Subject: Other
The journal voucher which is prepared to record the transactions relating to budget expenditure is called journal voucher for the budget expenditure. It is also known as a general journal voucher. This is commonly used journal voucher in government offices. When the payment is made on any head of budget expenditure, these types of journal voucher are prepared. It records the payment for budget expenditures like salaries, allowance, office expenses, telephone charges etc. While preparing journal voucher, the budget head or subhead should be debited. All the payments are assumed to be made through Nepal Rastra Bank and hence Nepal Rastra Bank should be credited. The related budget head number should be mentioned in the concerned column and a brief narration should be given for the explanation of each transaction. The journal voucher for budget expenditure is passed as follows:
Dr. BE (Name of the budget head)
Cr. Nepal Rastra Bank
(Being payment made for ......by cheque)
The budget for the government is approved by the parliament on an annual basis. The process of closing different accounts at the end of the fiscal year is called annual closing of accounts. The following journal vouchers are passed for annual closing:
Closing advance account
If the advance given under different heads is not cleared until the end of the fiscal year, such advances should be cleared artificially treating as expenses equal to the advance. The following journal voucher is passed for an artificial clearance of advance:
Dr. B.E. The name of the budget head
Cr. The name and post of the person
Clearance of advance
(Being advance cleared artificially)
Depositing the amount of deductions
If the amount of deductions is not deposited in the concerned offices till the end of the fiscal year, the amount of such deductions should be deposited in the concerned offices. The following journal entry is passed for depositing the deductions:
Dr. ....... (deductions)
Cr. Nepal Rastra Bank
(Being deducted amounts deposited into concerned offices.)
Closing Petty Cash Fund
The petty cash fund should be closed at the end of the fiscal year by passing the following journal voucher:
Dr. Nepal Rastra Bank (With unspent amount of fund)
Dr. Budget head
Cr. Petty cash fund
(Being petty cash fund closed)
Closing of Revolving/ Imprest Fund Account and Bank Account
The bank account is closed by issuing a cheque for the unspent amount of revolving fund. Such unspent amount is deposited in the consolidated fund. Such deposit of unspent imprest amount will close the bank account and revolving fund account it is so because the unspent budget of the current fiscal year under regular as well as development budget lapses at the end of the fiscal year. The following journal voucher is passed for the closing of revolving fund:
Dr. Revolving fund
Cr. Budget release
Cr. Nepal Rastra Bank
(Being revolving fund and bank account closed)
Closing of Budget Release and Budget Expenditure (Annual closing)
A closing entry is required to close the total budget expenditures and total budget release accounts. For this, the total amount of budget expenditures should be matched with the total amount of budget release. The following journal voucher is passed to close the total budget expenditures and total budget release accounts:
Dr. Total budget release account
Cr. Total budget expenditures account
(Being closing of annual accounts)
On 2070/ 01/20 Rs.55,000 paid for computer purchased through cheque no. 00137.
Government of Nepal District Education Office, Palpa Journal Voucher | AGF No. 10 JV No. Date: 01/20 |
Code No. | Particulars | LF | BH No. | Debit Rs. | Credit Rs. |
Dr. B.E Computer | 29511 | 55,000 | |||
Cr. Nepal Rastra Bank | 55,000 | ||||
(Being paid for computer purchased through cheque no. 00137.) |
Receipt No: Amount received: Submitted by: Mr. ABC Post: Accountant Date: 01/20 | Cheque No: 00137 Cheque amount: Fifty-five thousand only. Approved by: Mr. XYZ Post: Office head Date: 01/20 |
On 2071/05/25 Rs.50,000 was paid for furniture purchased through cheque no. 00115.
Government of Nepal District Education Office, Kathmandu Journal Voucher | AGF No. 10 JV No. Date:05/25 |
Code No. | Particulars | LF | BH No. | Debit Rs. | Credit Rs. |
Dr. BE Furniture | 29311 | 50,000 | |||
Cr. Nepal Rastra Bank | 50,000 | ||||
(Being paid for furniture purchase through cheque no. 00115) |
Receipt No: Amount received: Submitted by: Mr. ABC Post: Accountant Date: 05/25 | Cheque No: 00115 Cheque amount: Fifty thousand only. Approved by: Mr. XYZ Post: Office head Date: 05/25 |
On 2069/05/12 purchased computer of Rs. 75,000/- and paid through cheque no. 008880.
Government of Nepal District Administration Office, Kathmandu Journal Voucher | AGF No. 10 JV No. Date: 05/12 |
Code No. | Particulars | LF | BH No. | Debit Rs. | Credit Rs. |
Dr. BE Computer | 29511 | 75,000 | |||
Cr. Nepal Rastra Bank | 75,000 | ||||
(Being computer purchased and paid through cheque.) |
Receipt No: Amount received: Submitted by: Mr. ABC Post: Accountant Date: 05/12 | Cheque No: 008880 Cheque amount: Seventyfive thousand only. Approved by: Mr. XYZ Post: Office head Date: 05/12 |
On 2071/05/22 the telephone charge Rs. 5,000 for the month of Asar was paid through cheque no. 01234.
Government of Nepal District Education Office, Dolpa Journal Voucher | AGF No. 10 JV No. Date: 05/22 |
Code No. | Particulars | LF | BH No. | Debit Rs. | Credit Rs. |
Dr. BE Telephone charge | 22142 | 5,000 | |||
Cr. Nepal Rastra Bank | 5,000 | ||||
(Being telephone charge paid through cheque.) | |||||
Receipt No: Amount received: Submitted by: Mr. ABC Post: Accountant Date: 05/22 | Cheque No: 01234 Cheque amount: Five thousand only. Approved by: Mr. XYZ Post: Office head Date: 05/22 |
On 2069/06/06 Rs. 20,000 was paid for telephone bill through cheque no. 900.
Government of Nepal District Education Office, Rukum Journal Voucher | AGF No. 10 JV No. Date: 06/06 |
Code No. | Particulars | LF | BH No. | Debit Rs. | Credit Rs. |
Dr. BE Telephone charge | 22142 | 20,000 | |||
Cr. Nepal Rastra Bank | 20,000 | ||||
(Being paid for telephone bill through cheque no. 900.) | |||||
Receipt No: Amount received: Submitted by: Mr. ABC Post: Accountant Date: 06/06 | Cheque No:900 Cheque amount: Twentythousand only. Approved by: Mr. XYZ Post: Office head Date: 06/06 |
What is annual closing of accounts?
The process of closing different accounts at the end of the fiscal year is called annual closing of accounts.
What is journal voucher for the budget expenditure?
The journal voucher which is prepared to record the transactions relating to budget expenditure is called journal voucher for the budget expenditure. It is also known as a general journal voucher.
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