Para 8.42 — MSO (A&E)
Original Rule Text
8.42 The clearance of debits and credits entered in this Register should be watched on the basis of responding credits and debits as shown under the head in the Divisional Schedule of Remittances (Form C.P.W.A. 77) attached to the Divisional Monthly Account. It is not only essential to watch the adjustment of individual items but also the total uncleared balances should be tested month by month and all transactions of a year should be settled before the accounts of the year are closed.
What This Means
The AG's office must watch for clearance of each debit and credit in the register by matching them against the corresponding entries in the Divisional Schedule of Remittances (Form CPWA 77) attached to the monthly divisional account. It is essential to track both individual items and the total uncleared balances month by month, and all transactions of a financial year must be fully settled before that year's accounts are closed.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Clearance is watched using the Divisional Schedule of Remittances (Form CPWA 77)
- 2Both individual item adjustment and total uncleared balances must be monitored
- 3Total uncleared balances should be tested month by month
- 4All transactions of a year must be settled before year-end closing
Practical Example
In September, the AG's office finds 15 uncleared items from April-August in the register. They cross-check each against the CPWA 77 schedules received with the October monthly account, clear 10 items with matching entries, and flag the remaining 5 for follow-up with the Divisional Officer. The monthly balance sheet shows the progressive reduction in outstanding amounts.
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 Form CPWA 77?▼
What if some items remain uncleared at year-end?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.