CHECK OF GOODS BALANCE CHECK OF GOODS BALANCE SHEETSHEET

BY:BY:CHANDAN K. VERMACHANDAN K. VERMA

IRAS(P)IRAS(P)

Station Balance SheetStation Balance Sheet

Station Balance Sheet is prepared separately for Station Balance Sheet is prepared separately for Coaching and Goods transactionsCoaching and Goods transactions

Station Balance Sheet is the ‘personal accounts’ of the Station Balance Sheet is the ‘personal accounts’ of the Station MasterStation Master

On the debit side of the Balance sheet are shown the On the debit side of the Balance sheet are shown the items of earning for the accounting of which the Station items of earning for the accounting of which the Station Master is responsible and on the credit side are shown Master is responsible and on the credit side are shown the amount remitted by the Station Master to the the amount remitted by the Station Master to the cashier in ‘cash’ or ‘vouchers’cashier in ‘cash’ or ‘vouchers’

Balance Sheets are prepared monthlyBalance Sheets are prepared monthly

Check Of Goods Balance SheetCheck Of Goods Balance Sheet

The check of Balance Sheet in the Account Office The check of Balance Sheet in the Account Office mainly consists of bringing the figures of various traffic mainly consists of bringing the figures of various traffic earnings into accord with the corresponding figures in earnings into accord with the corresponding figures in connected returns connected returns

The connected returns are further checked with basic The connected returns are further checked with basic records to see that correct amount is reflected records to see that correct amount is reflected everywhere everywhere

Items In Goods Balance SheetItems In Goods Balance Sheet DEBITSDEBITS CREDITSCREDITS

Opening BalanceOpening Balance Freight OutstandingFreight Outstanding

Debit OutstandingDebit Outstanding

Wharfage & DemurrageWharfage & Demurrage

Siding Charges, etcSiding Charges, etc Current TransactionsCurrent Transactions Local\ Through TrafficLocal\ Through Traffic

[ MPA (L), MPA (F), Outward [ MPA (L), MPA (F), Outward

Paid (L)\ Outward Paid (F) ] Paid (L)\ Outward Paid (F) ]

Wharfage & DemurrageWharfage & Demurrage Special DebitsSpecial Debits Sundry EarningsSundry Earnings

Debits raised on behalf of otherDebits raised on behalf of other stn.stn.

Debit raise by TIA’sDebit raise by TIA’s

Auction & Sales, etc Auction & Sales, etc

CashCashVouchersVouchersSpecial CreditsSpecial Credits

Paid-On ChargesPaid-On Charges

Write OffWrite Off

RebookingRebooking

Debits Discharged, etcDebits Discharged, etcClosing balance Closing balance

Freight OutstandingFreight Outstanding

Debit OutstandingDebit Outstanding

Wharfage & DemurrageWharfage & Demurrage

Siding Charges, etcSiding Charges, etc

Check Of DebitCheck Of Debit

1. 1. OPENING BALANCE: OPENING BALANCE: By comparing Closing Balance shown in the previous By comparing Closing Balance shown in the previous

Balance SheetBalance Sheet Difference should noted in the ‘List of Errors’Difference should noted in the ‘List of Errors’2. CHECK OF LOCAL/ THROUGH TRAFFIC 2. CHECK OF LOCAL/ THROUGH TRAFFIC

RETURNS WITH BALANCE SHEET: RETURNS WITH BALANCE SHEET: By comparing the figures of Foreign/ Local/ Through By comparing the figures of Foreign/ Local/ Through

Traffic Returns with corresponding figures in the Traffic Returns with corresponding figures in the Balance SheetBalance Sheet

If the amount of the Return is more than that If the amount of the Return is more than that accounted for in the Balance Sheet, the difference accounted for in the Balance Sheet, the difference should be noted in the Debit column of the ‘List of should be noted in the Debit column of the ‘List of Errors’ and debited to the stationErrors’ and debited to the station

Check Of Debit (Contd.)Check Of Debit (Contd.)3.3. CASH TRANSMIT NOTES OF MISCELLANEOUS CASH TRANSMIT NOTES OF MISCELLANEOUS

RECEIPT:RECEIPT: By comparing Cash Transmit Notes of the Misc. By comparing Cash Transmit Notes of the Misc.

Receipt with the monthly statement sent in this Receipt with the monthly statement sent in this respect along with Balance Sheetrespect along with Balance Sheet

Cash Transmit Notes of Misc. Receipt is send daily to Cash Transmit Notes of Misc. Receipt is send daily to Account Office along with the Cash Remittance notesAccount Office along with the Cash Remittance notes

4.4. ERROR SHEET: ERROR SHEET: Through List of Errors and Register of Error Sheet Through List of Errors and Register of Error Sheet

issuedissued For not-admitted not-adjusted debits adequate For not-admitted not-adjusted debits adequate

reasons should be given in the list of outstandingreasons should be given in the list of outstanding

Check Of CreditsCheck Of Credits

1.1. CREDIT ON ACOUNT OF CASH:CREDIT ON ACOUNT OF CASH: The Cash acknowledged by cashier in the Cash The Cash acknowledged by cashier in the Cash

Remittance Note should be posted daily in the Cash Remittance Note should be posted daily in the Cash Register separately for each stationRegister separately for each station

The entries in the Register for each day is totalled The entries in the Register for each day is totalled and verified with the total and verified with the total inin traffic cash check sheet traffic cash check sheet for the dayfor the day

Credit taken by station under the head Cash in Credit taken by station under the head Cash in Balance Sheet should be checked with the monthly Balance Sheet should be checked with the monthly totals shown in Cash Register totals shown in Cash Register

Check Of Credits (Contd.)Check Of Credits (Contd.)

2.2. CREDIT ON ACCOUNT OF VOUCHERS:CREDIT ON ACCOUNT OF VOUCHERS: The main types of vouchers received at the stations The main types of vouchers received at the stations

are- Credit Notes, Warrants, Pay Orders, etcare- Credit Notes, Warrants, Pay Orders, etc Vouchers are send daily to the Traffic Account Office Vouchers are send daily to the Traffic Account Office

along with the Cash Remittance Notesalong with the Cash Remittance Notes The total amount for which credit is taken in the The total amount for which credit is taken in the

Balance Sheet under the head vouchers should be Balance Sheet under the head vouchers should be verified with the total in voucher registerverified with the total in voucher register

Check Of Credits (Contd.)Check Of Credits (Contd.)

3.3. CHECK OF CLOSING BALANCE: CHECK OF CLOSING BALANCE: Checked with the help of ‘List of Outstanding’ send Checked with the help of ‘List of Outstanding’ send

along with the Balance Sheetalong with the Balance Sheet List of Outstanding contain details of all outstanding List of Outstanding contain details of all outstanding

items except those pertaining to current monthitems except those pertaining to current month The item included in the List is checked in account The item included in the List is checked in account

office by comparison with the previous month’s list office by comparison with the previous month’s list and with the record of current debitand with the record of current debit

The total of list is also compared with the Closing The total of list is also compared with the Closing Balance of the Balance Sheet Balance of the Balance Sheet

Figures posted on the Debits and Credits side Figures posted on the Debits and Credits side of the Balance Sheet including Opening and of the Balance Sheet including Opening and

Closing Balance is totaled and talliedClosing Balance is totaled and tallied