Railway Accounts Department Examinations

Showing posts with label AG Suspense. Show all posts
Showing posts with label AG Suspense. Show all posts

Sunday, May 17, 2020

PAO Suspense / AG Suspense

PAO Suspense / AG Suspense

«  Full form: Pay & Accounts Officer Suspense / Accountant General Suspense
«  Source: Chapter 4 of Accounts Code (Para No. 457 A)
«  It is one of the Suspense Heads operated in Indian Railways in respect of its transactions with other Central Govt Depts/State Govts.
«  For the settlement  of inter departmental  and  inter governmental transactions (other than defense and postal) arising in the  books of  Railway  Accounts Offices, PAO  suspense/AG suspense  head is operated.
«  Pay and Accounts officers / Accountant Generals will not settle transactions with railways through the Reserve Bank and vice-versa. All their dues will be paid/received at weekly intervals on cash basis i. e., by cheques or Government drafts.

«  Journal entries of PAO/AG

1) When a Claim is preferred 

                                PAO/AG Suspense        Dr.               xxxx
                                                To Service Head/Earning Head    Cr              xxxx
( Claim is preferred on Central Govt Dept or State Govt for rendering services to them by Railways)

2) On receipt of Cheque/Demand Draft

                                Remittance Into Bank A/c      Dr                  xxxx
                                                To PAO/AG Suspense          Cr                      xxxx
(On Receipt of Cheque/Demand Draft and cleared the PAO/AG Suspense Head)
«  The balance under this  head is  exhibited on  the Liabilities  Side of the  Balance Sheet of Indian  Railways. 

Remittance Transactions @ Indian Railways
Railways & other
Govt Depts
PAO Suspense
PAO Suspense
All Depts in Central Govt
(except Postal & Defense)
AG Suspense
AG Suspense
State Governments
Adjustments through RBI
M - Remittance
Reserve Bank Suspense
Postal & Defense

«  For article on Reserve Bank Suspense - Click here