Page 242 - Account 10

f. Closing Journal Voucher
After the closing of a fiscal year, all the accounting documents, books and statements
are closed. At the closing of a fiscal year, if any accountability of any transaction remained
unclear, it should be transferred to the coming fiscal year. The total Budget Release A/c,
Budget Expenditure A/c, Cash A/c, Petty Cash Fund A/c and Consolidated Fund
(Sarbasanchit Kosh), Freeze Account (Rokka Khata) of Bank are transacted in the journal
vouchers. Journal Vouchers to be prepared at the closing of a fiscal year are as follows:

i. While closing Petty Cash Fund,
Dr. Treasury Single Account (TSA)
Cr. Petty Cash Fund
(Being amount of petty cash fund deposited into bank)

ii. While closing Cash A/c,
Dr. Treasury Single Account (TSA)
Cr. Cash

iii. While closing Budget Release A/c, Budget Expenditure A/c and TSA A/c,
Dr. Budget Release A/c
Cr. Budget Expenditure A/c
Cr. Treasury Single Account (TSA) (Freeze A/c)

iv. Closing of Advance A/c and transferring the advance to the coming year,
a. While closing the account of advance at the end of the current year,
Dr. BE (head of expense)
Cr. Person (fake clearance, of advance)
(Being the fake clearance is given to ................. person)

b. While opening the last year’s advance in the beginning of current year,
Dr. Person (fake clearance of advance of the last year)
Cr. B.E. (head of expenses)

c. While transferring accountability in the beginning of the coming fiscal year,
Dr. Treasury Single Account (TSA)
Cr. Budget Release
(Being the amount of accountability transfer received as budget release)

242 Aakar’s Office Practice and Accountancy - 10 Journal Voucher 243