Para 5.6 — CAM

5.6 TRANSFER ENTRIES

5.6.1 Transfer Entries are the entries relating to the transfer of an item from one head of account to another, wherever necessary and are prepared in Form CAM 34. While making transfer entry, there shall be only one major head on one side while debit or credit against it may be given to various heads, and vice-versa. All the particulars explaining the nature of the adjustment and the grounds for the correction must be clearly stated in a transfer entry. The Transfer Entries may be required for the following illustrative case -

(a) Correct an error of accounting classification within a PAO in the original accounts;

(b) To adjust any item outstanding under a Debt, Deposit or Remittance head by debit/credit to the proper head;

(c) To effect periodical adjustments such as -

(i) Annual adjustment of interest payable on the accumulations/accretions of

G.P.Fund/C.P.Fund, which is done by debiting the Major Head '2049 - Interest payments' and crediting the heads '8009- State Provident Fund-G.P.Fund/C.P.Fund etc.

(ii) Adjustment by Principal Accounts Office to transfer/clear the amount from the minor head Public/Private Sector Bank Suspense below the Major Head '8658- Suspense Accounts' to major/minor heads '8675-Deposits with Reserve Bank-Central Civil' etc.

(d) For arranging payments of grants in aid or loans to State Governments and Union Territory Governments.

5.6.2 TEs are to be prepared in the system as under:

(i) Transfer Entry is to be made to rectify accounting misclassification of any instrument entered in the system viz. Voucher, LOP, Challan, Scrolls, T.E. or for others.

(ii) Transfer Entry number will be generated by the system through PAO wise running serial number, unique for financial year. Transfer entry date however, has to be entered manually in the system.

(iii) Transfer entry will be processed at all the three levels in PAO viz. ‘dealing hand’, ‘AAO’, and ‘Pay and Accounts Officer’. Once passed by Pay and Accounts Officer, it will be accounted for in the PAO’s account.

(iv) The month of accounting will be decided on the basis of the date of Transfer Entry, provided the said month’s account is not consolidated in the system. Otherwise it will be accounted for in the next month.

What This Means

This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.

Key Points

• 1Transfer Entries move items between heads of account and are prepared in Form CAM 34
• 2Only one major head on one side is permitted per transfer entry, with multiple contra heads on the other
• 3Full particulars of the adjustment nature and grounds must be clearly stated
• 4Common uses: classification correction, clearing suspense/deposit/remittance heads, periodic adjustments like GPF interest
• 5Principal Accounts Office uses transfer entries to clear PSB Suspense under Major Head 8658

Practical Example

This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.

Frequently Asked Questions

This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.