Para 12.43 — MSO

12.43 At the end of each of the first three quarters, i.e. after compilation of June, September and December Accounts, the Machinist should compile the balances of all the cards in a department (including those which were closed during the currency of the quarter the accounts of which are being verified) in Form38. He should do this by posting in the quarterly statements the last year's balance and the current year's balance separately from each ledger card. The totals of the balances, collected automatically by the totalisers, will be cleared by posting the figures shown by them in the quarterly statements. The statement so completed should be agreed with the figures in the Proof Sheet (Form 39) which should be posted from:-

1. the Master Cards for the three months of the quarter; 2. registers of inward and outward items; and 3. the separate compilation of interests on accounts closed during the quarter.

There will be no quarterly verification after March, i.e., for the last quarter, but only annual verification together with interest calculation for the year.