Indian Railway Codes and Manuals-Stores code- Vol-II-Chapter-27 (XXVII)
CHAPTER
XXVII
DEPARTMENTAL
SUMMARIES OF ISSUES AND RECEIPTS
2701. Bills have to be issued for stores supplies (debits) from
Stores Depots and payment (credits) have to be made for stores received
from outside sources in stores, depots. In the case of all issues and in the
case of receipts of stores from departments and workshops of the railway, (i.e.
excluding supply by purely outside agencies), debits and credits are originated
by the Stores Accounts Officer, the following procedure being followed.
Summaries of such receipt of issue vouchers (including Depot Transfer Issues
but excluding Issue Notes relating to auction sales, sales for cash and issues
chargeable to Miscellaneous Advances Accounts) will be prepared periodically
for each departments or workshop to be debited for credited up-to-date total
being carried forward periodically and, supported by copies of the vouchers
included therein, will be forwarded to the department concerned. The summary
issued for the last day of the month will be the bill. This procedure enables
the departments to carry out the duties at their end in connection with the
vouchers progressively from period to period instead of the entire bulk of the
work descending on them once a month only. The chart shown below
illustrates the above procedure along with that for reconciliation together
with the subsequent steps to be taken for incorporation of the transactions in
the General Books.
2702.
Departmental Summaries of Issues :—The duplicate copies of the Issue Notes (the
bill foils) should be sorted according to the departments or workshop to which
stores have been issued. They should be the checked with the advice of debits
(issue Departmental Summary) received from the Computer Center. They should be
then entered into Advice of Debits which should be prepared in duplicate by
Carbon process in Form S. 2702.
Separate series of numbers commencing from unit, each
month should be allotted to Debit and Credit Summaries to each department.
Numbers for debit and credit summaries should be distinguished by the letter T
and 'R' respectively being added to the numbers allotted to such
summaries.
2703. Each item
of a voucher should be separately entered in the summaries.
2704. Deleted and
provided for in Para 2702-S.
2705. Summaries
of Receipts :—Advice Notes for Returned Stores (S.1539) and for Materials
supplied to Stores by Workshops (S. 1531) should be sorted by the departments
and shops concerned and checked in the same manner and summary supplied as laid
down in paragraph 2701in the form shown below :
2706. Monthly Abstracts of Departmental Summaries of Issues
and Receipts—After the postings for the period have been completed, the total
to the end of previous period is struck. The total of each summary should be
entered in a Monthly Abstract of Summaries which should be maintained
separately for receipts and issues in the following form.
2707. It will be
seen from paragraph 2902 that the head Capital Suspense is divided into several
Main-Heads among which ''Stores Suspense" is one, which again is divided
into several sub and detailed heads (for facility of reference and
reconciliation with connected subsidiary registers and accounts) among which
also appear headings styled 'Stores in Stock-in Depots', Stores in Stock-Fuel
(Coal), and 'Stores in Stock-Fuel (Diesel)' vide Paragraph 2903. This
represents the priced ledgers. The group summaries and the Group ledger
represent the receipt and issue transactions in the priced ledgers. Paragraph
2613 provide j reconciliation with the Monthly Abstracts of Issues and Receipts
(S. 2706). For this purpose in general and particularly for the purpose of
providing a subsidiary journal for the transactions posted in the priced ledger
to facilitate the collecting together of all such transactions posted in one
place with reference to the contra heads of accounts affected( whereby one
journal slip could be prepared for incorporation in the account;;) the
following nature of transactions should also be posted in the Abstract of
Receipt; and Issues (S. 2706) so that it is a complete record of all
transactions passing through the priced ledgers. Such transactions are those
for which debits or credits are not made against departments, or shops but
against other heads of accounts under Capital Suspense.
2708. Proforma
Summaries.—Separate series of summaries detailed headwise (not to be issued)
should, therefore, be prepared for the following kinds of vouchers, viz.
Receipt Summaries for :—
(a) Advices of Receipts for purchases—Imported.
(b) Receipt Notes for Purchases......Indigenous Purchases
by Railways including Railway Board.
(c) Receipt Notes for Purchases through Centralised agencie
such as DGS & D, CSRP, etc.
(d) Depot transfer of Receipts and Issues.
(e) Vouchers for Credits to Stock Adjustment Account
(f) Vouchers for Debits to Stock Adjustment Account.
(g) Vouchers for material received after fabrication.
(h) Vouchers for material received on loan.
Issue Summaries for :—
(a) Auction Sale Issue Notes.
(b) Issue Notes for Direct Sales on cash payment.
(c) Issue Notes in connection with issues by debit to
Miscellaneous Advances.
2709. The
summaries would be prepared in the same manner as laid down in paragraph 2703,
but not necessarily on the forms of Advice of Debits or Credits, and the
periodical total entered in the Monthly Abstracts of Receipts or Issues (S.
2706) as laid down in paragraph 2706.
2710. The total
of the entries for a period in the Monthly Abstract of Receipts or Issue (S.
2706) should be reconciled with the total postings for the period with
respective Monthly Abstract of Group Summaries (S. 2709) in the manner laid
down in paragraph 2613.
2711. After this
reconciliation has been effected, one copy of the periodical summary of Receipt
or Issue should be sent to the department concerned for that period.
2712. Time Table
for dispatch of Summaries of Receipts of Issues. - As a rule, the
summarie should issue without delay along with the vouchers from the Accounts
Office. Thus, if the Accounts Office is adjacent to the depot, the summaries
relating to the vouchers of the last day of a month should issue in the first
week of the following month. The periodicity of the periodical summaries shall
be fixed by the FA & CAO in consultation with their Controller of Stores,
subject to the condition that the summary for the last day of the month, is not
delayed beyond the first week of the following month.
2713. Reconciliation
With Group Ledgers.—At the end of the Monthly Abstracts of Receipts or issues
(S. 2706) should be totaled and the Grand Total agreed with the corresponding
total of the receipt and issue appearing on the Group Ledgers for the Depots,
as laid down in paragraph 2617.
2714. Monthly Bills. -The periodical summary for the last date
of the month should be prepared in triplicate and would form the. Monthly bill
of credits or debits. Two copies of the same should be sent to department
concerned for acceptance, allocation and return of one copy. The journals slip
for the month should be prepared based on the initial allocation given on the
vouchers.
2715. Register of
Departmental Summaries. -A register (S. 2715) should be maintained in
manuscript in two one for receipts and one for issue:; and should show the
number and date of the last summaries and the total amount for the month and
the designation and station of the departmental officers concerned. It will be
used to watch the acceptances of the debits or credits raised. On receipt of
acceptance of the summary, the date., should be entered against the items
concerned in the register. The register should have columns to note down the
allocations as shown by the officers accepting the bills. At the end of the month
the various columns should be totaled and the journal slip mentioned in
paragraph 2707 prepared crediting debiting or General or Engineering Stores by
contra adjustment to the transfer head concerned.
2716. Check of
Departmental Summaries.—Departmental officers receiving periodical Summaries
should first see from the consecutive numbering that every previous summary has
been received, and if any have gone astray should call for 'hem or for. the
copies. They should then "allocate" the summary and post the
Allocation Register or Work Register, as the case may be. The copies of the
issue notes received with the summaries should be paired with the accepted
copies of issue notes forwarded by the indenters, and should there be issue
notes for stores not received or received in a damaged condition, they should
take up the matter with the Stores or the Traffic Department vide paragraphs
(2128 to 2138); but they must in the first instance take all issue notes into
account without exception leaving any readjustments arising out of such loss or
damage to be made subsequently, when the question has been settled. The cost of
such stores, should be allocated meanwhile to Miscellaneous Advances Account
after duly advising the Accounts Deptt. Departmental Officers will be entirely
responsible for seeing that this account is expeditiously cleared.
2717. Issues to
Capital Works and to Surveys.—In all cases in which stores are issued to Works
or to Surveys, a charge of 5 percent should be added to the book value of
stores. The credit for this percentage charge should be afforded to Revenue A.
490.
In the case of issues to all Works and Surveys not funded
from railway finances i.e., deposit works for non-railway bodies on additional
charge of 121% should be levied on account of departmental charges, giving the
contra credit to earnings.
2718. Acceptance of
Last Departmental Summaries.—If a Departmental Officer has allocated and posted
his Summaries punctually and regularly there should be no delay in the
allocation and return to the Stores Accounts Office of the last summary (i.e.,
bills). It is essential that the total amount of the last summary should be
allocated in full. The final summaries duly accepted should be sent to the
Stores Accounts Office by the 10th of the month in which they were received. If
the allocated vouchers are not received in time, the vouchers should be
allocated based on the initial allocation of the vouchers. Any discrepancies
noticed shall be adjusted subsequently.
2719. It may sometimes
happen that vouchers pertaining to one branch or division are entered wrong.
Mistakes of the above nature should be promptly set right when they are
noticed, or are brought to notice of the concerned Accounts Officer. But if the
final summary for the month has issued that summary should nevertheless be
accepted by the officer concerned in full and any adjustment necessary carried
out in the accounts of the following month.
2720. Issue of
Transfer Certificates"—in the case of rail way/production unit where the
entire Accounts Organisation is centralised in the Headquarters of the railway
no transfer certificates are necessary, the necessary booking to the respective
accounts being made from Journal Slips prepared on the authority of the
accepted last summary or the allocation summary as the case may be.
2721. Suspense Accounts Registers.- -Suspense Accounts
Registers have to be maintained sub-detailed headwise in connection with
transactions of certain categories such as sales, issues on suspense account,
etc. in order to maintain proper accounts to facilitate recovery of dues to the
railway or watch clearance of outstanding items. Such registers in connection
with the transactions posted in the Priced Ledger are :—
(a) Sale Account Registers (Para 2722)
(b) Deposits Miscellaneous Accounts Register (Para
2729)
(c) Miscellaneous Advances Account Register (Para
2739)
(d) Stock Adjustment Account Register (Para 2740) and
(e) Stores-in-Transit Account Register (Para 2746)
2722. Sale Account
Registers.—Separate registers for each depot separately for and other than fuel
should be maintained in the following form for recording:—
(a) Sale to Railway employees
(b) Sales to outside Parties—Cash sales
(c) Sales to Outside Parties—Sales by tender
d) Sales to Outside Parties—Auction Sales
(e) Sales to other Railways
(f) Sales to other Government Departments
(g) Export Sales
(h) Sales to Public Undertakings
2723. Debits are
posted from Sales Issue Notes and Credits are posted from :—
(i) Transfer Certificates in connection with cash books of
the Treasurer on cash remittances into stations or the Cash Receipt issued by
the Cashier of the Railway.
(ii) Accepted transfer certificates received from other
Railways. Credits should be posted against the individual debits.
2724. Separate
pages should be allotted for each auction in the case of the Register for
Auction Sales Account and for each tendered in the case of sales by
tender.
2725. Issue Notes
relating to sales.—Sales of stores by auction, and sales either directly or by
tender to other railways, Government Departments, outsiders and railway
employees are accounted for through issue notes marked "sale." These
should be sorted out by particular auctions, departments, offices, etc. The
correctness of the quantities and changes shown in the issue notes should be
checked with the Sale Orders or Sale Order Register (S. 2335) or Lot Register
in case of auctions and eateries regarding particulars of the issue note should
be made therein. This issue note should then be posted into the relevant Sales
Registers (S.2722).
Note :—In the case of centralised Accounts<Officer, no
Sale order Register need be maintained, the copies of The Sale Order themselves
being filed chronologically and used for reference.
2726. Bills for Sale Dues.—In cases of Sales where payments
will be made by book adjustment, a bill should be made out in triplicate in the
form shown below.
2727. The bill should show particulars of the requisition
or application for sale, the issue notes, amount and name of party concerned.
The freight and departmental charge:, that have to be levied under paragraphs
2328, 2329 and 2331 should be added to the amount of the bills where necessary.
Before issue, the bill should be checked with the entry of conditions of sale
in the Sale Order Register (S. 2325) to see that the percentage charges are not
omitted. One copy of the bill will be retained as an office copy and the
remaining two copies alongwith one copy of the issue note should be sent to the
head of the office concerned immediately after the preparation of the
periodical Summaries of Issues and in the case of frequent sales to the same
party during the month, by the 10th. of the month following that in which the
stores were issued.
2728. When the credits for the amounts billed for are
received, the value of the stores should be posted in the Sales Register (S.
2722) and the recovery of freight and incidental charges should be credited to
Abstract. A. 490 and that of departmental charges to Abstract ''Z" earnings.
The latter credit is to be passed on the Traffic Account Branch through a local
Transfer Certificate. In case of Production Units, these charges should be
credited to Overheads (Workshop Manufacturing Suspense).
2729. Deposits Miscellaneous Account (Issue ) Register - the
amounts paid by the purchaser in advance as Security Deposit or Earnest Money
or Sales Tax collected for Stores sold are credited to the head Deposits -
Miscellaneous Accounts (Issue) and posted in this register. When the Security
of earnest money is refunded or the sales tax collected is remitted to state
Government the head "Deposits-Miscellaneous" is debited
by credit to "Cash (Railway Revenue)". In case in which the earnest
money/ security deposit is adjusted towards the sale price the corresponding
credit would be to "sales". All debit entries, in the register
towards refund etc. of Security Deposit or earnest money or the sales tax
payment to the State Government, which affect the credits under
"Deposits-Miscellaneous Stores", should be initialed by the Accounts
Officer (Stores).
2731. Reconciliation of Sales m&
Deposits-(Miscellaneous Accounts Registers).—As soon as the postings for a
month have been completed, totals and balances under each sub-detailed. head
should be struck and checked and reconciled with the General Books as soon as
the Monthly Accounts have been compiled. The certificate of reconciliation
should be recorded on the registers by the Section Officer/ Books Section. The
registers should then be scrutinized to see that items which have remained over
are current and suitable action taken for the early adjustment of the
outstanding. A summary shot-id then be compiled each month, showing the number
of items outstanding relating to such month. All items outstanding for
more than three months should be specialty detailed and the orders of the
Accounts Officer obtained thereon.
2732. Deleted.
2733. Auction Sale Accounts -The sale proceeds less
auctioneers commission (where it is deducted from the sale proceeds in
terms of agreement) will be remitted to the Railway by the auctioneers
immediately on receipt of the money from the purchasers and in any case not
later than seven days of the d livery of each lot; this will be watched through
weekly lists of deliveries (S. 2440) submitted by" the Depot Officer. At
the end of each auction. the auctioneers will prepare an Auction Sale Account
and .send it in duplicate through the Depot Officer and the Controller of
Stores who will countersign one copy and send it to the Accounts Office. The
auctioneers should be instructed to prepare separate accounts for sale of scrap
and the sale of other stores. The auction sale accounts should be received in
the Accounts Office within a month from the end of the auction according to the
auction programme.
2734. The auction sale accounts should be checked with the
completion reports submitted independently by the Depot Officer and the
Accounts Stock Verifier (vide paragraph 2441 and differences, if any,
investigated. It should then be examined to see.
(a) that the amount realised has been correctly
computed according to the bids noted in the Auction Sale Completion Report
submitted by the Stock Verifier and that it agrees with the total remittances
made and that the amount of auctioneer's commission, where deducted, is correct
;
(b) that the arithmetical calculations art
correct; and
(c) that the account has been countersigned by a
Gazetted Officer of the Stores Department.
2735. List of refunds.—Scrap is generally auctioned on the
basis of a rate per ton and the sale price is recovered on the basis of the
quantity estimated a; comprising the lot. If, on weighment at the time of
delivery of the stores, the actual quantity is found to be more than the
estimated value of the auction, the cost of the excess quantity at the sale
rate would be realised before permitting delivery. If, on the other hand, the
actual quantity is less than what has been actually paid for, a refund becomes
due. In such cases a list of refunds is prepared by the Stores Department and
countersigned by the Stock Verifier who witnessed the deliveries. The statement
gives reference to auctioneer's Delivery Order No., date, name of purchaser,
quantity auctioned, quantity actually delivered, rate, amount realised, amount
actually due and amount admissible as refund. This should be checked with the
auction sale account submitted by the auctioneers which should show the amount
recovered from each purchaser with reference to the cash remittance note under
which the amount was remitted to the Treasure. Pay Orders should then be issued
for the sum refundable to the parties concerned. The details of the refunds
allowed should be entered according to the depots and sale accounts in the
respective Sales Accounts Register.
2736. When the accounts of particular auctions in the
Auction Sale Register have been completely closed without balances or
discrepancies, the auction sale accounts and the completion reports referred to
in paragraph 2441 should be endorsed with a certificate to that effect and put
up to the Stores Accounts Officer for signature after which they should be
filed away.
2737. Auctioneers. Commission Bills. The auctioneers submit
alongwith auction account the bills for commission, unless they are permitted
to deduct their commission charges from the sale proceeds of the auctioned
material. The Controller of Stores, after satisfying himself of the correctness
of the bill, should forward the same to the Accounts Office for audit and
payment. The bill should be checked for the correctness of the rates and
amounts and particularly as to whether the sums on which the charges are levied
have been actually received by the Railway!- The bill should then be passed for
payment by debit to Stock Adjustment Account loss on sales.
2738. Loading charges.—When Stock Verifiers witness
deliveries of stores auctioned or sold, they should submit to the Accounts
Officer/Stores a monthly statement showing the amount of loading charges
recovered. Before submission of the statement it should be reconciled with the
depot records and a certificates to this effect recorded thereon. These
statements should be checked with the amounts accounted for by the Treasurer of
the Railway. The amounts should be credited to Abstract A. 490.
2739. Miscellaneous Advances Account Register
(Capital).—The issue notes chargeable to Miscellaneous Advances Account should
be posted into this register sub-detailed head wise and the clearance of the
debits watched there from as laid down in paragraph 2732. At the end of each
month the debits and credits and the balances in each month should be
reconciled with the General Books and a certificate of reconciliation endorsed
on the register on the same lines as in the case of the Deposits-Miscellaneous
Register vide paragraph 2731.
The sub-detailed heads under Miscellaneous Advance
s (Capital) are :—
(a) Miscellaneous Advances (Printing),
(b) Miscellaneous Advances (Clothing),
(c) Miscellaneous Advances (Ferrous),
(d) Miscellaneous Advances (Others),
(C) Miscellaneous Advances (Risk &
Cost/Production Units).
The
sub-detailed head (Other) should be operated for recording all items of
expenditure which can not be recorded under any prescribed sub-detailed
heads.
2740. The Stock Adjustment Account.—The Stock Adjustment
Account should be maintained in Form S. 2740 shown below in the following
parts, each part representing the record of the particular class of
transactions, noted against each. The general circumstances under which this
account is operated is explained in Para 2942-S.
I. Results of Stock Verification :
P. 7181—Differences between the Ledger balances
and the ground balances discovered by the Stock Verifier.
P. 7182—Differences between the Ledger balances
and ground balances discovered during Departmental Verification.
II. P. 7183—Differences arising out of revaluation
of stores due to market fluctuation of purchased stores.
P. 7184—Differences arising out of revaluation of
stock due to market fluctuation of shop manufactured stores.
III. Miscellaneous Items :
P. 7185—Differences in book value and value
realised in Sales.
P. 7186—Losses on classification of new stores as
second hand scrap.
P. 7187-—Other Losses i.e., breakage, leakage or
loses in transfer.
P. 7188—Rounding off.
P. 7191—Miscellaneous items.
P, 7192—Value brought on books through depot stock
sheets pending receipt of voucher.
2741. Posting and Reconciliation.—The postings in the account
will be made from the various journal slips prepared for the different
transactions, surpluses and deficiencies being shown separately. A summary of
all the parts should be made at the end of the month reconciled with the
figures in detail (manuscript) registers, which should be maintained on the
same lines as the account and be posted from Accounts Depot Stock Verification
Sheets and Adjustment Stock Sheets. The Account should be signed by Stores
Accounts Officer.
2742. Clearance of the Balance in the Stock Adjustment
Account.—The greater vigilance should be exercised in clearing items from the
Stock Adjustment Account and as a rule all items should be finally cleared in
six months. Items of small value, or items the retention of which in the Stock
Adjustment Account for any period serves no useful purpose, should be promptly
cleared by debit to final heads of account. Items remaining unlearned at the
end of quarter ending 30th June, 30th September, 31st December and 31st March
should, unless the enquiries are so far and well advanced that their clearance
within the space of a month or two may be expected, be specially reported to
the General Manager of the Railway whose orders as to the heads of account to
be debited and credited should be obtained, these orders being recorded in the
Minutes of Official meetings. Items appertaining to works should be adjusted in
accordance with the provisions of paragraph 1815-E. All other items should be
adjusted under working expenses, except such items of credits, if any, as may
be due to the accumulated effect adjustments, which ought to have been carried
out in previous years. These latter should be credited to Earnings. In the case
of Production Units, these differences should be adjusted to Overheads
(WMS).
Note:—Difference arising from the reconciliation
of price ledger balances with the General Books as provided for in the Note
under paragraph 2632-S may be cleared from the Stock Adjustment Account under
the General Manager's powers provide the general state of accounts is such that
it can be clearly certified that there has been no fraud or irregularity of any
kind. In all other oases. the differences should be reported to Board for their
orders.
2743. The net result of all surpluses and deficiencies discovered
should be adjusted in the accounts of the year in which they are discovered. In
exceptional cases, where the amount is, very large, it might be desirable to
provide that the adjustment should be spread over for some years but this
should not be done without the sanction of the Railway Board.
2744. At the end of the year, gross surpluses and differences
should be worked out separately for the headings 'Results of Stock
Verifications, Result of Revaluation, and 'Miscellaneous items and a comparison
made with the corresponding figures for the previous year and submitted to the
General Manager for his information. At the same time, the net charge to Stock
Adjustment Account in the year should be compared with the actual issues during
the year and the percentages worked out and intimated to the General
Manager.
2745. After the accounts for March have been closed, a statement
showing the gross surpluses and deficiencies transferred to Stock Adjustment
Account during the year under the headings mentioned in paragraph 2740 above
and showing also how the balances under each heading have been adjusted against
the several grants of earnings during the year should be prepared in the
attached form and submitted to the General Manager for his information.
2746. Depot Transfers—-When the stores issued during a month from
a depot are not received in the receiving depot in the same month, such items
would not appear in the accounts of the receiving depot. It was stated in
paragraph 2524 that the issuing depot would submit summaries of issues to the
receiving depot concerned and that the receiving depot should note down on the
summaries the dates of accounted of each of the items as they are posted in the
priced ledgers. At the same time a preformed summary of receipts is prepared
for the month by the Accounts section (vide paragraph 2708). At the end of the
month, unaccounted items in the issue summaries should be posted into a
register styled "Register of Stores-in-Transit." maintained in the
form below and their clearance should be watched carefully. When any such item
is accosted for later, the credit should be posted in the register in the
column for the month of accounted and against the debit entry for the item
concerned. Separate registers should be maintained for each depot for—
7172—Stores-in-Transit Depot—Transfer other than
Fuel; and
7173—Stores-in Transit-Fuel
2747. The balances lying in the Stores -in Transit
Registers should be carefully analysed each mouth and if any item has been
found to be outstanding for more than one month, the mailer should be taken up
with the Depot Officer concerned. Special lists of items outstanding for more
than three months should be sent to the Controller of Stores for taking steps
for their clearance.
2748 Stores-in-Transit 'Purchases'.—-The credits to Purchases
Account are posted from the Receipt Notes granted by the Stores Depot. In cases
where Inspection and Receipt Work is centralized such receipts are granted on
behalf of the Stores Department by the Receiving and Inspecting" Officer.
The posting of such receipts in the priced ledgers as a contra debit entry will
Appear however only when the material has been received by the Depots stocking
the items and accounted for by it in its priced ledgers. In such cases the
Receipt Notes granted by the Receiving and Inspecting Officer towards the close
of a month would appear as credits to Purchase Account whereas the
complementary debits would not appear in the same month in the priced ledgers
as the materials would not have reached the stocking depot within the month-
2749. As metioned in paragraph 2808 a summary (of
posting) of credits to the Purchase Account should be made out periodically.
Similarly, a summary of postings of purchases in the oriced ledgers will be
prepared, as laid down in paragraph 2708. After the completion of the postings
for a month in the priced ledgers, all outstanding items in the summary of
credits to Purchase Account should be posted in a Stores in -Transit-Purchase
Register to be maintained separately for purchases. The same procedure as
outlined in paragraph 2746 will be followed for the clearance of the items.
2750. Deleted-
2751. Reconciliation of balances in Stores-in-Transit
Registers with General Books.—A statement should be prepared in the forms shown
below each .month,...for each stores in-Transit Register bringing out the
closing balance sub-detailed headwise which should be reconciled firstly with
the total of the balances lying at the close of the month ' in the
Stores-in-Transit Register and later with the General Books and a certificate
to the effect endorsed in She Stores-in-Transit Register by the Section Officer
of the Books Section.
Multiple choice questions:
1. What is the main purpose of
preparing summaries of receipt and issue vouchers?
A) To expedite the month-end closing
process
B) To facilitate progressive duties and avoid bulk work
C) To track auction sales and cash sales
D) To reconcile with the General Books
Answer: B) To facilitate progressive duties and avoid bulk work
2. How should the duplicate copies
of Issue Notes be handled?
A) Sorted by department and checked
against Advice of Debits
B) Destroyed after reconciliation
C) Filed chronologically without further action
D) Sent directly to the Computer Center
Answer: A) Sorted by department and checked against Advice of
Debits
3. What is the purpose of the
Monthly Abstract of Departmental Summaries?
A) To prepare annual financial
reports
B) To provide a total of receipts and issues for the period
C) To reconcile auction sales and cash sales
D) To issue transfer certificates
Answer: B) To provide a total of receipts and issues for the period
4. What is the significance of the
letter 'T' in the numbering of summaries?
A) It signifies a Credit Summary
B) It signifies a Debit Summary
C) It denotes the type of transaction
D) It indicates a transfer summary
Answer: B) It signifies a Debit Summary
5. Which accounts are debited or
credited when stores are issued to Capital Works or Surveys?
A) Revenue A. 490 for departmental
charges
B) Stores Suspense for store transfers
C) Miscellaneous Advances Account for allocation adjustments
D) Earnings for deposit works
Answer: A) Revenue A. 490 for departmental charges
6. How should discrepancies in
allocation be handled if vouchers are not received in time?
A) Allocate based on initial
allocation and adjust later
B) Reject all summaries until all vouchers are received
C) Write off the discrepancies as a loss
D) Allocate based on average monthly usage
Answer: A) Allocate based on initial allocation and adjust later
7. What should departmental officers
do if they notice mistakes in the final summary?
A) Correct the mistakes immediately
and reissue the summary
B) Accept the summary and adjust discrepancies in the next month
C) Return the summary to the Accounts Officer for correction
D) Ignore the mistakes if they are minor
Answer: B) Accept the summary and adjust discrepancies in the next
month
8. What are the primary components
of the Suspense Accounts Registers?
A) Sales Accounts, Miscellaneous
Advances, Stock Adjustments, and Stores-in-Transit
B) Depreciation Accounts, Capital Expenditure, and Cash Flow
C) Purchase Orders, Invoices, and Payment Receipts
D) Budget Allocations, Expense Reports, and Asset Registers
Answer: A) Sales Accounts, Miscellaneous Advances, Stock
Adjustments, and Stores-in-Transit
9. When should the final departmental
summaries be sent to the Stores Accounts Office?
A) By the end of the month
B) Within the first week of the following month
C) By the 15th of the following month
D) After reconciliation with the Group Ledgers
Answer: B) Within the first week of the following month
10. What should be included in the
preparation of Proforma Summaries for receipts?
A) Only receipts from outside
agencies
B) All types of receipt vouchers including imports and indigenous purchases
C) Sales and auction issue notes
D) Only departmental transfer issues
Answer: B) All types of receipt vouchers including imports and
indigenous purchases
11. What is the purpose of
maintaining Sale Account Registers?
A) To record sales transactions and
track cash receipts
B) To monitor store transfers between depots
C) To reconcile departmental accounts with the General Books
D) To facilitate tracking of auction sales and tenders
Answer: A) To record sales transactions and track cash receipts
12. What should be done if an issue
note is for a store not received or received damaged?
A) Allocate the cost to
Miscellaneous Advances Account and follow up later
B) Ignore and proceed with the summary as is
C) Return the issue note to the Stores Department immediately
D) Reconcile the issue note with the Accounts Officer before allocation
Answer: A) Allocate the cost to Miscellaneous Advances Account and
follow up later
13. What action is necessary if a
department or workshop has not received all previous summaries?
A) Request missing summaries from the
Accounts Office
B) Adjust the allocations based on available summaries
C) Proceed with the allocation based on an estimated total
D) Accept the summary and note the missing items for future reference
Answer: A) Request missing summaries from the Accounts Office
14. What should be the frequency of
preparation for the Monthly Abstracts of Receipts or Issues?
A) Annually
B) Quarterly
C) Monthly
D) Bi-annually
Answer: C) Monthly
15. How are receipts and issues for
non-railway bodies treated differently in terms of charges?
A) They are charged a 5 percent rate
for all issues
B) They incur a 12.1% additional charge for departmental expenses
C) They receive no additional charges
D) They are billed at a standard rate irrespective of the type
Answer: B) They incur a 12.1% additional charge for departmental
expenses
16. What should be included in a
bill made out in triplicate for sales where payments are made by book
adjustment?
A) Only the requisition details and
amount
B) Details of requisition, issue
notes, amount, name of the party, freight, and departmental charges
C) Only the freight and departmental
charges
D) Details of the requisition and
the name of the party
Answer: B) Details of requisition,
issue notes, amount, name of the party, freight, and departmental charges
17. When should the copies of the
bill and issue note be sent to the head of the office concerned?
A) Immediately after preparation of
the bill
B) By the 10th of the month
following the issuance of stores
C) At the end of each week
D) Within three days of issuing the
stores
Answer: B) By the 10th of the month
following the issuance of stores
18. How should the credit for
amounts billed be recorded when received?
A) Credit the amount of stores to
the Sales Register and the freight and incidental charges to Abstract A. 490
B) Credit the amount of stores and
freight charges to Abstract A. 490 and departmental charges to Abstract Z
earnings
C) Credit the freight charges to the
Sales Register and the amount of stores to Abstract Z earnings
D) Credit the entire amount to
Overheads (Workshop Manufacturing Suspense)
Answer: B) Credit the amount of
stores and freight charges to Abstract A. 490 and departmental charges to
Abstract Z earnings
19. What action should be taken if
earnest money or security deposit is adjusted towards the sale price?
A) Debit to "Cash (Railway
Revenue)"
B) Credit to
"Deposits-Miscellaneous"
C) Credit to "Sales"
D) Debit to "Sales"
Answer: C) Credit to
"Sales"
20. What should be done when there
is a discrepancy between the Auction Sale Account and the completion report?
A) The discrepancy should be ignored
B) The differences should be
investigated and adjusted
C) The discrepancy should be
recorded and filed without investigation
D) A new Auction Sale Account should
be prepared
Answer: B) The differences should be
investigated and adjusted
21. How should refunds due from
auction sales be handled?
A) Prepare a list of refunds and
issue pay orders based on it
B) Directly adjust the refunds in
the Auction Sale Account
C) Ignore the refunds if they are
below a certain amount
D) Forward the refund request to the
auctioneer for processing
Answer: A) Prepare a list of refunds
and issue pay orders based on it
22. What is required to clear items
in the Stock Adjustment Account?
A) Clear all items within a year
B) Items should be cleared within
six months, with special reporting for items outstanding for over three months
C) Items should be cleared only at
the end of the financial year
D) No clearance is necessary for
small value items
Answer: B) Items should be cleared
within six months, with special reporting for items outstanding for over three
months
23. What should be done if the
balances in the Stores-in-Transit Registers are outstanding for more than one
month?
A) Ignore the outstanding items
B) Take up the matter with the Depot
Officer and report items outstanding for more than three months to the
Controller of Stores
C) Directly adjust the amounts in
the General Books
D) Immediately close the registers
and discard outstanding entries
Answer: B) Take up the matter with
the Depot Officer and report items outstanding for more than three months to
the Controller of Stores
24. How should differences in book
value and value realized in sales be recorded?
A) Debit the Stock Adjustment
Account
B) Credit the Stock Adjustment
Account
C) Record them in the Miscellaneous
Items section of the Stock Adjustment Account
D) Ignore the differences as they
are not significant
Answer: C) Record them in the
Miscellaneous Items section of the Stock Adjustment Account
25. What should be done with the
Auction Sale Accounts after they are closed?
A) File them without further action
B) Endorse them with a certificate
of closure and submit to the Stores Accounts Officer for signature before filing
C) Destroy them after completion
D) Send them to the Controller of
Stores for verification
Answer: B) Endorse them with a
certificate of closure and submit to the Stores Accounts Officer for signature
before filing
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