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

867
a J/E is prepared debiting the Revenue – interest on Consumers Deposit Account and
crediting Unclaimed Interest Account.
The Consumers Department transfers entries of deposits eligible for
interest from the Consumers Deposit Registers to Transfer Registers
and then calculates interest on the deposits for the periods shown in
the Transfer Registers.
The consolidated figure for the accrued interest is thus arrived and
advised to the Chief Accountant. In view of the voluminous work
involved in checking these transfer entries and the interest
calculations, only a test check is made by the Audit Clerks.
8.7.36.3 J/E in respect of adjustment of Consumers Deposit:
When a meter is disconnected and an account is closed, any outstanding amount not
paid by the consumer is adjusted against his deposit held by the Undertaking. All such
adjustments against deposits are recorded in the Consumers Department Adjustment
Register, which are checked by Audit at the time of checking refund bills. At the close
of the Financial Year, a J/E advice is prepared by the Consumers Department for
advice to the Accounts Department to debit Consumers Deposit Account and credit
Electric Supply Debtors Account. The amount advised is the total of adjustment made
in the year, as per the Consumers Deposit Adjustment Register which is verified after
which the J/E advice is certified.
8.7.36.4 J/E in respect of adjustment of interest:
In addition to the adjustment of Consumers Deposit any interest due to
a consumer, is adjusted against the outstanding amount when
necessary. The entries of such adjustments are verified in the Interest
Register while checking refund bills. The total of such adjustments
made during a year is intimated to the Accounts
Department for debiting Consumers Deposit Interest Account and
crediting Electric Supply Debtors Account. The J/E advice is
accordingly prepared by the Consumers Department which is then
certified by Audit.
8.7.36.5 Advice – regarding: Outstanding Interest: