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revenues and expenditures. The Shyaha Srestha Pranali was an advanced form of
recording the transactions which remained in practice upto fiscal year 2022/23 BS.
After the establishment of democracy in 2007 BS, the government became more
responsible to maintain books of accounts. As a result, the budget system was started
in 2008 BS. In 2016 B.S. "Procedure Rule for Government Fund Expenditure 2016"
was enacted with a view to bringing uniformity in financial administration. Then, in
Baisakh 2017 BS, Bhuktani Sresta Pranali was introduced. But Bhuktani Sresta Pranali
could not last long as New Accounting System was introduced as per recommendation
of accounts committee. On 20th Magh, 2017 an account committee was formed to
study and make suggestions for an appropriate and scientific accounting system.
After the detailed study for 288 days, the committee presented a draft to the finance
secretary which got recognition from the Auditor General and final approval from
king Mahendra in 2018 BS. This accounting system is known as 'New Accounting
System" of Government of Nepal, which was scientific and systematic. This system
has been followed by Government of Nepal since the fiscal year 2019/20 and still is in
practice these days.

Types of Accounting System used in Nepal

Before the introduction of New Accounting System, various accounting systems
were in practice in Nepal. A single and uniform system of accounting was lacking to
record the financial transactions. A short introduction of accounting system that was
in practice in Nepal before New Accounting System is presented below :
1. Wasil Banki Sresta Pranali (jfl;n afFsL >]:tf k|0ffnL) : It was a simple statement to
record the revenue and expenditure of government. It was suitable for those
offices which were established to record a small number of transactions and
for a short period of time. It was based on single entry system of book-keeping
where the revenues were recorded on one side of page and expenditures on the
other side. So, it was easy to find out total revenues and expenditures under
it; books were closed at the end of year or after the completion of work. This
system was not able to analyze the transactions under a number of heads.
This system was incomplete and unscientific, so it could not fulfill the need of
increased transactions.
2. Syaha Sresta Pranali (:ofxf >]:tf k|0ffnL): This system was propounded by Khardar
Gunbant in 1936 BS. It was more scientific and systematic than Wasil Banki
Sresta Pranali. This system was in practice in Nepal upto 2022/023 BS. It proves
that Shyaha Sresta pranali had a wide scope. Revenues and expenditures could
be recorded on the same leaf along with their total and balances. Under this
system, the following three types of books were used.
i. The Syaha (:ofxf) : It was an original record of financial transactions like
journal voucher of modern double entry system. It was prepared in a 'T'
shape and divided into two sides, left and right. Left side was to record
revenues and right side was to record expenditures. A leaf was folded

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