Operational Aspects of Accounting Entries: Jaiib/DBF Paper 2 (Module D) Unit-3
As we all know that is Operational Aspects of Accounting Entries for JAIIB Exam. JAIIB exam conducted twice in a year. So, here we are providing the Operational Aspects of Accounting Entries (Unit-3), Banking Operations and Accounting Functions (Module D), Accounting Finance for Bankers-Paper 2.
- In the case of the latter, also called “Transfer transactions” one or both of the accounts concerned may be of the customers or the internal accounts of the bank.
Types of Transactions
Transactions in a bank rate are of two types
- Both debit and credit operations on all accounts, either by customer or by the bank itself, are made by means of vouchers.
There are two kinds of vouchers
- Debit vouchers
- Credit Vouchers
Note: Which contains both debit and credit to different accounts. For the sake of convenience, the letter kind of vouchers may be called “Composite vouchers”.
The debut vouchers are, broadly the following:
- Cheques issued by the customers.
- Cheques/Pay orders issued by the bank
- Withdrawal forms received from the savings bank account holders.
- Drafts issued by other branches of the bank payable at the branch.
- Drafts issued by other banks on the branch, in terms of an approved arrangement between the two banks.
- Dividend/interest warrants issued by the bank’s customers and payable by the branch in terms of an approved arrangement.
- Travellers’ cheques issued by any branch of the bank which are presented to the branch for payment.
- Drafts/pay orders issued by the branch itself which are cancelled at the request of the customer and amount is refunded to him.
- Instruments like traveler’s cheques/gift cheques, etc, of other banks which are paid by the branch in term of an approved arrangement.
- Letter of authority singed by the customers, containing standing instructions.
- Debit vouchers prepared by the branch on its printed stationery which are authorized by a designated official of the bank and may also carry authority from the customers in some cases if the debit is to his account at the branch.
- In respect of realisation of collection instrument sent to other branches of the bank, a debit advice (which may be known by different names in different banks) prepared by the other branch may itself act as a debit voucher.
- Term deposit receipts presented for payment, renewal or premature closure.
The credit vouchers which are also of many kinds broadly encompass the following:
- Pay-in-slip filled by the customers (depositors as well as borrowers) for deposit of amounts in their accounts. Generally, the pay-in-slip are in a standard format adopted by the bank but there may be cases of a special kind of pay-in-slip in respect of some customers pursuant to a formal agreement between the bank and the customer.
- Applications for issue of term deposits, demand drafts, RTGS/NEFT, banker’s cheques, pay orders, gift cheques, traveller’s cheques and other similar instrument. Some of these applications may be made on behalf of the branch itself for the payments it has to make.
- Challans for deposits into the accounts of Central/State Government, e.g. on account of direct/indirect taxes or under schemes like public provident fund etc.
- Credit voucher prepared by the branch on its printed stationery which are authorized by an official of the bank. Normally, these vouchers are signed on behalf of the branch only but these may be some instance where the customer concerned also signs on the voucher as evidence that the transaction actually pertains to him. Example are: Deposit of locker charges (credit to an income account of the bank), deposit of money with the bank for purchase of non-judicial stamps required for execution of documents in favour of the bank etc.
- On payment of collection instruments from other branches of the bank, a credit advice (which may be known by different names in different banks) or a copy of the collection schedule received from the other branch may itself be treated as a credit voucher.
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