Para 10.7 — MSO (A&E)
Original Rule Text
10.7 As soon as the posting of Detail Book, Part I is commenced, the Accountant concerned should total the debits and credits (Columns 3, 4 and 9, 10) of the Remittance Check Register and these totals should be agreed with the corresponding total in the 'Detail Book Part I' WHERE the postings are made with reference to the total figures as shown in the List of Payments and Cash Accounts. Any difference between the two sets of totals in 'Remittance Check Register' and Detail Book Part I should be promptly located and rectified as far as possible by transfer entry in the same month as this may generally be due to misclassification or miscarriage of schedule totals into the List of Payments/Cash Account. The unadjusted debits and credits as worked out in Columns 6 and 7 of the Remittance Check Register should then be carried forward with full details in the Remittance Check Register for the next month. A list of such unadjusted debits and credits should be made out every month and entered in the details of cash balance report which is forwarded to the Currency Office of the Reserve Bank of India for verification. Any discrepancy in the list of such items which normally constitute remittances in transit, brought to light by the Currency Officer, should be promptly reconciled by correspondence with the Treasury Officers concerned and the Currency
Accountant General (A&E), Kerala, will deal with these transactions in the same manner by posting them in their 'Central' Remittance Check Registers for watching the clearance of the outstanding items in the manner indicated in para 10.7 below.
Officer. Proper enquiries should also be instituted in the case of remittances remaining outstanding for an unduly long period.
What This Means
After posting the Remittance Check Register, the accountant must reconcile the register totals with the Detail Book Part I totals. Any differences must be promptly identified and corrected, typically through transfer entries in the same month. Unadjusted debits and credits are carried forward to the next month with full details, and a list of these items (which represent remittances in transit) is included in the cash balance report sent to the RBI Currency Office for verification. Discrepancies found by the Currency Officer must be resolved quickly, and long-outstanding remittances must be investigated.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Register totals (Columns 3,4 and 9,10) must agree with Detail Book Part I totals
- 2Differences should be corrected in the same month via transfer entries
- 3Unadjusted items are carried forward with full details to the next month
- 4List of unadjusted items goes to the RBI Currency Office in the cash balance report
- 5Currency Officer's discrepancies must be reconciled promptly
- 6Long-outstanding remittances require proper investigation
Practical Example
The AG office completes posting for March and finds the Remittance Check Register shows total debits of Rs. 85 crore, while the Detail Book Part I shows Rs. 87 crore. The Rs. 2 crore difference is traced to a misclassification in the Patna treasury's cash account. A transfer entry corrects this in March itself. Five debit entries totaling Rs. 45 lakh remain unadjusted (the receiving treasury has not yet acknowledged them). These are carried forward to April and listed in the cash balance report sent to the Currency Officer.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Frequently Asked Questions
Why must differences be corrected in the same month?▼
What are 'remittances in transit'?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.