Section 68 in The Punjab Town Improvement Trust Rules, 1939
68.
(1)When a transfer entry is to be made a minus entry shall be made in the classified abstract under the account from which the amount is to be transferred and a plus entry under that to which it is transferred in the place provided for the purpose.(2)When an item has to be adjusted, the money or receipt shall be brought to account in the general cash book in the usual way as a miscellanocus receipt and the item carried into the classified abstract of receipts. At the end of the month the adjustment shall be made by deducting the amount from both receipts and expenditure under the accounts affected in the classified abstract.Explanation - Neither transfer entries nor adjustments can be made in accounts of a year after those accounts have been finally closed.Note. - When any transfer entry or adjustment is made the items effected should be distinctly specified or marked and references given in footnotes as to the items of account from and to which the amount has been transferred, briefly stating the reasons for the transfer entry or adjustment.Cheques
