Fund Disbursement and Receipt

Process Overview Description

• ICAR receives funds from MoF/DARE and then releases funds to Institutes as per monthly expenditure plan (MEP) as approved by MoF.
• These transactions in system will be captured as Journal Entry in GL as explained in accounting entries section.
• Funds drawl from MoF/DARE:

ICAR Bank A/c xxx DR

ICAR. Grants in Aid – Capital xxx CR

ICAR. Grants in Aid – General xxx CR

ICAR. Grants in Aid – Salaries xxx CR

Provision in the system is required to capture Sector-wise / Object Head Wise

Funds disbursements to the Institutes:

Institute Bank A/c xxx DR

Institute Grant from ICAR HQ xxx CR

ICAR. Bank A/c xxx CR

ICAR. Grants to Institutes xxx DR

Navigation

ICAR Grant user Responsibility->Enter

Screenshot for fund drawl by ICAR from DARE

Screenshot for fund drawl by ICAR from DARE

Screenshot for fund receipt by ICAR from DARE

• Once you click on Enter the following screen opens.
• Click on New Journal

Screenshot for fund receipt by ICAR from DARE

Screenshot for fund drawl by ICAR from DARE

Screenshot for fund drawl by ICAR from DARE

Since DARE will remit money to ICAR, ICAR’s bank account will get debited and thus we will select the account codes as shown above.

Enter the amount

• Enter the amount received in Debit Side.
• Click on the DFF as shown in the above screenshot. Capture the context as Fund s Drawl since this is the case of funds drawl and enter the SMD for which the fund has been drawn.

Fund drawl

• Enter the credit account code in the same manner as we have mentioned the debit account code.
• Select the account as Grant in capital, Grant in Salary or Grant in General as the case may be.
• Click on OK
• Enter the DFF information again as mentioned in the Debit line.

Screenshot for fund receipt by ICAR from DARE

Screenshot for fund receipt by ICAR from DARE

• Click on Save button or press (Ctrl+S).
• Click on Post to post the entry.

Screenshot for fund drawl by ICAR from DARE

Once you click on post, a message stating that the transaction has completed will be displayed as shown below.

The message about the transaction

Screenshot for fund disbursement by ICAR to Institute

• For fund disbursement, ICAR will remit money to the Institutes.
• In this case the grant accounts will get credited and ICAR bank accounts will get credited.

Navigation

ICAR Grant User- >Enter-> New Journal(as shown in above process)

Screenshot

Screenshot

• Enter the Credit Account as ICAR Bank Account as the money is going out of ICAR bank account.
• Enter the amount being disbursed.
• Click on OK

Enter the amount being disbursed

• Save the transaction
• Click on Post
• The Request ID will get generated and the transaction will be saved

The Request ID will get generated

Receipt of Funds by Institutes

• For receipt of fund by the institute, institute’s bank account will get debited
• The grant accounts will get credited

Navigation

ICAR grant user responsibility->Enter->New journal

Screenshot

Receipt of Funds by Institutes
Receipt of Funds by Institutes (Screenshot)

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