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2902. Capital.—Major Head—67A—Construction of State Railways-(Commercial) and 67B Construction of State Railways—(Strategic). Minor Head—71 Stores Suspense and 73 Miscellaneous advances Sub-beads : 7110—Purchases Imported 7120—Purchases Indigenous Purchase by Railways including Railway Board. 7130—Purchases through Centralised Agencies such as DGS & D, etc, 7140—Sales other than Fuel 7150—Sales (Fuel). 7160—Stores. 7170—Stores-in-Transit 7180—Stock Adjustment Account. 7190—Stock Adjustment Account—Other items 2903. For facility of reference and reconciliation with the connected subsidiary registers and accounts, the Head 'Stores' is divided into the following sub-heads and detailed heads and sub-detailed heads.
2904. Revenue.—The following are the heads of accounts under Revenue : Working Expenses : (i) Revenue Abstracts (ii) Miscellaneous Advances (iii) Deposits-miscellaneous (iv) Transfers-Divisional (v) Transfers-Railways. 2905. Transactions of receipts or payments in cash are accounted for in the following manner. In the case of moneys due to the railway, bills or other demands for payment are presented by the Railway to the parties concered, and the money is paid into Station booking offices, or to the Treasurer of the Railway. In such cases of receipts of cash, the foils of Miscellaneous Cash Remittance Notes or other cash receipts given by the treasurers show the particulars of service or stores paid for and the allocation; all such cash transactions should be posted (in Part II) of the Journal, by credit to 'Sales', etc., and debit to Transfers Revenue'. The Journal is posted from the journal slips, the account registers for the heads of accounts credited being posted directly in detail from the receipts for cash. In the case of payments by the Railway of cash for supplies or services, the Abstracts of Bills show the details of allocation for such payments. The Journal is posted directly from these abstracts, the supporting accounts registers being posted directly from bills and the vouchers in support thereof. Note.—In case of Railways, other than Open Line Railways, where the Capital Heads are alone operated, the Head 'Transfers Revenue' will not be operated. 2906. Adjustments on account of transactions between the Stores Department and other departments of the same railway are generally carried out internally in the Accounts Office, while those with other Railways are carried out through (Transfer Certificates'. Adjustments with other Government Departments are carried out through either the 'Exchange Accounts' or 'Cash Payments'. 2907. Transfer Certificates.—Transactions not involving the actual receipt or payment of cash relating to other divisions and branches (if the transfer certificate' procedure is adopted for internal adjustments) or other railways will be passed on to the party concerned through transfer certificates, which for facility of reference are called 'Local Transfer Certificates' or 'Advices of transfer debits or credits' in the case of transfers relating to the divisions or branches of the home railway, and 'Foreign Transfer Certificates' in the case of those relating to other railways. 2908. Local Transfer Certificates.—The adjustments in connection with the local transfer certificates will be carried out by employing a system of minus adjustments, i.e. the division or branch originating the transaction debits or credits to the head Transfers-Divisional which is accepted by the responding party by a minus debit or minus credit against the above head. The main idea underlying the above system is that the transactions under the head "Transfer Divisional' for the whole line for a particular month should be nil, unless, of course, there remains certain local transfer certificates unadjusted, at the end of the month. In the case of foreign transfer certificates the creditor foreign railway always raises a debit against the debtor railway, which is accepted by the latter by contra credit against the transfer head.
2909. Local transfer certificates will be issued from and received in the Stores Accounts office direct, while foreign transfer certificates will be dealt with exclusively in the Book Section of the Headquarters Accounts office. The various processes relating to these are described in paragraphs 2910 to 2917. 2911. Date up to which Transfer Certificates may be issued.—All transfer certificates should be issued up to a date not later than the 12th of the following month, as the Transfer Certificate received in the office against whom it is issued after the 13th will be responded to in the next month's accounts, thus increasing the outstanding at the end of the month under the head "Transfers-Divisional". 2912. Acceptance of Transfer Certificates in full.—All transfer certificates should be accepted in full; but if the entire amount of any transfer certificate does not relate to the office again-which it is issued, it should be returned unaccepted under the signature of a Gazetted Officer. 2913. Transfer Certificates Registers.—To watch the proper disposal of the transfer certificates issued and received, two manuscript registers should be maintained one each for outward and inward transfer certificates, the following forms, separate pages being allotted for each division, branch or section concerned. No. S. 2913-A Form OUTWARD TRANSFER CERTIFICATE REGISTER
Form No. S. 2913-B INWARD TRANSFER CERTIFICATE REGISTER
2914. Schedule of Transfer Certificates.—After the issue of all transfer certificates for the months for which the last date is the 12th of the following month, a consolidated schedule (Form S. 2914), showing the transfer certificate No. and amount, separately for debit and credit, for all transfer certificates issued against each section, division and branch should be prepared and issued. These schedules arc of importance in the reconciliation of the head 'Transfers— Divisional, Branches or Section' and should be very carefully prepared. The Transfer Certificates from other offices should be carefully scrutinized, before being returned. 2915. These schedules should be returned to the issuing office by about the 18th of the following month to which they relate, and in case of non-receipt of accepted schedules, telegraphic reminders should be issued so that the transactions relating to a month may be duly accounted for in the same month's accounts. 2916. Adjustment with Foreign Railways.—In case it is desired to issue a transfer certificate against a foreign railway, the relevant voucher or, in the case of cash payment or recovery, a bill (quoting reference to the authority) along with the necessary certificate should be sent to the Book Section with a memo showing the allocation against the amount to be adjusted in the Stores Accounts Office. The Book Section, on receipt of the acceptance by the railway concerned, will issue a memo intimating the fact, when necessary adjustments may be carried out. Similarly the Book Section will send with a memo, any foreign railway transfer certificates received by it for acceptance and the latter should be adjusted in the Stores Accounts Office after necessary verification. 2917. The mema received from the Book Section should be registered in the inward transfer certificate register and their proper disposal watched by the Journal Keeper in the same manner as in the case of inward transfer certificates. 2918. Adjustment with Government Departments other than Foreign Railways.—All exchange accounts with Civil, Military Postal and Telegraph Departments, where exchange account facility is available, will be controlled by the Book Section. The items pertaining to the various branches will be intimated to or by it through a mema sent along with the necessary vouchers. These mema should also be registered in the transfer certificates register and adjusted after due verification. 2919. In case it is proposed to originate an entry under the above head, the Journal slip should be prepared on the authority of a bill accepted by the officer against whom the item, is adjustable. 2920. Summaries of Transfer Adjustments.—Summaries of all transfer adjustments with other railways, and accounting offices of the Civil, Military and Postal authorities should be prepared and sent along with the consolidated Journal entry to the Books Section. Reference should be quoted to the mema of the Book Section through which the intimations for adjustment were received, and necessary vouchers sent in support of adjustments originated by the Stores Accounts Office. 2921. This record should be kept in a form as shown below, to bring together the whole of the debits and credits under the supense heads mentioned above.
Form No. S. 2921
2922. The journal will be maintained in two parts with separate folios each month for each part. Part I will collect all the transactions connected with the receipt of stores, Part II with relate to the issue of stores. The following will be the nature of Journal entries affecting each head of account in the Journal (vide Paragraphs 2902 to 2904).
2923. Purchases Imported (Capital 7110).—The debit to the head will be through Advice of Payments (received from the High Commission of India by credit to Transfers Railways Secretary Railway Board) or the debit scrolls issued by Reserve Bank of India or cash. This account will be credited through a Receipt Advice by contra debit to P. 7160 'Stores in Stock'. If the consignee Railway happens to be a foreign Railway, the debit to the head will be through a Foreign Transfer Certificate. 2925. Deposits Miscellaneous.—Besides the items appearing under the head as mentioned in paragraph 2729, this head will be credited with the value of stores obtained on loan from other Railways or Government departments by debit to 7160 'Stores' and will be debited per contra, when the Stores are returned. 2926. Miscellaneous Advances (Capital 7300).—This head will be debited with the value of stores issued on suspense account by credit to 'Stores' and will be credited when the stores are returned by debit to 'Stores' and will be credited when the stores are returned by debit to 'Stores' or to the final heads of account. 2927. Sales (Capital 7140 and 7150).—In the case of cash sales, auction sales or sales by tender where the value of material sold by the Railway is received in advance of actual issue of stores, the credit to this account will appear earlier than the debit. The credit will be by debit to 'Cash'. In other cases, i.e. direct or tender sales to other Railways or Government departments the debit will appear first by credit to 'Stores' for the value of stores at the sale rates. The credit will be received through Transfer Certificates or Exchange Accounts by debit to the 'Transfer Railways'. 2928. 'Stores' -(Capital 7160).—The transactions affecting this head are in respect of the value of stores received or issued from a stores depot. The debits to this head are by credit to the following heads, in addition to those already mentioned in paragraph 2923 et seq. (i) The 'Transfers—Workshops' on account of manufactured articles supplied to store depots and also the value of stores returned to depots. (ii) To 'Transfers-Divisional' on account of stores returned by departments to depots. (iii) To Imprest Accounts (all categories) Engineering Plant Account and Surplus Stores Account on account of Stores returned to the Stores Depots. (iv) To the Depot Transfer Account, (v) To the Stock Adjustment Account. Note.—All items that can be identified abilities chargeable to Works for which separate Works Registers exist, should not pass through 'Stores in Stock' or any other Stores Suspense head and should be debited/credited to final heads of account. 2929. The credit to the head 'Stores' will be by debits to Transfers Workshops, Transfer Divisional, the Depot Transfer Account, Store-in-Transit account and the Imprest Account (all Categories), in addition to the heads of accounts already mentioned in paragraphs 2923 to 2927. 2930. The Stock Adjustment Account.—The debits and credits to this head of account will be chiefly by contra adjustment to 'Stores' (Capital 7160) except in the case of the adjustment against the Revenue Abstracts, in clearance of the half-yearly balances under this head of account and also due to booking of petty differences to this head vide paragraph 2547-S. 2931. The other heads of accounts are self-explanatory. 2933. Consolidated Journal Slip.—The Journal keeper should satisfy himself, particularly with reference to the entries regarding Transfers—Railway and Divisional, that all the transactions of the month have been brought to account. The journal should then be totalled and consolidated journal entries (one for Capital and the other for Revenue) should be prepared. In preparing the journal entry, transactions carried directly into the General Books, e.g. cash payments (on receipts) for stores should be disregarded - Special care should be taken to see that: (i) the amounts shown as debit and credit against 'Transfers State Railway Revenue' in the Capital Account agree with those shown as credit and debit against 'Transfers State Railway Capital' in the Revenue Account; (ii) the total amounts of debit and credit under "Transfers, Divisional or Branches or Sections" agree with the amounts as accepted by the sections and branches concerned through the monthly schedules; and. (iii) the amount shown as minus debit and credit against "Transfer Stores", i.e. respond in entries for transfers originated by the Divisions, branches, Sections agree with those accepted through their schedules. 2934. The consolidated journal entry will show only the totals of the debits and credits to each head of account maintained in the Stores Journals. 2935. The journal entries should be signed by the Stores Accounts Officer and forwarded to the Book Section for incorporation in the accounts of the Railway. 2936. Subsidiary Register for Capital Account.—The transactions relating to the Capital heads of account for the 'month' and from the commencement of operations' should be shown in the schedule of capital expenditure accompanying the monthly Capital Account Current of the Railway submitted to the Railway Board. 2937. As the heads of account operated upon in the Stores Accounts Office are mainly suspense heads of account detailed headwise, it is necessary that the balances under each detailed head are reconciled and proved with the General Books. For this purpose, a subsidiary register should be maintained by the Book Section for these detailed heads of account, in which should be shown opening balances, debits and credits during the month, and the closing balances in the following form. Separate pages should be opened in the register for each head of account appearing in the Journal and a summary of each head of account prepared at the end. The correctness of balances in this monthly summary should be certified by the Book Section. Any discrepancy found as a result of its reconciliation with the Book Section, if any, put up to the gazetted officer within 10 days of of the close of the accounts for the month. Form No. S. 2937 FORM OF SUBSIDIARY REGISTER
Sub-Head
................
Detailed Head.....................................................
2938. Decentralised Stores Accounts Offices.—When stores accounting has been decentralised, there arises the need for such an office submitting a monthly statement of Stores Transactions to the General Office in the form shown below. The form is
self-explanatory. For the month
of..............................................at..................................................................................................Depot.
No.................................................................Dated...........................................................................19................................ Forwarded to the Chief Accounts Officer (Stores). Certified that I have personally satisfied myself that all the processes of work and checks prescribed have been strictly observed in connection with the preparation of the above accounts.
Stores Accounts Officer Depot. 2940. The account should be accompanied by such schedules as may be prescribed by the Chief Accounts officer. The accounts of the various account offices should be consolidated in the Head Office in the form shown below. The further procedure of accountal will be on the same lines as laid down in the previous sections.
Form No. S, 2940.
(a) Capital and Revenue Accounts. (b) Finance Accounts. , (c) Appropriation Accounts. Detailed instructions regarding the preparation of each of the above accounts appear in the Accounts Department Code. Material in connection with the preparation of (a) and (b) above is generally obtained from records maintained in the Stores Accounts Branch itself. Whereas the explanations for variations between the original grant and the final grant and between the latter and the actual expenditure under the various sub-heads of the Appropriation Accounts, will be framed in consultation with the executive, if necessary. These should then be incorporated in the accounts submitted to the Book Section. For this purpose statements showing the figures of the original grant as compared with the final grant and the latter with the actual expenditure, should be sent to the Controller of Stores or other executive officer concerned, sufficiently in advance to admit of the accounts being sent to the Book Section in time. 2942. Exhibition of losses in the Accounts under the following heads : (i) Physical losses; (ii) Losses due to variation in prices; (iii) Losses due to obsolescence and deterioration.
The physical Losses of stores will be generally speaking, the shortages of stores discovered during
verification of stocks. But all the deficiencies of stock are not to be considered, ipso facto, physical losses. The losses are generally attributed by the depots to the following reasons: (b) Leakage, etc. (c) Turn of scale. Losses arising out of retail issues, or leakages are not strictly speaking, physical losses though the former may partly be a physical loss and as most of the losses will be due to (a) and (b), the entire amount may be taken as physical loss. Clause (c) is, however, compensatory and losses attributed to this cause only should not be classed as 'Physical losses'. Losses under (ii) will be those shown under relevant detailed head of the Stock Adjustment Account, Losses under (iii) for which the Stores Department is responsible will be shown under relevant detailed head of the Stock Adjustment Account, and those for which other departments are concerned will be debited them and will be accounted directly by the Accounts Officers concerned to the Book Section of General Branch, where they will be consolidated. While scrutinizing the explanations given on stock sheets, Inspectors of Stores Accounts or Stock Verifiers should keep note of all physical losses of stores and submit an annual statement to the Stores Accounts Officer by the 30th April each year. 2943. Annual Statement of Expenditure on Stores,—A return showing the value of stores purchased every year should be compiled in the form shown below and submitted to the Railway Board by the 25th May of the year following the one to which the statement relates : Form No. S. 2943 STATEMENT OF VALUE OF STORES PURCHASED DURING THE YEAR
2944. The return should show separately the value of stores imported direct, the value of imported stores purchased in India and the value of stores of Indian Manufacture or of indigenous origin. 2945. The figures required for this return should be compiled in the Accounts Office from the Annual Abstract of Group Summaries (S. 2615). 2946. At the end of the year a specimen copy of the return should be sent to the departments which make direct purchase for submission of a similar return showing the value of stores purchased by them during the year. The figures should be added to the value of stores shown in the registers maintained by the Stores Accounts Officer for exhibition in the return. This return should be accompanied by a review explaining the causes of important variations under any head compared with the previous year. |
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