Railway Accounts Department Examinations

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

Thursday, September 13, 2018

PSB Suspense



PSB SUSPENSE (Public Sector Bank Suspense)


v  It is a new sub head under Major Head 8658 - Suspense Accounts introduced w.e.f October, 1993.

v  Object: to watch the adjustments of Railway transactions in the Banks (both Debit and Credit) - except Pension payments.

v  It is operated for clearance of Cheques & Bills suspense head and RIB-Remittance Into Bank suspense head.

 Cheques & Bills  and PSB Suspense

v  When Individual cheques are encashed: Public Sector Bank branches forward (through their Focal Point branch) daily main scrolls accounting for individual cheques encashed.  After verification of the statement received from focal point branch, the DMS-Date wise Monthly Statement, the amount there of will be adjusted in the accounts as under:

Date
Particulars
Debit (Rs)
Credit(Rs)

Cheques & Bills A/c

(-) 100

PSB Suspense A/c

     100

v  When the PSBs adjust the amount of payment of encashed cheques against with RBI:

Date
Particulars
Debit (Rs)
Credit(Rs)

PSB Suspense A/c

(-) 100

Deposits with RBI A/c

     100

v  Thus the PSB Suspense head in respect of cheques encashed will be cleared thus.

v  Similar way, the operation of PSB Suspense head is operated in respect of clearance of RIB-Remittance Into Bank.  This is shown as below.

RIB-Remittance Into Bank and PSB Suspense

v  When accounted receipts through TR-Treasury Remittance notes:  Public Sector Bank branches forward (through their Focal Point branch) daily main scrolls accounting for receipt of TR Notes.  After verification of the statement received from focal point branch, the DMS-Date wise Monthly Statement, the amount there of will be adjusted in the accounts as under:

Date
Particulars
Debit (Rs)
Credit(Rs)

Remittance Into Bank (RIB) A/c
(-) 100


PSB Suspense A/c
     100


v  When the PSBs adjust the amount of receipts against TR-Treasury Remittance notes with RBI:

Date
Particulars
Debit (Rs)
Credit(Rs)

PSB Suspense A/c
(-) 100


Deposits with RBI A/c
     100


v  Thus the PSB Suspense head in respect of T.R.Notes will be cleared thus.


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