Station Outstandings and Disallowances Quiz
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Questions and Answers

What information must be indicated for items cleared by an overcharge sheet?

  • Name of the accountant and the method of payment
  • Date of clearance and the total amount cleared
  • Financial implications and future projections of the recovery
  • Number and date of the letter sent, recipient, and reasons for the overcharge sheet (correct)

Who is responsible for monitoring the outstandings at a station?

  • The internal auditor
  • The Traffic Accounts Officer
  • The Station Master (correct)
  • The accounting department head

What should be done immediately upon receiving an error sheet?

  • Account for it in the first balance sheet available (correct)
  • File it away for future reference
  • Send it back for re-evaluation
  • Consult with the Cashier regarding discrepancies

What action should be taken for admitted debits when noticed?

<p>Pay them up by the staff immediately (B)</p> Signup and view all the answers

What should the Station Master do upon receiving the advice of internal check?

<p>Compare it with the balance sheet and take necessary debits into account. (B)</p> Signup and view all the answers

What should happen if objected debits are later found to be correct?

<p>Transfer them to the admitted debits list (B)</p> Signup and view all the answers

Who is responsible for any incurred debits by the Traffic Accounts Office?

<p>The person through whose fault the debit was incurred. (D)</p> Signup and view all the answers

What document is prepared after the station balance sheet check is completed?

<p>Advice of internal check. (B)</p> Signup and view all the answers

What should be done with error sheets received at the station?

<p>They need to be accounted for in the next balance sheet. (C)</p> Signup and view all the answers

In case of disputed debits, whom may the Station Master consult?

<p>Traffic/Commercial Inspectors. (A)</p> Signup and view all the answers

What format should the advice of internal check follow?

<p>Appendix XXVII/B. (C)</p> Signup and view all the answers

What action should be taken for missing error sheets?

<p>Call for copies from the Traffic Accounts Office or Outstanding Branch. (C)</p> Signup and view all the answers

What must the employee indicate in writing when admitting a debit?

<p>Whether they will accept the debit in cash or through salary deduction. (D)</p> Signup and view all the answers

What is required when an employee objects to a debit?

<p>Detailed reasons must be stated, along with tariff authority. (D)</p> Signup and view all the answers

Who is responsible for ensuring that only correct debits are admitted against staff no longer at the station?

<p>The Station Master. (D)</p> Signup and view all the answers

What information must be included on the error sheet for the responsible person?

<p>His father's name, designation, and staff number. (C)</p> Signup and view all the answers

What is the time limit for stations to raise objections regarding debits?

<p>30 days from receipt of the error sheet. (B)</p> Signup and view all the answers

What action is taken when a debit is objected to?

<p>The Divisional Commercial Superintendent scrutinizes the grounds for objection. (A)</p> Signup and view all the answers

What must happen to one foil of the error sheet according to procedure?

<p>It must be returned to the Divisional Commercial Superintendent within 30 days. (C)</p> Signup and view all the answers

What condition is required if the responsible staff member is still working at the station?

<p>Their signature must be obtained on the error sheet. (B)</p> Signup and view all the answers

Which of the following is true regarding the acceptance of a debit?

<p>The employee must sign the error sheet to accept the debit. (B)</p> Signup and view all the answers

Under what condition will freight outstandings occur if connected parcels goods remain undelivered?

<p>They are on hand at the station. (A)</p> Signup and view all the answers

What must happen for freight outstandings to be cleared when goods are auctioned?

<p>The auction proceeds must be used to cover part or all of the outstanding freight. (B)</p> Signup and view all the answers

When will freight outstandings be cleared for consignments not received at the destination station?

<p>Upon delivery to the consignee on collection of freight charges. (A)</p> Signup and view all the answers

What is a reason that freight outstandings might not be cleared immediately?

<p>Freight charges have not been paid. (D)</p> Signup and view all the answers

Which scenario describes a situation that would require an overcharge sheet for clearing outstanding freight?

<p>The consignments were withdrawn or diverted. (B)</p> Signup and view all the answers

How could special credit impact the clearance of freight outstandings?

<p>It allows for rebooking to another station. (D)</p> Signup and view all the answers

What occurs after freight charges are cleared through certified overcharge sheets?

<p>The outstanding amounts are settled. (C)</p> Signup and view all the answers

What can be done if parcels goods are lost during transit?

<p>The outstanding freight will be cleared based on merit. (B)</p> Signup and view all the answers

What determines whether freight outstandings are cleared when consignments are delivered?

<p>Payment of freight charges. (C)</p> Signup and view all the answers

What might happen to freight outstandings in the event of clerical errors during invoicing?

<p>Clearing will be handled separately with an overcharge sheet. (C)</p> Signup and view all the answers

What must the Station Master ensure regarding admitted debits before relieving staff on transfer?

<p>All admitted debits must be accepted by the relieving staff. (C)</p> Signup and view all the answers

What should be obtained from staff concerning debits not made good in cash exceeding Rs. 5?

<p>Their signature in the remarks column. (D)</p> Signup and view all the answers

What is the role of the Station Master for admitted debits due against staff transferred to other stations?

<p>To record name and designation of responsible employees. (A)</p> Signup and view all the answers

How should the Debit Advice be prepared by the Station Master?

<p>In triplicate marked 'original', 'duplicate', and 'copy'. (D)</p> Signup and view all the answers

What must the employee do regarding the Debit Advice?

<p>Sign both foils of the Debit Advice. (C)</p> Signup and view all the answers

What is to be included in the error sheet when recording an admitted debit?

<p>Name and station of the intended employee. (A)</p> Signup and view all the answers

What should happen to one foil of the error sheet after recording the details of an admitted debit?

<p>It should be returned to the Divisional Commercial Superintendent. (C)</p> Signup and view all the answers

What is required from relieving staff concerning admitted debits?

<p>They must provide written remarks on the debits. (D)</p> Signup and view all the answers

Why is it important for acknowledging admitted debits to be obtained?

<p>To prevent any future disputes over the debits. (D)</p> Signup and view all the answers

What happens if an admitted debit is not settled before an employee transfers?

<p>It will be transferred to the new station. (C)</p> Signup and view all the answers

What should be done if shortages or disallowances are not resolved by the end of the month?

<p>They should be entered in the register of outstandings. (A)</p> Signup and view all the answers

How are mistakes involving financial discrepancies reported by the Traffic Accounts Office?

<p>By debiting the station responsible via an error sheet. (C)</p> Signup and view all the answers

What is the maximum time limit set for raising debits against stations after the month of accountal?

<p>Six months (A)</p> Signup and view all the answers

What must be included in the error sheet prepared by the Traffic Accounts Office?

<p>Details of the debit and full particulars of the errors. (C)</p> Signup and view all the answers

What must happen to copies of the error sheet sent to the stations concerned?

<p>One copy must remain with the Divisional Commercial Superintendent. (C)</p> Signup and view all the answers

What happens if debits issued by the Traffic Accounts Office remain unpaid at the end of the month?

<p>They are shown as outstanding in the station balance sheet. (A)</p> Signup and view all the answers

What is the purpose of preparing error sheets in the Traffic Accounts Office?

<p>To document and rectify financial discrepancies. (C)</p> Signup and view all the answers

What form should the Station Master use to prepare the statement of recoveries for admitted debits?

<p>Form Com./R-II Rev (D)</p> Signup and view all the answers

How many copies of the recovery statement does the Station Master need to prepare for submission?

<p>Five copies (D)</p> Signup and view all the answers

What action should the Station Master take upon receiving the copies of the recovery statement from the Divisional Accounts Office?

<p>Clear the outstanding in the balance sheet (D)</p> Signup and view all the answers

Which authority is responsible for sending a copy of the recovery statement to the Traffic Accounts Office?

<p>Divisional Accounts Office (A)</p> Signup and view all the answers

What should be recorded in the 'recovery register' maintained at the station?

<p>Total amount of debits due and monthly recovery progress (A)</p> Signup and view all the answers

What happens to the recovery statement copies after the Divisional Accounts Office processes them?

<p>One copy is returned to the Station Master for record and another for the next report (C)</p> Signup and view all the answers

Under what circumstance may the Divisional Commercial Superintendent allow installment recoveries from salary bills?

<p>In cases of heavy debits (A)</p> Signup and view all the answers

What should be included in the special credit taken by the Station Master after receiving copies of the recovery statement?

<p>Only the amount actually recovered (D)</p> Signup and view all the answers

What must happen to admitted debits outstanding at joint stations?

<p>They need to be transferred to the other railway's books (B)</p> Signup and view all the answers

What is the procedure for clearing objected debits when the objection is upheld?

<p>A Credit Advice Note is sent out authorizing the taking of special credit. (A)</p> Signup and view all the answers

In what scenario can the Inspector of Station Accounts issue a credit advice note directly?

<p>During routine inspections if credit is deemed due after assessment. (A)</p> Signup and view all the answers

What should happen if the Traffic Accounts Office fails to account for the transfer memo?

<p>The matter will be reported to the Divisional Commercial Superintendent for necessary action. (C)</p> Signup and view all the answers

What procedure is followed for the clearance of debits that were initially objected to but later ruled valid?

<p>Transferred to the admitted side and cleared like other admitted debits. (C)</p> Signup and view all the answers

Under which condition will freight outstandings be cleared for parcels goods auctioned at the station?

<p>When the auction proceeds exceed the outstanding amount. (A), When the auction proceeds are equal to the outstanding amount. (D)</p> Signup and view all the answers

What is the role of the Traffic Accounts Office when an objection to a debit is placed?

<p>They review the objection and decide if the debit should be withdrawn. (A)</p> Signup and view all the answers

What must happen if the connected parcels goods have not yet been received at the station?

<p>Freight outstandings will arise regardless of receipt. (C)</p> Signup and view all the answers

Which situation would NOT require the issuance of an overcharge sheet to clear freight outstandings?

<p>When freight charges are due upon delivery. (D)</p> Signup and view all the answers

What is a consequence if a station fails to clear an outstanding debit within the required time?

<p>The matter will be escalated to the Divisional Commercial Superintendent for review. (D)</p> Signup and view all the answers

What determines the timing of taking special credit for debits that have been objected to?

<p>The arrival of the Credit Advice Note from the Traffic Accounts Office. (D)</p> Signup and view all the answers

How can freight outstandings related to consignments not received at the destination station be settled?

<p>Through collection of freight charges upon delivery. (A), They can be settled through a certified overcharge sheet. (B)</p> Signup and view all the answers

What criterion must be met for freight outstandings to occur due to undelivered connected parcels goods?

<p>The way-bill invoices must be properly accounted for. (C)</p> Signup and view all the answers

How is clearance of outstanding debits typically conducted by a station?

<p>By recovering amounts directly from the employee or via the pay bill. (C)</p> Signup and view all the answers

When will clearance of freight outstandings for consignments delivered at a siding be confirmed?

<p>Upon receipt of payments for those consignments at the station. (A)</p> Signup and view all the answers

What documentation is critical for the Traffic Accounts Office to monitor transfers?

<p>The quadruplicate copy of the transfer memo. (A)</p> Signup and view all the answers

What will happen to an outstanding amount if an employee at a station leaves without settling it?

<p>The amount will remain outstanding in the station's balance sheet. (A)</p> Signup and view all the answers

What is a possible outcome for freight outstandings caused by the withdrawal or diversion of consignments?

<p>They may require a certified overcharge sheet for clearance. (A)</p> Signup and view all the answers

What action must be taken if freight outstandings relate to parcels goods not received at their destination?

<p>They must be documented and reported to the authority. (B)</p> Signup and view all the answers

What happens to freight outstandings when consignments are rebooked to another station?

<p>They may receive special credit for clearance. (C)</p> Signup and view all the answers

What must be retained as a station record when clearing freight outstanding via a letter from headquarters?

<p>The original letter marked 'duplicate' (C)</p> Signup and view all the answers

Which financial records must be kept regarding outstanding demurrage and wharfage charges?

<p>A register of outstandings in Form Com.|G-13 Rev. (C)</p> Signup and view all the answers

What happens to outstanding charges if the remission order is awaited from the competent authority?

<p>They are recorded as unrealized until resolved (B)</p> Signup and view all the answers

When might freight outstandings for unaccounted invoices be cleared?

<p>When the matching way-bills are completed (B)</p> Signup and view all the answers

How should entries be made in the register of outstandings for consignments accounted within the same month?

<p>By recording the lump sum total only (B)</p> Signup and view all the answers

Flashcards

Internal Check Advice

A document comparing a station's balance sheet with the Traffic Account Office's checked balance, highlighting any discrepancies.

Station Balance Sheet

A financial statement of a railway station's accounts, including all receipts and payments.

Error Sheet

Documents detailing discrepancies between expected and actual balances, supporting debits or disallowances.

Accountal of Error Sheets

The process of acknowledging and incorporating errors found in error sheets into the next prepared balance sheet.

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Debit Acknowledgment

An amount due or owing for a mistake in record-keeping or payment; it must be accounted for in the station's books.

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Station Master's Duty (Advice of Debit)

The responsibility to verify debit advice, determine liability, and contact inspectors when necessary.

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Disputed Debits

Debits needing further verification or discussion, often involving consulting with Traffic/Commercial Inspectors.

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Admitting Debits

Acknowledging a financial obligation or charge against an employee

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Objected Debits

Financial charges that an employee contests or disputes, demanding further justification or proof.

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Time Limit for Objections

The period (30 days) within which a station can dispute a financial charge.

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Station Master's Responsibilities

Ensuring correct financial charge application, verifying staff details, and handling error reports.

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Employee Transfer

If an employee was transferred to another station, the procedural steps are different when admitting a debit.

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Debit Objection Details

Objections to debits must be detailed specifying reasons and supporting documents to the Divisional Commercial Superintendent.

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Divisional Commercial Superintendent (DCS)

The authority that reviews disputed financial charges and instructs Accounts to make adjustments.

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Error Sheet Handling

Error sheets have two copies, one for the station and one to send to the higher level (DCS).

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Freight Outstandings

Unpaid freight charges for goods that have either been delivered or are still in transit.

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Way-bill Invoices

Documents that track the movement and cost of goods transported by rail.

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Parcels Goods

Items shipped by rail, usually smaller packages or boxes.

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Freight Charges (not paid)

The cost of transporting goods by rail, which hasn't been paid yet.

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Certified Overcharge Sheet

A document that acknowledges mistakes in freight charges and adjusts the final bill.

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Goods Delivered in Siding

Parcels delivered to a separate track alongside the main line, usually for businesses.

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Freight Charges (Cleared)

When the freight charges have been paid and the bill is settled.

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Rebooked Consignment

When goods are moved to a different station after being initially shipped.

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Freight Charges (Cleared due to Consignment Disposal)

Settlements made for freight charges when goods are sold (auctioned), lost, or rebooked.

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Freight Charges (Cleared for Goods not Received)

Final accounting for freight charges when goods are missing, diverted, or withdrawn.

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Debit Advice

A formal document used to inform an employee about a financial debit they need to pay back. It's prepared in triplicate, with copies sent to the employee's station and the original kept as a record.

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Employee's Role

An employee receiving a Debit Advice must acknowledge the debit and either return the money or request it to be deducted from their salary.

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Debit Acceptance by Relieving Staff

When an employee transfers stations, any outstanding debits must be acknowledged before leaving. This ensures a smooth transfer and helps to clear any financial discrepancies.

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Error Sheet Foils

The original and duplicate copies of an Error Sheet must be signed by both the employee and the relieving staff to acknowledge the acceptance of the debit.

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Debit Acceptance After Transfer

If an employee is transferred to a new station after a debit is raised against them, the Station Master at the original station must track the employee and record their new details.

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Returning Error Sheet Foil

After documenting the employee's new station, the Station Master at the original station returns a copy (foil) of the Error Sheet to the Divisional Commercial Superintendent.

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Taking Debit to New Station

The Error Sheet is taken to the employee's new station, where the debit is registered and processed.

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Form Com./R-II Rev.

This form is used to record and track employee salary deductions for unpaid debits exceeding Rs. 5.

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Relieving Staff Acknowledgment

The relieving staff must sign on both foils of the Error Sheet, confirming their agreement to the admitted debits.

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Debit Advice Triplicate

The Debit Advice is prepared in three copies: the original, duplicate, and triplicate. The first two are sent to the employee, and the third stays with the Station Master.

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Overcharge Sheet

A document used to record and adjust incorrect charges or payments, specifying reasons, recipient, and the relevant item causing the overcharge.

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Station Master's Role in Outstandings

The station master is responsible for ensuring accurate accounting, reducing outstanding balances, and resolving discrepancies.

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Importance of Expeditious Clearance

Quickly clearing outstandings is crucial for accurate accounting and efficient financial operations.

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Actions to Prevent Outstandings Accumulation

Specific measures employed by the station master to minimize incorrect records and outstanding balances.

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Debit in Station Balance Sheet

An amount owed by a station, usually due to financial mistakes, recorded in the station's financial statement.

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Time Limit for Debits

Stations must account for financial errors within six months of the error occurring; exceptions may be made for audit findings or inspector-identified errors.

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Outstanding List

A document presented along with a balance sheet listing all outstanding debits or charges that have not been settled.

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Internal Check

The process of verifying financial records by comparing data sources, often involving the Traffic Accounts Office checking station records.

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Clearing Freight Outstandings

Resolving unpaid freight charges, often through overcharge sheets, letters of authority from headquarters, or adjustments when goods are lost, stolen, or sold at other stations.

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Demurrage and Wharfage Outstandings

Unpaid charges for delayed goods, often due to loading or unloading delays, or for storage charges.

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Register of Outstandings

A record kept by stations to track all outstanding items, including unpaid freight charges, demurrage, and wharfage fees.

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Consignment Rebooked

Goods originally shipped to one station, but then sent to another.

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Freight Charges Cleared (Disposal)

Settling freight charges when goods are sold (auctioned), lost, or rebooked.

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Freight Charges Cleared (Goods Not Received)

Final accounting for freight charges when goods are missing, diverted, or withdrawn.

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What is the process for recovering admitted debits from employee salaries?

If an employee owes money (admitted debit) and doesn't pay it in cash, the Station Master prepares a statement of recoveries (Form Com./R-II Rev.) to deduct the amount from their salary. This statement is sent to the Divisional Accounts Office and copied to relevant departments.

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How are debits cleared after being recovered from salaries?

The Divisional Accounts Office sends two copies of the recovery statement back to the station where the debit originated. The Station Master uses these to adjust their balance sheet and clear the outstanding debt. One copy is kept on file, and the other is submitted with the balance sheet.

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Station Master's Role (Outstandings)

Ensuring accurate accounting, reducing outstanding balances, and resolving discrepancies.

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What happens with large debits?

The Divisional Commercial Superintendent can allow the recovery of large debts in installments. The station's balance sheet is only credited with the amount actually recovered as reported by the Divisional Accounts Office.

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How are debits tracked at the station?

The station keeps a 'recovery register' (Form Com./R-10 Rev.) to record the total amount of debits owed by each employee and track the progress of monthly repayments.

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What happens with debits at joint stations?

Debits owed by employees of one railway working on another railway's lines are transferred to the working railway's books by making a special debit entry on their balance sheet.

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What is the purpose of the error sheet?

The error sheet records the details of the cash remittance note under which an amount is remitted, and acknowledges the outstanding cleared.

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What happens to an admitted debit if an employee is transferred?

The Station Master of the employee's original station needs to track the transferred employee and their new station details. A copy of the error sheet is sent to the Divisional Commercial Superintendent and the employee's new station to ensure its tracking.

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What is a recovery statement?

It's a document prepared by the Station Master to list the amount of debits owed by employees and propose their recovery from salaries.

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What happens after the Divisional Accounts Office processes the recovery statement?

They send a copy of the recovery statement to both the Traffic Accounts Office and the Divisional Commercial Superintendent, while returning two copies to the station where the debt originated, one for the balance sheet and the other for records.

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Transferring Outstanding Debits

Moving a financial obligation from one station to another, typically when an employee transfers.

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Debit Clearance Process

The steps involved in resolving a financial charge, including acknowledgment, payment, or deduction from salary.

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Credit Advice Note

A document from the Traffic Accounts Office withdrawing an incorrect debit and authorizing a credit.

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Station Master's Role

Responsible for ensuring accurate accounting, resolving financial discrepancies, and clearing outstandings.

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Study Notes

Station Outstandings

  • Station outstandings represent amounts owed to the station master but not yet settled.
  • These outstandings typically arise due to imprest cash, cashier disallowances, admitted and objected debits, freight on consignments (awaiting or ready for delivery), freight on consignments with accounted invoices, freight on sided consignments awaiting payment, diverted or over-carried freight consignments, invoices not appearing in delivery books, demurrage, wharfage, and other miscellaneous items.

Origin of Cash Office Disallowances

  • Cashiers acknowledge only the correct amount received upon remitting cash.
  • They note any discrepancies like base coins, forged notes, or short remittances.
  • The station master recovers the disallowed amount from the responsible staff, reflecting it as a credit.

Origin of Accounts Office Debits

  • Internal checks in the Traffic Accounts Office on station returns may reveal mistakes.
  • Shortcomings, undercharges, or un-accounted amounts are debited to the responsible station.
  • Error sheets detailing these debits are prepared and included in the month's balance sheet.

Time Limit for Raising Debits

  • Debits are usually raised against stations within six months of the accounting period.
  • Exceptions exist for errors identified by inspectors or audit officials.

Error Sheets

  • Error sheets detail debits, prepared in triplicate, and sent to relevant supervisory personnel.

Advice of Internal Checks

  • After balance sheet approval, Traffic Accounts Office prepares internal check advice.
  • It compares station balance sheet figures and Traffic Accounts Office totals.
  • Differences are supported by details, showing discrepancies.

Accountal and Scrutiny of Error Sheets

  • Errors or other debit notices are accounted for in the first draft of the balance sheet.

Recovery of Admitted Debits

  • Debits up to ₹5 are paid immediately in cash.
  • Large debits are addressed through recovery from the staff member's salary.
  • Cashier disallowances are resolved through immediate cash payments.

Recovery of Debits from Pay Bills

  • If cash repayment isn't possible, a recovery statement outlining the amount due from salaries is prepared (in triplicate).

Admitted Debits Outstanding at Joint Stations

  • Debits at stations serving multiple organizations are moved to the books of the responsible railway.

Transfer of Admitted Debits to Other Stations

  • Debits are transferred to the office of the employee if their transfer is requested or if the employee had accepted their transfer.
  • Transfer memos detail transfers, prepared in triplicate copies to expedite the process.

Clearance of Objected Debits

  • Objected debits are resolved when the Traffic Account Office withdraws the incorrect debit, or when the station objections are deemed void.
  • Resolved by transferring the debit into the admitted debit category.

Recovery of Debits from Staff Leaving Service

  • Outstanding debits relevant to departing staff are documented and submitted to Traffic and Divisional authorities.
  • They are documented in triplicate and submitted to Traffic and Divisional authorities

Origin of Freight Outstandings

  • Parcel way bills and invoices received at a station are accounted for.
  • Outstanding freight occurs if a freight bill exists but freight has not been paid.

Clearance of Freight Outstandings

  • Freight outstandings are cleared upon payment or transfer.
  • It is cleared when goods/parcel is delivered, the outstanding has been resolved, or in the case that it is sold.

Register of Outstandings

  • A register cataloguing outstanding items is prepared, detailing aspects such as admitted debits, freight, goods, and others.

Outstanding List

  • A comprehensive list of all outstanding items is compiled at the end of the month.
  • It's prepared in triplicate to enable relevant authorities to verify the accuracy.

Measures for Preventing Accumulation of Outstandings

  • Personnel closely monitor outstanding and take essential steps for timely clearance.

Expeditious Clearance of Outstandings

  • Commercial department is accountable for clearing outstandings like freight, demurrage, and others.
  • They take action quickly to ensure items are resolved.

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IRCM VOL-2, CHAPTER-27 STATION OUTSTANOINGS PDF

Description

This quiz covers key concepts related to station outstandings, cash office disallowances, and accounts office debits. Test your knowledge on how these financial aspects affect the operation of a station, including the recovery of discrepancies and the handling of freight consignments.

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