Indian Railway Codes and Manuals-Stores code- Vol-II-Chapter-25 (XXV)
CHAPTER XXV
PRICED LEDGERS
2501. Location of
Office.—The Stores Accounts Office is a part of the office of the Chief
Accounts Officer, located preferably in the closest proximity to, if not along
with the office of the Controller of Stores so that the latter is in close
touch with his accounts.
2502. A 'Local'
unit of the stores Accounts Office may, where circumstances require this, be
attached to each of the more important stores depots. Such local offices should
work in the closest co-operation with the Depot Officer concerned (being in
fact his Accounts Office) and deal with all the accounting of the receipts into
and issues of stores from the depot to which they are attached, including :—
(a) the issue of periodical and monthly summaries to
departments (both debits and credits).
(b) the verification of stocks;
(c) the compilation of monthly statements of stores Transactions for the depot;
and
(d) monthly reconciliation of priced ledgers with General Books.
2503. Functions
of the Stores Accounts Office.—The main functions of the Stores Accounts Office
are :—
(a) to check the initial documents of receipt and issue, and adjust their value
in the books of the railway, maintaining the necessary accounts records
therefor ;
(b) to compile the stores accounts and prepare the periodical returns due to
the Controller of Stores, the General Manager, and the Railway Board; and
(c) to verify the stocks of stores in the depots and on the line annually or at
such other periods as prescribed for each category and nature of stock.
2504. The more
important items of work involved in discharging the first of the three
functions, viz., the initial check and accountal of vouchers, may be grouped as
follows :
(a) The maintenance of priced ledgers and effecting reconciliation of the
balances in the priced ledgers with the General Books monthly through the means
of group ledgers.
(b) Arranging for the recovery of the cost of stores issued including any
incidental and departmental charges, whether in cash or by means of book adjustments
(Summaries of Issues).
(c) Arranging for the discharge of liabilities incurred in connection with the
receipt of stores, either by cash payment or by means of book adjustments
(Payment of Bills).
(d) Maintenance of Accounts Registers in connection with the above items of
work in order to keen a proper record of the assets and the liabilities and to
guard against double or overpayments or the omission of recoveries due.
(e) Maintenance of liability registers for stock items to record the
liabilities entered into as and when the orders are placed on the
suppliers/contractors or indents are placed on the procurement agencies and
watch the liquidation of such liabilities.
2505. The Stores
Accounts Officer.—The Stores Accounts Office will be under the Stores Accounts
Officer, a Gazetted Officer, whose duties are two-fold. He is responsible to
the Chief Accounts Officer for the efficient working of his branch and in this
capacity he exercises a complete and independent audit of all stores
transactions and maintain a dis' tinct set of audit registers and books.
Subject to the control and general direction of the Chief Accounts Officer, he
also acts as adviser to the Contioiler of Stores (Deputies or Depot Officer in
local offices) in all matters of stores accounts and finance and assists that
officer with all information in connection with compilation of stores
transactions, including book rates, consumption of stores balances etc.
2506. The maintenance of priced ledgers of stores
involves different groups of operations.
Group A—
(i) The receipt and check of vouchers and forwarding the
same to Data Centre.
(ii) Periodical listing of the transactions and forwarding
the same to Data Centre
(iii) Opening and closing of priced ledgers as advised by
the Depot Officer, after due check.
(v) Checking of punched data, as per data processing
procedures.
(v) Accurate and timely maintenance of priced ledgers
through EDP Centre.
Group B—
(i) Scrutiny of all unmatched vouchers, vouchers causing
irregular balance items and other rejected vouchers and their clearance.
(ii) Scrutiny of printed ledgers for abnormal and
unreasonable results and their elimination.
Group C—
(i) The revision of rate...
(ii) The review of the priced ledgers.
2507. The
operations detailed in paragraph 2506 should be carefully planned and allocated
in such a manner that the work will not only be upto date, but also the
accuracy thereof is also ensured.
2508. All
vouchers affecting stores transactions, (except those relating to adjustments
of monetary values only, such as the correction of mistakes in such values,
etc.) will be received from the stores depot. Every such voucher will represent
a physical receipt or issue of a quantity of stock as shown on the document.
The exceptions will be cases in which a quantity, short received or erroneously
received instead of the correct material and returned since, is permitted to be
shown as in stock pending the settlement of the dispute regarding such
shortages; and cases of correction of price list numbers discovered after the
vouchers have been despatched etc.
2509. Time Table
for submission of voucher by Depots.—The vouchers should be made over by the
Depot to the Stores Accounts Office, daily. The vouchers for a date, say the
first of a month, should be completely delivered to the Stores Accounts Office,
without fail, wherever no holiday intervenes, on the morning of the third,
within the hour of the opening of the office. The vouchers would be accompanied
by the Forwarding Memo (S. 1256). Where the stores depot and the Stores
Accounts Office are not in the same station, the time allowed may be modified
to suit local conditions taking care to see that there is no avoidable delay in
the regular submission of the vouchers to the Accounts Office. The Accounts Office
shall after checking the vouchers, bundle them in bathes (according to the
voucher code and date) periodically as per programme laid down by the Data
Centre and deliver them on these dates.
2510. Check of
vouchers.—On receipt in the Accounts Office, the vouchers should be cheeked
with the Forwarding Memo (S. 1256) to see;
(a) that all the vouchers entered therein have been
received; and
(b) that the serial numbers assigned to the vouchers as
laid down in paragraphs 1255 and 1315 are correctly continued from the previous
day and have been assigned without any break.
2511. Cancelled
or Missing Vouchers.—If any vouchers are missing, or if any have been shown as
cancelled, a search should be made for the missing vouchers and if they cannot
be obtained at once, a note should be kept in a register and the matter pursued
until settled satisfactorily. In the case of cancelled vouchers, the foil of
such vouchers should be inspected as laid down in paragraph 1332. In checking
the vouchers with the Forwarding Memo (S. 1256) the arrangement of die vouchers
as received from the depot should not be disturbed, even if this involves some
inconvenience.
2512. Secutiny of the Vouchers.—The vouchers should then
be examined to see that :
(a) they have been prepared on the proper forms and with
proper voucher code;
(b) they are signed and/or countersigned by proper authority or authorities as
required by the rules;
(c) the correct number of foils have been received;
(d) they are legibly written;
(e) all data required to be punched are duly entered in the relevant places;
(f) in the case of receipt notes where the ordering unit is different from the
accounting unit, both the units are legibly shown. The extra charges such as
ST, Surcharge, Excise Duty, Customs Duty, etc. are indicated precisely and not
in general terms;
(g) that reference to requisitions on which issues have been made are quoted in
the vouchers;
(h) that quantities issued are shown in words also and are no more than the
quantity requisitioned;
(i) in case of Sale Issue Notes other than Inter-Railway sales, the sale value
as per the Sale order is clearly indicated on the sale vouchers;
(j) that in respect of receipts, there is no undue delay between the dates of
receipt of the stores in the depot and of accountal in the Priced ledgers; and
(k) that where it is required to state reasons for sending or transferring
material, as in the case of Advice Notes and Book Transfers, such reasons hare
been given.
2513. Deleted
2514. Deleted.
2515. Receipts
and issues of stores are ordinarily priced either;
(a) at rates which are already shown on the vouchers for such transactions as
purchases or at predetermined rates for manufactures by Railway Workshops,
advice notes for return stores/Depot transfer Receipts; or
(b) at book average rates, as in the case of receipts under Book Transfers,
Department and Account Stock Verification Sheets, and all vouchers for issue of
stores except those relating to sale. However, sale issue vouchers relating to
sales to other Indian Railways and Production Units will be priced at the book
average rate.
2516. Deleted.
2517. Deleted.
2518. Calculations
of values.—The calculation of values of all the vouchers, other than the
Receipt Notes, Advice Notes and Sale Issue Notes, and withdrawal vouchers will
be done automatically by the Computer at the book average rate. The calculation
of values at predetermine! credit rates for Advice Notes, shop manufacture
receipts and Depot transfer receipts is also done on the Computer. In the Case
of Receipt Notes, the Receipt Note is given the calculation clerk and the
correctness of the value should be independently checked by another clerk.
Where a voucher is received in more than one foil, each foil is best given to
separate clerk and later the correctness of the work should be checked by
pairing and comparing the values on both the foils. Whenever the withdrawal
vouchers are accounted for, they should be priced at the original value.
2519. Rounding
off Paise—In calculating the value of each item of stores in connection with
the Receipts or Issues, the value should be taken nearest to the paise,
2520. In the case
of purchases through the Centralised Agencies, the calculation of values of the
item in the Receipt Note should be reckoned in terms of whole rupees, amounts
below 50 paise being dropped, and 50 paise and above reckoned as one Rupee. If
more than one it is entered in a Receipt Note, the rounding off should be done
on the total of the items and not on individual items. This is necessary in
order that the amount posted in the Purchase Accounts Registers and the Priced
ledgers agree with the bill forwarded by the Pay & Accounts, Officer of the
DGS&D Wing, who rounds off paise to the nearest rupee.
2521. 0) Receipt
Notes (S. 719).—In the case of Railways with decentralised inspection, Part III
of Form S. 719 will be received from the depot after it has been taken into
account. The value of the supplies should be calculated at the rates shown on
the voucher. It should then be handed over to the ledger clerk for posting the
priced ledgers, after which it should be posted in the Purchase Account
Register (S. 2809).
(b) Receipt Notes (S. 726). In the case of Railways with
centralised inspection of supplied and centralised stores accounting, Part IV
of Form S. 726 will be received from the depot, after it has been taken into
account. The value of the supplies as shown on the voucher should be checked.
The voucher should then be handed over for posting the priced ledgers.
Note. —Under an organisation of decentrailsed Stores
Accounts Offices (see Note to paragraph 729-S) part V of the Receipt Note
should be paired with Part IV received with the Daily Summary of Credit to
Purchasers Account (S.28O8), the quantities being checked and a remark made on
Part V to that effect. The value shown or. Part V should be checked with the
amount shown in the periodical summary (S.2808) and the date of accountal of
the voucher in the priced ledgers should be note on the latter at the same
time.
2522 Receipt
Orders for imported items.—Receipt Order for imported items should not only
contain the rates for the item but also the rates of packing charges,
insurance, freight, customs duty, countervailing duty, etc. The receipt value
should then be calculated taking into account all the above factors. The
voucher should then be passed on for posting the priced ledgers.
2523 Workshop
Manufactures (S. 1548). The values for these items are calculated by these
Computer at the pre-determined rates advised by the Workshops periodically.
Whenever new items are undertaken for manufacture and the pre-determined rates
are not available, the estimated rate should be obtained and indicated on the
vouchers before they are passed on to the Computer Centre.
2524 Depot
Transfer Receipts (3rd foil).—Periodical summaries of Issues (showing also the
rit-s of issue) against the depots to which materials have been sent will be
prepared by the Stores Accounts Section The same will be handed over to the
concerned staff dealing with the Receiving Depot In case of local Stores
Accounts Office attached to each depot, the summary should be sent to the
Stores Accounts Officer of the receiving Depot. The rates and values required
for pricing the 3rd foil, should be taken from the above summary. The voucher
should then passed on to the EDP Centre for posting the priced ledgers and
preparation of unified class ledgers.
2525. Advice
Notes of Returned Stores (S. 1539).—The pre-determined credit rates will be
adopted for the valuing these returns. The detailed procedure regarding these returns
has been laid down in Chapter XVI.
2526.- Book Transfers
and Departmental and Accounts Stock Verification Sheets (Single Foils—These
vouchers should be priced at book rates by the Computer while posting the
Priced Ledgers.
2527. All issue
vouchers will be received in the Accounts Office of which one copy is
for-warded to the Computer Centre. The issue should be priced at book average
rates except the Sale Issue Notes which will be priced according to the terms
of sale. The calculation of the values should be made in the same lines as laid
down in Paragraph 2518.
2528. Adjustments
of Loss or Gain on Sales.-The irregular balances in the priced ledgers arising
out of the differences in value between the book rates and the tender, auction
or private sale rates should be adjusted on the same day by debit or credit to
stock Adjustment Account; Stock Adjustment vouchers (S. 2548) (one copy only)
should be prepared by the Computer at the time of posting priced ledgers and
posted in the ledgers. Periodical summary of such items should be prepared by
Computer Centre for such transactions separately. On receipt of such summary
from the Computer Centre, the Accounts Officer should see whether proper
sanctions exist for any losses on sales.
2529. Time Table
for Pricing and Valuation of Vouchers.—The Pricing and calculation of values of
vouchers should be finished on the same day the returns are received from the
depot.
2530. Priced
Ledgers should be maintained by the Group of Stores' according to the Grouping
of stores vide para 201-S. As the ledgers are printed on continuous stationery,
the Priced Ledgers printed should indicate the last date of transaction to
facilitate back reference. They should be maintained in Form S. 2530 shown
below (see paragraphs 1403 and 2605) or such other convenient form as may be
prescribed by FA & CAO. The ledgers are printed periodically in the order
of depot, ward, price list number and category.
2531. Deleted.
2532. Exhibition
of Maxima and Minima on the Priced Ledgers.—It is not obligatory to show the
maxima and minima stocks on the priced ledgers. During verification of stocks,
the Accounts Stock Verifiers should review the existing stock with reference to
the maxima and minima annual requirements and also with reference, if necessary,
to the statistics of monthly and annual consumption relating to the item. They
should report to the Stores Accounts Officer and the Depot Officer cases in
which the maxima or minima appear to be excessive in the light of actual
average consumption.
Note:—The Infomation regarding maxima, minima, annual
requirements etc. may be called for by the Verified from the Computer Centre
for the above purpose.
2533. Rules for upkeep.—The priced ledgers printed and
given by the Computer Centre will be bound and kept month-wise and Ward and
Group wise.
A list of priced ledgers opened for the month and closed should be furnished by
the Computer Centre and these lists should be filed along with the priced
ledgers for the month. A copy of the above list should be sent to the Depot
Officer for his information and record.
2534. Deleted.
2535. Opening of
Priced Ledgers.—Whenever the depot opens for the first time a ledger for an
item of stores, a manuscript advice (ARD for Master file) (S. 1404-A) in
duplicate will be sent to the Computer Centre through Accounts Office the same
day giving the following particulars, viz., unified group, price list number,
category and quality of stores (paragraph 2605), nomenclature and unit and
other particulars as are required for the Master file. On receipt of the
Advice, the Computer Centre will open the new Priced Led tier after exercising
(lie necessary validity checks.
2536. Index of
Priced ledger Cards.—The EDP Centre should furnish the Accounts Office with an
up-to-date list of all Priced Ledgers at least once a year. The list should
indicate all the relevant particulars such as depot, ward, price list number,
quality, unit of accountal, last date of issue, last date of verification,
quantity balance, value balance, book average rate, etc.
2537. Deleted.
2538. No change
should be made by the depot staff in any of the particulars of the cards opened
by the Computer Centre and accepted by the Accounts Office without the
concurrence of the Accounts Officer. Some important examples of the cases to
which this restriction applies are :—
(a) Changes in the nomenclature or unified list number as appearing in the
existing ledgers.
(b) Changes of the unit of accountal, such as an alteration
from weight to number, number to cubical contents, etc. In such cases, in
addition to obtaining the previous concurrence of the Accounts Officer and
Computer Centre, the actual stock should be verified by Accounts Stock
Verifiers in the existing unit and in the proposed unit and any discrepancy
discovered under the existing unit should be adjusted before the account in
terms of the new unit is posted in the ledgers.
(c) The splitting up of an existing item of nomenclature or
heading into further items or headings.
(d) The grouping of existing items of nomenclature or
headings into a single item or "' heading. In this and the former cases,
such splitting or grouping should be done in the presence of an Accounts Stock
Verifier.
2539. Closing of
Priced Ledgers.—When a depot proposes to close a card, it will send the
Accounts Office necessary advices (ARD for Master file) in Form S. 1404-B
giving full particulars as in the case of the opening of cards. The advice will
also state the number and date of the last voucher to be posted which will
enable the Accounts Office to see that all the vouchers forwarded by the depot
up to the time of closing have also been posted in the priced ledger. Before
the ledgers are closed it should be seen that there are no irregular balances
and there are no outstanding purchase orders against that item. The same should
then be forwarded to the Computer Centre for the closure of the item. The
Computer Centre will ensure that all the closure advices received are given
effect to after suitable checks.
2540. Items
deleted from the computer files in accordance with para 2539 should be listed
simultaneously by the Computer Centre and a copy of the above list should be
sent to the Depot Officer for his information and record.
2541. Re-opening
of Cards.—The same procedure as laid down for the opening of cards should be
followed in this connection,
2542. Deleted.
2543. The priced
ledgers are the basis of all stores accounting and the utmost care should be
taken to avoid errors therein. The following instructions are therefore laid
down for the guidance of ledger posters with a view to minimise all chances of
errors in ledger posting :—
(a) Up-keep of Priced Ledgers.—The Priced Ledgers should be
maintained neatly and safely as received from the EDP Centre periodically and
in proper order of depot and ward.
(b) Posting of Vouchers.—Before sending the vouchers for
posing for the day, it should be seen by the Accounts Office that the vouchers
in hand relate to correct depot, group and correct month.
(c) During the course of posting, the poster should take
care to see :—
(i) that the nomenclature and price list number of each item of stores as shown
in the return corresponds with the nomenclature and price list number of the
same item of stores in the priced ledgers. An item in a return should be sent
for punching only when the above particulars agree.
(ii) that the number and date of the voucher and the figures of quantities and
value are distinctly written in the vouchers without flourish and within the
lines/ cages allotted to the respective figures.
(iii) that no voucher received or any item thereof has been omitted to be
punched or posted in the priced ledgers or has been posted twice by the
Computer Centre. For this purpose, the punch operator should write the letter
'P' against each item in a voucher after it has been punched and ' V after it
has been verified. A detailed list checking should be made comparing with the
totals already arrived at.
(d) The Computer Centre should punch all the vouchers
receive by them on the date of their receipt. Should a ledger punching and
posting work fall into arrears for any reason e.g. rush of vouchers on a
particular day, Computer room/Punch room is expected to clear the same on the
same date. In cases of sudden illness, or other absences beyond one's control,
the supervisor of the section should make arrangements, to get the work done
with the approval of the competent authority, and a note should be kept of the
vouchers for the correct punching and verification of which responsibility will
rest on the person to whom the work is allotted.
(e) During the course of posting the vouchers, the Computer
Centre should print a statement in FormS. 2543 or such other form as may be
prescribed by FA & CAO, giving particulars of Unified List Number, Price
List Number wherever it is found that :—
(i) the receipt rate varies from the book rate by 10 per cent or more;
(ii) credit balances have appeared either in quantity or
value;
(iii) quantities exist without value or values without
quantities;
(iv) the unit in vouchers varies from the P.L. Unit.
(f) Adjustment Receipt Notes.—Sometimes the Controller of Stores sends
Adjustment Receipt Notes to set right mistakes committed in the original
Receipt Notes. In such cases, the Adjustment Receipt Notes should bear
reference to the original Receipt Note Number, R.O. Number and date and the
original rate and value of the item.
(g) Other Adjustments such a; write-back, under or
overcharge statements, etc.—In all such cases, the Accounts Office should
verify the posting of the original transaction and should give a cross
reference manually against the posting Adjustment Voucher
(h) Posting of Stock Verification Sheets.—
(i) While posting stock sheets, both departmental and accounts, the Computer
Centre should see the date of verification and carefully compare the opening
balances shown on the stock sheet with the balance shown on the priced ledger
for the same date and should then proceed to post the stock sheet.
(ii) Discrepancies between Opening Balance and Book Balance as per Priced
Ledgers.-If there is any discrepancy in the ground balance on the date of
verification the difference between the ground balance and the book balance
should be posted in the priced ledgers bringing the priced ledger balance in
accord with the actual ground balance. These differences should be valued at
the book average rate prevailing on that date.
(iii) When the discrepancy is subsequently traced any further adjustment on
account of the resultant deficiency or excess should be adjusted through a
supplemental stock verification sheet prepared in the Accounts Office for the
purpose. This stock verification sheet should be assigned the same number as
the original one with the word 'Supplemental' added thereto.
(i) Certification of verification.—At the end of
verification of the stock of each unified group, the Computer Centre, on a
request from the Accounts. Officer, should print a list of items, if any, which
have not been verified during the programme period, with a view to have such
omissions in verifications rectified. This should be ensured by providing for
the date of verification in Computer files.
(ii) Discrepancies between Opening Balance of Numerical and Priced Ledgers.—If
there is any discrepancy in the depot and accounts opening balances as on the
date of verification the matter should be investigated at once by reference to
the numerical ledger card (if available in the station) and the discrepancy
rectified before the results of verification are posted in the priced ledgers.
(iii) If the Numerical Ledger is most immediately
available, the priced ledger balance should be inserted in the column provided
for the purpose, in the Stock Verification Sheet, and the difference between
the balance and the actual balance by count should be priced, value and posted
in the priced ledgers thus bringing the priced ledger balance in accord with
the actual ground balance. At the same time the discrepancy between the depot
ledger and the accounts ledger should be noted down in the register (S. 2577),
to be maintained for reconciliation of depot ledgers with priced ledgers. The
depot ledger card should be cither called for at once or the matter left over
till the next reconciliation is due, depending on whether the amount of
differences is above Rs. 50 or Rs. 50 and below; when the discrepancy is traced
and set right, any further adjustment on account of the resultant deficiency or
excess should be adjusted through a supplemental Stock Verification Sheet
prepared in the Account Office for the purpose. This Stock Verification Sheet
should be assigned the same as the original one with the word
"Supplemental" added thereto
(k) Certificate of Verification.—At the end of the
verification of the stocks of each class of stores, a ledger poster should go
through his ledgers and put up list of items, if any, which have not been
verified, with a view to have such omissions rectified.
(i) Disposal of Completed Ledger Sheets.—The ledger poster
should particularly see that completed sheets are transferred to suitable
binders or cabinets as soon as new continuation sheets have been opened in
their place. All such binders or cabinets should be suitably labelled and all
completed sheets should be put in them in the order of their depots, class and
price list numbers and along with the previous sheets for the same item.
2544. Deleted.
2545. Vouchers
posted as Minus Receipts.—The following return will be posted in the ledgers as
minus receipts :
(a) Depot Transfer Issue Notes.—The se will be posted as minus receipts in the
issuing depot and as plus receipts in the receiving depot and accounted for
accordingly in all subsequent stages of the accounts.
(b) Book Transfers.-The posting in the card, stocks from which has been
transferred will be shown as minus receipt and accounted for similarly in all
other stages of accounts.
(c) Deficiencies in stocks and all other transactions to debit of 'Stock
Adjustment Account.-Will be posted as minus receipts and accounted for
accordingly. The Stock Adjustment Account itself will however exhibit the debits
and credits separately.
2546. Vouchers
originating in the Accounts Office.—In addition to the vouchers mentioned in
paragraphs 1410 and 1411 which will be initiated by the depot, paragraphs 2547
and 2548 show the vouchers which will;,be prepared in the stores Accounts
Office and posted in the priced ledgers only.
2547. Under and
Overcharge Returns.—When an issue made on an issue note or a receipt through an
advice note has been debited or credited at wrong rates or values, an
undercharge or overcharge return in form S. 2547-A(for receipt transactions) or
S. 2547-B (for issue transactions) should be prepared adjusting the error and
the return should be posted in the priced ledgers and accounted for by
inclusion in the debit or credit summaries of the department concerned.
Form No. S. 2547 A & B
(1) Party against whom debited or credited.
(2) Original voucher number and date.
(3) Class and price list number.
(4) Quantity issued or received.
(5) Rate charged. Value.
(6) Correct Rate.
(7) Value.
(8) Overcharge.
(9) Undercharge.
(10) Allocation of original voucher.
(11) Remarks.
2547-A. Under and Overcharges advised by the Supplying
Departments or firms.—Such 'undercharges uptoRs. 200 in each case may be
adjusted direct to Stock Adjustment Account without routing through the Priced
Ledgers and where such undercharges or overcharges exceed Rs. 200 in each case,
the same should be accounted for in the Priced Ledgers like ordinary 'receipt'
to be merged automatically in the average rates for subsequent issues or adjusted
in due course against the Stock Adjustment Account if there is no stock in hand
or stock so little that undercharges or overcharges would affect the average
rate by 10 per cent or more as compared with the current market rate.
Undercharges and overcharges in respect of stores for special works or stores
used directly on works excepting those chargeable to Workshop Manufacture
Suspense in Production Units should however be adjusted direct against the
works concerned.
2548. Stock
Adjustment Vouchers.—These are vouchers for money values only in connecon with
debits or credits to Part II and III of Stock Adjustment Account by -contra
adjustment against the head 'Stores with supporting entries in the priced
ledgers. The entries in the priced ledgers will be made as receipts and minus
receipts. The form shown below should be used for the purpose.
2549. Adjustment
for Rupee one or less.—Such adjustments on account of under or over charges or
against the Stock Adjustment Account should not, however, be made for petty
sums not exceeding one rupee. In such cases, a remark should be made on the
priced ledger manually against the posting of the item in question to show that
the error has been noticed.
2550. Deleted.
2551. Deleted.
2552. Deleted.
2553. Disposal of
vouchers after posting Priced Ledgers.—After the posting of each day has been
completed by the Computer Section, the Computer Section will forward all the
vouchersy to Priced Ledger Section for onward transmission of the same to the
departments/Suspense Accounts Section along with their respective summaries.
2554. With the object
of assisting the Controller of Stores in maintaining the Price List upto date
and at the same time of removing from the priced ledgers large differences
between the book average rates and the rates published in the Price Lists, a
clerk should be assigned the duty of examining at least once a week the special
print outs given by the Computer Centre (S. 2543 and S. 2563) and of taking
action on the proposals relating to rate revision contained in the register. He
should consult the relevant priced ledgers and submit 'proposal for revision of
price list rates' in form S. 2554 showing the following particulars.
Form No. S. 2554
(1) Class.
(2) P.L. No.
(3) Description of Stores.
(4) Unit.
(5) Book rate.
(6) Price List rate.
(7) Quantity in stock.
(8) Current Market Rate.—
(a)
Purchase Order number and date.
(b)
Receipt Note number and date.
(c) Rate.
(9) Suggested new rate.
(10) Controller of Stores Orders.
2555. In order to
avoid duplication of work the rate revision clerks of each depot should prepare
the statement only for the items for which the depot is the 'main depot'. Where
it is not found necessary to have individual clerks for individual depots, it
should be ensured that this phase of work is completely covered on a programmed
basis.
2556. The lists should
then be forwarded to the Controller of Stores who should decide whether and
when the rate should be revised, and what such revised rate shall be.
2557. The Controller
of Stores may also originate revision of rates as in cases of store obtained on
contracts.
2558. The correction
slips to the Price Lists will be issued by the Controller of Stores.
2559. Deleted.
2560. Revaluation of
Balances.—The value of balances in the ledgers will also be corrected at the
revised rate by preparing a stock adjustment voucher for all such corrections,
subject to the rule that there should be no writing up to the values over the
actual cost paid for purchased stores in stock (paragraph 210).
2561. Irregular
Balances.—With the object of removing from the priced ledgers all irregular
balances, ledgers should be continuously over-hauled by ledger 'reviewers'.
This work should be arranged so as to complete a review of all the ledgers once
every six months. The reviewers are expected to notice all lapses and to so
conduct the review works as to ensure that all irregularities are brought to
notice. Among the more important irregularities are :
(a) Credit balances in quantity or value.
(b) Value without quantity.
(c) Quantity without value.
(d) Price List rate varying from the book rate by 10 per cent or more.
(e) Adjustment carried out without the preparation of vouchers signed by a
Gazetted Officer.
(f) Items which are overdue for stock verification.
(g) Incomplete headings.
(h) Stocks not having been issued for more than two years (excluding emergency stores).
(i) Stocks heavy as compared with normal issues.
To facilitate review, the Computer Centre should furnish a
statement of such irregularities periodically. The Computer Centre should also
at the same time ensure that suitable machinery has been provided for in the
system to arrest the irregularities (a) to (e) entering the Computer tile.
2562. Scrutiny by
Section Officer and Stores Accounts Officer.—The Section Officer should
scrutinise the irregularities pointed out by the Computer Centre at least once
in six months. He should submit a report to the Accounts Officer indicating the
results of scrutiny. The work of the reviewer should come under the scrutiny of
the Accounts Officer at least once in a year.
2563. Review of
Registers.—All irregularities noticed by the reviewers or the Section Officer
should be noted down in special registers (S. 2563) (Manuscript) and put up for
the information of the Accounts Officer on the 1st of each month. The
irregularities noticed by gazetted officer will be recorded in a separate
register. All necessary action to set right the irregularities should be taken
very promptly.
2564. Importance
of Review Works.—The review of ledgers as a daily item of work is of the
greatest importance, and when it falls into arrears, differences needing
adjustments swell into abnormal figures and considerable time it lost by the
clerks in tracing reasons and causes for these differences. The review work
should therefore be conducted systematically and properly, a proper programme
being drawn up for the work monthly.
2565. Review Procedure.—The Computer centre should
prepare a statement for all the items of stores scheduled to be taken for
review during the month, giving the total value of the quantity on hand,
multiplied by the current book rate, the actual book value and the difference
between the actual book value and the calculated value. If the difference is
less than Rs. 200 a general scrutiny may be made and the difference adjusted.
Differences higher than this limit should be investigated and necessary stock
adjustment vouchers prepared with full explanations for the differences
recorded thereon before submission to the gazetted officer.
2566. Deleted.
2567. Deleted.
2568. The
reviewers and the staff preparing adjustments are responsible for the
correctness of all adjustments specially those affecting the suspense heads of
account, e.g. The Stock Adjustment Account. Cases in which the facts are not
clear and approximate adjustments are proposed to be made should be carefully
investigated personally by the Section Officer incharge of the section and
authorised by a gazetted officer. The Section Officers incharge of the section
are personally responsible to see that all adjustments are based on facts, and
that no adjustment is based on inadequate evidence. Where a write-off occurs,
the sanction of competent authority should be obtained. The existence of a
credit balance in the Stock Adjustment Account, is no authority for adjustment
without sanction. Any adjustments based on speculative or incomplete data
require the previous sanction of the Controller of Railway Accounts.
2569. All cases
where the Stock Adjustment Account is affected to the extent of Rs. 500 or over
should be examined by the Accounts Officer. All adjustments of Rs. 5,000 or
over should be reviewed by the Deputy Chief Accounts Officer and those of Rs.
10,000 or above by the Financial Adviser and Chief Accounts Officer.
2570. Other
duties of Reviewers.—In addition to the independent review conducted by him in
accordance with the foregoing instructions, a reviewer should also conduct the
investigation of the items listed by Computer Centre at the time of posting the
priced ledgers. He will be responsible for clearing these items.
Multiple choice questions:
- What is the primary location for the Stores Accounts
Office?
a)
In the General Manager's office
b)
In the Chief Accounts Officer's office
c)
In the Chief Engineer's office
d)
In the Chief Operations Officer's office
Answer: b) In the Chief Accounts Officer's office
- What should a 'Local' unit of the Stores Accounts
Office do when attached to a more important stores depot?
a)
Oversee the sales of store items
b)
Manage the physical security of the stores depot
c)
Deal with all the accounting of the receipts and issues of stores
d)
Provide catering services to depot staff
Answer: c) Deal with all the accounting of the receipts and issues
of stores
- Which of the following is NOT a function of the Stores
Accounts Office?
a)
Compiling stores accounts and preparing periodical returns
b)
Verifying stocks of stores in depots and on the line
c)
Overseeing the physical security of the depot
d)
Checking initial documents of receipt and issue
Answer: c) Overseeing the physical security of the depot
- The Stores Accounts Officer is responsible to the Chief
Accounts Officer for which of the following?
a)
The efficiency of the depot's physical operations
b)
Maintaining the security of the depot
c)
The efficient working of his branch
d)
Managing the transportation of goods
Answer: c) The efficient working of his branch
- In maintaining priced ledgers of stores, what is one of
the tasks under Group A?
a)
Scrutiny of all unmatched vouchers
b)
Checking of punched data as per data processing procedures
c)
Revision of rates
d)
Review of priced ledgers
Answer: b) Checking of punched data as per data processing
procedures
- What should be done if any vouchers are missing or
shown as cancelled?
a)
Ignore the issue
b)
Issue a new voucher immediately
c)
Conduct a search for the missing vouchers and note the issue in a register
d)
Cancel the corresponding transactions
Answer: c) Conduct a search for the missing vouchers and note the
issue in a register
- The calculation of values of all vouchers, except
Receipt Notes and Sale Issue Notes, is done how?
a)
Manually by the Depot Officer
b)
Automatically by the Computer at the book average rate
c)
By the Stores Manager on-site
d)
Through an external auditor
Answer: b) Automatically by the Computer at the book average rate
- For imported items, what must be included in the
Receipt Order?
a)
Only the rates for the item
b)
The rates for the item and packing charges only
c)
Rates of packing charges, insurance, freight, customs duty, and countervailing
duty
d)
The rates for the item and any applicable local taxes
Answer: c) Rates of packing charges, insurance, freight, customs
duty, and countervailing duty
- What action is taken if there is undue delay between
the receipt of stores in the depot and their accountal in the Priced
Ledgers?
a)
The stores are sent back to the supplier
b)
The issue is reported to the Chief Accounts Officer
c)
A note is made in the discrepancy register
d)
Immediate investigation and correction are required
Answer: d) Immediate investigation and correction are required
- When should vouchers be made over by the Depot to the
Stores Accounts Office?
a)
Monthly
b)
Quarterly
c)
Annually
d)
Daily
Answer: d) Daily
11.What should be done if a credit
balance appears in the priced ledgers?
- (a) Ignore it
- (b) Adjust it on the same day by debit or credit to the
Stock Adjustment Account
- (c) Wait for the next periodical summary
- (d) Notify the depot officer
Answer: (b) Adjust it on the same day by debit or credit to the
Stock Adjustment Account
12.What is the main purpose of
maintaining priced ledgers according to the guidelines?
- (a) To facilitate easy access to stock information
- (b) To provide a basis for all stores accounting and
avoid errors
- (c) To keep a record of all transactions for legal
purposes
- (d) To ensure accurate stock levels at all times
Answer: (b) To provide a basis for all stores accounting and avoid
errors
13.What should be done before
sending vouchers for posting?
- (a) Ensure they are dated correctly
- (b) Ensure they relate to the correct depot, group, and
month
- (c) Verify the quantity and quality of items
- (d) Confirm they have been approved by the depot
officer
Answer: (b) Ensure they relate to the correct depot, group, and
month
14.What action should be taken when
discrepancies between the ground balance and book balance are discovered during
stock verification?
- (a) Ignore the discrepancies
- (b) Report them to the depot officer immediately
- (c) Post the differences in the priced ledgers at the
book average rate
- (d) Adjust the differences in the numerical ledger only
Answer: (c) Post the differences in the priced ledgers at the book
average rate
15.What is required when reopening a
card for an item of stores?
- (a) Notify the Accounts Officer only
- (b) Follow the same procedure as laid down for opening
new cards
- (c) Submit a formal request to the Computer Centre
- (d) Ensure no outstanding purchase orders against the
item
Answer: (b) Follow the same procedure as laid down for opening new
cards
16.How should adjustment receipt
notes be handled?
- (a) Treat them as new transactions
- (b) Cross-reference them with the original receipt note
number
- (c) Post them directly without verification
- (d) Adjust them at the end of the month
Answer: (b) Cross-reference them with the original receipt note
number
17.What is the procedure for
handling vouchers posted as minus receipts?
- (a) Post them as plus receipts in the receiving depot
- (b) Ignore them in the issuing depot
- (c) Account for them as debits in all subsequent stages
- (d) Handle them as stock adjustments only
Answer: (a) Post them as plus receipts in the receiving depot
18.What should be done if a ledger
posting work falls into arrears?
- (a) Wait for the workload to reduce naturally
- (b) Clear the arrears on the same date
- (c) Notify the depot officer for further instructions
- (d) Ignore the arrears until the next periodical summary
Answer: (b) Clear the arrears on the same date
19.When should discrepancies between
opening balances of numerical and priced ledgers be investigated?
- (a) At the end of each month
- (b) Whenever discrepancies are found
- (c) During the next annual audit
- (d) Only when the amount of difference is significant
Answer: (b) Whenever discrepancies are found
20.What is the primary
responsibility of the Computer Centre regarding vouchers received for posting?
- (a) Store them securely
- (b) Punch all vouchers on the date of receipt
- (c) Verify the accuracy of quantities and values
- (d) Forward them to the Accounts Office for approval
Answer: (b) Punch all vouchers on the date of receipt
21. What should be done when an issue or receipt is debited or
credited at wrong rates or values?
- A. Ignore the error and proceed with regular operations
- B. Prepare an undercharge or overcharge return to
adjust the error
- C. Forward the error report to the Controller of Stores
- D. Rectify the error in the next month's statement
Answer: B. Prepare an undercharge or overcharge return to adjust
the error
22. When can undercharges up to Rs. 200 be adjusted directly to
the Stock Adjustment Account?
- A. Only after approval from the Accounts Officer
- B. Without routing through the Priced Ledgers
- C. Only if the discrepancy is found in the numerical
ledger
- D. After verification by the Depot Officer
Answer: B. Without routing through the Priced Ledgers
23. Which form is used for money value adjustments connected
with debits or credits to Part II and III of the Stock Adjustment Account?
- A. S. 2547-A
- B. S. 2547-B
- C. S. 2548
- D. S. 2554
Answer: C. S. 2548
24. When should adjustments on account of under or overcharges
or against the Stock Adjustment Account not be made?
- A. For amounts exceeding Rs. 500
- B. For sums not exceeding one rupee
- C. For discrepancies reported by the Computer Centre
- D. For stock adjustments above Rs. 200
Answer: B. For sums not exceeding one rupee
25. What should be done with vouchers after posting Priced
Ledgers?
- A. Forward them to the Depot Officer
- B. Archive them in the central records office
- C. Transmit them to departments/Suspense Accounts
Section with their respective summaries
- D. Destroy them after a month
Answer: C. Transmit them to departments/Suspense Accounts Section
with their respective summaries
26. What is the main purpose of assigning a clerk to examine
special printouts given by the Computer Centre?
- A. To monitor stock levels
- B. To assist the Controller of Stores in maintaining
the Price List up to date
- C. To audit financial records
- D. To oversee daily transactions
Answer: B. To assist the Controller of Stores in maintaining the
Price List up to date
27. What information is included in the form S. 2554 for
proposing rate revisions?
- A. Price List number and stock quantity only
- B. Class, P.L. No., description, unit, book rate, Price
List rate, quantity in stock, current market rate, suggested new rate, and
Controller of Stores Orders
- C. Controller of Stores Orders only
- D. Suggested new rate only
Answer: B. Class, P.L. No., description, unit, book rate, Price
List rate, quantity in stock, current market rate, suggested new rate, and
Controller of Stores Orders
28. Who decides whether and when the rate should be revised
according to the proposals submitted?
- A. Accounts Officer
- B. Controller of Stores
- C. Depot Officer
- D. Section Officer
Answer: B. Controller of Stores
29. How often should the reviewers complete a review of all the
ledgers?
- A. Once a month
- B. Once every three months
- C. Once every six months
- D. Annually
Answer: C. Once every six months
30. What action is required for credit balances in quantity or
value during ledger reviews?
- A. Ignore them if they are below Rs. 100
- B. Adjust them immediately in the priced ledgers
- C. Report them to the Computer Centre for correction
- D. Record them manually without any adjustment
Answer: B. Adjust them immediately in the priced ledgers
31. Who scrutinizes the irregularities pointed out by the
Computer Centre at least once in six months?
- A. Controller of Stores
- B. Accounts Officer
- C. Section Officer
- D. Depot Officer
Answer: C. Section Officer
32. What should the Computer Centre prepare for all items of
stores scheduled for review during the month?
- A. A list of current market rates
- B. A statement giving total value, actual book value,
and the difference between them
- C. A detailed report on stock discrepancies
- D. An inventory of all received and issued items
Answer: B. A statement giving total value, actual book value, and
the difference between them
33. Who is responsible for the correctness of all adjustments,
especially those affecting the suspense heads of account?
- A. Controller of Stores
- B. Section Officers in charge of the section
- C. Depot Officers
- D. Computer Centre operators
Answer: B. Section Officers in charge of the section
34. At what amount should adjustments affecting the Stock
Adjustment Account be examined by the Accounts Officer?
- A. Rs. 200
- B. Rs. 500
- C. Rs. 5,000
- D. Rs. 10,000
Answer: B. Rs. 500
35. What additional duty does a reviewer have besides
independent review according to the instructions?
- A. Supervising the depot staff
- B. Conducting stock audits
- C. Investigating items listed by the Computer Centre at
the time of posting the priced ledgers
- D. Preparing monthly financial reports
Answer: C. Investigating items listed by the Computer Centre at the
time of posting the priced ledgers
Comments
Post a Comment