PERSONAL LEDGER ACCOUNT

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Presentation transcript:

PERSONAL LEDGER ACCOUNT Session - I

Objective of the course: to impart overall knowledge of the operation of Personal Deposit Account or Personal Ledger Account (PLA) to the participants by detailing the accounting methods, role of treasury and the role of Accountant General. Personal Ledger Account is operated within the consolidated fund of the state and public account. opening of Personal Ledger Account (PLA) requires state government approval in consultation with AG.

Personal Ledger Account (PLA) operates under special circumstances:- normal procedure of drawal from the treasury by presentation of bills proves unworkable. The objective of opening PLA was aimed at giving more flexibility to drawing & disbursing officers for expediting government works in a time bound manner.

Paras 7.6 & 7.7 of Manual of Standing Orders, Accounts and Entitlement specifies that : PLA operation could not be agreed by the government unless it was satisfied that the initial accounts of moneys in the PLA are properly maintained and subjected to audit. It is operated by transferring funds from consolidated fund for discharging liabilities of the government Should be closed at the end of the financial year by minus debit to balance to the relevant service account in the consolidated fund PLA opened again next year.

Types of PLAs:- Different types of PLA - such as: for administering moneys tendered by or on behalf of warrants and attached estates. Civil & criminal court deposits. Receipts towards regulating activities – expenditure/ Receipt of these forum. Discharge of liabilities from government Administrator of public fund or regimental fund. PLA of non-government bodies, public undertaking local bodies.

When PLA is opened treasury officer/PAO gives a Personal Ledger Account code number & cheque book. The Administrator of PLA issues cheques for urgent payment of the bills of the project. Keeps an account of cheque books/register to audit. Offer the cheque books/register to audit. Specimen signature of the administrator to be sent to Treasury Officer/PAO should not exceed the receipts.