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Questions and Answers
What is the primary purpose of issuing bills for stores supplies from Stores Depots?
What is the primary purpose of issuing bills for stores supplies from Stores Depots?
- To maintain a systematic record of stores supplied (correct)
- To manage the debits for stores received from external sources
- To track receipts from purely outside agencies
- To record payments made to departments
Which of the following does NOT get included in the summaries of receipt of issue vouchers?
Which of the following does NOT get included in the summaries of receipt of issue vouchers?
- Receipts from external agencies (correct)
- Sales for cash
- Depot Transfer Issues
- Issues chargeable to Miscellaneous Advances Accounts
What is the significance of preparing summaries of receipts periodically for each department?
What is the significance of preparing summaries of receipts periodically for each department?
- It eliminates the need for any record-keeping by the departments
- It simplifies the billing process by aggregating all transactions at month-end
- It compiles data for external audits only
- It allows departments to manage their vouchers on a continuous basis (correct)
What should be done with the duplicate copies of the Issue Notes?
What should be done with the duplicate copies of the Issue Notes?
Which form is used in the preparation of the Advice of Summary of Issues?
Which form is used in the preparation of the Advice of Summary of Issues?
What role does the Stores Accounts Officer play in the process?
What role does the Stores Accounts Officer play in the process?
Why is it beneficial for departments to receive summaries on a progressive basis rather than all at once?
Why is it beneficial for departments to receive summaries on a progressive basis rather than all at once?
What should be maintained in manuscript to track receipts and issues?
What should be maintained in manuscript to track receipts and issues?
What percentage charge is added to the book value of stores issued to Works or Surveys?
What percentage charge is added to the book value of stores issued to Works or Surveys?
What should departmental officers do when they notice that summaries are missing?
What should departmental officers do when they notice that summaries are missing?
When preparing the journal slip, what must be credited in the month-end adjustment?
When preparing the journal slip, what must be credited in the month-end adjustment?
What is one of the first tasks of departmental officers upon receiving periodical summaries?
What is one of the first tasks of departmental officers upon receiving periodical summaries?
What is required to be maintained separately for receipts and issues after completing postings for the period?
What is required to be maintained separately for receipts and issues after completing postings for the period?
What form is maintained for the Abstract of Issues/Receipts?
What form is maintained for the Abstract of Issues/Receipts?
Which date information is necessary to complete the monthly abstract?
Which date information is necessary to complete the monthly abstract?
What should be included in the total for the Abstract of Issues/Receipts?
What should be included in the total for the Abstract of Issues/Receipts?
What is the purpose of the Monthly Abstracts of Summaries?
What is the purpose of the Monthly Abstracts of Summaries?
What document is referred to when entering totals in the Monthly Abstracts?
What document is referred to when entering totals in the Monthly Abstracts?
Who is responsible for maintaining the Monthly Abstract of Summaries?
Who is responsible for maintaining the Monthly Abstract of Summaries?
When are the summaries supposed to be entered into the Monthly Abstract?
When are the summaries supposed to be entered into the Monthly Abstract?
What is the format referred to when presenting the Abstract of Issues/Receipts?
What is the format referred to when presenting the Abstract of Issues/Receipts?
What is the purpose of the Vouchers for Credits to Stock Adjustment Account?
What is the purpose of the Vouchers for Credits to Stock Adjustment Account?
Which document verifies the transfer of receipts and issues between depots?
Which document verifies the transfer of receipts and issues between depots?
What should be done after reconciling the monthly abstracts of receipts or issues?
What should be done after reconciling the monthly abstracts of receipts or issues?
When should the summaries relating to vouchers from the last day of the month be issued?
When should the summaries relating to vouchers from the last day of the month be issued?
What is specifically required to reconcile Monthly Abstracts of Receipts or Issues?
What is specifically required to reconcile Monthly Abstracts of Receipts or Issues?
Who determines the schedule for the dispatch of summaries of receipts and issues?
Who determines the schedule for the dispatch of summaries of receipts and issues?
What type of documentation is issued for Direct Sales on cash payment?
What type of documentation is issued for Direct Sales on cash payment?
What is the consequence of not issuing summaries in a timely manner?
What is the consequence of not issuing summaries in a timely manner?
Which document should not be confused with the Monthly Abstracts of Receipts or Issues?
Which document should not be confused with the Monthly Abstracts of Receipts or Issues?
What is the main function of Vouchers for material received after fabrication?
What is the main function of Vouchers for material received after fabrication?
What is one of the main divisions under Capital Suspense mentioned in the content?
What is one of the main divisions under Capital Suspense mentioned in the content?
How is the head Capital Suspense categorized for better organization?
How is the head Capital Suspense categorized for better organization?
What is the purpose of the subsidiary journal in the content?
What is the purpose of the subsidiary journal in the content?
What types of vouchers should have separate series of summaries prepared?
What types of vouchers should have separate series of summaries prepared?
Which specific Stores in Stock categories are mentioned?
Which specific Stores in Stock categories are mentioned?
What type of purchase does the content reference for Receipt Notes?
What type of purchase does the content reference for Receipt Notes?
What does paragraph 2613 provide a reconciliation for?
What does paragraph 2613 provide a reconciliation for?
What is implied by the term 'priced ledgers'?
What is implied by the term 'priced ledgers'?
Which of the following is NOT mentioned as a purpose of the detailed heads?
Which of the following is NOT mentioned as a purpose of the detailed heads?
Who is responsible for reconciling the total value of issues or receipts?
Who is responsible for reconciling the total value of issues or receipts?
What should be included in the duplicate copies of the Issue Notes before checking with the advice of debits?
What should be included in the duplicate copies of the Issue Notes before checking with the advice of debits?
What method is suggested for preparing the Advice of Summary of Issues?
What method is suggested for preparing the Advice of Summary of Issues?
In which instances do the summaries of issue vouchers need to be prepared for each department or workshop?
In which instances do the summaries of issue vouchers need to be prepared for each department or workshop?
What type of issues are excluded from the summaries prepared for departmental issues?
What type of issues are excluded from the summaries prepared for departmental issues?
What is the scheduled frequency for issuing the summary that includes the last day of the month transactions?
What is the scheduled frequency for issuing the summary that includes the last day of the month transactions?
What is the key purpose of maintaining separate summaries for different types of vouchers?
What is the key purpose of maintaining separate summaries for different types of vouchers?
Which document would likely be referenced for entering totals into the Monthly Abstracts?
Which document would likely be referenced for entering totals into the Monthly Abstracts?
What letter is used to distinguish debit summaries in the bookkeeping process?
What letter is used to distinguish debit summaries in the bookkeeping process?
What is required for each item of a voucher to ensure proper accounting?
What is required for each item of a voucher to ensure proper accounting?
Which section specifies the sorting method for Advice Notes regarding returned stores?
Which section specifies the sorting method for Advice Notes regarding returned stores?
How should totals for the Abstract of Issues/Receipts be presented?
How should totals for the Abstract of Issues/Receipts be presented?
What is indicated by the designation 'Rs.P.' in the summaries?
What is indicated by the designation 'Rs.P.' in the summaries?
What must departmental officers ensure when reconciling their monthly abstracts?
What must departmental officers ensure when reconciling their monthly abstracts?
Which form is specifically used to communicate the total value of stores supplied/returned?
Which form is specifically used to communicate the total value of stores supplied/returned?
What is the consequence mentioned for departments if summaries are not issued on time?
What is the consequence mentioned for departments if summaries are not issued on time?
What does the preparation of summaries for receipts by departments depend upon?
What does the preparation of summaries for receipts by departments depend upon?
What action should be taken if discrepancies are noticed after the final summary has been accepted?
What action should be taken if discrepancies are noticed after the final summary has been accepted?
What is required for the acceptance of last departmental summaries?
What is required for the acceptance of last departmental summaries?
Which of the following registers are NOT required to be maintained as per the content?
Which of the following registers are NOT required to be maintained as per the content?
What is the function of the Journal Slips mentioned in the context of issuing transfer certificates?
What is the function of the Journal Slips mentioned in the context of issuing transfer certificates?
When should adjustments for entered wrong vouchers be made if a final summary has already been issued?
When should adjustments for entered wrong vouchers be made if a final summary has already been issued?
What is the significance of maintaining separate Monthly Abstracts for receipts and issues?
What is the significance of maintaining separate Monthly Abstracts for receipts and issues?
What information is crucial for completing the Monthly Abstract of Issues/Receipts?
What information is crucial for completing the Monthly Abstract of Issues/Receipts?
What must departmental officers do if they find that any periodical summaries are missing?
What must departmental officers do if they find that any periodical summaries are missing?
What procedure should be followed by departmental officers when they identify discrepancies in summary records?
What procedure should be followed by departmental officers when they identify discrepancies in summary records?
Which specific detail is essential when preparing the Abstract of Issues/Receipts?
Which specific detail is essential when preparing the Abstract of Issues/Receipts?
Which action is taken after the acceptances of the summary are received?
Which action is taken after the acceptances of the summary are received?
What action is taken after the postings for the period have been completed?
What action is taken after the postings for the period have been completed?
What information should be recorded in the register maintained in manuscript S. 2715?
What information should be recorded in the register maintained in manuscript S. 2715?
What occurs when departmental officers receive issue notes in a damaged condition?
What occurs when departmental officers receive issue notes in a damaged condition?
What role does the date play in the Monthly Abstract preparation?
What role does the date play in the Monthly Abstract preparation?
Which column should be included in the manuscript register for tracking the acceptance of debits raised?
Which column should be included in the manuscript register for tracking the acceptance of debits raised?
When should summaries related to vouchers from the last day of the month be issued?
When should summaries related to vouchers from the last day of the month be issued?
Which document is essential to reconcile the Monthly Abstracts of Receipts or Issues?
Which document is essential to reconcile the Monthly Abstracts of Receipts or Issues?
What is required to allocate the summary appropriately after a departmental officer receives it?
What is required to allocate the summary appropriately after a departmental officer receives it?
What is the primary use of the format presented in the Abstract of Issues/Receipts?
What is the primary use of the format presented in the Abstract of Issues/Receipts?
What should be done with the totals entered in the Monthly Abstract?
What should be done with the totals entered in the Monthly Abstract?
What should the total of various columns be used for at the end of the month?
What should the total of various columns be used for at the end of the month?
What should be done with the issue notes that have discrepancies or are missing?
What should be done with the issue notes that have discrepancies or are missing?
What document is used to ensure that the accounts are expeditiously cleared in the event of issues to capital works or surveys?
What document is used to ensure that the accounts are expeditiously cleared in the event of issues to capital works or surveys?
Flashcards
Departmental Summaries of Issues
Departmental Summaries of Issues
Records of store issues to specific departments or workshops, showing the total value.
Issue Notes
Issue Notes
Documents representing the stores issued to a department or workshop.
Periodic Summaries
Periodic Summaries
Summarized records of store issues and receipts prepared regularly for each department/workshop.
Store Issues
Store Issues
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Reconciliation of Transactions
Reconciliation of Transactions
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Advice of Debits
Advice of Debits
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Form S. 2702
Form S. 2702
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Advice of Credit
Advice of Credit
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Monthly Abstracts of Departmental Summaries
Monthly Abstracts of Departmental Summaries
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Store Receipts
Store Receipts
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Total to the end of previous period
Total to the end of previous period
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Total for.......................................(date) as per this Advice of Credit
Total for.......................................(date) as per this Advice of Credit
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Total upto.....................................Store Accounts Office, Depot......................................Date...........................................................
Total upto.....................................Store Accounts Office, Depot......................................Date...........................................................
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Stores Suspense
Stores Suspense
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Priced Ledgers
Priced Ledgers
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Group Summaries
Group Summaries
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Monthly Abstracts
Monthly Abstracts
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Reconciliation
Reconciliation
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Subsidiary Journal
Subsidiary Journal
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Contra Heads of Accounts
Contra Heads of Accounts
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Advices of Receipts
Advices of Receipts
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Receipt Notes
Receipt Notes
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Indigenous Purchases
Indigenous Purchases
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What happens to the departmental summaries after acceptance?
What happens to the departmental summaries after acceptance?
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What happens to the issue notes with the summaries?
What happens to the issue notes with the summaries?
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What happens to missing or damaged issue notes?
What happens to missing or damaged issue notes?
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What happens to charges for stores issued to Capital Works and Surveys?
What happens to charges for stores issued to Capital Works and Surveys?
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Who's responsible for ensuring the 'Miscellaneous Advances Account' is cleared?
Who's responsible for ensuring the 'Miscellaneous Advances Account' is cleared?
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Receipt Note for Purchases
Receipt Note for Purchases
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Depot Transfer of Receipts and Issues
Depot Transfer of Receipts and Issues
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Stock Adjustment Account Credits
Stock Adjustment Account Credits
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Stock Adjustment Account Debits
Stock Adjustment Account Debits
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Material Received After Fabrication
Material Received After Fabrication
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Material Received on Loan
Material Received on Loan
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Issue Notes for Direct Sales
Issue Notes for Direct Sales
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Issue Notes by Debit to Miscellaneous Advances
Issue Notes by Debit to Miscellaneous Advances
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Monthly Abstract of Receipts and Issues
Monthly Abstract of Receipts and Issues
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Reconciliation with Group Ledgers
Reconciliation with Group Ledgers
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What is the additional charge for deposit works not funded by railways?
What is the additional charge for deposit works not funded by railways?
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When are Departmental Summaries accepted?
When are Departmental Summaries accepted?
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How are discrepancies in Departmental Summaries handled?
How are discrepancies in Departmental Summaries handled?
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What's a Suspense Account?
What's a Suspense Account?
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What are the types of Suspense Accounts Registers?
What are the types of Suspense Accounts Registers?
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Departmental Summaries
Departmental Summaries
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What happens to the Departmental Summaries?
What happens to the Departmental Summaries?
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Journal Slip
Journal Slip
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What happens to the Issue Notes?
What happens to the Issue Notes?
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Who's responsible for clearing Miscellaneous Advances?
Who's responsible for clearing Miscellaneous Advances?
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What happens to stores issued to Capital Works and Surveys?
What happens to stores issued to Capital Works and Surveys?
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Register of Departmental Summaries
Register of Departmental Summaries
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Check of Departmental Summaries
Check of Departmental Summaries
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Allocation Register
Allocation Register
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Study Notes
Departmental Summaries of Issues and Receipts
- Bills are issued for stores supplies (debits) and payments (credits) are made for outside store receipts.
- Store Accounts Officer prepares summaries of receipts and issues periodically for each department or workshop.
- This procedure allows departments to manage vouchers progressively instead of a monthly bulk.
- Summaries are used for general book incorporation.
Departmental Summaries of Issues
- Duplicate copies of Issue Notes are sorted by department/workshop.
- Issue Notes are validated by debit advice from the Computer Center.
- Advice copies of issue summaries are created in Form S. 2702.
- Sequential numbering (with T/R for debit/credit) is assigned to monthly summaries for each department.
- Each item on a voucher must be separately detailed in the summary.
Departmental Summaries of Receipts
- Returned store advice notes (S. 1539) and workshop material supplies (S. 1531) are sorted by department.
- Summaries follow procedures similar to Issue Summaries (form S 2705).
Monthly Abstracts of Departmental Summaries
- Monthly abstracts of issues and receipts (Form S. 2706) record totals from departmental summaries.
- Totals match the Group Ledger (for reconciliation).
Proforma Summaries
- Detailed summaries are created for various voucher types (e.g., imported purchases, indigenous purchases via central agencies).
- Summaries use separate forms and follow the S. 2703 format.
- Specific summaries are required for credit/debit to Stock Adjustment accounts, material received after fabrication/on loan, auction sale notes, etc.
Reconciliation
- Monthly abstracts are reconciled with the total postings for each period, using Group Summaries.
- Periodic summaries of issues/receipts are sent to departments.
- Summaries are issued promptly, next week for month-end issues/receipts if the office is close to the depot.
Other Important Details
- Sales summaries and related issues are documented in detail, e.g. individual sale order entries, sales by tender/auction, billing procedures and reconciliations in specific registers/sheets.
- Differences in balances between ledgers and ground balances/departmental verification are addressed/recorded.
- Stock adjustment accounts (Form S. 2740 ) and detailed reconciliation processes are described.
- Transfers, refunds, scrap procedures and reconciliation requirements are outlined.
- Stores-in-Transit/Purchase Registers are maintained for tracking items in transit.
- Reconciliation of balances in these registers with general books is required.
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Description
This quiz covers the procedures for managing departmental summaries of issues and receipts. It focuses on the preparation, validation, and use of summaries to improve financial tracking and accountability within departments and workshops. Test your understanding of these processes and their significance in departmental accounting.
