Imprest Stores in Railway Operations

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Who is responsible for determining the monetary limits for each imprest holder?

Divisional Officer

Imprest Holder

Accounts Officer

General Manager (correct)

What should an imprest holder do if there is a need to reduce the quantity of their imprest?

Request the General Manager

Ask for a reduction based on consumption (correct)

Wait for the annual revision

Inform the Accounts Officer

How can the imprest of one holder be adjusted in relation to another holder's imprest?

Through a formal proposal by the Accounts Officer

By unanimous agreement of all imprest holders

By the General Manager's decision

Under the orders of the Divisional Officer (correct)

What must be documented when a temporary increase in imprest stock is authorized?

Authority showing increase amount and reason Signup and view all the answers

What action should be taken with excess stores allocated to an imprest holder?

Return them to Stores Depots promptly Signup and view all the answers

Which of the following is NOT a responsibility of an imprest holder?

Establishing monetary limits Signup and view all the answers

What should the numerical ledger maintained by each imprest holder include?

Receipts, issues, and balances of imprest material Signup and view all the answers

What should be recorded as the last entry on the imprest item card?

The balance by actual count Signup and view all the answers

What action should be taken in case of discrepancies in stock?

Adjust them in the ledger with a plus or minus entry Signup and view all the answers

What document is required for material issues from the imprest store?

An Issue Ticket signed by an authorized person Signup and view all the answers

How should issue tickets be organized at the end of each day?

By classes, price list numbers, and heads of allocation Signup and view all the answers

What information must be included in the issue ticket prepared for material issuance?

Head of account to which the cost is debitable Signup and view all the answers

What should be done with the explanation of discrepancies?

Furnish it in a letter to the departmental head Signup and view all the answers

What is required in the daily abstract of issues prepared at the end of each day?

Total quantity of each item issued for the day Signup and view all the answers

Who is responsible for signing the Issue Tickets?

A person duly authorized to approve the drawing of material Signup and view all the answers

If the stock is low, how often should counts be made for heavy balances?

Whenever convenient Signup and view all the answers

What should the imprest holder do with the quantity shown under column 6?

Match the quantity issued to work Signup and view all the answers

How many copies of the issue and recoupment schedule should be prepared?

Four copies Signup and view all the answers

Who is responsible for carrying out a percentage check on the recoupment?

The Stores Department Signup and view all the answers

What action should the Accounts Officer take if there is 'less-recouped' for any item?

Work off against the last head of account listed Signup and view all the answers

How should items relating to different classes of stores be prepared?

On separate sheets Signup and view all the answers

What is the primary purpose of recoupment for the imprest holder?

To maintain a fixed imprest balance Signup and view all the answers

What should be done if certain receipts have been received during the recoupment period?

Adjust the quantity shown under column 6 Signup and view all the answers

Which column should the imprest holder allocate their quantity by heads of account?

Column 13 Signup and view all the answers

What may be detected by the Stores Department during the percentage check?

Irregularities in the recoupment process Signup and view all the answers

What is the role of the Accounts Officer regarding values debitable to each head of account?

To split the values accordingly based on quantities Signup and view all the answers

What is the main purpose of maintaining the Accounts Register of Capital Imprests?

To show the total value of each imprest over time. Signup and view all the answers

How should transfers of stores between imprest holders be accounted for in the register?

As Inter Depot Transfers in red ink. Signup and view all the answers

What should the imprest holders prepare daily according to the procedure outlined?

Priced Daily Abstract of Issues. Signup and view all the answers

What is the form used for posting the monthly summaries of issues according to the outlined procedures?

Form S. J863-A. Signup and view all the answers

What should accompany each Daily Abstract when preparing the monthly summaries?

Separate summaries by quantities and detailed heads of accounts. Signup and view all the answers

What is the primary responsibility of the controlling officer regarding ordinary requisitions for non-Imprest items?

To confirm that requested articles are genuinely required. Signup and view all the answers

Under what circumstances can ordinary requisitions be used for items listed in the imprest schedule?

When they are needed for specific works. Signup and view all the answers

What should happen if imprest items are found to be not required after they have been requisitioned?

The procedure outlined in paragraph 1815 must be followed. Signup and view all the answers

When is the annual revaluation of imprests conducted, according to the stipulated process?

On March 31st each year. Signup and view all the answers

How should the Stores Accounts Officer inform departmental heads of the revised money value of imprests?

Simultaneously with the valuation process. Signup and view all the answers

What exception is noted regarding ordinary requisitions for stores listed in the imprest schedule?

They are not to be submitted and processed. Signup and view all the answers

For which of the following is the cost of requisitioned articles charged?

To the final heads of the revenue account. Signup and view all the answers

What must be included in the annual statement of stores transactions concerning imprests?

An annexure explaining variations in value. Signup and view all the answers

What is the main focus of paragraph 1853 regarding increases in the value of imprests?

To document reasons for the value increase. Signup and view all the answers

Which document should be used for obtaining stores other than those specified in the imprest schedules?

Form S. 1313 Signup and view all the answers

What should the Depot Officer do with the Recoupment Schedule after issuing the stores requisitioned?

Enter the quantity issued on all copies and send them accordingly. Signup and view all the answers

What is the role of the Divisional Officer in relation to the imprest holders?

To supervise the compliance with the fixed monetary limits and recommend adjustments Signup and view all the answers

How should the total value of stores issued be processed in the Accounts Office?

Calculate based on current rates, check against allocation slip, and enter in the Registers of Imprests. Signup and view all the answers

What must be included in the numerical ledger maintained by each imprest holder?

All receipts, issues, balances, and relevant allocations Signup and view all the answers

What is the fate of materials issued from main stocks according to the outlined procedures?

They become part of the Capital Suspense Account and are designated for special use. Signup and view all the answers

In case of excessive imprest stocks, how should the excess be managed?

Returned to Stores Depots promptly, credited to Revenue Signup and view all the answers

What should be included in the debit summaries prepared in quadruplicate?

Monthly totals for each division, district, or department. Signup and view all the answers

What procedure should be followed for the Recoupment Schedule after issuing it to the Indentor?

Only one copy should be retained by the Indentor for record-keeping. Signup and view all the answers

What documentation is necessary when a temporary increase in imprest stock is authorized?

A copy of the authority, amount increased, reason, and probable duration Signup and view all the answers

How should adjustments between imprest holders be managed according to changes in transportation arrangements?

Sanctioned imprests of other holders must be increased or decreased correspondingly Signup and view all the answers

What happens if certain receipts are found not required during the recoupment period?

They must be reported as discrepancies to the Accounts Officer Signup and view all the answers

When is the formal annual approval of monetary limits for imprest holders conducted?

Once every year as revised from time to time Signup and view all the answers

Which column in the recoupment schedule indicates the latest rate at which recoupment was made?

Column 5 Signup and view all the answers

What is indicated by column 6 in the recoupment schedule?

Fixed imprest value Signup and view all the answers

What should be entered in column 11 of the imprest recoupment schedule?

Required quantity Signup and view all the answers

In which form must the recoupment be made for each imprest holder?

Imprest Recoupment Schedule Signup and view all the answers

Which of the following is NOT part of the columns to be posted by the imprest holder?

Column 10 Signup and view all the answers

What does column 13(a) in the imprest recoupment schedule represent?

Quantity of items supplied by stores Signup and view all the answers

What should follow the receipt entries in the issue and recoupment schedule?

Closing balance calculations Signup and view all the answers

Which aspect is primarily addressed by the issue and recoupment schedule during a specified period?

Monthly allocation adjustments Signup and view all the answers

When entries are made in the recoupment schedule, which type of discrepancies should be recorded?

Counting errors of stock Signup and view all the answers

What must be prepared for each imprest holder in relation to the issue and recoupment schedule?

Monthly summary reports Signup and view all the answers

What should be included on the recoupment schedule for the previous month?

Quantity that was not recouped in the previous month Signup and view all the answers

Who is authorized to sign indents for recoupment?

Imprest holders without the need for countersignature Signup and view all the answers

What should happen if an old item cannot be provided in exchange for a new item demanded?

An explanation detailing the shortages should be sent Signup and view all the answers

What is the first step taken by the Depot Officer upon receiving the recoupment schedules?

Checking for submissions of old items in exchange for new ones Signup and view all the answers

Which section is responsible for filling in the figures of rate, unit, and value?

Accounts Department Signup and view all the answers

What must the Depot Officer do if there is a discrepancy between the quantities demanded and those issued?

Automatically cancel the balance of the indent Signup and view all the answers

What should be done with the observations noted during the percentage check by the Stores Department?

Forward them to the Depot Officer for rectification Signup and view all the answers

What is a necessary action that must be taken when preparing the recoupment schedule?

Quote the reference of the Advice Note for returned items Signup and view all the answers

What should be done with the recoupment schedules after they are verified?

Sent to the Divisional Officer for any necessary action Signup and view all the answers

How frequently should the scales of Imprests be examined to potentially reduce their amount?

At least every six months Signup and view all the answers

What is the procedure once materials are dispatched to an imprest holder?

Materials are treated as issued upon delivery to the Traffic staff Signup and view all the answers

What must accompany the material when issued to the imprest holder?

Two completed copies of the issue and recoupment schedule Signup and view all the answers

What should occur after the Stores Accounts Office posts the relevant priced ledgers?

A copy is sent to the Divisional or District Officer concerned Signup and view all the answers

Under what circumstance may a special recoupment demand be necessary?

When the whole imprest stock of any item is exhausted Signup and view all the answers

What is the priority of the Accounts Officer regarding the values debitable to each head of account?

To ensure values are inserted on every schedule Signup and view all the answers

What should be done with the remaining copies of the issue and recoupment schedule after posting the numerical ledgers?

Two copies must be sent to the Stores Office Signup and view all the answers

What is the main focus when recoupment of imprest is to be made?

To ensure recoupments are made at monthly intervals Signup and view all the answers

What information is required from the imprest holder during a special recoupment process?

Acknowledgment of receipt of materials supplied Signup and view all the answers

What is the function of the numerical ledgers maintained by the depot?

To assist in the preparation of the Daily Summary of Issues Signup and view all the answers

Study Notes

Imprest Stores (Other than Engineering)

Imprest stores are materials held in stock at locations like running sheds, train examining stations etc. These aren't for specific projects, but a continuing advance to cover daily demands regarding rolling stock repair, maintenance, and operation. This includes expendable supplies like cotton waste, jute, oil, grease.
Firewood for lighting isn't considered an imprest store.
The imprest system controls material expenses each month for running rolling stock repairs. This system also effectively manages financial and departmental control of materials at out-stations.
There are two systems for imprest accounting: "charged-off stores" (where costs are already debited to revenue expenses) and stores part of the railway's balances (where cost is capital suspense). The first system follows rules 1805-1885. The second system, where capital is used, uses rules 1805-1858, unless those rules clash with 1859-1877.
A railway should prefer the "charged-off" system if both are available.

Accountal of "Charged-off" Imprest Stores

A schedule for imprest stores is needed, listing quantities for each material. This schedule, form S. 1805, needs the following details:
Store group
Price list or part list number
Brief description of stores
Approved imprest amount
Rate
Value
Quantities should be revised as needed, with yearly revaluation.
Copies/mods of the schedule need to be given to divisional superintendents, stores departments, and accounts officers for up-to-date records.

Fixing Quantities

Quantities should be based on an average of two months of usage, approved by the railway's general manager or a designated lower authority.

Interchange Stations

If certain stations need spares for foreign-line repairs, these spares can be part of the imprest. These should not need special depots.

Monetary Limits

Imprest limits are set for each location, but these can be revised yearly by the General Manager. Costs are based on price list rates.

Control of Imprest

Divisional officers are responsible for managing imprest holders and ensuring amounts are kept at the lowest possible level, but consistent with usage.
Imprest holders should propose reductions in quantities when usage lowers.

Special Demands

If an unusual work demand requires more supplies than usual, the divisional officer can temporarily increase the imprest. This must be documented and communicated to the accounts officer and the controller of stores.

Excess Materials

Excess materials need to be returned to the stores department.
Returned stores receive credits to Working Expenses.

Issue of Material

All issues must use issue tickets, signed by authorized personnel.
Each issue requires a separate ticket, showing the account responsible for the cost of the materials.
Daily abstracts detail the quantities of each issued item for each day, categorized by material class/price.

Monthly Summary of Issues

Monthly summaries track issues of "charged-off" stores (Form S.1823).

Returned Stores

Serviceable materials reclaimed from repairs or scrap should become part of imprest, unless it exceeds the existing imprest limit, then the excess should be returned to the stores depot.

Scrap Material

Scrap materials shouldn't be added to imprest records, but instead returned to stores depots. These are handled with separate advice notes.

Requisitions

Requisitions for items not part of the imprest schedule should be handled through normal requisitions.
Non-imprest items are handled through ordinary requisitions.

Transfers

Transferring materials between imprest holders requires exceptional circumstances and a clear record of where items are transferred.

Closing and Recoupment

Imprest holders close ledgers on a specified date.
Recoupment schedules detail issues and receipts of materials for each material type/class for each month.
Reconciling imprest balances with overall accounts is necessary.

Verification and Inspection

Annual departmental verification of imprest stocks is necessary.
Stock verifiers should check for discrepancies in the records, and issues require proper explanation for reporting.
Officers inspect imprest holder offices regularly.

Imprests at Debit of Capital Suspense

The rules for imprested material at capital suspense are similar to those for "charged-off" imprests, with some differences.
Accounts registers for capital imprests track the total value of each imprest type (Form S.1860), updated as needed. This register is reconciled to general books.