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Traffic Accounts-Its Importance

Traffic Accounts-Its Importance. Role of Railways. Transportation Business- Service Sector Different from other Service Sectors. Dual Role Commercial- Profit motive Social Obligation. Features. IR single largest National Carrier. Moves 18 mn. Pass. 2 mn. tonnes daily.

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Traffic Accounts-Its Importance

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  1. Traffic Accounts-Its Importance

  2. Role of Railways • Transportation Business- Service Sector • Different from other Service Sectors. • Dual Role Commercial- Profit motive Social Obligation

  3. Features • IR single largest NationalCarrier. • Moves 18 mn. Pass. 2 mn. tonnes daily. • IR has 6,909 stations over a total route length of more than 63,327 kilometers.

  4. Features • Provides Cheap and clean Transport. • Best Suited for Bulk Commodities. • Provides better economies of scale.

  5. Pricing Policy Principles of Charge • What Traffic Costs. • What Traffic Can Bear.

  6. Pricing Policy • Commodities grouped into Classes. • Rate charged based on • Class-T/L, W/L Rate. • Distance- Shortest Route, Telescopic Benefit.

  7. Pricing Policy Limitations • Seasonal Variations • Regional Variations. • Empty Flow in Return Direction.

  8. Dynamic pricing • Dynamic pricing is basically a play of supply and demand factors and the influence of seasonal and regional skews in the economy. • In the unorganized sectors, this is in vogue from olden days and successfully implemented in other organized sectors esp., in the air travel industry and road transport.

  9. Dynamic pricing • Seasonal Variation- BSS, Surcharge on Transportation Products, Incentive Schemes. • Regional Variation- Enhanced Loadability-CC+8, CC+6 routes • Empty Flow- Grant Incentive on pre-identified routes

  10. Role of Accounts Dual Role Financial Advice Book Keeping Expenditure Earnings Con/Stores/Genl. Traffic Accounts

  11. Traffic Accounts-Role TAO Budget I.Audit Books I.Check Tfc.Fin.

  12. Earnings Budget • Exercise similar to Exp.Budget. • Pass. & Other Coaching- Commercial Br. • Goods- Operating Br. • Sundry- Accounts Br.

  13. Principles Of Check • Person to whom service rendered paid correctly. • Person who received the amount remitted correctly. • Apportionment of Earnings.

  14. Role of Staff • Watch accountal. • Conduct Audit on Returns/Statements. • Section(s) under Coaching and Goods. • Results of Check- AIC, E/Sheet.

  15. Role of Staff • Knowledge/Update of C.Circulars. • Prevent leakage of Revenue. • Limitation - volume of Transactions

  16. Role of TIA • Friend, Philosopher and Guide. • Periodic Inspection of Station(s). • Checks Initial Records at Station.

  17. Accountal of Earnings • Traffic Book- Part A,B,C and D. • Apportionment- Goods &Coaching Ergs. Share/Credit for Org/Term. /Cross Tfc. • CAS-Centralized Apportionment System Done by RITES/NDLS. C.Rly. Co-ordinates

  18. APPORTIONMENT Goods • Based on Tonnage and Dis.Carried. Terminal Cost- at each end- other than coal- Rs.31 per Tonnee Coal- Loading Rly.-Rs.45 per Tonnee Destination Rly.- Rs.31 per Tonnee • Diversion Debits- Claim when Frt. >10Lakhs per Rake and more than 1 Cr.

  19. APPORTIONMENT Coaching • Passenger- 5% for Org.Railway.balance distance leg wise. • Parcel- Based on peak period(II period) • BPT- Pre-fixed %

  20. Traffic Suspense • Based on Commercial Accting Principle. • 03 components-SOS, AOB, CIT.

  21. Internal Check • Refunds- • Freight, • Wh.Chgs/D.Chgs • Rebate Bills • C.Claims- Pass.Accident, Ft.C.Cases

  22. TRAFFIC FINANCE Proposals are under • Coaching – Halts, TBAs,RTSA,GTBS etc; • Other Coaching- SLRs, Parcel Van etc; • Goods- Incentive Schemes etc;

  23. Dynamic pricing • I/ scheme for inc tfc. In L.Season. • LTSIS • I/scheme for TEFD —Sidings & G. sheds • Incentive schemes for Frt. forwarders.

  24. Traffic Accounts • New Concepts Daily Billing E-Payment Maintenance Charges RMC as Rev.Traffic

  25. E-Payment A web-enabled 24x7 facility Works through the State Bank of India secure payment gateway Functional FOIS Terminal essential Linked through TMS (Terminal Management System) of FOIS, managed by CRIS

  26. OPERATION OF E-PAYMENT Railway and Party have account in the same Nationalised Bank Siding clerk with access to TMS can instantly debit party’s account and credit Railway’s account to the extent of value of RR On getting confirmation, E-RR can be generated

  27. SECURITY FEATURES TMS will ensure that E-RR is not exceeded Command for collection of freight shall contain complete RR details, Bank and LC details Bank’s confirmation will be in encrypted form with all details TMS will display Confirmation Message to operator E-RR shall contain Transaction ID, Time, Customer Code, LC No., Party’s and Railway’s Bank details etc.

  28. REPORTS AND CHECKS Bank shall generate a Daily List of Transactions System (FOIS interface) shall generate each day e-Log- E-RR shall also be treated as Bank Challan

  29. E-PAYMENT – Advantages • Better liquidity • CNCC : Bank Guarantee equal to 15/7 days freight • WOC : Cash Deposit equal to 20 days freight • E-Payment : LC equal to 5 days freight • A 24x7 facility: Instant information on Fund Balances Savings in Man Power for all 3 parties to the Agreement Hassles of payment by Demand Draft avoided Commission charges Transmission to loading point Refund of rounded-off freight c/o to next month

  30. DEPOSITED IN LOCAL BANK THROUGH CR NOTE (BANK CHALLAN) FREIGHT PAID THROUGH CASH/DD/FCN DETAILS RECORDED IN CR NOTE DEALT AS PER PROCEDURE IN VOGUE SENT TO CASH OFFICE . DEPOSIT IN BANK

  31. BANK CHALLAN IN TRIPLICATE AMOUNT CREDITED TO RAILWAY ACCOUNT RBI/NGP THROUGH FOCAL POINT BANK DEPOSIETD IN LOCAL BANK THROUGH CR NOTE (BANK CHALLAN) • BANK COPY • STATION COPY • CASH OFFICE COPY(SENT ALONG WITH CR NOTE) SENT TO CASH OFFICE DEPOSIT IN BANK CREDIT SCROLL SENT TO RAILWAY (BOOKS SECTION) BY FOCAL POINT BANK ALONGWITH BANK CHALLAN 9SYSTEM GENERATED FOR E-Payment) AMOUNT ENTERED IN CASH BOOK SENT TO BOOKS SECTION ALONG WITH BANK CHALLAN BOOKS SECTION BANK CHALLAN RECEIVED AMOUNT TAKEN AS CREDIT TO RIB SUSPENSE HEAD. BOOKS SECTION AMOUNT TAKEN AS DEBIT TO RIB SUSPENSE HEAD

  32. CONFIRMATION REGARDING TRANSFER E - PAYMENT AMOUNT CREDITED TO RAILWAY ACCOUNT RBI/NGP THROUGH LOCAL FOCAL POINT RR GENERATION IN QUADRUPLICATE PROMPT SENT THROUGH CRIS TO BANK SERVER CUSTOMER COPY (RR) DEBIT CUSTOMER’S ACCOUNT ACCOUNTS COPY ACCOUNTS COPY (SENT TO TAO) CREDIT POOLING ACCOUNT STATION RECORD AMOUNT TRANSFERRED TO RAILWAY DEPOSIT ACCOUNT AT THE END OF THE DAY

  33. THANK YOU

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