ANDHRA PRAGATH GRAMEENA BANK (Sponsored by SyndicateBank) HEAD OFFICE::KADAPA

Transcription

1 ANDHRA PRAGATH GRAMEENA BANK (Sponsored by SyndicateBank) HEAD OFFICE::KADAPA Circular No: BC ACCTD Date: SUBMISSION OF BALANCE SHEET AND PROFIT & LOSS ACCOUNT FOR THE YEAR ENDING Attention of all the Branches and ROs is invited to the captioned subject. All the Branches and Regional Offices are aware that the Balance Sheet, Profit & Loss Account and enclosures such as Trial Balance & Annexure-1 & II (here in after called as financial statements) shall be drawn and submitted to the Controlling Offices on every Quarter end. The Quarter ending March 2007, which is also an Year ending, is fast approaching and hence we advise all the Branches and Regional Offices to: 1. Complete the interest application on all loans and advances as per schedule before 30 th March 2007; 2. Complete the interest application on all Deposits before 30 th March 2007; 3. Square up all the long pending entries under Branch Adjustment, Suspense, Sundry Advance, Dormant Account, Unclaimed Deposit, Matured Deposit and all other heads of Accounts appearing under Sundry Assets and Liabilities; 4. Charge all the expenses for the current financial year i.e. consumption of Stationery, payment of News Paper bills, Electricity bills, Telephone bills, Premises Rent etc.; 5. Verify that all charges such as Inspection charges, Folio charges are levied to Loan accounts, Deposit accounts and Safe deposit locker rents are collected without any arrears ; 6. Draw ORW 4 to 7correctly in all respects with Cr. IBA No.s, DD numbers, Amount, Branch Codes etc, furnished correctly; 7. Draw Trial Balance correctly with all particulars such as Dates, Branch Names, code No.s, average cash in hand and bank balances; 8. Up date the Day book and General Ledger, prepare the statements and submit to RO/HO, as the case may be, with in the time schedule as suggested here below. Contd. 2

2 Circular No: BC ACCTD, Date: A. SUBMISSION OF WORKING RESULTS: 1. The branches shall send their working results to their respective Regional Office on itself by FAX/Telegram/Telephone by 5 P.M. in the proforma given in Annexure III 2. The Regional Offices in turn shall send consolidated working results to Head Office, Accounts Department on by Noon by FAX/ e mail B.SUBMISSION OF FINANCIAL STATEMENTS: The branches shall prepare Balance Sheet, Profit & Loss Account, Trial Balance and Annexure-1 & II in triplicate and hand over one copy to their respective Regional Office by retaining one copy at the branch level and another copy should be filed in a separate file along with other audit statements to hand over to the auditors at the time of Branch audit. 1. The Branches shall send their financial statements to the Regional Office as on The Regional offices in turn shall consolidate the financial statements so received from the branches including their own statements and submit it to Head Office, Accounts Department on by A.M. in CD & hard copy along with Financial statements by Speed Post/Courier. Meanwhile ROs are advised to send the information by e Mail to the Head Office Accounts Department. The Regional Offices are advised to check the CDs before sending to Head Office and confirm that the CDs are Virus Free and send it in a protected cover to prevent physical damage. Hard Copies must necessarily be submitted along with CDs. It shall be noted that the submission of mere CD without Hard Copy will not serve the purpose. The information should be in Microsoft Excel only. GUIDELINES FOR PREPARATION OF BALANCE SHEET & PROFIT AND LOSS ACCOUNT: Even though detailed guidelines for preparation of Balance Sheet and other financial statements were given in the past, some of the branches are still committing certain mistakes. Contd..3

3 -3- Branches are advised to keep the Day Book and General Ledger up to date. Branches shall invariably incorporate the previous year figures (31/3/2006) well in advance in the Balance Sheet format and keep ready for incorporating present year figures. Branches and Regional Offices are also advised to submit the figures for the current and previous years in Annexures also. The Balance Sheets without Annexure 1 & II will be treated as non-submission of Balance Sheets. Regional Offices are advised to take care and see that all branches in their Region submit the details required by Head office: Accounts Department 1.INTEREST EXPENDED (S.B. ACCOUNT) As usual, the interest on S.B. Accounts might have been credited by the branches by debiting IOD account for the calendar year 2006, by For the interest on SB Accounts from 1st January, 2007 to 31 st March, 2007 Branches have to calculate accrued interest at 1/4 th of interest on SB account for the calendar year 2006 for SB Accounts and provision has to be made for the same. Branches shall reverse the existing provision, if any and slips are to be passed afresh, in this regard. 2. ESTIMATION OF OTHER EXPENDITURE: For the estimation of expenditure pertaining to financial year , which is not paid but payable during the next financial year, shall be provided for by passing slips and shall be charged to P &L account For Example, if bills for News paper, Electricity consumption etc., are not received for payment before , the amounts of such bills are to be calculated and kept in Out Standing Charges account by debiting to General Charges A/c Debit : General Charges A/c ( Cont., lighting etc, ) Credit : Outstanding Charges A/c ( Sch. 5 Others ) SUBMISSION OF ANNEXURES While consolidating the previous quarters Balance Sheet figures, certain discrepancies were observed by the Head Office, in Annexures sent by the Branches. Branches have to give particulars of the amount furnished in the Item No. V of Schedule 5, Item No. VII of Schedule 11 and item No. VIII of Schedule 16, in Annexure I, against individual items under A, B, C respectively. Contd 4

4 Circular No: BC ACCTD, Date: Some Branches are simply giving totals of Schedules 5,11 & 16, in Annexures. 4 While filling up the Annexure I, branches have to give particulars of other items in order to consolidate the same at Regional Office and for the purpose of study at Head Office level. Furnishing Figures in Schedule -5 of Balance Sheet: Branches are issuing DDs on our own branches and on Syndicate Bank branches viz. IBDD A/C and SYBDD A/C. SYBDD A/C should be shown in point No. i) under Bills Payable of Schedule - 5 as it always runs in credit balance. As regards to IBDD A/C there can be either credit or debit balance. So, while showing these figures, the credit balance in IBDD A/C should be added to the Syndicate Bank DDs A/C and the net figure should be shown in Schedule - 5 in point No. i). If there is a debit balance in IBDD A/C, this amount should be deducted from SYBDD A/C and if the net figure shows credit balance, the same should be shown in Schedule -5 (Bills Payable) as usual. If the net figure so arrived shows the debit balance i.e. negative figure, the same should be shown in red ink under Bills Payable, in Schedule-5. Further it is observed that figures furnished in schedule 12 are not correct. Bank Guarantees issued only should be shown in this schedule against item No II. Branches are wrongly showing the figures of Bills for collections and NPA un-realised interest (Amount in Shadow Account) in this schedule. D. IMPORTANAT POINTS TO FOLLOW: 1. Branches and Regional Offices should note that the Balance Sheet Schedules and Annexures are to be drawn up to paise. 2. Figures against "INTER OFFICE ADJUSTMENTS" in Schedule-5, and schedule-11 shall be shown after netting the H.O A/c, Branch Adjustment A/c 3. Figures reported in Balance Sheet and Working Results should be the same. Clarification with reasons shall be given, if any discrepancy is there 4. Interest calculations for deposits and advances should be completed before last Friday of March. 5. Branches shall transfer the BCTT collected to RO on and the Regional Office shall transfer the consolidated amount to Head Office on it self. Contd 5

5 6. Branches are advised to plan and complete the disbursement of all loans -5- positively by 25 th of March, in order to attend the year end work and by keeping the Day Book & G.L up to date, so that the branches can be in a position to submit the working results and other year end returns as per the schedule given by Head Office 7. On Branches shall transfer the Net Profit/Net Loss to Head office a/c without writing Cr. IBA and shall show in ORW-7 statement. (If there is a Net Profit, HO A/c shall be credited and if there is a Net Loss, HO A/c shall be debited). E. AUDIT: Branches are advised to prepare all the statements required for audit, in triplicate, by One copy should be submitted to the Regional Office and second copy is meant for submission to the Auditors, when they visit the branch and the third copy shall be retained for Branch records. All the Statements meant for submission to the Auditors shall be filed in a separate file super scribing the file as Audit file 2007 and kept ready and handed over to the Auditors. The Audit work will commence, most likely, from Second week of April The statements meant for Audit need not be sent to Head Office/Regional Office. branches in due course. Names of the auditors will be informed to the Branches are advised to obtain Bank Balance Confirmatory as on from the concerned Bank, reconcile the same with the bank balance with our records and filed in Audit file 2007 file. A xerox copy of the same should be enclosed to Bank A/c Reconciliation statement submitted to the Regional Office. Branches are further advised to verify that all the figures shown in the Financial and Audit statements are tallied with ORW-3 (Trial Balance) dated CHECK LIST OF STATEMENTS TO BE KEPT READY FOR AUDIT S. No. Description of the Statement Code No. To be Drawn as on 1 Friday Statement (Trial Balance) ORW OBC/IBC/UCB Statement ORQ 6 -DO- 3 Bank A/c Reconciliation ORM 4 -DO- 4 Branch Adjustment ORM 3 -DO- 5 Suspense Accounts and Others ORQ 3 -DO- Contd 6

6 S. No. -6 Description of the Statement Code No. To be Drawn as on 6 Suspense-Deposits ORQ 5 -DO- 7 IOD Statement DRH Suspense - Credit ORQ 4 -DO- 9 General Charges (consolidated) ORM 2 -DO- 10 CDD Statement ARM 2 -DO- 11 Managers certificate on branch ORM 12 -DOfunctioning 12 Bank Balance Confirmatory-stamped -DO 13 NPA Statements RET I & -DO- IV 14 Balance Sheet, Profit & Loss A/c and Annexures ORQ 1 -DO- Printed proforma of above statements (except General Charges, NPA, Balance Sheet, Annexure-I) alongwith other printed statements, have already been sent to all the branches in the last week of January 07 through pooling branches / Regional Offices. Balance Sheet, Annexure-I and NPA statements are being dispatched to the branches in a couple of days. Further, Branches shall send Readiness Certificate, in the enclosed format, on preparation of audit statements, so as to reach to the Regional Office (Accounts) on or before The Regional Offices, in turn send the readiness certificate of their Region for commencement of Audit so as to reach Head Office, Accounts Department by Branches are advised to follow the procedures and time schedules mentioned in the Circular and submit error free financial statements. Regional Offices are advised to ensure compliance of the above with in the time schedule. The branches of erstwhile Pinakini Grameena Bank are advised to draw the Balance Sheets as per the procedure hither to existed in the PGB. It is erroneously shown the date of transfer of IBDD and SBDD to Head Office as last day of the financial year instead of last Friday of the calendar year, in Schedule of Returns communicated to the branches vide Circular No: BC-PDSD, Dated: The branches need not transfer the IBDD and SBDD amount to Head Office as at last working day of the financial year. Clarifications required, if any on this circular, can be sought from the Accounts Department, Head Office, Kadapa. (M.OBULESU) CHAIRMAN

7 ANNEXURE-II ANDHRA PRAATHI GRAMEENA BANK : HEAD OFFICE:KADAPA BRANCH: BIC NO: REGIONAL OFFICE: PARTICULARS OF MISCELLANEOUS INCOME ACCOUNT AS ON S. No. Particulars 01. Processing fee/service charges 02. Inspection charges 03. Cheque book charges 04. DD cancellation charges 05. Ledger folio charges 06. Postal /Tele phone/ Telegram exp. collected for OBCs & DDS 07 Income on BGS/Solvency certificates 08 Commission and Exchange on DDs 09 Other income(specify) Total Amount Rs. Ps. Date: CLERK OFFICER MANAGER

8 ANDHRA PRAGATHI GRAMEENA BANK:HEAD OFFICE:KADAPA BRANCH: BIC No REGIONAL OFFICE: AUDIT STATEMENTS READINESS CERTIFICATE We refer to our Head Office Circular No BC-ACCTD, dated and certify that all the Audit statements have been prepared error free and kept ready for verification /inspection by the Auditors. Date BRANCH MANAGER Circular No: BC ACCTD, Date: ANDHRA PRAGATHI GRAMEENA BANK:HEAD OFFICE:KADAPA BRANCH: BIC No AUDIT STATEMENTS READINESS CERTIFICATE We refer to our Head Office Circular No BC-ACCTD, dated and certify that all the Audit statements have been prepared error free and kept ready for verification /inspection by the Auditors. Date BRANCH MANAGER

9 ANNEXURE III ANDHRA PRAGATHI GRAMEENA BANK: HEAD OFFICE: KADAPA BRANCH BICNO: REGIONAL OFFICE: WORKING RESULTS (Amount in Rupees) S. No Particulars Achievement as on Total Deposits 2 Low Cost Deposits 3 Total Advances 4 Advances to Priority Sector 5 Advances to Agricultural Sector 6 Total Income 7 Total Expenditure 8 Operating Profit 9 Gross NPAs 10 No. of No Frills Accounts opened 11 SHGs Credit No. of A/cs linked Amount 12 Grand Total (1 to 10, for control purpose) Date: CLERK OFFICER MANAGER

10 ANNEXURE III ANDHRA PRAGATHI GRAMEENA BANK: HEAD OFFICE: KADAPA BRANCH BICNO: REGIONAL OFFICE: WORKING RESULTS (Amount in Rupees) S. No Particulars Achievement as on Total Deposits 2 Low Cost Deposits 3 Total Advances 4 Advances to Priority Sector 5 Advances to Agricultural Sector 6 Total Income 7 Total Expenditure 8 Operating Profit 9 Gross NPAs 10 No. of No Frills Accounts opened 11 SHGs Credit No. of A/cs linked Amount 12 Grand Total (1 to 10, for control purpose) Date: Prepared by Officer Manager