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FUNCTION OF SBCO - PROCESS ORIENTED

FUNCTION OF SBCO - PROCESS ORIENTED. RD. REGISTER OF OFFICE-WISE BALANCES (SB-85). (a) The register will be maintained in the form SB-85. The postings in the register will be made from the following lists and registers. (i) List of transactions.

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FUNCTION OF SBCO - PROCESS ORIENTED

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  1. FUNCTION OF SBCO- PROCESS ORIENTED RD

  2. REGISTER OF OFFICE-WISE BALANCES (SB-85) • (a) The register will be maintained in the form SB-85. • The postings in the register will be made from the following lists and registers. • (i) List of transactions. • (ii) Register of non cash transactions SB-85(a). • (b) After posting the entries in the register SB-85 from the list of transactions the official should put his dated signature in the lists of transactions • (Part I and III).

  3. WORKING OUT THE TOTAL RD BALANCE OF THE HEAD OFFICE AS A WHOLE • The consolidation of transactions of all offices will be prepared in SB-85 register at the end of the month • (ii) The balance of the HO as a whole (including that of sub offices) will then be worked out from the consolidated journal of RD deposits and withdrawals (SB-86) and register SB-85( a)

  4. WORKING OUT THE TOTAL RD BALANCE OF THE HEAD OFFICE AS A WHOLE • (a) Opening balance. • (b) Add monthly totals of columns 8 and 13 of consolidated journal and column 12 (credit side - total credits) of SB-85 (a) register. • (c) Total of items (a) and (b). • (d) Deduct monthly totals of column 12 of consolidated journal and column 10 ( debit side-total debits) ofSB-85( a) register. • (e) Closing balance item (c) - item (d).

  5. Contd ….. • (iii) This closing balance should agree with the closing balance as worked out in the summary in the register SB-85. • The following certificate will be recorded by the Supervisor under his dated signature below the closing balance thus worked out and agreed: • " Closing balance as shown above has been checked and agreed with closing balance worked out in the SB-85 register“ • For the month of March, the SB-85 register should comprise of transactions at a sub office upto 31st March.

  6. General check of vouchers and checking of vouchers • (i)All the transactions of withdrawals, closures, refund of interest, interest recovered on defaulted installments or on withdrawals repaid and rebate paid on advance deposits will be checked by the P.A. • He will check that the rebate was not paid previously, and that it has been paid within a period of one year from the date of advance deposit • In case of transactions having no vouchers, he will initial in remarks column of the list of transactions against the concerned entry. • He will also maintain a register showing the particulars of all vouchers/ transactions checked. • 4% transactions will be checked by the P.A. (SBCO). • (ii) All premature closures of accounts will be checked by P.A. (SBCO). The Supervisor will check 20% of such accounts. 

  7. VERIFICATION OF BALANCES • Periodical agreement of balances (from 1.1.2004) • Verification of balances of SORD accounts will be done once in six months. • SOs will prepare six monthly lists of balances on honorarium basis as on the fixed dates intimated by HO. • Lists are to be submitted to SBCO before 10th of the month. • SOs will prepare list and copy of list will also be sent to SBCO.

  8. VERIFICATION OF BALANCES • SBCO will verify the balances shown in the lists with SB-85 generated by the system. • The balances of the accounts will be verified once in six months. • The first round will cover the period from January to June and the second round from July to December. • The listing will be done for the balances as on 30th June and 31st December each year. • The agreement work should be completed by 30th September and 31st March for the 1st and 2nd round respectively. 

  9. VERIFICATION OF LEDGER BALANCES OF SUB OFFICES ACCOUNTS • The verification of RD balances of sub offices accounts will be done once in six months. • The verification will be spread over in six month duration and the following procedure will be followed:-  • The balances of sub post offices are to be carried out once in every six months, but the dates as on which the balances will be agreed to be spread over four months equally depending upon number of accounts, as on 31st January, 28/29th February, 30th April and 31st May in the first round and 31st July, 31st August, 31st October and 30th November in the second round. • The sub office will prepare six monthly lists of balances as on the dates fixed for the agreement and intimated by the Head office. • The sub office has to submit the list of balances to SBCO before 19th of the month following the due month of agreement

  10. On receipt of list of balances from the sub office, the SBCO will take action to verify the balances and complete the verification by the end of the month. • The SBCOs of both computerized and non-computerized offices will check the balances of accounts with reference to previous lists of agreed balances for having no change in balances and ticked.  • The verification of balances as detailed above has to be completed before the end of the month following the month as on which the agreement is to be conducted.

  11. PROFORMA • Due date of Offices to be agreed No of Total no of accounts • Agreement Sl Name of the account to be agreed during • No office the month • 31st January • 31st July • 28th February • 31st August • 30th April • 31st October • 31st May • 30th November • 30th June Head Post Office • 31st December • GRAND TOTAL

  12. The AO, ICO [SB] will return the list of offices to be agreed every month duly approved. • A copy of the approved list will also be sent to the concerned Divisional Superintendent for information. • During the annual inspection of the Head Office, the AO, ICO [SB] will check and confirm whether the verification of balances of sub offices is being carried out as per the approved list.

  13. ANNUAL LISTING OF BALANCES • (i) The listing of balances as on 31st December will be done in duplicate in the month of January each year showing all the account numbers as in the case of SB interest statement. • The duplicate copy of the lists of balances will be sent to the A.O. ICO(SB) immediately after it is prepared as in the case of SB interest statement. • After agreement work is over, these lists will be obtained by the Incharge SBCO from the A.O. ICO(SB) for incorporation of corrections, if any, and then returned to the A.O. ICO(SB) within a week for safe custody in his office to serve as duplicate record for use as and when necessity arises. • The transmission of these lists will be by registered post at all stages.

  14. LISTING OF BALANCES contd…. • (ii) In order to watch the progress of the completion of the work a fortnightly statement in the prescribed form will be sent by the SBCO to the A.O. ICO (SB) from 15th January onwards till the work is completed. • The Accounts Officer will consolidate the statements of the SBCOs under his control in duplicate and send one copy to his Circle Office for information. • The statement will be continued to be submitted by the AO till the work is completed in all the Head Offices. • (iii) These lists will be preserved by the C.O. and A.O. ICO for 3 years like S.B. interest statement after agreement is over.

  15. STATISTICAL REGISTER • (1) The Control Organization will maintain statistical register in the form SB-89 for RD accounts. • The posting in this register will be made for the Head Office as a whole at the end of each month from the following records; • (i) Consolidated Journal of RD deposits and withdrawals • (ii) SB-85(a) register. • (iii) Local transfer journals. • (iv) Home and foreign transfer journals. • (2 ) A copy of the statistical register will be sent to the Postal Accounts Office by the 10th of the following month. • The Supervisor will record the following certificate under his dated signature on the copy. • "Checked and agreed with the cash account and register SB-85(a)"

  16. SUBMISSION OF RETURNS • The Control Organization will submit the following documents to the office noted against each by the due dates duly entered in the SB voucher list. Sl. Particular of return Office to which due Due date 1. Copy of the RD Post Accounts By the 10th of the statistical register Office following month 2. Home Debit/Credit Circle Pairing By 7th of the transfer journals along Unit following month with Ats 3. Foreign Debit/Credit Central Pairing By 7th of the transfer journals along Office following month. With ATs

  17. THANK YOU

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