Para 12.55 — MSO (A&E)
Original Rule Text
12.55 As soon as the accounts for the month of March have been posted and proved in respect of a department, and before the interest for the year is calculated and adjusted in the subscriber's accounts, all the cards of that department should be brought together irrespective of the district of operation and arranged in serial order of account numbers. The cards should then be checked with the Index Register to ensure, on the one hand, that the Index Registers are upto date and on the other, that no cards are missing. Advantage should be taken of this census to pick out cards that do not bear token of having been reviewed during the year.
Side by side with the calculation of interest the Machinist should prepare the Annual Account Statements and a Balance Compilation in Form 40 from the completed cards. The Annual Account Statement and the Balance Compilation are prepared simultaneously on the machine. The
former are fed into the machine from the back. When all the Accounts of a department have been posted, vertical totals should be entered into the Balance Compilation Sheet. The total of the credits and debits should then be agreed with the credits and debits as worked out from the monthly Audit Sheets. The opening balance should agree with the closing balance of the last year and the closing balance should be proved by adding total credits to the opening balance and substracting total therefrom.
What This Means
After March accounts are posted and proved for a department, all ledger cards are collected regardless of district and arranged in serial order of account numbers. A census is conducted by checking cards against the Index Register to ensure none are missing and that the registers are up to date. Cards not reviewed during the year are flagged. The Machinist then simultaneously prepares Annual Account Statements (fed from the back of the machine) and a Balance Compilation (Form 40). The total credits and debits from Form 40 must agree with monthly Audit Sheet figures, and the closing balance must be mathematically proved.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1After March proving, ALL cards in a department are sorted by serial account number
- 2Census: cards are checked against the Index Register for completeness
- 3Unreviewed cards during the year are identified and flagged
- 4Annual Account Statements and Balance Compilation (Form 40) are prepared simultaneously on the machine
- 5Credits and debits in Form 40 must agree with monthly Audit Sheets
- 6Closing balance = Opening balance + Total credits - Total debits
Practical Example
The Education Department has 3,500 GPF subscribers. After March accounts are posted and proved, all cards from 15 districts plus Settlement Account and Transfer pads are sorted by account number (1 to 3500). The Index Register shows 3,500 entries — all cards are present. Seven cards had no review markings during the year and are flagged for the Branch Officer. The Machinist feeds Annual Account Statements from the back while the machine prints the Balance Compilation on Form 40. The Form 40 shows total credits of Rs. 4.5 crore matching the sum of 12 monthly Audit Sheets.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Frequently Asked Questions
What is the purpose of the annual census of ledger cards?▼
How is the closing balance proved during annual closing?▼
Why are Annual Account Statements fed from the back of the machine?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.