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Accounting Manual


Accounting starts the day business starts every business needs accounting otherwise it
is just an unorganized system or just Barter system.

Knowing the Organization is the prime role of person before he takes up any
responsibility in the organization.

Accounting Procedures
1. To start with accounting first the person has to know the organization and start with
the filling so he get complete knowledge of document which organization handles.
2. Once he is through with the knowledge of organization his responsibilities to
organization starts on that day itself.
3. Once the P.O is made by purchase department and goods are received by stores the bill
is delivered by supplier to office.
4. Once the bill is received at reception the received stamp with the date of receipts is
put on the bill with the time. From there reception bill comes directly to accounts
department and it is registered in the receipt register of Accounts department .once
the date of receipt is put on register then it directly should be put in the system with
the date of receipt in narration.
5. From there the bill is to be attached with checklist containing various formalities
(Mention Below) (Check List consist of 1) PO is attached to bill 2) Goods Received note
attached 3) P.O Name of Good received same as per PO & Grn 4) PO rate same as per
Bil 5 P.O Quantity as per Bill 6) Po is signed by Sir7 ) Credit Period for Bill 8) Reason for
holding the bill above credit period .
6. P.O need to sign by purchase manger as well Director if it is not signed it should be first
signed and then only the bill can be processed further.

Bill need to be attached with the PO and Grn and with goods delivery challan (if given
by supplier). On GRN and on bills , PO no. should be mentioned and checked whether
they are same. Grn and PO should be of same material.

8. P.O is checked with the name of product and item mentioned in the bill then the
supplier given in the PO and bill is same is verified , after that rate charged are same
as mentioned in PO is verified.

After verifying these things bill is passed and the cheque is issued according to the
credit period given.

10. Other bills where the PO is not issued that is if statutory payment like paying of
advance tax or vat or service tax or freing benefit tax concerned person should be
authorized to pass the amount after joining the calculation for paying the tax .
(Annexure for payment of taxes)

11. Payment like the electricity bill telephone bills or broad band or similar bills limit are
sanctioned (as per annexure) , if the bill comes up to that limit they are to paid
without any sanction from higher authority and if they are more than that limit then it
should be send for approval to higher authority.
12. Bills like contractor payment the bill should be first send to billing and estimation
department where the work done and Quality would be checked. After Quality check
the amount for billing should be verified to with the concerned work order and
schedule of payment and rate should be verified .if there is schedule for payment of
contractor after particular completion of work then it should be done only on
completion of that work. Work Order if contains penalty on delay of days or extra use
of material then it should reduced from the amount payable.
13. Labour payment should be done depending on muster record of there attendance and
work done muster should be signed by the labour before making payment. Payment to
them can be made to individual labour or to the head of labour who has brought this
labour force.
14. Salary payment would be done according to the salary sheet produce by hr department
only taxes should be calculation before payment of salary. taxes should be cut from
time to time .
15. Professional payment like payment to architecture or C.A or any other consultant
should be made only on payment on rising of bill. Service tax should be paid only on
mentioning of service tax no. on the bill. If not mentioned on the bill no service tax
will be paid extra. TDS has to be deducted according to the rates given .If there is
service contract with service provider the bill should be verified first with that
16. Bills like advertisement or other expenses need to be either budgeted or it needs to be
send to higher authority for sanctioning.
17. No cash payment can be mad above Rs. 20000 for particular expenses to particular
party. Expenses above Rs. 20000 would amount to disallowance of expenditure in
income tax.
18. Any imprest issued to employee should be nullified to his account within 15 days.
Imprest before giving should be sanctioned by head of the department or concerned
authorized person. If the expenditure for which imprest has been issued has not been
incurred within 15days that amount should be returned back again new imprest should
be issued to him.