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Welcome to Accounting & Financing in PO

Welcome to Accounting & Financing in PO. Accounting network of the post offices. PPT7.1. 2. Sub Account:. ACCOUNTING NETWORK. SO. SO. SO. SO. PAO. BO. BO. Receipt and opening of BO Bag at AO. Mail PA receives bags from various sources Hands over BO bag to treasurer

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Welcome to Accounting & Financing in PO

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  1. Welcome to Accounting & Financing in PO

  2. Accounting network of the post offices PPT7.1.2

  3. Sub Account:

  4. ACCOUNTING NETWORK SO SO SO SO PAO BO BO

  5. Receipt and opening of BO Bag at AO • Mail PA receives bags from various sources • Hands over BO bag to treasurer • Treasurer examines the condition, opens it in the presence of Sub Account PA • Gives acquittance for cash bag in BO daily account • Returns all documents to Sub account PA Rule No 68 & 69 of PO Manual Volume VI Part-III

  6. Receipt and opening of BO Bag at AO • Sub Account PA to: - Examine if all the documents are correctly received - Distributes the contents to respective branches. Rule No 68 & 69 of PO Manual Volume VI Part-III

  7. Distribution of contents Description of articles • Unpaid station article, if any • Paid station articles • Other unregd.articles • Regd.and VP articles Handed over to- • SPM • Delivery PA • Sorting PA • Registration PA Rule No 68 & 69 of PO Manual Volume VI Part-III

  8. Distribution of contents • Parcel and VP parcel • MO s booked(for re-booking) • MO s paid vouchers • Parcel PA • MO issue PA • MO Paid PA Rule No 68 & 69 of PO Manual Volume VI Part-III

  9. Distribution of contents • SB/RD/TD vouchers and documents • Acquittance rolls • BO daily account • SBPA • SPM • Retained by SAC PA Rule No 68 & 69 of PO Manual Volume VI Part-III

  10. Checking of BO Daily A/C • Should ensure that— • Cash from BO acknowledged by treasurer • Cash remitted to BO taken into account • Date stamp impression • Opening balance is correct • The account tallies with documents such as MO issue, MO paid, SB deposit etc. • Details of closing balance agrees with account • Cash and stamps retained within the limits • Signature of BPM Rule No 68 of PO Manual Volume VI Part-III

  11. Exercise.1 (checking of BO daily a/c)

  12. BO SUMMARY • A consolidation of BO daily account at AO • Maintained by AO, having BOs • One line for each BO • Transactions posted - Opening balance - Receipts - Total of Receipts - Payments - Total of payments - Closing balance - Transit Rule No 73 & 74 of PO Manual Volume VI Part-III

  13. Exercise.2 (Preparation of BO summary)

  14. Rebooking of Branch office money order PPT 7.5.14 • All money orders booked at Branch Office are sent to account office. • MO Issue PA collect the MO forms from sub account PA and rebooks them with following additional entry. • Branch office receipt number • Name of Branch office • MO receipts are given to sub account PA for onward transmission to Branch Office Rule No 16 of PO Manual Volume VI Part-II

  15. Index to Branch Office receipt (MS-87(a) ) PPT 7.5.15 Maintained by Account Office. Whenever Branch Office receipt is used by Branch Office it is noted against the name of Branch Office under corresponding date It is maintained in prescribed format month wise. Account Office to watch continuity of receipts used by Branch Office. Rule No 71 of PO Manual Volume VI Part-III

  16. Index to Branch Office receipt (MS-87(a) ) PPT 7.5.16 Particulars of receipt books supplied to Branch Office should be noted against the name of Branch Office under corresponding date Similarly, Index to Branch Office receipt is to be maintained for other type of receipt books used by Branch Post Master. Viz.SB26,NC4(a),TRC,RPLI,SB28 etc. Rule No 71 of PO Manual Volume VI Part-III

  17. Leather cash bag Cloth cash bag Type of cash bags

  18. Procedure for closing Cash Bag • Sub Account PA gets the orders of SPM for remittance on BO Daily account • Sub Account PA Shows the orders to Treasurer and gets his signature on the BODA at appropriate column • Treasurer closes cash bag • Sub Account PA watches cash remittance Rule No 18 of PO Manual Volume VI Part-III

  19. Procedure for closing Cash Bag… • Enters remittance particulars in BO slip • Sub Account PA weighs cash bag and enters weight on cash bag label and BO slip • Treasurer watches and attests Rule No 18 of PO Manual Volume VI Part-III

  20. Procedure for closing Cash Bag… • Treasurer keeps cash bag inside BO bag • Sub Account PA closes BO bag • Treasurer watches – keeps BO bag till dispatch Rule No 18 of PO Manual Volume VI Part-III

  21. PREPARING BO SLIP • Write closing balance of previous days BO balance w.r.t BO summary. • Advice remittance, if any; - Cash - Stamps Rule No 27 & 63of PO Manual Volume VI Part-III

  22. PREPARING BO SLIP • Instructions, to the BPM of irregularities if any. • Enter postage due articles sent to BO • Particulars of other accountable articles- MOs RLs, RPs, SB documents etc. • Treasurer to initial remittance entries • SAPA to sign and date stamp Rule No 27 & 63of PO Manual Volume VI Part-III

  23. Exercise 3 (Preparation of BO slip)

  24. Preparation of Sub Office Daily Account PPT 7.7.25 Rule No:29 of Postal manual Volume : VI Part -II As per list & vouchers of various branches SPM prepares SO Account SO Daily account is prepared w.r.t SO Account by SPM Previous day’s closing balance is taken as opening balance for the day Receipts & Payments taken as per Sub Office Account

  25. Preparation of Sub Office Daily Account PPT 7.7.26 Rule No:29 of Postal manual Volume : VI Part -II Closing balance written in words & figures Details of closing balance, particulars of authorized balances & liabilities noted Reason for retention of excess cash should be noted Reason for cash below minimum & for excess stamps should be noted Particulars of cash and stamp remittances received & made should be noted

  26. Preparation of Sub Office Daily Account Rule No:29 of Postal manual Volume : VI Part -II Particulars of document sent should be noted on reverse side Requirement of Stamps, Cash noted in the remark column Signed by joint custodian and SPM Impressed with Name stamp & date stamp

  27. Prepared & enclosed to the SO Daily when BO’s are attached The balances held in BO’s form part of the balance of SO’s In the column for ‘details of balances’ of the SO daily account this is shown against the item ‘amount due from BO’s Preparation of Annexure ‘A’ to SO Daily account

  28. Amount due from BO’s represent actual balances held in BO’s, the remittances in ‘transit’ and advance remittance Since amount due from BO’s is shown in the details of balances, the break-up of figures, namely actual balances in BO’s and the remittances in transit are also shown by the SPM in a separate ‘Annexure A’ attached to SODA Preparation of Annexure ‘A’ to SO Daily account

  29. Exercise 4 (Preparation of SO daily a/c)

  30. Excess Cash Balance Memo (E C B)

  31. Excess Cash Balance Memo • Whenever Cash balance is kept in excess of authorized minimum cash balance SPMs have to note amount of liabilities in their Daily account • Whenever Cash balance is kept in excess of authorized maximum cash balance in addition to above action SPMs to prepare ECB in PA-20 and submit to HO

  32. Excess Cash Balance Memo… • SPMs of status LSG and above need not prepare this ECB memo • This is one of the preventive measures to avoid commission of frauds in Sub Offices and BOs • ECB contains two parts 1. ECB for Sub Office 2. ECB for Branch Offices

  33. ECB for Sub Office • Whenever SO Cash balance is kept in excess of authorized maximum cash balance SPMs to prepare ECB • It contains following information • Authorized Cash balances • Cash balance held on that particular day • Excess cash held • Explanation for excess retention of cash

  34. ECB for Sub Office… • SPM to furnish details of MO, Savings Bank/ Savings Certificates, Acquittance rolls by referring basic records of office • The particulars of late collections, late receipt of remittance from other offices to be furnished • Any other reason for excess retention of cash

  35. ECB for Sub Office…. • ECB memo should be given monthly serial number and signed and stamped

  36. Exercise (Prepare ECB for SO for D/A prepared by you)

  37. ECB for Branch Offices • Whenever total of CBs of all BOs is more than authorized BO aggregate balances ECB for Branch Offices to be prepared • SPM to furnish explanation for retention of excess cash by each BOs

  38. ECB for Sub Office… • SPM to furnish Cash held, amount of liability of those BOs which are responsible for excess retention of cash w.r.t BO daily account and mention his remarks of justification or otherwise • SPM to sign the ECB

  39. Exercise- Prepare BOECB for SO D/A prepared by you.

  40. Action on ECB • A watch should be kept at HO whether ECBs are being prepared by SPMs wherever justified • Whether ECBs are properly serial numbered • HPM to check SO ECB memo w.r.t basic records of HO maintained in respective branches and pass his remarks whether explanation is satisfactory or otherwise

  41. Action on ECB…. • HPM to check BO ECB w.r.t BO daily accounts and satisfy himself that remarks of SPM against each BO is justified or other wise. HPM to pass his remarks and sign. • All ECBs are stitched in a bundle stamped and submitted to Divisional Office on following day.

  42. Action on ECB…. • In DO ECB is scrutinized by Divisional Supdt. Or Asst.Supdt daily and pass his remarks as to whether it should be got enquired through concerned sub divisional IPs • ECB is finally filed at Divisional Office.

  43. Other important documents and records maintained at HO • SO Summary • Treasurer cash book • HO Summary • HO Cash book & PM’s Balance sheet • Monthly cash account

  44. SO Summary • SO Summary is maintained by HO Sub Account PA on par with BO summary that we have discussed already in two parts viz, • Part I • Part II • SAPA prepares SO slip to dispatch to SOs

  45. Preparation of SO Slip (PA-3) • Sub Account PA in HO prepares SO slip - Enters all documents - Enters closing balance - Includes all contents • Sub Account PA shows to treasurer, the orders of PM for remittance • Treasurer closes cash bag as discussed earlier • Sub Account PA closes account bag Rule No 18 of PO Manual Volume VI Part-III

  46. TREASURER’S CASH BOOK- FORM ACG 2 • Shows entry of cash, stamps and cheques • Maintained in the treasury • Treasurer should make all entries • Make entries as and when transactions occur • Number transactions serially

  47. TREASURER’S CASH BOOK- FORM ACG 2 • Entry of book transfers not to be made • Enter the name and designation of the official with the amount • Obtain acquittance both in words and figures when money is paid • All payment is to be authorized by the HPM/Supervisor

  48. TREASURER’S CASH BOOK- FORM ACG 2 • Hand over cash to official directly and not through any third person • Both the side of TCB totaled for the day and balanced • Closing balance be written in words • Book should be signed by treasurer and HPM

  49. TREASURER’S CASH BOOK- FORM ACG 2 • Closing balance should agree with the total “particulars of closing balance” of HO summary • Draw a line below the closing entries of each day

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