Page 150 - DLIS003_LIBRARY ADMINISTRATION AND MANAGEMENT

Unit 8: Library Accounting

Name of library: Year: Notes
Allocation: `

Salary Bill Register: The salary bill register of the library staff is a detailed document of the
salaries during a particularly year. It contains information relating to salary and deductions of
library staff. In this register all the entries are made by the accounts section except the leave
records of the library staff, which is filled in by the librarian.
Record of Petty Cash: In general, petty cash accounts are handled in two ways: (1) Turning fine
and replacement money into petty cash directly, (2) Fine and replacement money are collected
directly by the accounts office and this amount is made available to the library in the form of
petty cash.
Equipment Record or History Card: Another useful record for the library is a card file of major
equipment. This should be made in duplicate, one copy to be kept in the main administrative
office and the other in the library’s files. It should indicate the name of the item, the date of
purchase, the cost, and such information as serial numbers (e.g. typewriters). This record facilitates
equipment purchase and replacement, makes possible a more, considered judgement in placing
replacement orders or in deciding repair versus replacement, and also provides an accurate
inventory for insurance and other purposes.

Task Give the headings of an invoice register.

Self Assessment

Fill in the blanks:
6. The ……………… is a record in which details of daily cash transactions regarding income
and expenditure of an institution are entered.
7. In the …………………. accounts are maintained head-wise and subject-wise.
8. The ……………………….. contains information relating to salary and deductions of library
staff.

8.4 Financial Audit of Library

Lastly, the financial audit part of the process enables a meticulous but sample scrutiny of financial
transactions to have proper control over irregular, inappropriate and wasteful expenditures.
Auditing is a scrutiny of the financial transactions of government and semi government bodies.
It provides control over irregular, inappropriate and wasteful spending. It is deemed necessary
from the authority’s point of view for their satisfaction.
Libraries and information centres normally have post-audit by external/central/statutory
auditors, who usually look into the loss of reading materials, irregularities in procurement
processes and outstanding advance payments and supplies. Even though two types of audit

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