Railway Accounts Department Examinations

Showing posts with label Accounts Note. Show all posts
Showing posts with label Accounts Note. Show all posts

Sunday, February 2, 2020

Stock Sheets

Stock Sheets / Stock Verification Sheets

·         Source: Stores Code Chapter 12

·         Whether book balances of Stores agree with physical balances?  This is the item to be replied while submitting Annual Statement of Stores transactions of Zonal Railway to Railway Board duly signed by PFA and PCMM.
·         Object: To achieve the above object,  an independent stock verification is to be done by Accounts Stock Verifiers (ASVs).
·         To brought out the discrepancies between Ground balances and Ledger balances of the stores

·         Prepared by SV - Stock Verifier

·         prepared in triplicate from the Field Book of SV in Form No. S 1260

·         A Stock Verification Report has to be prepared at the time of posting the Priced Ledger showing the book balance, the ground balance as per the Stock Sheet and the excess / shortage, if any.

·         Numbering of Stock sheets serially for each unified group of stores


1.    Stock sheets / Stock Verification Reports for different categories and qualities of stores should be clearly so marked.
2.    Entries should be made on one side only.
3.    Space of 1 or 2 lines  - Between two entries
4.    Ensure that all the entries in the Field book are carried to Stock sheets or not, by giving cross reference  to the field book number and its page & item number.
5.    The columns of PL Balances, Rate & Value  - filled up by Accounts Office at the time of posting of Priced Ledgers (PL)
6.    For items that have not verified  - Remarks such as 'Average weighment', ' Measurement' , ' book balance accepted' should be given in the remarks column.
7.    Signed by the Stock Verifier (SV) and Subordinate incharge of the Stores verified such as DMS - Depot Material Superintedent.
8.    Adjustment / Supplementary Stock Sheets - Quantities that found subsequent to their verification.
9.    All stock sheets should be entered in manuscript register in Form S 3261
10. Finalized - within 6 months.
11. In case, the responsible staff for shortage is to retire, this matter should be finalized before his/her retirement.
12.  The Stock sheets and the explanations there on should be scrutinized by the Sr.ISA (Sr Inspector of Stores Accounts) to see that every discrepancy has been explained or not.  Further explanations should be called for in regard to remarks that are unsatisfactory. "Accounts Note" will be issued in such cases.
13. The explanations should be represent facts, clear, intelligible and definite.
14. In case of analogous/similar items (where sizes only differ) - adjustments i.e., excess in one category adjusted into shortage of another category may be passed up to 2 % of the transaction since the date of last verification.
15. Cost of the missing articles is invariably recovered from the responsible staff and the same should be noted in manuscript register of recoveries in Form No. S. 3263

Shrinkage admissible Percentage
1. Chalk, White
2. Pumice
3. Asbestos packing
Not more than 2.5% moisture
4. Coir, loose.
5. Coir, yarn
6. Cotton , raw
7. Cotton , spun
8. Cotton, waste
9. Gum country
10. Jute, country
11. Jute, gasketing
12. Log line
13. Ropes
14. String, scotly
15. Wool, Worsted
Not more than 5%
16. Band, Catgut
17. Brooms, Goa
18. Cane, split
19. Hides and leather goods
20. Moonj, Raw
21. Moonj, Raw
22. Soap
Not more than 10%

   Additional items (for above shrinkage percentages) may be added with the approval of the General manager.

Accounts Note:

·        Incorporated - All discrepant items for which satisfactory explanations have not been offered by the executive
·        Form S 3266
·        Care should be taken to group all items of similar nature where identical information is required
·        The salient features of each case of discrepancy should be pointed out in the form of Accounts Notes
·        Submitted to Stores Accounts Officer for final disposal.
·        Monitoring and control of Issue Notes - A manuscript register of Accounts Notes in Form No. S. 3267 - maintained with separate part for the various divisions/depts/depots.
·        The date of final disposal should be noted in the above register.
·        Register of Important Irregularities detected by Stock Verification staff to incorporate the result of the internal check. Maintained in the Accounts Section. - To facilitate the preparation of the memorandum of results of internal check required to be submitted to the Railway Board. 
·        Half - yearly Report to GM - on General review of Stock Verification work
·        Depot Stock Sheets - Prepared by Stores Depots.  The object and disposal is as same as of Stock Sheets prepared by Accounts Dept.