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

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v) Contra entries from the withdrawal side to the deposit side of
the Pass Book are checked.
At times the State Bank of India without dishonouring cheques, debits
the amount in the Pass Book and later on passes credit for the same.
Such entries are known as contra-entries. They are checked from the
withdrawal side to the credit side of the Pass Book.
vi) Bank advices in respect of amounts transferred to the current
account are verified.
Certain banks, with sanction of the BEST Committee, are authorized to
collect and pass receipts on our behalf against electricity bills. At the
end of each week these
banks transfer amounts so collected to our Current Account with the
State Bank of India after retaining a minimum balance of Rs.1,000/-.
The amounts credited in the current account are verified with the bank
advices.
vii) Entries in respect of the following in the Daily Cash Balance
Books are checked.
1) Interest paid on Municipal Loans.
2) Cheques drawn in favour of Supdt. Cash for Petty Cash.
3) Cancelled Cheques’ amounts.
4) Amounts of Debits noted in respect of dishonoured cheques.
5) Proceeds of Fixed/Call Deposits realized.
6) Interest on investment.
7) Total amount of cheques drawn day-to-day as per the Cheques
Payable Books.
8) Day-to-day totals of amounts banked – from the Bank
Clearance Register.
9) Amount in respect of Telephone Bills and Electricity Bills
debited through ECS payment as per the advice sent by
respective department.