Para 3.14.4 — MSO (Audit)
Original Rule Text
3.14.4 Besides the cash remittances made by departmental officers rendering compiled accounts, cash remittances take place between treasuries and also between treasuries and currency chests. Every entry of ‘remittance into’ or ‘withdrawal from’ accounted for by an account rendering unit has to be cleared by a corresponding opposite entry in the accounts of the unit receiving the remittance or permitting the withdrawal.
What This Means
Cash remittances happen not only between departmental offices that render compiled accounts but also between treasuries and between treasuries and currency chests. Every 'remittance into' entry recorded by one unit must be matched by a corresponding opposite entry in the accounts of the receiving unit. This matching ensures that no money is lost or double-counted during transfers.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Cash remittances occur between departmental offices, treasuries, and currency chests
- 2Every 'remittance into' entry must have a corresponding opposite entry in the receiving unit's accounts
- 3Every 'withdrawal from' entry must similarly be matched
- 4This double-entry matching is essential for ensuring no funds are lost or duplicated
Practical Example
A district treasury in Lucknow remits Rs 50 lakh in cash to the sub-treasury in Barabanki. The Lucknow treasury records a 'remittance out' of Rs 50 lakh, and the Barabanki sub-treasury must record a corresponding 'remittance in' of the same amount. If the Barabanki entry shows only Rs 45 lakh, there is a discrepancy of Rs 5 lakh that must be investigated immediately -- it could indicate a transit loss or accounting error.
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 a currency chest?▼
What happens if a remittance entry is not matched?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.