Translate

Showing posts with label Receipt Expenditure. Show all posts
Showing posts with label Receipt Expenditure. Show all posts

Reconciliation of Receipt Expenditure Figures

Reconciliation of Departmental Receipt/Expenditure Figures

-Dr. Lalit Kumar Setia

I would like to bring the attention of all Drawing and Disbursing Officers (DDOs) of Haryana on the instructions of the Finance Department recently issued for reconciliation of the Departmental Receipt / Expenditure figures with those booked by the Accountant General Haryana for the Financial Year 2021-22. A copy of the instructions is available at the following link:

http://www.finhry.gov.in/FileUploads/Upload_7e3ee3fd-cdec-4106-8d0f-ec1652850d2d_.pdf

Managerial Administration

Cash Management in Government:

All receipts are deposited in the Treasury or Bank of the State Governments and Union territories and the initial accounts are maintained at the treasuries. The detailed accounts of all receipts are kept in the office of concerned departmental officers. Similarly, all payments are made from the treasury or bank of the State Governments and Union Territory, and the initial accounts of payments are kept at the treasury, and such accounts are maintained by the officers of the concerned departmental officers.

The Accountant General office receive the monthly accounts supported with vouchers of all the transactions completed at the level of treasuries after the end of each month. Based on accounts furnished by the Treasury Officers, the departmental classified abstracts are compiled by the Accounts Officers showing monthly receipts and payments of the concerned departments under major, minor, sub, and detailed heads.

The cash balances are also reconciling as per Government Accounting Rules 1990.

Use of Computerized Accounting:

The states with Computerized Accounting can easily perform these tasks of reconciliation with the help of software in the background whenever any transaction is passed by the Treasury Officers and concerned DDOs. In Haryana, the State Government is working to find out such a mechanism, however, till today, no mechanism is adopted for automatic reconciliation with the help of software.

More about Computerized Accounting in Government:

https://drlalitsetia.blogspot.com/2020/08/computerized-accounting-systems.html

Digitalization of Vouchers and e-Receipts and e-Payments in Haryana:

Haryana is one of the leading states of India, which adopted e-Receipts and e-Payments in treasury-related transactions. The vouchers have also been digitalized. However, the task of reconciliation is still complicated. The letters are issued by the Finance Department Haryana for reconciliation of the figures of expenditure and receipt, with the accounts of Accountant General regularly by 7th of the 2nd following month.

Why reconcile the Accounts?

The reconciliation is a must to check the accuracy of the figures and trace the financial irregularities if any. It facilitates departmental control over expenditure. As per Government Accounting Rules 1990, it is essential for proper accounting and efficient management of State Finances. The reconciliation work of DDOs must be completed on time without making any delay and the same should be communicated to the B&C Branch of Finance Department.

The Head of Departments (HoDs) of Government Organizations get the work of reconciliation of expenditure and receipts with the accounts of Principal Accountant General, Haryana. As per Government Accounting Rules, 1990; at the end of each month, the balances shown in the cash accounts rendered by the Treasury Officers will be reconciled with the statements of the closing balance received from the Central Accounts Section of the Reserve Bank.

Next Page:

https://drlalitsetia.blogspot.com/2021/03/haryana-budget-2021-22-overview.html

Auto_1

Horizontal Responsive1

Popular Posts

LoP_1

Special Offer!

Funny Baba

Free Seminars

Featured post

Vision of PM Narendra Modi

The vision of PM Narendra Modi  -Rashmi Honorable Prime Minister Narendra Modi shared his vision using his monthly radio addresses through ...

Free Notes

Tips to Grow

Earn Money

Popular Posts

Free Download

Tax Saving

Fun in Life

Labels

Managerial Administration Training Course Accounting Financial Management Government Learning Purpose Income Tax Accountant's Duties Accounts Administration Administration Balance Sheet Cash Book Double Entry System Final Accounts Finance Ledgers Skills Trial Balance Efficiency Financial Financial Administration Procurement Advance Tax Compliance of Financial Rules Corruption Deduction Drawing and Disbursing Officers Excel Executive Financial Control Financial Rules Financial Skills Fraud Haryana Haryana Institute of Public Administration Interest on advance tax MS-Excel Management NPS National Pension System PWD Procedures Public Works Department Purchase Tender Terminology e-Procurement 80 CCD (1) 80 CCD (1B) 80 CCD (2) 80EE Accounts Administrator Accrual Accounting Audit Bank Budgeting Business Cash Management Central Vigilance Commission Computer Aided Accounting Operations Contractor Control Control Mechanisms Drawing and Disbursing Officer Duties of DDOs Economic Crimes Entrepreneurship Ethics Evaluation Event FFM Faculty of Financial Management Financial Analysis Financial Procedures Formula Functions of Officer GASAB Government e-Marketplace. HIPA Haryana Roadways Home Loan How How to Evaluate Human Income Tax Return India Information Information Management Infrastructure Leasing and Financial Services Integrated Financial Management Information System Interest Inventory Management Job Lalit Kumar Setia Liquidity Managing Finances Mistakes Module Money Management Morality Office Procedures Officer Officers Online Participation Participatory Financial Administration Pension Precautions Prevention of Mal-practices Public Financial Management Systems Punjab Financial Rules RTI Receipt Expenditure Reconciliation Record Management Regularizing Services Responsibility Retirement Benefits Retirement Planning SUM Function Section 234 (C) Section 24 Software Staff Story System Systematic Solutions TDS Tax Planning Tax Saving Tendering Tier I Tier II Training Needs Analysis Training Programme Training for Accounts Administrators Treasury Values Workshop Wrong deferred payment of advance tax due dates for payment of advance tax e-Billing e-Finance Applications example of computing interest on advance tax

Happy Moments

Learn and Update

Popular Posts

Auto_1

Horizontal Responsive1