Month-end checklist for a gas agency
By the DeskGas team · Updated
Closing the month properly takes an hour if the days were closed properly. Here is what to check before sending anything to your CA.
In short
- Every day of the month closed, and a physical stock count on the last day.
- Bank reconciled to the statement, with bank charges and interest recorded.
- Keep refill cash memos for at least 12 months and inspection records for three financial years.
Stock
- All days closed; no day left in draft
- Physical count of filled, empty and defective cylinders on the last day, set against the register
- Open shortage and defective claims with the oil company listed
- NFR stock counted, and dead stock noted
Money
- Cash book closing equals cash counted
- Bank statement reconciled: deposits, oil-company payments, UPI settlements, charges and interest
- Credit customers' balances confirmed
- Delivery-man shortages and advances listed
GST and records
Cylinder invoices come from the oil company's system; your own GST bills are for NFR items, so the HSN summary of NFR sales and purchases goes to your CA with the month's sales.
The Marketing Discipline Guidelines list the records a distributor must keep, including acknowledged refill cash memos for at least 12 months and inspection records for the preceding three financial years.
Lock the month
Once your CA has the figures, lock the month so nothing changes behind them. Any later correction should need the owner's approval and leave a record.
How DeskGas helps
DeskGas closes the month for you: the stock and cash registers are already balanced daily, bank reconciliation produces a BRS, the Accounts Pack prepares the GST working sheet and an Excel pack for your CA, and closed months stay locked.