Accounts Department

Accounts Department is play most vital role in Banking. Accounts Department is a department with which each and every department is related. It records the profit & loss A/C and statement of assets and liabilities by applying “Golden Rules” of book-keeping. The functions of it are theoretical & computerized based. MTBL Dilkusha Branch records its accounts daily, weekly, and monthly every record. MTBL Dilkusha Branch Accounts Department in Charge: Mr. Kazi Imamul Haque, Sr. Executive Officer (having 12 years of experience in banking sector). Another officer’s are: Mr. Tarek, (Officer), Mr. Hamid (Teller-Officer), Mr. Sohel(Teller-Officer).

This entire executive’s helps me a lot in my internship program at MTBL. They didn’t guide me as an Internee; they guide me as a training officer of MTBL to gather practical knowledge about Banking. They tried there best to inform me every thing about accounts department. I hope I knew every thing that gave me as a new comer in banking sector.

Basically Accounts Department is not alone. Accounts department is a mix of as follows:

1. Cash
2. Transfer
3. Clearing

CASH
 
Mr. Kazi Imamul Haque, Sr. Executive Officer and Mr. Md. Tarek (Officer) is the cash in charge. Both of the two senior executives help’s me lot to get practical knowledge and prepare this report.

The cash section of any branch plays very significant role in Accounts Department. Because, it deals with most liquid assets the MTBL Dilkusha Branch has an equipped cash section. This section receives cash from depositors and pay cash against cheque, draft, PO, and pay in slip over the counter. Every Bank must have a cash counter where customer withdrawn and deposit there money. When the valued client’s deposit their money at the cash counter they must have to full fill the deposit slip his/her own, then they sing as the depositor option’s then they deposit their money through cash officer at the cash counter.

SEVERAL TYPES OF DEPOSIT SLIP

There are several types of deposit slip as follows:
 Current Deposit A/C Slip,
 Saving’s Deposit A/C Slip,
 Festival Deposit A/C Slip,
 Brick By Brick Deposit A/C Slip,
 Pay order Slip,
 Demand Draft Slip,
 T.T. Slip.

After paying this kind’s of slip, the valued client waits for the deposit slip book out side of the cash counter. The cash officer deposit the money in there account through computer software, while the depositors account credited, then the cash officer put a seal in the deposit slip and return it to the client.
 
RECEIVING CASH:
Any people who want to deposit money will fill up the deposit slip and give the form along with the money to the cash officer over the counter. The cash officer counts the cash and compares with the figure written in the deposit slip. Then he put his signature on the slip along with the ‘cash received’ seal and records in the cash receive register book against A/C number.

At the end of the procedure, the cash officer passes the deposit slip to the counter section for posting purpose and delivers duplicate slip to the clients.

Account treatment:
Cash A/C--------------------- Dr.
Customer’s A/C------------- Cr.

DISBURSING CASH:
 
The drawn who wants to receive money against cheque comes to the payment counter and presents his cheque to the officer. He verifies the following information:

▫ Date of the cheque
▫ Signature of the A/C holder
▫ Material alteration
▫ Whether the cheque is crossed or not
▫ Whether the cheque is endorsed or not
▫ Whether the amount in figure and in word correspondent or not

Then he checks the cheque from computer for further verification. Here the following information is checked:

▫ Whether there is sufficient balance or not
▫ Whether there is stop payment instruction or not
▫ Whether there is any legal obstruction (Garnishee Order) or not

After checking everything, if all are in order the cash officer gives amount to the holder and records in the paid register.

Account treatment:

Customer’s A/C Dr.
Cash A/C Cr.

The cash section of MTBL deals with all types of negotiable instruments, cash and other instruments and treated as a sensitive section of the bank. It includes the vault which is used as the store of cash instruments. The vault is insured up to Tk. 60 lacs. If the cash stock goes beyond this limit, the excess cash is then transferred to Principle Branch Office. When the excess cash is transferred to MTBL Principle Branch Office the cash officer issues IBDA.

Account treatment:
MTBL General A/C Dr.
Cash A/C Cr.

When cash is brought from MTBL Principle Branch Office.

Accounting treatment:
Cash A/C Dr.
MTBL General A/C Cr.