Stores Accounts Office Overview

Responsible for efficient store transaction management, including a complete and independent audit of all transactions, advising the Controller of Stores on accounting and finance, and assisting with data compilation.

Handles the discharge of liabilities related to received stores; maintaining records for assets and liabilities; preventing overpayments, double payments, and missed recoveries and maintaining liability registers for stock items.

Detailed records of store assets, including transaction details. Maintained through EDP (Electronic Data Processing).

Involves receiving, checking, and forwarding vouchers to a data center; periodically listing transactions, and opening/closing priced ledgers after verification. Includes checking punched data according to data processing procedures.

Scrutinizing unmatched vouchers, irregularities, and rejected vouchers for clearance, and scrutiny of printed ledgers for unusual balances to address their causes.

Revising rates and reviewing priced ledgers to ensure accuracy and proper allocation of costs.

Records liabilities from supplier/contractor orders or placed on procurement agencies and monitors their settlement.

Vouchers must be submitted daily to the Stores Accounts Office by a specific time, considering any holidays, and accompanied by a forwarding memo.

Store transactions' vouchers must be accurate and up-to-date, excluding adjustments like error corrections.

Stores depots receive all vouchers for transactions (excluding value adjustments) representing physical stock receipts/issues.

Vouchers received are checked for completeness and proper serial number sequence against a forwarding memo.

If a voucher is missing or marked as cancelled, a search is required. If not immediately found, record the missing voucher and investigate.

A document accompanying vouchers to link the vouchers to the transmission process.

Quantity discrepancies (returned, short), price list corrections after voucher dispatch can be noted as exceptions pending settlement.

Vouchers are grouped (batched) by code and date in the Accounts Office according to a pre-defined schedule determined by the Data Centre.

Vouchers for a given day must be submitted by a specified time, if no holiday is present, ensuring uninterrupted processes

Checking cancelled vouchers according to paragraph 1332 guidelines.

Do not change the order of vouchers from the depot, even if inconvenient.

Vouchers must be correctly formatted and use the correct code.

Vouchers need to be signed by authorized personnel as per rules.

Vouchers must include the correct number of supporting documents (foils).

Vouchers must be written clearly and easily readable.

All required data must be correctly entered into the voucher.

Receipt notes with different ordering and accounting units must show both.

Extra charges (like ST, surcharge, etc.) must be listed explicitly, not generally.

Vouchers should reference the requisition(s) from which items were issued.

These vouchers are used to adjust the Stock Adjustment Account by debiting or crediting Part II or III. They are used for money values only and require supporting entries in the Priced Ledgers.

Entries in the Priced Ledgers are recorded as receipts and minus receipts, reflecting the adjustments made through Stock Adjustment Vouchers.

Adjustments for errors under a rupee are not made using vouchers. Instead, a manual remark is made on the Priced Ledger against the relevant item to indicate that the error has been noted.

After the Computer Section posts the entries, they forward the vouchers to the Priced Ledger Section for onward transmission to the departments or the Suspense Accounts Section.

This form is used to suggest revisions to the Price List rates, based on discrepancies between the book average rates and the published rates.

Before closing the ledger, the Accounts Office verifies that all vouchers received from the depot have been posted.

Before closing the ledger, the Accounts Office looks for any unusual or unexplained balances in the priced ledger.

Before closing the ledger, the Accounts Office verifies that no outstanding purchase orders remain for the specific item.

The Computer Centre receives closure advices from the Accounts Office and implements them after verification.

The Computer Centre creates a list of deleted items from its files and shares it with the Depot Officer.

The procedure for re-opening priced ledgers is the same as for opening them initially.

Priced ledgers are crucial for accurate stores accounting, serving as a base for all transactions.

Instructions are provided to ledger posters to minimize errors during the posting process.

Before posting vouchers, the Accounts Office checks that they relate to the correct depot, group, and month.

Ledger posters verify that the nomenclature and price list number of each item in the return matches the ledger.

The Stores Accounts Office manages financial aspects of store transactions, ensuring liability discharge, accurate record-keeping, and preventing overpayments and missed recoveries.

The Stores Accounts Officer oversees the accounting and auditing of stores transactions, ensuring efficiency and accuracy while advising the Controller of Stores on financial matters.

Priced ledgers are detailed records of store assets that track transactions and value. They are managed by the Stores Accounts Office.

Group A focuses on receiving, checking, and verifying voucher data for store transactions, preparing this information for further processing.

Group B handles irregularities and discrepancies in the voucher data, ensuring data accuracy and investigating any issues.

Group C conducts a detailed review of pricing and the ledger itself for accuracy and consistency, ensuring no errors are missed.

The value of supplies listed on a voucher should be verified before sending it for ledger posting.

Separate Stores Accounts offices handle transactions for individual depots, improving efficiency and control.

A Receipt Note is split into Parts, with Part V used for checking quantities and values against summaries.

Receipt Orders for imported items include not just product rates, but also packing, insurance, freight, duties, etc.

Workshop-made items are valued using pre-determined rates or estimated rates when new items are introduced.

A Depot Transfer Receipt tracks the movement of materials between depots, with pricing based on summaries.

Advice Notes for returned stores use pre-determined credit rates to calculate value.

The Computer Centre is responsible for preparing a statement for all items scheduled for review, including the calculated value, actual book value, and difference between the two. This helps identify potential discrepancies.

For differences less than Rs. 200, a general scrutiny is conducted, and the difference is adjusted. This is done to avoid unnecessary investigations for minor discrepancies.

Differences exceeding Rs. 200 require further investigation, and stock adjustment vouchers are prepared with explanations for the difference before submission to the gazetted officer.

The reviewers and the staff preparing adjustments are responsible for the accuracy of all adjustments, particularly those affecting suspense heads of account.

Daily review prevents discrepancies from accumulating and becoming complex to resolve. It ensures efficient stock management and minimizes time wasted on tracing errors.

The maximum and minimum quantities of an item that should be kept in stock to avoid shortages or overstocking.

They adjust the Stock Adjustment Account by debiting or crediting Part II or III. Used for money values, requiring supporting entries in the Priced Ledgers.

An account used to record adjustments related to stock deficiencies, undercharges, and overcharges. It is debited for minus receipts (stock decreases) and credited for stock increases.

A document used to correct a stock transaction where the price charged was less than the actual rate. It's used to adjust the error and update the priced ledger.

A document used to correct a stock transaction where the price charged was more than the actual rate. It's used to adjust the error and update the priced ledger.

Calculated rates used for subsequent stock issues, based on the combined price of all previous stock purchases.

A voucher used to make adjustments to the Stock Adjustment Account, recording financial changes without changing the physical stock counts.

Priced Ledgers are used to support entries in the Stock Adjustment Account. They provide details on the actual cost of stock items affected by the adjustments.

Undercharges under Rs. 200 can be directly adjusted to the Stock Adjustment Account without being recorded in the Priced Ledgers. It's a quicker way to handle small discrepancies.

It's a document used to propose changes to the price list based on discrepancies between market rates and the current average rates calculated from the Priced Ledgers.

The Computer Centre receives instructions from the Accounts Office for closing the Priced Ledgers. They verify these instructions before implementing the closure process.