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6. Bank Book

  1. The Bank Book shall be maintained by the Accountant and shall record all amounts deposited or withdrawn, in Cash, Cheque or other means from Bank/Treasury Accounts.
  2. The following items of Receipts shall be accounted on the debit side of the Bank Book;
    1. The total amount of Cash collection remitted in to Bank/Treasury Accounts;
    2. The total amount of Cheques deposited in to Bank/Treasury Accounts
    3. Amounts remitted or received directly in the Bank/Treasury Accounts including Letters of Authority, RTGS, Electronic Transfer etc.;
    4. Any other collections, Demand Drafts, Letters of Authority, etc., received in the Bank/Treasury Accounts
  3. All withdrawals and payments from the Bank/Treasury Accounts shall be accounted on the credit side of the respective Bank Book.
  4. The Bank Book shall be closed at the end of each day, the totals for the day struck and the closing balance worked out with details to show the balance in Bank/Treasury Accounts, as per the Books of Accounts.
  5. The actual balance in the Bank/Treasury Accounts as per the Monthly Statements of Account obtained from the Bank/Treasury shall be compared and reconciled with the Bank Book balance at the end of every month.

Note- Where books of accounts are maintained manually, the Cash Book and Bank Book shall be maintained in the same register, with separate columns for cash and each bank account. When the accounting process is computerised, the Cash Book and each Bank Book shall be maintained separately. The daily printouts of the Cash Book and Bank Book shall be taken, verified and signed by the Secretary at the end of each day until the electronic storage system becomes fully operational.