Sub-Treasury to prevent unnecessary locking of funds in Treasury balance and transfer of funds between Treasuries and Sub-Treasuries.Monthly Accounts
State Govt’s Accounts are maintained by the Accountant General. As such State Treasuries submit monthly account i.e. (i) List Payment, (ii) Cash account to the concerned A. G. with vouchers and schedules etc.Resource
Resource means (a) Coins and Notes, i.e. legal tender (Rupees two and upward) issued by the RBI. (b) Taxes collected by the State or Union are considered financial resources of the State and the Union.Settlement of Account
Receipts/Payments of other State, Defence, Railways etc. are initially made out of the State Fund from the Treasury which are adjustable in the books of other Govt. Adjustment of such transaction is called Settlement account. Settlement between the parties are made through the R.B.I or Cash. This transactions are recorded first in Adjustment Register then posted in Settlement Accounts Abstract.Banking Treasury
Cash business of treasury in respect of Receipts and Payments are made by the bank is called Banking Treasury.Non-Banking Treasury
Cash business in respect of Receipts and Payments made by the Treasury is called Non-banking Treasury.Cash Account and List of Payments
Treasury submits monthly accounts to the Accountant General at the end of the month as under :
(a) Cash accounts relates receipts statements along with top schedule showing classification, Major, Sub-Major and Minor head.
(b) List of Payments (Major head-wise expenditure).Resource Operation
(a) Banking Treasury
(i) Resource operation of the Union/the State Govt, is made by the R. B. I.
(ii) Cash Balance of each Govt, is always sufficient with the R. B. I.
(iii) The R. B. I. will see that the cash balance of the bank are always sufficient to meet the local demands.
(iv) It is the duty of the R. B. I. to keep the cash balance in sufficient amount to those paying bank by remittance.
(b) Non-Banking Treasury
It is the duty of the Govt, to see the cash balance of the Treasury of Sub-Treasury/Paying centre is always sufficient to meet the local demands where the R. B. I. is not conducting the said work.
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