Summary: Checkpoints for Submission of Monthly Accounts

Overview

To avoid massive discrepancies accumulating by the close of the Financial Year, all Ministries and Departments are required to ensure the correct accounting of all transactions before submitting their monthly accounts. Furthermore, Principal Accounts Offices have been instructed to submit their Monthly Accounts strictly by the 8th of the following month.

Key Checkpoints to Observe

• Expenditure lacking a budgetary provision must be reviewed, and negative bookings under Expenditure heads should not be used to bypass proper authorization.
• Balances resting under Suspense Heads, 'Expenditure Awaiting Transfer' (EAT), and 'Receipts Awaiting Transfer' (RAT) must be regularly reviewed and cleared promptly.
• High-value recurring expenditures and receipts that are classified under the generic Minor Head "800-Other Expenditure/Other Receipts" need to be reviewed and properly reclassified.
• No expenditures should be booked under specific restricted Major Heads (such as 2552, 4552, 6552, 0006, 8014, 8015, 8016, and 8659) unless specific departmental exceptions apply.
• The routing for NPS subscriptions must be done through a specific head (0071.01.500.01.00.00), and this balance must read as NIL by the end of each month.
• The 'Health and Education Cess' must be levied at 4% of Income Tax (inclusive of surcharge), replacing the former Primary Education and Secondary & Higher Education Cesses.
• Deleted accounting heads or improper dummy heads (like Minor Head '000' or Sub Head '00' when standard Sub Major Heads exist) must not be reflected in the accounts.
• Bookings under Major Head 8009 (GPF) for Group 'D' staff require review, as these officials have transitioned to Group 'C' status.
• Transactions relating to the Central Government Employees Group Insurance Scheme (CGEGIS) must distinguish correctly between the new scheme (introduced in 1980) and employees who joined prior to 1980 on the old scheme.
• The Major Head 8000 (Contingency Fund) must reflect a zero balance at the end of the financial year.