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Section 30: Accounting of collections

The Karnataka Municipalities Accounting and Budgeting Rules, 2006.State Rules of Karnataka · 1964

(1) The amount collected during the day shall be accounted based on the summary statements, through a receipt voucher as follows:

(a) In respect of cash receipts, by debit in cash book and credit to respective heads of account;

(b) In respect of cheque receipts, by debit to cheques in hand and credit to respective heads of account;

(c) In respect of direct bank or treasury receipts, by debit to the bank or treasury account and credit to respective heads of account.

(2) If any amount collected by the Municipality is in respect of future years, it shall be treated as a liability and recorded through an ‘advance collection account’. Such amount shall be transferred to income or adjusted with “receivables” in the year when the amount becomes due for payment to the Municipality.

Where this provision sits

ActThe Karnataka Municipalities Accounting and Budgeting Rules, 2006.
Section30
Marginal noteAccounting of collections
JurisdictionState of Karnataka
StatusIn force as published by the source

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