Depot Ledger Procedures Quiz
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Questions and Answers

What should Subsidiary Depots do if they need to alter their original estimated requirements?

  • Notify the Main Depots in advance. (correct)
  • Wait for the Main Depots to contact them.
  • Request additional materials without notice.
  • Revise their estimates based on past demands.

    • What is indicated by the 'balance of allotment' column in the Recoupment Card?

  • The total quantity of items received.
  • The historical consumption of similar items.
  • The remaining amount available for the contract period. (correct)
  • The estimated needs for the upcoming contract period.

    • When should the investigation comparing the balance of allotment with issues made be conducted?

  • During the final review of all contract supplies.
  • Whenever a recoupment is made. (correct)
  • Only at the beginning of a new contract period.
  • Monthly, regardless of contract updates.

    • What should be included with the Stock Recoupment Requisition for a revised forecast?

    <p>A slip detailing the past six months' consumption.</p> Signup and view all the answers

    What should be shown on the Stock Recoupment Requisition if there are pending demands?

    <p>The quantity of pending demands that cannot be fulfilled.</p> Signup and view all the answers

    What is the correct way to determine the quantity to be recouped when stocks are below the minimum level?

    <p>Subtract the stock from the minimum and add the result to the maximum.</p> Signup and view all the answers

    If an item’s stock is entirely depleted, how is the quantity to be requisitioned calculated?

    <p>The requisitioned quantity is the minimum plus maximum quantities.</p> Signup and view all the answers

    What should be done if the stock is below the minimum after an issue is made?

    <p>Recoup the maximum quantity plus the difference from the minimum.</p> Signup and view all the answers

    What happens when there is a sudden rush of demands that depletes the stock completely?

    <p>Recoup with maximum plus any pending requisitions.</p> Signup and view all the answers

    What is the correct formula to calculate the quantity to be recouped?

    <p>Maximum plus minimum plus pending demands minus stock and dues.</p> Signup and view all the answers

    What should be filled out if an estimated requirement needs modification?

    <p>The date and initials of the recoupment clerk.</p> Signup and view all the answers

    What is the role of the Depot Officer in the context of stock recoupment?

    <p>To ensure the correct quantities are recouped based on stock levels.</p> Signup and view all the answers

    In which situation is alteration to contract allotment necessary?

    <p>When there is an increase in the quantity requested.</p> Signup and view all the answers

    What portion of information is primarily used in the recoupment process?

    <p>The maximum, minimum, and pending demands.</p> Signup and view all the answers

    Which type of issues does the Depot Ledger primarily address?

    <p>Issues concerning stock levels and demands.</p> Signup and view all the answers

    What is the primary purpose of centralizing clerical work in a Ledger Section for stock accountal?

    <p>To ensure consistent and organized record-keeping</p> Signup and view all the answers

    What is the main advantage of having separate cards for recoupments and transactions?

    <p>It reduces the wear and tear on transaction cards</p> Signup and view all the answers

    In the Ledger Section, how should the sub-sections be organized?

    <p>Corresponding to wards and groups of stores</p> Signup and view all the answers

    What is depicted on the Numerical Ledger Card?

    <p>Details of transactions for items stored in the depot</p> Signup and view all the answers

    What potential issue does a single card for recoupments, receipts, and issues create?

    <p>It leads to excessive usage of cards due to space constraints</p> Signup and view all the answers

    Who should supervise the Ledger Section?

    <p>An independent subordinate of the ward organization</p> Signup and view all the answers

    What is the function of the Recoupment Card?

    <p>To record recoupments distinctly from other transactions</p> Signup and view all the answers

    What is the purpose of notifying the Stores Accounts Officer when opening a new stock card?

    <p>To keep the officer informed for ledger card opening</p> Signup and view all the answers

    Which of the following categories of stores requires separate stock cards?

    <p>New, second-hand, or repairable</p> Signup and view all the answers

    What should be included in the Advice of New Stock Card Form (S. 1404-A)?

    <p>Class Price List Number and Category of Stores</p> Signup and view all the answers

    Under what condition can more than one stock card be maintained for an item?

    <p>If they differ in quality, such as being new or second-hand</p> Signup and view all the answers

    What action should be taken when a depot proposes to close a stock card?

    <p>Prepare an Advice Form (S. 1404 B) with specific details</p> Signup and view all the answers

    Who is responsible for ensuring that blank stock card forms are kept in proper custody?

    <p>The Depot Officer</p> Signup and view all the answers

    What detail must be noted regarding the last voucher when closing a stock card?

    <p>The date and number of the last voucher posted</p> Signup and view all the answers

    Which form must be sent to the Accounts Officer for approval of a new card being opened?

    <p>S. 1404-A</p> Signup and view all the answers

    What should be included in the initials on the issued stock cards?

    <p>Initials of the Supervisor of the Ledger Section</p> Signup and view all the answers

    Who is responsible for arranging the full estimated requirements for Subsidiary Depots?

    <p>Controller of Stores</p> Signup and view all the answers

    When should a blue signal be placed on the stock card?

    <p>When the balance is at or below the minimum</p> Signup and view all the answers

    What indicates that the entire stock has been exhausted?

    <p>Red signal</p> Signup and view all the answers

    What action should follow after the daily postings on the Recoupment and Numerical Ledger Cards?

    <p>Prepare and send recoupment requisitions</p> Signup and view all the answers

    What should the ledger poster examine before contemplating a recoupment?

    <p>Average consumption over six months</p> Signup and view all the answers

    What should be done with the blue and red signals on the stock card?

    <p>They should be cleared by the end of each day</p> Signup and view all the answers

    In what form should Stock Recoupment Requisitions be made out?

    <p>In duplicate</p> Signup and view all the answers

    What does the maximum and minimum figures aid in regarding stock levels?

    <p>Adjusting stock replenishment needs</p> Signup and view all the answers

    What should be included in the Stock Recoupment Requisition Form?

    <p>Description and Class of items</p> Signup and view all the answers

    What is the consequence of an increase or decrease in weekly average consumption?

    <p>Adjustments should be made with Depot Officer approval</p> Signup and view all the answers

    What is the initial step the workshops take upon completing an order?

    <p>Distribute the 'Material-supplied to stores' Form (S. 1531) in five copies.</p> Signup and view all the answers

    What is the purpose of the fourth foil of the 'Material-supplied to stores' Form (S. 1531)?

    <p>To be returned to the Production Department for final approval.</p> Signup and view all the answers

    In what situation should the fifth copy of the material supplied to Stores Form (S. 1531) be retained?

    <p>When produced items are required for a Stores Depot not adjacent to workshops.</p> Signup and view all the answers

    What action should be taken after the Receipt Section has checked the items of stores received?

    <p>Return the fourth foil to the Production Department and send others to the wards.</p> Signup and view all the answers

    Which document should be paired with the copy retained in the Ledger Section?

    <p>Workshop Accounts Form (S. 1437).</p> Signup and view all the answers

    What information is NOT required in the manuscript Advice of New Stock Card Form (S. 1404-A)?

    <p>Quantity of stock available</p> Signup and view all the answers

    Under what scenario is it acceptable to maintain more than one stock card for an item?

    <p>When there are different rates of credit to be recorded</p> Signup and view all the answers

    What must a depot do when proposing to close a stock card?

    <p>Prepare a manuscript Advice Form (S. 1404 B) with specific details</p> Signup and view all the answers

    Who is responsible for the approval of opening a new stock card?

    <p>Stores Accounts Officer</p> Signup and view all the answers

    What must be secured before issuing blank stock card forms?

    <p>Orders from the Supervisor of the Ledger Section</p> Signup and view all the answers

    What is the significance of including the initials of the clerk-in-charge on the stock cards?

    <p>It serves as a verification of the card's accuracy</p> Signup and view all the answers

    Which of the following categories are stock cards classified into?

    <p>New, Second-Hand, Repairable</p> Signup and view all the answers

    What should be included in the postings for receipts apart from the R.O. numbers?

    <p>Price list numbers assigned by the wards</p> Signup and view all the answers

    Who is responsible for initialing the postings made in the Depot ledgers by the Accounts Stock Verifiers?

    <p>Accounts Stock Verifiers</p> Signup and view all the answers

    What must happen to the vouchers after postings for a date have been made?

    <p>They must be checked with the forwarding memo</p> Signup and view all the answers

    In the Monthly Statement of Vouchers, which documents need to be countersigned by the clerk-in-charge?

    <p>Certificate provided by the wards</p> Signup and view all the answers

    What is the responsibility of the Accounts Office regarding the Monthly Statement of Vouchers?

    <p>Checking the statement and accepting it if correct</p> Signup and view all the answers

    What should be done with the Recoupment Cards once the Annual Contract Statement has been prepared?

    <p>Fill in the 'Estimated Requirements' based on the statement</p> Signup and view all the answers

    What process follows after verifying the vouchers with the memo by the Stores Accounts Officer?

    <p>One copy of the forwarding memo is returned as acknowledgment</p> Signup and view all the answers

    When should the postings of Accounts Stock Verification Sheets occur?

    <p>Before any transaction-related postings on the date of verification</p> Signup and view all the answers

    What should be done if the vouchers are arranged by price list numbers?

    <p>They should be checked without any re-arrangement</p> Signup and view all the answers

    What must be recorded alongside the Stock Recoupment Requisition before its dispatch from the Subsidiary Depot?

    <p>Particulars in the Recoupment Card</p> Signup and view all the answers

    How should excess stock from a Main Depot be documented when issued to a Subsidiary Depot?

    <p>In red ink denoting a Depot Transfer</p> Signup and view all the answers

    What does the 'summary of issues' on the Recoupment Card exclude?

    <p>Transfers of stocks to other depots</p> Signup and view all the answers

    What is the function of the Depot Officer concerning the Stock Recoupment Requisition?

    <p>To sign the Stock Recoupment Requisition</p> Signup and view all the answers

    In what situation should Stock Recoupment Requisitions (S. 1416) not be forwarded directly to the wards?

    <p>If they come from Subsidiary Depots</p> Signup and view all the answers

    What should be included in the balance due shown on the Recoupment Card?

    <p>Total amount of Material outstanding on Stock Recoupment Requisitions</p> Signup and view all the answers

    What does care need to be taken with when issuing stock from the Main Depot to a Subsidiary Depot?

    <p>Including Depot Transfer in the summary of issues</p> Signup and view all the answers

    What is the primary function of the Stock Recoupment Requisition in the stock management process?

    <p>It initiates the transfer of overstock from one depot to another.</p> Signup and view all the answers

    What type of records should each depot maintain regarding stock estimates?

    <p>Detailed records of retail demand and transfers</p> Signup and view all the answers

    Which action should the ward-keeper undertake after receiving a Stock Recoupment Requisition indicating overstock?

    <p>Prepare the Depot Transfer Form and arrange for delivery.</p> Signup and view all the answers

    What should a stock card poster do to indicate a Depot Transfer issue on the Ledger Card?

    <p>Post in red ink the quantity despatched.</p> Signup and view all the answers

    Why are the particulars of recoupment made for Subsidiary Depots not entered on the Main Depot's Recoupment Card?

    <p>The card only concerns Main Depot transactions</p> Signup and view all the answers

    What is indicated by having a separate card for recoupments and transactions?

    <p>Enhanced accuracy of each transaction type</p> Signup and view all the answers

    What is necessary to record on the Stock Recoupment Requisition if there is a revised forecast of further requirements?

    <p>Changes to the existing contract allotment.</p> Signup and view all the answers

    What must be done if an Order in the Contract Allotment Form necessitates increased provisions?

    <p>An Alteration to Contract Allotment Form should be prepared.</p> Signup and view all the answers

    Which action is performed by the stock card poster after receiving the Depot Transfer Form?

    <p>They will post the transfer information on both the Stock Recoupment Requisition and Ledger Card.</p> Signup and view all the answers

    What should be recorded on the Stock Recoupment Requisition regarding the date of transfer?

    <p>The date of the Depot Transfer Issue Note and quantity despatched.</p> Signup and view all the answers

    Which document should be utilized to make record alterations if there is a need to update the allotment based on revised forecasts?

    <p>Alteration to Contract Allotment Form</p> Signup and view all the answers

    What is indicated if the 'issues' column is posted in red ink?

    <p>It marks the processing of a Depot Transfer issue.</p> Signup and view all the answers

    What is the purpose of the Contract Allotment Form within the context of stock management?

    <p>To record the distribution and allocation of stock across depots.</p> Signup and view all the answers

    Study Notes

    Depot Ledger Procedures

    • Clerical stock accounting should be centralized in a Ledger Section, divided into sub-sections per ward.
    • This section should have its own supervisor independent from ward organization.
    • Stock cards should be two-part: Numerical Ledger Card and Recoupment Card.
    • Separate recoupment cards are more efficient, using less paper and allowing easier transitions to computer systems
    • Numerical Ledger Cards record all depot stock transactions (receipts and issues).
    • Recoupment Cards record recoupments only.

    Numerical Ledger Card

    • Used for recording depot stock transactions: receipts and issues.
    • Separate cards are maintained for each item.
    • Format includes columns for:
      • Date
      • Received/Issued details
      • Receipt/Issue Voucher Number
      • Quantity
      • Receipt
      • Issue
      • Balance

    Recoupment Card

    • Records recoupments by item.
    • Summary columns for each month of a year are present.
    • Shows "Estimated requirements" and "Allotments" in specific relevant columns.
    • Includes "Quantity ordered", "Order No.", and "Balance of allotment".
    • Provides space for remarks.

    Duties of the Numerical Ledger Poster

    • Post receipt and issue vouchers within 24 hours (excluding holidays).
    • Keep "Recoupment Cards" for items posted as per paragraphs 1414-1439.
    • Place purchase orders and requisitions in a timely manner (except where mechanised procedures exist).
    • Post transactions to Numerical Ledger Cards accurately.
    • Correct errors with write-back entries, and use initials for corrections.
    • Ensure neat, and careful posting.
    • Avoid overwriting or scratching out entries.

    Posting of Numerical Ledgers

    • Normal practice requires a voucher for each transaction.

    • Receipts before issues

    • Order of posting:

      • Department Stock Verification Sheets
      • Book Transfers
      • Purchase Vouchers & memos
      • Workshop Manufacture Receipts
      • Depot Transfer Receipts,
      • Advice Notes of Returned Stores
      • Requisition and Issue Notes
      • Ordinary Issue Notes

    Completed Numerical Ledger Cards

    • Store completed cards chronologically by price list number.
    • Use binders or cabinets for storage.

    Stock Recoupment Requisition

    • Use this form when a stock balance drops below minimum level.
    • Main Depot handles requests from Subsidiary Depots.

    Alteration of Contract Allotment

    • Used when contract allotments need to be adjusted.
    • Forms show justification for changes in allotment quantities requested.

    Use of Main Depot Only

    • Use for entries related to quantities.

    Disposal of Surplus and Scrap

    • Procedures for disposal are described in Chapter XXIV

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    Depot Ledger Procedures PDF

    Description

    Test your knowledge on depot ledger procedures, including the functioning of numerical ledger cards and recoupment cards. This quiz assesses your understanding of stock accounting practices and the organization of the Ledger Section in a warehouse context.

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