March residual transactions: banks must segregate and report March receipts separately to ensure accounting in the same financial year. Banks must treat collections realized on or before March 31 as transactions of the current financial year and report them as March Residual Transactions in April up to April 15. Nodal/Focal Point branches shall segregate and serially mark separate main scrolls for March Residual transactions and separate scrolls for April transactions, forward daily summaries and separate Daily Memos to the Link Cell for settlement with the Central Accounts Section, and ensure receiving branch accounts through March 31 are not commingled with April transactions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
March residual transactions: banks must segregate and report March receipts separately to ensure accounting in the same financial year.
Banks must treat collections realized on or before March 31 as transactions of the current financial year and report them as March Residual Transactions in April up to April 15. Nodal/Focal Point branches shall segregate and serially mark separate main scrolls for March Residual transactions and separate scrolls for April transactions, forward daily summaries and separate Daily Memos to the Link Cell for settlement with the Central Accounts Section, and ensure receiving branch accounts through March 31 are not commingled with April transactions.
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