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    Accounts Code Vol III Classification of Forest Receipt and Expenditure

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    pahbarp
    This document outlines the classification system for forest receipts and expenditures. It discusses how transactions with other departments and governments should be recorded, including adjustments by book transfer. It also addresses how to record revenue/expenditures collected/incurred between divisions, as well as how to classify various types of charges, remittances, advances, recoveries, and deposits. Transactions are to be recorded according to the prescribed heads, with adjustments made by the Accountant General as needed.

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    Accounts Code Vol III Classification of Forest Receipt and Expenditure

    Uploaded by

    pahbarp
    136 views2 pages
    This document outlines the classification system for forest receipts and expenditures. It discusses how transactions with other departments and governments should be recorded, including adjustments by book transfer. It also addresses how to record revenue/expenditures collected/incurred between divisions, as well as how to classify various types of charges, remittances, advances, recoveries, and deposits. Transactions are to be recorded according to the prescribed heads, with adjustments made by the Accountant General as needed.

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    Accounts Code Vol III Classification of Forest receipt and expenditure

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    This document outlines the classification system for forest receipts and expenditures. It discusses how transactions with other departments and governments should be recorded, including adjustments by book transfer. It also addresses how to record revenue/expenditures collected/incurred between divisions, as well as how to classify various types of charges, remittances, advances, recoveries, and deposits. Transactions are to be recorded according to the prescribed heads, with adjustments made by the Accountant General as needed.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    136 views2 pages

    Accounts Code Vol III Classification of Forest Receipt and Expenditure

    Uploaded by

    pahbarp
    This document outlines the classification system for forest receipts and expenditures. It discusses how transactions with other departments and governments should be recorded, including adjustments by book transfer. It also addresses how to record revenue/expenditures collected/incurred between divisions, as well as how to classify various types of charges, remittances, advances, recoveries, and deposits. Transactions are to be recorded according to the prescribed heads, with adjustments made by the Accountant General as needed.

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    CH.

    5 – CLASSIFICATION OF FOREST RECEIPTS & EXPENDITURE


    Sec. A – GENERAL

    240
    The major & minor heads are prescribed in Volume I.
    The Sub-head, detailed head/Unit of grants & appropriation are determined by the
    Government in consultation with the AG.

    Sec B –
    TRANSACTIONS WITH OTHER DEPARTMENTS AND GOVERNMENTS

    241
    Directions for adjustments with other departments & Governments are contained in Vol. 1.

    242
    Recoveries/payments in Cash – are treated like “revenue receipts” or “service payments”.
    Transactions when required to be adjusted by book transfer – effected by debiting/crediting
    “Book Transfer”.

    243
    Transactions of Central Govt./Railways/P&T/Defence/other State govts. Originating in State
    Forest Division – if adjustable by book transfer – entered in accounts as debit/credit to –
    “Book Transfer – Central/Railways/P&T/Defence/State Govt. of ____”. Likewise necessary
    adjusting entries.

    Adjustments are made by AG.

    Debit is receipt (increase) &


    Credit is payment (decrease)

    C - INTER-DIVISIONAL TRANSFERS

    244
    Revenue/Expenditure collected/incurred in a division are to be recorded in the accounts of the
    division.
    No inter divisional adjustment required except under special order of the govt.

    245
    However, when Govt. (in consultation with AG) has declared units for purpose of ascertaining
    financial results, interunit adjustments have to be made – monthly/annually as per
    convenience.
    D – CHARGES FOR ESTABLISHMENTS, TOOLS & PLANTS, ETC.

    246
    Charges on account of General services – to be classified under “Establishment or
    Conservancy of Work” minor head.
    Cost of material purchased for specific work – to be debited to accounts of that work.

    247
    Pay & Allowances of temporary establishment – to be debited to “Conservancy of works”
    248
    Similarly, cost of expendible stores utilized on work – to be debited to the accounts of work.
    E – FOREST REMITTANCES

    249
    Sums paid into Treasury by Departmental officer – debited to “Forest Remittances”.
    Cheques drawn – credited to “Forest Remittances”.
    F – FOREST ADVANCES

    1 – Advance to disbursers

    250
    Advance to disbursing officers are made from “Forest Advances”

    2 – Advance to contractors, etc.

    251
    Advance to the contractor/suppliers/labourers made in connection with execution of work are
    debited as “Works Advances” under the minor head “Conservancy & Work”.

    252
    Petty advances to labourers are however made out of imprest or advance and are therefore not
    treated as work advances.
    G – RECOVERIES OF SERVICE PAYMENTS

    H – OTHER RECOVERIES

    253
    If made before the close of the year –
    1) In adjustment of an overcharge on account of pay/travelling allowance – and is made in
    deduction from a bill debitable to the same head – net amount only to be debited to the head.
    2) Else, amount recovered to be initially entered as items of receipt under “Recoveries of
    Service payments” &
    In the account of AG as minus entry under the sub-head to which it was debited originally.

    If made after the close of the year – to be credited as miscellaneous revenue.

    I – FOREST DEPOSITS

    255
    Earnest money deposits paid by the contractors/purchasers – to be treated as revenue deposits.

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