Administration Manual - B.E.S.T. Undertaking.

connectivity between Accounts Department and Cash Dept.,
it is possible to know the divisionwise expenditure by down
loading the data from server. It is also facilitate from which
Bank the payment is made. The major expenditure account
against the purchase of materials is controlled by keeping
Local Supply Control A/c and whenever payment is required
to be made, this A/c is debited and Bank A/c is credited.
After receipt of allocation storewise from the M.M.
Department, the local supplier purchase A./c is credited and
Stock A/c is debited. Similarly various departments are also
holding the imprest cash whenever any expenditure is
incurred through imprest cash, the respective expenditure
A/c is debited and imprest cash A/c is credited. At the time
of recoupment, the imprest cash A/c is debited and Bank A/c
is credited.
All such day book receipt and payment entries are
brought into the journal ledger of Accounts Dept.
4.2. Monthly Accounting:
In addition to the daily posting from receipt and
payment day book, there are number of entries which passed
through Journal for allocating the income & expenditure,
adjustments, rectification, clearance of Suspense A/c etc.
Some of the important monthly Journal Entries are as under
–
1. Labour Finance statement
2. Material issue/Return Statement
3. Cost Statement – Gen. & Bldg. ]
4. Cost Statement – Supply ] Material
5. Cost Statement – Transport ]
6. Paysheet Earning Allocation – Employees
7. Paysheet Earning Allocation - Officers
8. Refrigerator hire charges – CWO, CMO, DEMTS etc
9. DEA of Earnings
10. Electric Supply Receipts – by Meter
137