Subsidiary Accounts Records
5 marks question in 2016 Books & Budget (with books)
« Para 311 of Indian Railways Accounts Code Clickfor Chapter 3 of Accounts Code Vol. one
« In addition to General Books i.e., 1) Daily Cash Book 2) Monthly Cash Book 3) The Journal 4) The Ledger, the following Subsidiary Accounts Records should be kept by each Accounting circle.
1. Register of Earnings - Should record the earnings of the Railway under all the detailed heads of classification prescribed in Volume II of the Indian Railway Financial Code. These registers may be kept in convenient parts to facilitate application of statistics of earnings.
2. RAR - Revenue Allocation Registers - A separate Allocation Register should be maintained for Abstracts A to N. Posted separately for expenses whether by cash or book adjustment (through journal voucher -JV).
3. Registers of Works - A collective record of expenditure designed
A. Control of expenditure with reference to the Estimates
B. For effecting budgetary control
C. To enable any material modification occurring being spotted.
4. Suspense Registers - Reflect transactions which cannot immediately be charged to final heads. Examples are
A. Demands Payable Register
B. Misc. Advances Register
C. Loans & Advances Register
D. Deposits unpaid Register
E. Deposits Miscellaneous Register
5. Register of Works expenditure classified under different sources of finance i.e., Capital, DRF, DF etc
« These records are of the utmost importance in as much as they are designed to exhibit the details of the transactions under Revenue, Capital, DRF, DF & Suspense heads.
« Separate set of the above subsidiary registers should be maintained to record the expenditure met from the contingency Fund.
« Posted directly from the Vouchers or Summary statement of vouchers like CO7.