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

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Undertaking is prepared showing therein the opening balance as on 1st April and the closing balance under various headings.
3.A-9 ANNUAL ACCOUNTING:
3.A-9.1 After the close of the financial year on 31 st March, the accounts are
closed for the preparation of the Annual Revenue Account and the
Balance Sheet of the Undertaking as on 31 st March. Before finalizing
the annual accounts it is essential that all expenses pertaining to the
financial year are reflected in the working accounts of that year under
appropriate heads of expenditure even though unpaid or not covered
by Budget grant.
3.A-9.2 The working accounts of the Supply and Bus the Appropriation
Account, and the Balance Sheet with various appendices as
recommended by M/s. Ghatalia & Cooper and approved by the
Committee are prepared and embodied in the Annual Administration
Report of the General Manager.
3.A-10 Audit Checks applied
3.A-10.1 Paid Vouchers are checked with the Day Book of Payments to ensure
that amounts are correctly debited to respective Control Accounts.
3.A-10.2 Remittance Files are compared with the Day Book of Receipts to ensure
that amounts and account heads as entered in the Day Book of
Receipts correspond with those shown in the Remittance Files.
3.A-10.3 Outward Bill Memo are scrutinized to verify the correctness of the
credit head shown therein.