Introduction :

Finance matters are always a prime concern for any organization as they cover all the tangible aspects. The key task of this department is to keep records of receipts and payments made by MAPMC and then to prepare different financial statements. The Chief Accountant Officer heads the accounts department. An accounts Officer assists him.

The market offices receive various incomes like market fee, license fee, supervision charges, rent charges etc. They collect the money and deposit it in the bank. The market offices forward only the debit and credit chart to the accounts department on weekly/monthly basis. This contains information about the various fees collected from each market and the amount deposited in bank. The accounts department feed the data in the computer using Tally software for its internal purpose. It also receives the bank statement from bank, for the fees deposited by respective markets on monthly basis. The department maintains a ledger for the total amount collected from each market. The department also maintains traders' ledger for the amount submitted for registration purpose. It prepares the yearly budget of MAPMC and forwards it to the Director of Marketing, GoM for approval. The department also prepares Receipt and Payment statement, Income and Expenditure statement and comparative statement year wise. The accounts department provides payment to various outside agencies and reimburses the petty cash expenditures of all the markets. This department forwards the octroi collected in various markets, to BMC and also maintains record of various fees collected like coconut market fee, tender deposits etc.

The accounts department calculates the deductions in salary for all the MAPMC employees and forwards it to EDP department. The establishment department forwards the details about employee attendance to this department. It maintains a master file for salary deductions of employees. It also issues cheques to all the permanent MAPMC employees.