Para 12.43 — MSO (A&E)
Original Rule Text
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.
What This Means
At the end of each of the first three quarters (June, September, and December), the Machinist compiles the balances of all ledger cards in a department into Form 38. Both the previous year's balance and current year's balance are posted separately from each card. The resulting totals are then verified against a Proof Sheet (Form 39), which is built from Master Cards, inward/outward registers, and interest on closed accounts. There is no separate quarterly verification after March; instead, an annual verification with interest calculation is done for the last quarter.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Quarterly verification happens after June, September, and December accounts compilation
- 2Balances from ALL cards (including closed accounts during the quarter) are compiled in Form 38
- 3Last year's balance and current year's balance are posted separately
- 4Compiled totals must agree with the Proof Sheet (Form 39)
- 5No separate quarterly verification for March; only annual verification with interest
Practical Example
After compiling September accounts, the Machinist posts the balances of all 1,200 ledger cards in the Education Department into the quarterly statement (Form 38). The totals show an opening balance of Rs. 2.5 crore, current year credits of Rs. 45 lakh, and withdrawals of Rs. 18 lakh. These figures are checked against the Proof Sheet prepared from the three monthly Master Cards (July, August, September), the inward/outward registers, and interest on two accounts closed during the quarter. The figures match, confirming the accounts are correctly posted.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Frequently Asked Questions
Why is there no quarterly verification for the last quarter (January-March)?▼
What is included in the Proof Sheet (Form 39)?▼
Why must closed accounts also be included in the quarterly compilation?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.