Page 226 - Account 10

On the basis of expenditures made out of revolving fund, the spending office should
request for its reimbursement with necessary documents like bank cash book, statement
of expenditure, etc. within the first week of the next month.
Every month, the spending office gets budget release for the month and amount equal to
the expenditure made by it in the last month. However, the office should spend at least 50%
of the amount of revolving fund in each month to get reimbursement of the expenditures,
otherwise it gets budget release order for the amount equal to the expenditure so incurred
and it is to be adjusted from the revolving fund.

The journal vouchers to be prepared under the “Fund Reimbursement Release System”
in different cases are as given below:

a. When initial revolving fund is received
When preliminary revolving fund is received in extent to the 1/6 of the last year’s
th
total expenditure, directly amount is mentioned.
Dr. Treasury Single Account (TSA)
Cr. Initial Revolving Fund
(Being bank order received in terms of the initial revolving fund)

Eg. The office received 1/6 of the total budget expenditure of previous year of Rs.
th
24,00,000 as Initial Revolving Fund from the Office of the Treasury and Comptroller as
per the application made on 2075-4-5 in absence of appropriation and allocation of budget
for the year.
Solution:
Government of Nepal AGF No.10.
........... Office, ............... JV No:
Journal Voucher Date: 2075-4-5
Code No. Particulars L.F. B. H. No. Debit Credit
Dr. Treasury Single Account (TSA) 4,00,000
Cr. Initial Revolving Fund 4,00,000
(Being preliminary revolving fund received )
4,00,000 4,00,000
Receipt No: ................. Cheque No: .................
Amount Received: Rs. Four lakhs only. Cheque Amount:........................
Submitted By: Miss. M. Approved By: Mrs. K.
Position: Accountant Position: Chief
Date: 2075-4-5 Date: 2075-4-5
b. When Imprest/Revolving Fund Received
The District Treasury and Comptroller’s Office creates a fund to release the budget
for all operating level offices. Each operating level office receives as revolving/imprest
fund release to spend as per the demand for the payment. The specimen of journal voucher
is given below:

226 Aakar’s Office Practice and Accountancy - 10 Journal Voucher 227