JOB DESCRIPTION OF A CONSULTANT

PERSONNEL RELATED

Attendance / Leave Record

Salary Calculation & Payments

Personal Folder maintenance

Increment record

ADMINISTRATION RELATED

Timely payment of Phone Bills / Electricity Bills

-      Payment of “Tea” bills

-      Payment of “Stationery” bills

-      Inventory control / Reordering of all stationery items so we do not run short.

-      Statutory compliances (Shop & Establishment Act)

-      Housekeeping

-      Minor cash Purchases (Imprest A/c)

-      Announcement of Paid /Unpaid  Holidays in advance

-      Insurance (Cars/Computers/entire office)

-      Security

BUSINESS RELATED

FILING

-      Correspondence Files

-      Bio- data Files

-      Pro-data Boxes

JOB DESCRIPTION OF A CONSULTANT

Follow-up clients (once computer print-outs have been sent) to give “dates”     for conducting interviews & names of candidates to be called

Prepare interview-schedules & release to client & to “Interview Panel Expert”

Get ready Interview-Call letters & ensure timely dispatch to candidates.

Phone-up candidates & obtain their confirmation/alternate dates requested.

Communicate “Status” to client every 2^nd /3^rd day (or even daily) as to who /how many are attending.

Wherever necessary ensure dispatch of “Registration Forms” along with Call- Letters.

As soon as interview-call are dispatched, send out to client plastic folder containing.

Xerox copies of biodatas along with Interview Evaluation sheets.

Follow up with client (if required by periodic visits) re; Feed Back on

How many / who attended

Who was passed (selected) /rejected /kept on hold

Who is to be called for Final Interview (if any) & when. To follow up and organize such final interviews.

Ensure that client issues appointment letters to candidates “Passed” in the final interview. Follow up and get copies of appointment letters-alternately sit across client and fill up “Compensation Format” for calculating our professional fees.

Wherever client is unable to select/appoint anyone in the final   interview, sit with him and decide next course of action. e.g

Call some more candidates

-      Re-advertise

-      Search our database etc.

You job is not over till,

Relevant invoices are issued

Payment cheques are collected

Feedback to candidates re “outcome” of the interviews

Today this is a “weak” area. We give feedback only if (and when) concerned candidate phones us. This is not correct.

We owe to each candidate feedback on whether he got rejected / short listed for final interview/short listed for salary-negotiations. For this feedback, we should call him up on our own. If he does not have a phone, we should send him a Standard (but nice & polite) letter (never a post-card !)

CLIENT –RESPONSE

There are many cases where we have already received “Advance” (i.e. Minimum

Search fees) but have not acted-upon the client’s Purchase Order, by

Searching our Database

Short listing suitable candidates

Sending first the “Short list” and then individual detailed bio-datas to the client for his scrutiny.

We take action only when client start phoning! This is creating poor image.

So first thing to do is to prepare a

COMPREHENSIVE ORDER BACKLOG LIST

(in chronological order of the dates)

                                                          SPLIT THIS INTO

Where Advance            where we are not                casual /stray

is received - A             insisting on advance – B      Requests

                                                                     Monthly orderC

          

Obviously this is top priority           either because,       which could

& action must be started at            we want to start a          be converted  Once, otherwise these                   relationship with an  to advance, if

“Orders” Will get cancelled!            important client i.e.  we had time                                                     Hinduja/Finolex/Kirloskar    to attend to OR                  these although

We are not sure of   intuitively we          Being able to find suitable know that             

                                         Candidate (create poor           we

                                         Impression)                          have in our

Databank, very suitable

Candidates)

Lost Potential

Lost Business !

Our priority for action is obviously First A, then B & lastly C.

You should sit-down with Nirmit, devise a proper format and, with his help (his memory) start filling up each of these lists, starting with List A. This format could have following columns;

Client Name / Contact Person / Phone No.

Position / Vacancy

“Advance” details (Cheque No. / Date/ amount)

Action taken details

Computer Print out sent – date / (No. of records)

Detailed Bio Data sent-date / (No. of bio datas)

Interview Arranged – date / (No. of candidates)

Remarks

In the software being developed by Mr. Nagle, there are “Modules” for

Order Processing                                 There is a Folder

Interview Fixing                                  for each of these

Advance / Invoicing /Accounting

The formats to be used are shown in these individual folders. All these will ultimately get computerized. However, it will help us and Mr. Nagle tremendously if we are to immediately introduce a MANUAL SYSTEM (of “record-keeping” in Lists/Statements/Tabulations/Registers / Formats etc.) and use it for a few months to find-out its SHORTCOMING / LACUNAE, so that when we computerize, we can take care of problems faced during MANUAL OPERATION.

Rewriting computer software again and again is expensive/time-consuming and throws “Production” out-of-gear. This could be avoided by trying / testing a MANUAL SYSTEM. Although it could mean duplicate / multiple entry of same data in several different FORMS/STATEMENTS/REGISTERS. But this will be a very good LEARNING PROCESS, and will help us do a better job of computerizing with very little subsequent changes. 

JOB DESCRIPTION OF ADMINISTRATOR

Job Description of an Administrator: (1)

Mr. Khanna

April 1995

(1) Personnel & Administration Related

• Attendance / Leave Record
• Salary calculation & Payments
• Personal folder maintenance
• Increments record

(2) Administration Related

• Timely payment of Phone bills / Electricity bills
• Payment of "Tea" bills
• Payment of "Stationary" bills
• Inventory-control / Re-ordering of all stationary items so we do not run short.
• Statutory Compliances
• Shop & Establishment Act
• Housekeeping
• Minor Cash Purchases (Imprest A/c.)
• Announcement of Paid / Unpaid Holidays in advance
• Insurance (Cars / Computers / entire office)
• Timely payment of Road Taxes (for cars.)
• Security

(3) Business - Related.

• Filing
• Correspondence Files
• Bio data Files
• Bio data Proxies

Job Description of A Consultant:

• Interviews
• Follow-up clients (once computer print-outs have been sent.) to give "dates" for conducting interviews & names of candidates to be called
• Prepare interview-schedules & release to client & to "Interview-Panel Expert.
• Get ready Interview-Call letters & ensure timely despatch to candidates.
• Phone-up candidates & obtain their confirmation / alternate dates requested.
• Communicate "Status" to client every $2^{\text{nd}}/3^{\text{rd}}$ day (or even daily) as to who / how many are attending
• Wherever necessary, ensure despatch of "Registration-Forms" along with CALL-LETTERS
• As soon as interview-call letters are despatched, send-out to client plastic folder containing
• Xerox copies of biodatas along with Interview Evaluation sheets -

• Follow-up with client (if required by periodic visits) re: FEED-BACK on
• how many / who attended
• who was passed (selected) / rejected / kept on HOLD
• Who is to be called for FINAL INTERVIEW (if any) & when. To follow-up and organise such final interviews.
• Ensure that Client issues Appointment Letters to candidates "passed" in the final interview. Follow-up and get copies of appointment letters - alternately fill up "Compensation-format" for calculating our Professional-fees.
• Wherever client is unable to select / appoint anyone in the final interview, sit with him and decide next course of action
• e.g.
• Call some more candidates
• Re-advertise
• Search our Database etc.

Your job is not over till,

• Relevant INVOICES are issued
• Payment cheques are collected.

(4)

• Feedback to Candidates re: "outcome of the interviews

Today, this is a "weak" area. We give feedback only if (and when) concerned candidate phones us. This is not correct.

We owe it to each Candidate feedback on whether he got rejected / short-listed for final interview / short-listed for salary-negotiations.

For this feedback, we should call him up on our own. If he does not have a phone, we should send him a STANDARD (but nice & polite) letter (never a postcard!).

CLIENT-RESPONSE (5)

• There are many cases where we have already received "Advance" (i.e. Minimum Search fees) but have not acted upon the Client's PURCHASE-ORDER, by
• Searching our Database
• Short-listing suitable candidates
• Sending first the "short-list" and then individual, detailed bio-datas to the client for his scrutiny.

We take action only when client starts phoning! This is creating poor image.

So first thing to do is to prepare a

COMPREHENSIVE ORDER-BACKLOG LIST

(in chronological order of the dates).

Split this into

| A. Where Advance is received | B. Where we are not insisting on Advance | C. CASUAL/STRAY REQUESTS Mostly oral |

| :--- | :--- | :--- |

| obviously this is TOP PRIORITY | either because | Which could be converted to ADVANCE if we had time to attend to these (although Intuitively we know that we have in our database, very suitable candidates) |

| & action must be started at once, otherwise these orders will get cancelled! | * We want to start a relationship with an important client (e.g. Hindujas / Jindals / Somani's etc) | |

| | * OR | LOST POTENTIAL LOST BUSINESS! |

| | * We are not sure of being able to find suitable candidates (& it create poor impression) | |

Our priority for action is obviously, First A, then B & lastly C.

You should sit-down with Nimrit, devise a proper format and, with his help (his memory) start filling-up each of these lists, starting with List A. The format could have following columns:

• Client Name / Contact Person / Phone No.
• Position / Vacancy
• "Advance" Details (Cheque No / date / Amount)

ACTION-TAKEN DETAILS

• Computer Print out sent - date / (NO. of records)
• Detailed Bio data sent - date / (No. of biodatas)
• Interview Arranged - date / No. of candidates.
• Remarks.

In the Software being developed by Mr. Nagle, there are "modules" for

• Order Processing
• Interview Fixing / Follow Up.
• Advance / Invoicing / Accounting.

} There is a format for each of these.

The formats to be used are shown in these individual folders. Of course, All these will ultimately get COMPUTERISED. However, it will help us - and Mr. Nagle - tremendously if we are to immediately introduce a MANUAL SYSTEM (of "record-keeping" in Lists / Statements / Tabulations / Registers / formats etc) and use it for a few months to find-out its SHORTCOMINGS / LACUNAE, so that, when we computerise, we can take care of problems faced during MANUAL OPERATION.

(7)

Rewriting computer software again and again is expensive / time-consuming and throws "production" out-of-gear. This could be avoided by trying / testing a MANUAL SYSTEM, although it could mean duplicate / multiple entry of same data in several different FORMS / STATEMENTS / REGISTERS. But this will be a very good LEARNING-PROCESS, and will help us do a better job of computerising with very little subsequent changes.

MIS MODULE: 3/9/93

Mgmt. Info. System.

Every business must set targets (budgets) and must measure actual performance against those targets. The difference between the two (Variance) is used as a feedback to the individuals within the System to take corrective action.

Even if it is difficult for the next $1/2$ years to set targets, we should, at least, decide upon

• For which parameters we would one-day like to set the targets.

So that

even now, pending target setting, we already start compiling the "ACTUAL / ACHIEVEMENT / PERFORMANCE" figures for those parameters and start plotting these graphically.

In a nut-shell,

If we compile and graphically plot last $2/3$ years STATISTICS we would know the TREND for each item. We would also know inter-relationship, if any, between one

parameter and the other.

(e.g.

A. No. of persons appointed is a function of (or directly proportional to)

a. Size of databank

b. No. of one-line statement sent

c. No. of bio-datas sent

d. No. of prelim. interviews held.

e. No. of final interviews held

f. No. of call-letters sent

g. No. of applic. / bio-datas recd.

h. No. of clients

i. No. of pending Purchase Orders (order backlog)

j. No. of Advt. released.

k. No. of client inquiries.

etc etc.

Another example

B. Size of Databank (Active) is a function of & directly proportional to

1. No. of mailers sent out
2. No. of "Birth-Day" greetings sent
3. No. of Unabridged Annual Reports collected

(3)

4. No. of Advt. released.
5. No. of Alumni Asso. linked-up.
6. No. of Companies enrolled in 3P CLUB.
7. No. of Databases tapped

e.g.

• Diners Club Member.
• Membership Directories of Professional bodies

8. No. of "associates" established in various towns

ORDER EXECUTION-MODULE ADMN. 3/9/93

ORDER EXECUTION SUMMARY

Sr. No.	Purchase Order No.	PO date	Client Name	Vacancy / Position	NO. of Vac.	Adv. Amt	Mode A/D	Estimated Invoice Value	Status	Compl.	Pending
						Adv.	Databank

This statement can be broken-up into two separate statements as follows:

(1) Completed Order statement

(2) Pending order statement

Last column "status" would disappear. In its place will come a column for "Invoice Amt / dt / Cheque no / amt / dt" and "Cumulative Invoice value / Cumulative Payment Value"

Last column will be replaced by "Cumulative Invoice Value" which is the same as "Cumulative Order Backlog Value".

28/03/98 (1)

DUTIES / RESPONSIBILITIES OF ACCOUNTANT

1. Statutory
2. Financial Accounts / Invoicing.
3. Management Accounts (MIS)
4. Cost-control.
5. Budgets.
6. ACRA (Annual Calendar of Repetitive Activities)
7. Insurance / Renewal
8. Purchases & Payments.
9. Salary Payments / Attendance
10. $\checkmark$ Family Accounts / Financial Matters
11. $\cdot$

(2)

STATUTORY

• Timely payment of Income-tax: company as well as family members.
• Filing of Income Tax Returns.

(3)

FINANCIAL ACCOUNTS

$\checkmark$ Prepare vouchers for all purchases and make payments after comparing / checking

• Purchase. Order (Qty / Price / Value)
• Serial no. of eqpt. delivered /
• Commercial Terms / taxes etc /
• Delivery challan.
• Vendor Invoice.

$\checkmark$ Raise Invoices for all executives appointed. Follow-up till money received. Raise Debit / Credit notes. Out-of-Pocket expense invoices.

$\checkmark$ Preparation of monthly P & L a/c

$\checkmark$ All banking matters (deposit / issue of cheques, passbooks, fixed deposits, tallying bank statements with our internal records etc).

$\checkmark$ OUT-OF-POCKET EXPENSES (OOP)

We are supposed to receive OOP from our clients by appropriate MONTHLY INVOICES.

(4)

This arrangement is part of our T.E.C.

Main OOP are:

A. Courier charges (Call letters / Introductions)

B. STD / ISD phone charges (Very frequent)

C. Outstation travels. (Occasionally)

Outstation travels are only undertaken by Nimrit - so it is easy to ask him, where he went, on whose (which client) behalf & how much did he spend. He can fill-in a simple form attaching supporting vouchers.

I believe, "Courier charges" are being compiled reasonably well: Pl. check.

Can this record be Computerised? Discuss with Sajida.

Biggest chunk is STD charges for which TELESOFT software has been instructed for over 6 months now. There were some "hitches" - Are these sorted out? Is software still "clumsy"? What happens if operatr forgets to enter a few STD calls daily?

Do we have a fool-proof method?

If not streamlined, this is one area where we could lose lakhs of rupees annually!

When we get MTNL's STD bill at the end of each month, & discover "unaccounted" STD calls, it is too late to remember & reconcile!!

(5)

FIXED ASSET REGISTER

Asset NO:	Depreciation Rate:
Asset Name / Description:
Asset category Comp. H/W $\square$ Furniture $\square$ Office Eqpt. $\square$
$\quad$ S/W $\square$ Vehicle $\square$ Misc: $\square$
Manufacturer:	Model:

 

PURCHASE DETAILS

Name of Supplier: |

Add. of $\quad$ Phone $\quad$ Fax No: |

$\quad$ (O): $\quad$ (R): $\quad$ e-mail:

Contact Persons: |

Purchase Order No: | Order Date:

Supplier's Dely. challan No: | date:

Invoice NO | date:

Purchase Price $\quad$ Per piece (Rs) $\quad$ Qty (No) $\quad$ Total value (Rs) |

(incl. of taxes / duties) |

Product Serial NO: |

Guarantee / Warranty |

Intimated to Insur. Company / (for inclusion) on $\&$ date: |

DEPRECIATION-SCHEDULE.

	Opening Book-Value	Depreciation Amount	Year-end Book-Value
As on 1 April
Renewal

In case Asset Scrapped:

Book value:
Realised Value:
Date:

 

MANAGEMENT ACCOUNTS (MIS)

$\checkmark$ Prepare monthly / quarterly / annual budgets

• Capital budgets
• Manpower / salary budgets
• Revenue expenditure "
• Sales / Invoicing "
• Compare Budget Vs. Actual, find "Variances" (& causes) & modify budget for balance period.
• Maintain / update 3 months rolling budget.

$\checkmark$ Use rolling "Cash Inflow / Outflow statements to alert Nimrit re:

• Surplus funds (and possible short-term / long-term deployment)
• Shortage of funds (and suggestions on where to borrow from temporarily.)

(7)

COST-CONTROL (MIS)

$\checkmark$ Prepare list of

• Cost centres
• (Cost) Account Heads.
• Setup a system to compile "costs" against each.

$\checkmark$ Develop "cost-trends" from historical data and use these trends for future projections for the budget preparation / Cash outflow statements.

$\checkmark$ Cost-Variance analysis.

• Quantity (Consumed) Variance
• Price Variance

for every "account-head"

• Suggest corrective-action to bring costs under control.

$\checkmark$ INSURANCE

We have to ensure that our insurance policies are (value) updated every 3 months and renewed every year.

These policies should cover

	Fine	Ins.
Office Premises including furniture cabins.	$\checkmark$
Computers & other office eqpt. H/W.	$\checkmark$	$\checkmark$
Vehicles (Cars)		$\checkmark$ & Accidents

 

$\checkmark$ PURCHASES & PAYMENT

we buy

• Computer HW.
• Other office eqpt
• Software
• HW Maint. Services (yet to start)
• Stationary (general)
• Consumables (computers)
• " (general)
• Maintenance contracts for
• EPABX
• Pest control
• Copier

etc.

• Telephone bills
• Electricity "
• Society " (Muni-Taxes)
• " (Maint. charges)
• Newspaper / Magazines / Subscriptions
• Repair bills
• Insur. Premium
• Taxes / rents.

All of above must be paid on time / must be budgeted / must form part of expected cash-flows. Rule is "NO SURPRISES EVER!"

$\checkmark$ SALARY PAYMENTS / ATTENDANCE.

A Computerised "Personal Folder" must be created for each & every employee, giving his joining salary & annual increments and new salary as on $1^{\text{st}}$ July of each year.

For each month, depending on no. of working days (including paid holidays), DAILY SALARY should be worked out for each employee.

To multiply by "no. of days worked" to arrive at monthly salary payable.

A Computer software is already installed for this.

All employees to be issued Appt. letters? (check with Mr. Salil Gandhi first.)

All employees to be allotted a PS No. (Pay-Sheet No) & issued plastic ATTENDANCE RECORD CARD after entering the "PS NO." & "Full Name" & "Monthly Salary" data into the concerned Software.

We may create physical folders (pieces of papers) - one for each employee - to begin with and, after using for $4 / 6$ months, and gaining experience, change over to ELECTRONIC (COMPUTER-BASED) FOLDERS after. I have already prepared a ...

FAMILY ACCOUNTS & FINANCIAL MATTERS

• No. / Name of each family member.
• For each family member, compile,
• Bank Accounts
• Current / Savings / NSS / PPF etc.)
• Fixed Deposits
• Shares
• Units
• Other types of Investments / assets.
• LIC Policies
• Mediclaims
• Fixed Assets (Car / Land / Flats etc)
• Prepare for each member
• Yield chart
• Renewal "
• Premiums / Interests to be received month-wise & actual receipts.
• Follow-up non-receipts / late receipts.
• Pay personal-bills (from cheques) & deposit all cheques received & keep all bank accounts up-to-date.
• Prepare individual CASH-FLOW charts to decide upon deployment of surplus funds.
• File personal [Income-tax / Wealth-tax] returns on time.

DAILY

$\checkmark$ Bank balance in all accounts must be checked & tallied daily with the cheques issued / received and the Passbooks.

$\checkmark$ All entries in software package "TELLY" must be up-to-date. There should be no backlog at the end of the day.

$\checkmark$ "Imprest" account book should be up-to-date. Only persons authorised by Nimrit should be able to operate imprest a/c. In each individual's case, upper / max limit must be specified and a/c must not be replenished without first clearing old (or) withdrawals by submission of vouchers / bills.

$\checkmark$ Electricity Bills / Water Bills / Phone Bills / Society Bills etc.

These must be paid prior to due date to appropriate authorities & Wherever possible recipient's signature be obtained on the counterfoil. For each of these payments a running-record month-wise must be maintained on computer so we know, at a glance, when exactly each month's payment was made with bill no / bill amt / cheque no.

DAILY

OUTSTANDINGS FOLLOW-UP

$\checkmark$ One very important daily activity shall be the follow-up of our clients and collection of all outstanding payments. This has to be done / carried-out Vigorously (but quite politely although persuasively).

As soon as

• an invoice is released
• a payment cheque is received,

it should get posted on computer & the software must instantaneously "re-work / re-cast" the

CUSTOMER OUTSTANDINGS STATEMENT

in

• chronological order and
• Descending order of Amount wise

This statement (auto generated) should have following details:

• Customer Name / Ph / Fax / email
• Contact Person Name / Desig / Ph No
• Assignment / Customer Order No. & date
• Position filled / Person appointed
• Invoice NO / date / Amount (less tax & Net payable
• Date due / No. of days overdue
• Details of past promises

OUTSTANDING FOLLOW-UP

If a particular client owes us amounts against several assignments (several invoices), the Software should be capable of auto-generating client-wise outstanding statements (in descending order of value) which Accounts Officer should send out attaching a STANDARD covering-letter by

• email
• snail mail (print-outs).

Depending upon the last time / date on which such a previous statement was sent to a given customer, the Accounts Officer, will decide when to send-out the next statement.

Software must keep track of:

• all past statements sent to a client (datewise)
• all "phone-calls made" (datewise) & "promised" date.

On the "promised" date, a screen should automatically POP-UP as a reminder to Accounts Officer.

Clicking on client Name $\rightarrow$ Accnt. Officer $\rightarrow$ to client.

OUTSOURCING OF ACCOUNTS - FINANCE & RELATED FUNCTION

DAILY ACTIVITIES

$\checkmark$ Preparation / entry of all expense vouchers

$\checkmark$ Preparation / entry of all cheques

• cheques should be made as per Credit terms agreed-upon by suppliers.
• No post-dated cheques must be issued without prior ok from Nimrit
• All inward (receipts) cheques must be deposited in Bank A/c on the same day.
• All cheque-booked must be kept under lock & key. Same for pass-books, pay-in-slips and all accounts / finance related documents.
• No cheque payment must be made without a Purchase Order (PO) (whether typed or emailed).
• There must be a PO for goods or services, for which separate PO Numbering Serial should be developed.
• No payment should be made (whether by cheque or by cash) unless relevant "GOODS / SERVICE RECEIPT NOTE" is duly signed (for receipt) by the person who has received it.

MONTHLY MIS

$\checkmark$ Preparation of rolling (next 3 months) Cash Inflow / Cash Outflow statements based on

"NEXT 3 MONTHS FORECAST STATEMENT"

Each consultant must fill-in figures relevant to his / her activity ONLINE (on our intranet).

By adding-up each individual consultant's "forecast", a consolidated COMPANY-WIDE statement could be prepared to find-out if our cash flow position would be satisfactory.

It would permit us to deploy surplus cash (in instruments such as short-term FD's etc) and earn interest.

These "forecasts" must not be confused with monthly / quarterly / annual "budgets / targets".

Monthly "Performance Comparisons" (Budget vs. Actuals & Variances) shall be only with respect to BUDGETS & TARGETS & not with respect to these "rolling" forecasts, which are made, strictly for one purpose viz. to figure-out CASH-FLOWS & manage liquidity / payment issues.

M/3

(Budget Vs. Actual - Contd) 3/9/2000

Such detailed, individual consultant-wise BUDGETS / TARGETS must be "published" on our Intranet in a transparent manner (for everybody to see at any time). This must be done at the beginning of the year as also when each new consultant joins.

Ideally, the appointment letter issued to each consultant should contain his / her "Performance Targets" and the "Incentive Scheme" applicable to him / her.

In case, the incentive-payment is jointly applicable to a "group" / "team" of consultants, such group budgets / targets must be specified in the appointment letter.

Monthly "Variance" statements (for the whole company as well as for each individual consultant) must be posted on corporate Intranet for everybody to see. Such transparency boosts employee morale since everyone knows that there is no "adhoc-ism / favouritism" and that same "rules" apply uniformly to everyone.

With second quarter coming to an end, we must hurry up with formulation / framing of all budgets / targets for $3^{\text{rd}}$ & $4^{\text{th}}$ Qtr and publish the same by 20/9/2000.

M/2

MONTHLY ACTIVITIES

$\triangle$ Incentive Payment (HR)

We have just introduced an incentive-scheme for our program-manager, Chetan Shah. This will call for monthly payment of incentive-amount. This should be studied carefully & implemented. All records (of performance & incentives earned) must be maintained on Computer.

$\triangle$ Budget vs. Actual (MIS)

At the end of each month, "Budget vs. Actual" statements must be prepared (on computer) for the following:

• Expenses
• Invoicing / Billing
• Outstandings
• Order Banking
• Order Backlog

} Must be "budgeted" & compiled for each consultant individually & for the entire Company totally.

Obviously this (Comparison / Variance statement) would require ANNUAL / QUARTERLY / MONTHLY BUDGETS to be prepared at the beginning of each year in minute details (with all "assumptions" explicitly stated). These will need to be prepared for each consultant individually.

M/1

MONTHLY ACTIVITIES

$\checkmark$ Salary Payments / Retainership Payments

From appointment letters / retainership letters, all salary & perks details must be entered into relevant software.

Details of authorised leave (with pay / without pay) must be entered from the leave-card on daily basis so monthly deductions can be computed automatically by the software. For this purpose salary / retainership payments must be linked with "ATTENDANCE" system.

Monthly "Salary-Slips" must get automatically printed-out.

$\rightarrow$ Enquire "TALLY" has built-in PAYROLL Accounting feature.¹

Timely payment of salary / retainership is an important monthly routine.²

All salary payments must be made by cheques only.³

If all employees agree to open personal accounts in Saraswat bank, it should be possible to effect a CONSOLIDATED payment to the bank rather than issuing individual cheques to employees. This should be seriously explored & implemented. It will save a lot of time / effort & ensure timely crediting of each employee's ac⁴count.

P/1

PERIODIC ACTIVITIES

These will comprise:

$\checkmark$ Timely renewal of all Insurance Policies

• Office (Bldg. & Eqpt.) Insurance (Fire / Burglary / etc.)
• Car Insurance
• Mediclaim (for staff)

$\checkmark$ Timely renewal of all "Contracts"

• HW maintenance
• Telecom "
• Pest-control
• Photocopying "
• Electrician "
• Stationary Supplies (rate contracts)
• Website maintenance (?)
• Outsourcing of "Accounts"
• ATS (Annual Technical Support) for Softwares (e.g. Oracle / Tally / etc)
• POSTMASTER
• Attendance Recording System
• Fire Protection Eqpt maintenance
• Z-Cop Security
• Web-Server (Digital Nation)
• Websites domain-name renewals
• Virtual Private Network (VPN)

A/1

ANNUAL ACTIVITIES

$\checkmark$ P&L statement / Balance sheet, preparation

$\checkmark$ Income Tax Returns filing

$\triangle$ Preparation of next year's Annual Budgets / Targets & release to all (for whole Company & each individual covered by any-incentive-scheme) (MIS)

$\triangle$ Issue of Annual Awards (Increments) / lump-sum awards / incentives to all concerned employees (HR)

S/1

$\checkmark$ STATUTORY ACTIVITIES

• Payment of TDS
• " "Professional Tax"
• " "Income Tax (Corporate)"
• " "Service Tax"
• " "PF"

} Pay job

FINANCIAL / MANAGEMENT ACCOUNTING M.I.S.

| | ACTIVITY | FREQUENCY | |

| :--- | :--- | :--- | :--- |

| | | Daily | Monthly | Quarterly | Periodic |

| 1. | Development of Cost-centres & Cost-Trends. | | | | $\checkmark$ (Ann) |

| 2. | Compile / Tabulate actual expenses incurred during last 2 years (Cost-centre-wise). | | | | $\checkmark$ (Ann) |

| 3. | " actual invoicing " " " " (Several ways). | | | | $\checkmark$ (Ann) |

| 4. | Develop "NORMS" for "expenses" based on | | | | $\checkmark$ (Ann) |

| | * Staff strength $\rightarrow$ Area $\rightarrow$ No. of persons appointed $\rightarrow$ No. of computers | | | | |

| | * No. of telephone lines $\rightarrow$ No. of consultants $\rightarrow$ No. of clients | | | | |

| | * No. of shopping baskets $\rightarrow$ No. of Advts | | | | |

| 5. | Develop a set of "Assumptions" for each cost centre / staff member who is likely to "incur expenses" or "achieve billing targets". | | | | $\checkmark$ (Ann) |

| 6. | Develop ANNUAL / QUARTERLY / MONTHLY budgets (for expenses) targets (for achievements / billing). | | $\checkmark$ | $\checkmark$ | $\checkmark$ (Ann) |

| 7. | Prepare Budget Vs. Actual / "Variance" statements (for expenses / invoicing / collection / customer outstanding / appointments / partners signed-up / resumes received / shopping baskets recd / interviews conducted / proposals submitted etc). To be done monthly (Qty Variance / Price Variance / Assumption Variance). | | $\checkmark$ | | |

| 8. | Develop 3 monthly rolling forecast for CASH INFLOW / OUTFLOW. | $\checkmark$ | $\checkmark$ | | |

| 9. | Prepare month-end "ORDER BACKLOG" statement (Industry wise / Function-wise / Desig. Level wise / Client wise / Consultant wise). | | $\checkmark$ | | |

| 10. | Same as above, prepare, monthly ORDER BOOKING statement | | $\checkmark$ | | |

| | * Invoicing | | $\checkmark$ | | |

| | * Collection | | $\checkmark$ | | |

| 11. | Client-wise, chronological, Invoice History / Payment Receipt History | | | | $\checkmark$ (As & when Req'd) |

| 12. | Supplier-wise, chronological, Bill History / Payments made history | | | | $\checkmark$ (As & when Req'd) |

ROUTINE ACCOUNTING

| | ACTIVITY | FREQUENCY | |

| :--- | :--- | :--- | :--- |

| | | DAILY | Monthly | Quarterly | Periodic |

| 1. | Preparation & entry of all expense vouchers in Computer | $\checkmark$ | | | |

| 2. | " " " cheques along with Supplier's Invoices / GRN / Challans etc | $\checkmark$ | | | |

| 3. | Entry of all Purchase orders released by us on Suppliers | $\checkmark$ | | | |

| 4. | Entry / bank depositing of all cheque-payments recd from clients with invoice details | $\checkmark$ | | | |

| 5. | Daily reconciliation / verification of cheque book / Pay-in-slip / Pass-book / Bank balance | $\checkmark$ | | | |

| 6. | Maintenance of "Imprest" a/c & tally with "cash-on-hand" | $\checkmark$ | | | |

| 7. | Timely payment of all bills (water / electricity / society / Phone / Supplies / Service etc) | $\checkmark$ | | | |

| 8. | Preparation & Despatch of all Invoices (to clients) as per data given by concerned consultants | $\checkmark$ | | | |

| 9. | Follow-up of each & every invoice, one week before due date / vigorous follow-up till payment is received, based on CUSTOMER OUTSTANDING STATEMENT | $\checkmark$ | | | |

| 10. | Preparation of Client-wise "Out of Pocket Expense" Invoices & despatch | | $\checkmark$ | | |

| 11. | Follow-up of OOP Invoices payment | | $\checkmark$ | | |

| 12. | Renewal of all Insurance Policies (office-eqpt-car-mediclaim etc) | | | | $\checkmark$ |

| 13. | Alerting & follow up with concerned responsible persons for timely renewals of all "Service-contracts", before expiry date in each case | | $\checkmark$ | | |

| 14. | Monthly trial balance / P&L statement | | $\checkmark$ | | |

| 15. | Monthly actual expense statement (item-wise) | | $\checkmark$ | | |

| 16. | Filing of Income Tax Returns (Co. & Family members) | | | $\checkmark$ | $\checkmark$ |

| 17. | Timely payment / deposit of TDS / Prof Tax / IT / Service Tax / PF / any other statutory levies | | $\checkmark$ | | |

| 18. | Timely payment of salaries / retainerships / Incentives to all staff (as per attendance) | | $\checkmark$ | | |

| 19. | Timely renewals of all FD's / creation of new FDs | | | | $\checkmark$ |

| 20. | Maintenance of Fixed Assets Register | | $\checkmark$ | | |

Note:

Routine accounting will cover A/C / Income & all family members.