Administration Manual - B.E.S.T. Undertaking.

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3.A-7.2.1 Receipts: All receipts in respect of electricity bills, Bus Passengers,
Consumers Advisory Sales and Service, Deposits, Meter Connection
fees, are posted in the General Ledgers through the Day Book of
Receipts.
3.A-7.2.2 Payments: Disbursements made from the BEST Fund either by
cheques or cash or E payments are recorded in the Day Book of
Payments.
3.A.8 Monthly Accounting: In addition to the postings made in the General
Ledgers from the Day Books of Receipts and Payments, a number of
Journal Entries which are recorded in the Journal are passed for
allocating income and expenditure, adjustments, rectifications,
clearance of suspense heads, etc.
Some of the important allocation statements are –
1) Salaries, Wages and Allowances;
2) Stores Issued and Returned;
3) Stores Purchases;
4) Grainshop Sales;
5) Retentions from Paysheets and Salary Bills;
6) Labour Financial Statement;
7) Material / Financial Statement;
8) Cost Statement;
9) Bills Receivable;
10) Outward Bills Deposit;
11) Ex-employees Dues and Recoveries.
At the end of each month, totals of receipts and expenditure for the
month as well as cumulative totals to the end of the month from 1 st
April are taken. As required under Section 135 and 137A of the
M.M.C. Act, an Abstract of Receipts and Expenditure of the