Security deposit is concerned with the amount deposited by a contractor or supplier against the tender of supplying goods and services. Generally, 5% of the contract amount is required to be deposited as security deposit by the contractor. Such deposit will be refunded after the completion of the concerned job. The journal vouchers relating to security deposit are as follows:
The government office can receive a loan from other offices. It can also provide a loan to other offices by taking the approval from the treasury and comptroller's office. The journal vouchers for receiving and granting loans are as follows:
The budget transfer is the act of transferring an amount from one budget head to another. Sometimes, there may be a shortage of budget in one budget head and a surplus in another budget head. The surplus amount of the budget can be transferred with the permission of the Ministry of Finance in another budget head. The budget transfer is of two types:
What is budget transfer?
The budget transfer is the act of transferring an amount from one budget head to another.
What is intra-head budget transfer?
If the budget head is transferred to another budget head within the office, then it is called intra-office budget transfer.
What is inter-head budget transfer?
If the budget head is transferred from one office to another office, then it is called inter-office budget transfer.
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