Commercial Guide - Goods balance sheet

Goods Balance Sheet –

Station Balance Sheet is a monthly return prepared in prescribed proforma for submission to traffic accounts office. This is divided into two parts - left side is known as ‘Debit side’ and right side is known as ‘Credit side’. Balance sheet can also be termed as personal account of the Station Master.

Debit side indicates the responsibility of Station Master under the heads Opening balance, Current debits and Special debits. Responsibilities are entered separately for each type of transaction. The Credit side indicates the discharge of liability of the station under the head Cash, cash vouchers and special credits. Special credit means credit taken on the basis of Credit Advice note, Remission Order etc. In addition the closing balance is also indicated on the credit side, which indicates the uncleared liability of the station at the end of the month. The closing balance is also termed as Station Outstanding.

The debit and the Credit side are totaled up, which should be equal. Balance Sheet prepared for Goods Traffic is known as Goods balance Sheet. This is to be submitted to traffic Accounts Office on or before 5th of the following month.