Journal Voucher for Miscellaneous Transactions

The transactions other than budget expenditure and advance given and cleared are called miscellaneous transactions. These journal vouchers do not effect on budget expenditure. The following are the miscellaneous transactions:

• Revolving/ Imprest fund release
• Budget release
• Petty cash fund
• Security deposit
• Loan
• Budget transfer
• Distribution of salary and deductions made on it

Revolving/ Imprest fund release

Imprest/ Revolving fund release is the modern system of budget release newly introduced by the government. According to this system, at the beginning of each fiscal year, the office of the treasury and comptroller creates a fund to release the budget for all operating level offices. Each operating level offices receives an amount equal to the 1/6thof its last year's total budget expenditure at the beginning of each fiscal year as revolving or imprest fund release to spend on different heads of expenditure during the month of Shrawan.

The following journal voucher is passed for imprest fund release:

Dr. Nepal Rastra Bank
Revolving/ Imprest Fund Release
(Being initial revolving fund received)

Budget release

Under present revised budget release system, each operating level office receives budget release order equals to the actual expenditure of the previous month. Hence, the budget release is based on the imprest system. For getting the budget release order, the operating level office should produce the necessary documents to District Treasury Control Office within the first week of each month. The following are the three conditions of budget release:

• When the amount of budget release order and bank order is equal
  Dr. Nepal Rastra Bank
  Cr. Budget Release
  (Being budget release order and bank order received)
  
  
• When the amount of budget release order is less than the bank order
  Dr. Nepal Rastra Bank
  Cr. Revolving/ Imprest Fund
  Cr. Budget Release
  (Being budget release order and bank order received)
  
  
• When the amount of budget release order is more than the bank order
  Dr. Nepal Rastra Bank
  Dr. Revolving/ Imprest Fund
  Cr. Budget Release
  (Being budget release order and bank order received)

Petty Cash Fund

Petty cash fund is created in government offices for making the payment of a small amount of expenditures. Such small amount of expenditures like postage, tea, newspapers, bus fare, etc. should be paid frequently by an office. It is impracticable and inconvenient to pay such small amount of expenditures through a bank. So, to pay for such expenses, the government office establishes a fund, which is known as petty cash fund. The amount of petty cash fund depends upon the nature and volume of petty transactions.

The following journal voucher is prepared at the time of establishment of petty cash fund and at the time of its reimbursement:

• When petty cash fund is established:
  Dr. Petty Cash Fund
  Cr. Nepal Rastra Bank
  (Being petty cash fund established)
  
  
• When petty cash fund is reimbursed:
  Dr. BE (Head)
  Dr. BE (Head)
  Cr. Nepal Rastra Bank
  (Being petty cash fund reimbursed)