Daily Closing of Treasury PDF

The daily closing of a treasury is made as follows:- a. Treasury maintains subsidiary registers in respect of receipts and payments Major Head wise. b. Daily total of transactions of subsidiary registers in respect of receipts and payments are incorporated in the cash book by the Acc...

The daily closing of a treasury is made as follows:- a. Treasury maintains subsidiary registers in respect of receipts and payments Major Head wise. b. Daily total of transactions of subsidiary registers in respect of receipts and payments are incorporated in the cash book by the Accountant. Then the transactions are totaled and the Accountant draws a **balance sheet**. c. The treasury officer, then checks the cash book with vouchers and posting in the subsidiary register as entered in the cash book. He also verifies a certain no. of totals, the rest of which are checked by a clerk other than the Accountant. d. The treasurer also makes totals both sides of the cash book and draws up a **balance memorandum** giving details of notes, coins etc comparing with the balance in his hands. e. As and when the results of balance sheet agree, the treasury officer signs the cash book and the balance sheet and the Accounts for the day are close. Then the strong room is double locked, sealed and handed over to the guard for the night.