Mataracy
VIP Contributor
In the school whenever one has graduated and thinking of doing one professional curses then they use to requested for transcript. That time I use to think of it that; how important is transcript.
To my own knowledge transcript is very important.
Transcript in Ministry can be describe or defined as the summary of the total receipt and payments as posted in the cash book.
PREPARATION OF MONTHLY TRANSCRIPT.
The preparation of monthly transcripts is an important aspect of the function of a self Accounting ministry.
This is the only means through by which information on the cash transactions of a ministry are forwarded to the treasury.
TYPES OF TRANSCRIPT
We have: (a) Main Transcript(b) supplimentry Transcripts(c) Subsidiary Transcript.
(1) Main Transcript is the transcript prepared by self-Accounting units and submitted to the Accountant-General of the Federation on monthly basis.
(2) Supplementary Transcript is the main adjustment to the main transcript prepared in conformity with the principle of Double Entry.
(3)Subsidiary Transcript is prepared to complement the main transcript.It is use to corrects errors or omission in the main Transcript. It contains both above and bellow the line account terms.
DOCUMENT REQUIRED TO ACCOMMODATE ANY TRANSCRIPT.
The transcript prepared by a self Accounting unit should be forwarded to treasury with the following documents.
(a) Certificate of cash and bank balances(b) schedule of vouchers pre- listed (c) Bank reconciliation statement(d) Schedule of expenditure(e) schedule of outstanding voucher.
These are how Transcript is being prepared in the Ministry.
To my own knowledge transcript is very important.
Transcript in Ministry can be describe or defined as the summary of the total receipt and payments as posted in the cash book.
PREPARATION OF MONTHLY TRANSCRIPT.
The preparation of monthly transcripts is an important aspect of the function of a self Accounting ministry.
This is the only means through by which information on the cash transactions of a ministry are forwarded to the treasury.
TYPES OF TRANSCRIPT
We have: (a) Main Transcript(b) supplimentry Transcripts(c) Subsidiary Transcript.
(1) Main Transcript is the transcript prepared by self-Accounting units and submitted to the Accountant-General of the Federation on monthly basis.
(2) Supplementary Transcript is the main adjustment to the main transcript prepared in conformity with the principle of Double Entry.
(3)Subsidiary Transcript is prepared to complement the main transcript.It is use to corrects errors or omission in the main Transcript. It contains both above and bellow the line account terms.
DOCUMENT REQUIRED TO ACCOMMODATE ANY TRANSCRIPT.
The transcript prepared by a self Accounting unit should be forwarded to treasury with the following documents.
(a) Certificate of cash and bank balances(b) schedule of vouchers pre- listed (c) Bank reconciliation statement(d) Schedule of expenditure(e) schedule of outstanding voucher.
These are how Transcript is being prepared in the Ministry.
