sub accounts and treasury n.
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Sub accounts and Treasury

Sub accounts and Treasury

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Sub accounts and Treasury

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  1. Sub accounts and Treasury

  2. Accounting network

  3. MukhyaDakGhar • Function in a self contained manner in r/o all its own counter services • Competent to complete all transactions in savings schemes • Work relating to consolidation & financial arrangements, MDG function like SO in a/w its HO • PM of MDG is in the grade of LSG and above • SO daily a/c will be forwarded to HO

  4. Computerised office - links

  5. Relation between BO and AO • BOs are attached to account office (AO-SO) • BOs submit daily account of transactions to Account transactions • They look forward to AO for supply of funds • AO verifies and incorporates BO transactions in its account

  6. Sub accounts work at SO • Receipt of BO bags from BOs and disposal of contents • Incorporating BO transactions in various branches and receipt of remittances, if any • Conveying ordinary and accountable mail for delivery at BOs • Supplying cash to BOs • Acknowledging BO balances

  7. Transactions at BOs • Collection of unregistered mail from LBs and at office • Registered letter mail booked at office • Registered parcels booked at BOs – upto 10 kgs (requires rebooking at AO) • VP articles • Insured articles upto Rs. 600/- • Money orders (to be rebooked at AO) • SB/RD/TD transactions – incorporated in the accounts of AO

  8. Receipt and opening of BO bag at AO • Treasurer receives the BO bag from mails PA • He/she examines the condition and opens in the presence of subaccounts PA • If remittance is made, weighs the cash bag , opens the same in the presence of subaccounts PA and secures the same • Treasurer signs in the daily account for remittance received • Hands over the daily account and other documents to sub account PA

  9. Receipt and opening of BO bag at AO • Role of sub account PA • Examine if all the documents are correctly received • Distribute the contents as shown in next slide • Secure the daily accounts for posting in subaccounts module later

  10. Distribution of contents

  11. Checking BO daily account • Sub account PA should check and ensure that • Cash from BO acknowledged by treasurer • Cash remitted to BO taken into account • Date stamp impression on BODA • Opening balance is correct • The account tallies with documents such as MO issue, MO paid, SB deposit etc. • Details of closing balance agrees with closing balance • Cash and stamps retained is within the limits • Signature of BPM is available

  12. Common irregularities by BOs

  13. BO Summary • Generated in subaccounts module at AO • Transactions posted • Opening balance - Receipts - Total of Receipts - Payments - Total of payments - Closing balance • Consolidated due from BOs generated in subaccounts module after verification and adjustment of remittances

  14. Accounting BO transactions • Each branch has to incorporate transactions • SB branch to post BO transactions and include in LOT • Point of sale to rebook MO/parcel/VP/PLI/RPLI transactions • Postman module enters data of RLs/VPs/RPs delivered and MOs/eMOs paid • Subaccounts module provides a tool for subaccounts PA to check if rebooking transactions are correctly done in Point of sale (Tools – Tally rebooked transactions) • Other branches to check the totals in the printout of BO summary and initial against the entry

  15. Rebooking of BOMOs at AO • BO issues temporary receipt in MS 87(a) for MOs booked and sends form to AO • AO rebooks BOMO in Point of sale entering the following additional info • BO receipt number • BO name and date booking • MO receipt is given to subaccounts PA for forwarding to BO • BO pastes AO receipt against the concerned temporary receipt

  16. Index to BO receipts • Maintained in subaccounts module for all types of receipts used in BOs • Used to watch continuity of receipts and avoid irregular usage • Subaccounts PA to enter the data of receipts used daily • Continuity report can be printed daily or periodically • Supervisor can enter the data of receipts sent when supply of new receipt books are made to BOs

  17. Contents of BO bag from AO • BO slip(due document) • Unregistered articles • Registered articles, VP articles, insured articles of letter mail & parcel mail • MOs for payment • SB documents/passed warrants • Bills and acquittance Rolls • Cash bag with or without remittance

  18. Purpose of generating BO slip • Acknowledge BO balance of previous daily account • Invoice accountable mail, MOs and other documents to BO • Advising remittance, if any • Issue instructions to BPM

  19. Preparation of BO Slip • Generated by AO in subaccounts module • Particulars of accountable articles, MOs, MO receipts and other documents are invoiced • Remittance, if any, entered in treasury module automatically shown; Sub accounts PA to enter cash bag weight • Sub accounts PA prints the BO slips on completion of invoicing and includes in BO bag

  20. Closing of BO bag • Subaccounts PA collects the following and includes in BO bag

  21. Closing of cash bag for BO • Subaccounts PA gets orders for remittance from Postmaster in BO daily accounts • Shows the orders to treasurer and gets acquittance • Treasurer closes the cash bag in the presence of subaccounts PA • Treasurer makes entries of remittances in Treasury module • Subaccounts PA notes cash bag weight for the remittance in subaccounts module and on the label of cash bag

  22. Closing of cash bag for BO • Subaccounts PA prints the BO slip after entering data of all valuables • He/she places the BO slip along with contents in BO bag • Treasurer places the cash bag in the bag in presence of subaccounts PA • Subaccounts PA closes BO bag immediately

  23. Accounting work at PO • Watch the demo of functions in various branches and integration leading to generation of daily account • Exercise 1

  24. Treasurer’s cashbook • Generated by treasurer in Treasury module • At the close of the day • On completion of all transactions • Transactions serially numbered by the system • Treasurer to use the option ‘Prepare afresh’ before final generation • To confirm that all transactions are incorporated • To ensure that balance on hand agrees • Treasurer to ensure that balance shown in TCB agrees with that shown in daily account • Editing of transactions, if any should be done carefully • Should be signed both by treasurer and SPM

  25. Closing account bag by SO • Treasurer generates the daily account, but can only view the same • SPM can print the daily account only after day end • Before generating the daily account, the following tasks need to be completed • The account tallies correctly • Documents accompanying the daily account must be invoiced • Reasons for excess retention of balances, if any, should be furnished in ECB memo

  26. Closing account bag by SO • After generating printout of daily account in treasury module, SPM performs floppy upload • The SO data folder is copied to offline device or uploaded by other authorised means • Now, the SPM signs the daily account , obtains Joint custodian’s signature • The daily account and other enclosures are placed in the account bag and the bag is closed

  27. Authorised balances • The office has to retain cash and stamp balances within the authorised limits • The limits can be found in the MAB • Cash balance • Minimum and Maximum limits are prescribed • Balance should not fall below minimum limit • If there are liabilities, Cash to the extent of Min + liabilities to be retained • If liabilities exceed maximum, cash to the extent of liabilities only to be retained • Stamp balance • To operate within the authorised maximum • BO balances • Account office to ensure that BO balances are within the maximum prescribed in the CMAB

  28. ECB memo • Office needs to remit excess collections to bank/HO/cash office and maintain balance within the limits • If balance retained exceeds the limits, ECB memo has to be submitted by SOs other than HSG/LSG • ECB memo details are entered by Supervisor in treasury module

  29. SO Slip • SO Slip is sent by HO everyday to all the SOs • Acknowledges previous daily account balance • Also used by HO • To invoice stock of IPO’s and NSC’s • To invoice SB slip • To invoice checked BO daily account • To invoice acquittance rolls • To invoice MO pads & MO receipt book • To advice remittance, if any • Cash • Stamps

  30. Functions at HO • Generates HO summary for its own office (like SO daily account) in treasury module • Uses subaccount module to • Generate SO summary (consolidation of SO transactions • Generate SO transit/advance summary • Print SO slip • Generates HO cashbook daily in Accounts module (consolidation of HO & SO transactions) for the previous day • Generates Monthly cash account in Accounts module for submission to PAO

  31. Functions of Accounts branch • Drawal of pay & allowances and other dues for the staff of HO and SOs under the HO • Maintaining service book and leave account of the staff • Maintaining GPF account • Drawal of pension for pensioners and maintaining related accounts • Generating schedules of various transactions • Generating Form 16 for income tax returns • HO uses Accounts and Accountant PBS module for this purpose

  32. Supply of PBs, certificates etc., • Supply stock of NSC’s to SOs based on their requirement • Replenish stock of IPOs to SOs • Supply blank passbooks to SOs based on their requirement • Supply MO receipt book, Cheque book, SB-26, SB-28, NC-4(a), LI-37 & PLI-12, ACG-67 etc., to SOs & watch continuity in issue of receipts

  33. Functions of SOSB branch • Post the SO transactions of accounts except decentralised account types, daily • Generate consolidated journal everyday • Forwards interest statement for SB/PPF accounts to SOs • Maintaining NC12(a) register and submission of NSC returns to PAO (using CC bridge software) • HO uses SOSB module of Sanchay Post to perform all these transactions

  34. Functions of SOSB branch • Maintain objection register and following settlement • Submit periodical returns to PAO,DO, ICO(SB) at R.O. • Periodicity for binder agreement – • For decentralised accounts like RD, MIS, SCSS, once in 6 months as on 30/06 & 31/12 • For centralised accounts like SB,TD once in 6 months as on 31/03 & 30/09

  35. SBCO functions • To maintain control register for all types of accounts • Carry out percentage check of vouchers everyday • Verify ledger balances periodically • Has safe custody of important records such as • vouchers & lists of transactions, • undelivered pass books, • interest statements , control registers etc., • Check of interest calculation in SB/PPF accounts