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4. Bhuktani Sresta Pranali (e'QmfgL >]:tf k|0ffnL) : The budget system was introduced
in 2008 BS and Five Year Plan was started from 2013 BS. These events made
the government more responsible and accountable to the public income and
expenditure. An act "Procedural Rules for Government Fund Expenditure" was
enacted in 2016 BS for the systematic record of revenue and expenditure of
public funds. As a result of that rule, Bhuktani Sresta Pranali was introduced
in 2017 BS. It was more scientific and was based on double entry system of
book-keeping. Under this system the government offices were divided into
central office and operating level office. The striking features of this system
were financial control through audit, concept of decentralization, freezing of all
budget amounts and depositing all freeze amounts into the consolidated funds
of Government of Nepal. This system was a major breakthrough in accounting
history of Nepal.

New Accounting System

Accounting system being used in Nepal i.e. Syaha Sresta Pranali, Form Sresta Pranali
and Bhuktani Sresta Pranali, proved incomplete, unsuitable and lacked uniformity.
Due to these all, need of complete and uniform accounting system was felt. In other
words, existing accounting system could not keep all revenues and expenditures of
the government in a more systematic and scientific way. In this situation, to make
recommendation for a systematic and scientific accounting system, an account
committee was formed on Magh 20, 2017 B.S. The committee was headed by Account
General and other members of the committee were:

- Under Secretary, Foreign Aid Department, Ministry of Finance (MOF)
- Public Administration Advisor of USAID
- Accounting specialist of UNO
After a detailed and long study of 288 days, the committee reported a draft with
suggestion and recommendation for scientific, modern, improved and decentralized
accounting system in Nepal.
The draft was approved by Auditor General on 20 Magh, 2018 BS and by Government
of Nepal on 2 Chaitra 2018 BS. After the approval the government implemented
that system of accounting since the fiscal year 2019/2020 BS, which was called 'New
Accounting System'. This system is still in practice today. It is popularly known as
Government of Nepal's Accounting System. It was implemented in the offices of
Kathmandu Valley since the fiscal year 2019/2020 BS. Further, it was implemented in
Bagmati and Narayani zones in the fiscal year 2020/2021 B.S. Since Shrawan 2025 BS,
it was introduced and implemented throughout the country. This accounting system
brought uniformity in accounting all over the country.

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