Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do. There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Now as I approach my 90th birthday ( 27 June 2023 ) , I invite you to visit my Digital Avatar ( www.hemenparekh.ai ) – and continue chatting with me , even when I am no more here physically

Wednesday 21 December 2022

M.I.S. ORDER EXECUTION MODULE

 

                                                                                                                                                                April 1995

Job Description of Administrator:

 

1 – Personnel 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 “Stationery” bills

-          Inventory Control / Reordering of all stationary items (so we do not run short)

-          Statutory Compliances

                       Shop & Establishment Act.

-          House keeping

-          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

o   Correspondence Files

o   Biodata Files

o   Biodata Boxes

 


Job Description of a Consultant:

 

·         Follow-up client (once computer print-out 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 2nd/3rd 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 letters 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 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 sit across client and fill-up “Compensation-Format” for calculation our Professional-Fees.

 

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

eg.

-          Call some more candidates

-          Readvertise

-          Search our Database       etc.

 

·         Your 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 phone us. This is not correct.

 

We owe to each candidate feedback on whether he got rejected/shortlisted 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 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

 
 

 

 

 

 

 

 


Which could be converted to ADVANCE, if we had Time to attend to these (although intuitively we know that we have in our databank, very Suitable Candidates)

LOST POTENTIAL!

LOST BUSINESS!!

 

 

Either because,

·           We want to start a relationship with an important client (eg. Hinduja/Finolex/Kirloskar etc.)

 

             OR

·         We are not sure of being able to find Suitable Candidate & create poor impression)

 

Obviously this is Top PRIORITY & action must be started at once, otherwise these ”orders” will get cancelled!

 
                                                                                                                                                                                       

 

 

 

 

 

 

 

                                                     

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 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

o   Computer print-out sent-date/ (no. of records)

o   Detailed Biodata sent-date / (no. of biodatas)

o   Interview Arranged – date / no of candidates

o   Remarks

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

-         

There is a folder for each of these

 
Order Processing

-          Interview Fixing / Follow up.

-          Advance / Invoicing / Accounting.

The formats to be used are shown in these individual folders. 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 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 FORM/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.

 

 

 

 

 

 

 

 

 

 

 

 

 

                                                                                                                                                                                3/9/1993

 

MIS MODULE

                                                                             Mgmt. Info. System

 

Every business must set targets (budgets) and must measure actual performance against those target. 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 ½ 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 propositioned to)

a.  Size of databank

b. No of on-line statement sent

c. No. of bio-datas sent

d. No. of prelim-interviews held

e. No. of final interviews help

f.  No. of call-letters sent

g. No. of appli./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 or directly proportional to

1. No of mailers sent out

2. No. of “Birth-Day” greetings sent

3. No. of unabridged Annual Reports collected

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 Members

                                                                - Membership Directories of Professional bodies

8. No. of “associates” established in Various towns

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                                                                                                                                                                                28/3/1998

 

DUTIES / RESPONSIBILITIES

OF

ACCOUNTANT

 

1.       Statutory

2.       Financial Accounts / Invoicing

3.       Management Accounts (MIS)

4.       Cost-Control

5.       Budget

6.       ACRA (Annual Calendar of Repetitive Activities)

7.       Insurance / Renewal

8.       Purchase & Payments

9.       Salary Payment / Attendance

 

STATUTORY

·         Timely payment of Income tax (Company as well as family members)

·         Filling of Income Tax Returns.

 

FINANCIAL ACCOUNTS

·         Prepare vouchers for all purchases and make payment after comparing / checking

-          Purchase order (Qty / Price / Value / Serial no. of eqpt. Delivered/commercial terms/ taxes etc.)

-          Delivery challan

-          Vendor Invoice

·         Raise Invoice for all executives appointed. Follow-up till money received. Raise Debit/Credit notes. Out-of-pocket expense invoices.

·         Preparation of monthly P&L a/c

·         All banking matters (deposit/issue of cheques, pass books, fixed deposits, tallying bank statement with our internal records etc.)

·         OUT-OF-POCKET EXPENCES (OOP)

We are supposes to

Oop from our clients by

Appropriate monthly invoice

 

This arrangement is cart of our TERMS

 

Main OOP are

A.      Courier charges (call letters/interview letters)

B.      STD/ISD phone charges (very frequents)

C.      Outstation travels (occasionally)

Outstation travel are only undertaken by Nirmit – so 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 installed for over 6 months now. There were some “hitches”, Are these sorted out? Is software still “clumsy” ? what happens if operator forget to enter a few STD calls daily? Do we have a fool-proof method? If not stream-lined, 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!!

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FIXED ASSET REGISTER

 

Asset No:

Depreciation Rate:

Asset Name / Description:

Asset Category

 

Comp. H/W          Furniture        Office Eqp

 


Comp. S/W           Vehicle           Misc     

Manufacturer:

                                                Model:

 

PURCHASE DETAILS

 

Name of Supplier             :

Add. Of                ‘’             :

Phone of          ‘’(O)          :                               Fax No.:

                                (R)          :                               e-Mail:

Contact Personas             :

Purchase order No           :                               Order Date:

Supplier’s Dely. Challan No:                         Date:

Supplier’s Invoice No      :                               Date:

Purchase Price (inc. of taxes/octroi)         Per Piece (Rs)                    Qty (no)               Total Value (Rs)

Product Serial No:

Guarantee / Warranty:

  Intimated to Insu. Company (for inclusion) on (date)

 

DEPRECIATION – SCHEDULE

As on

Opening Book-Value

Depreciation Amount

Year-end Book-Value

1 April ----------

 

 

 

1 April ----------

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In Case Asset Scrapped:

Book Value:

Realised Value:

Date:

MANAGEMENT ACCOUNTS (MIS)

·         Prepare monthly/Quarterly/annual/budgets

-          Capital budgets

-          Manpower / Salary budgets

-          Revenue expenditure budgets

-          Sales Invoicing   budgets

      & Compare Budget Vs. Actual, find “Variances” (& Causes) & modify budget for balance period.

      Maintain / update 3 month rolling budget.

·         Use rolling “Cash Inflow/outfeeds statements to alert Nirmit

Re:

-          Surplus funds (and possible short term/long term deployment)

-          Shortage of funds ( and suggestions on where to borrow from temporarily)

 

COST CONTROL (MIS)

·         Prepare list of

-          Cost Centres

-          (Cost) Account Heads.

        Setup a System to compile “Costs” against each.

·         Develop “Cost-trends” from historical data and use these trends for future projections for the budget preparation Cash outflow statements.

·         Cost-Variance analysis

-          Quantity (Consumed) Variance

-          Price Variance

for every “account-head”

·         Suggest corrective-action to bring costs under control.

 

INSURANCE

We have to ensure that each Insurance policies are (Value) updated every 3 months and renewed every year.

These policies should cover

 

FIRE

Threat

Office Premises including furniture cabins.

 

 

ü

 

Computers & other office eqpt. H/W

ü

ü

Vehicles (Cars)

 

 

ü

PURCHASE & PAYMENT

We buy

-          Computer H/W.

-          Other office eqpt.

-          Software

-          Software maintenance (contract) Services

-          H/W Maintenance Services (yet to start)

-          Stationery (general)

-          Stationery (Computer)

-          Consumable (Computer)

-          Consumable (general)

-          Maintenance contracts for

o   EPABX

o   PEST Control

o   Copier

 

Etc.

-          Telephone bills

-          Electricity bills

-          Society bills (Muni-Taxes

-          Society bills (Maint./Charges)

-          Newspapers/Magazines/Subscriptions

-          Repair bills

-          Insu. Premium

-          Taxes/rents

 

All the above must be paid on time / must be budgeted/must form part expected cash flows.

Rule is “NO SURPRISES EVER!”

 

SALARY PAYMENTS / ATTENDANCE

A computerised “Personal Folder” must be created for each & every employee, giving his joining salary & annual increements and new salary on 1st 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 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 A/C/ months and gaining experience, change over to ELECTRONIC (COMPUTER-BASED) FOLDERS thereafter. I have already prepared a folder & given to Sheetal.

 

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 / Current assets.

-          LIC Policies

-          Mediclaim

-          Fixed Assets (Car/Land/Flats etc.)

·         Prepare for each member

·         Yield chart

·         Renewed chart

·         Premiums / Interests to be received month-wise & actual receipts. Follow-up non-receipts/late receipts

·         Pay personal bills (thru cheques) & deposit all cheques received & keep all bank accounts up-to-date.

·         Prepare individual CASH-FLOW charts to decide upon deployment of surplus fund

·         File personal (Income-tax Wealth-tax) returns on times

 

DAILY

·         Bank balance in all accounts must be cheeked & tallied daily with the cheques issued/received and the Passbooks.

·         All entries in software package “TELLY” must be up-to-date. There should be no backlog at the end of the day.

·         “Imprest” account book should be up-to-date. Only persons authorised by Nirmit should be able to operate imprest a/c. In each individuals case upper/max limit must be specified and a/c must not be replenished without first clearing old earlier withdrawals by submission in proper vouchers/bills.

·         Electricity Bills/Water Bills/Phone Bills/Society Bills etc.

 

These must be paid before the 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 along with bill no./bill amt/cheque no. etc.

DAILY

OUTSTANDING FOLLOW-UP

·         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

o   An invoice is released

o   A payment cheque is received it should get posted on computer & the software must instantaneously “rework/recast” the

 

CUSTOMER OUTSTANDINGS STATEMENT

 

In

 

o   Chronological order and

o   Descending order of Amount wise

This statement (auto generates) 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 Adv & Not payable

-          Date due / No. of days overdue

-          Details of past promises made etc.

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 Account officer, will decide when to send-out the next statement.

Software must keep track of

-          All past statements sent to a client (date-wise)

-          All phone-calls made (date-wise) & “promised” date.

On the “promised” date, a screen should automatically POP-UP as a reminder to Accounts officer to follow-up.

Clicking on client Name should connect Acct. officer to client.

 

 

                                                                                                                                                                                D/1

OUTSOURCING OF

ACCOUNTS – FINACE & RELATED FUNCTION

 

DAILY ACTIVITIES

·         Preparation/entry of all expense vouchers

·         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 Nirmit

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 RECEIPTNOTE” is duly signed (for receipt) by the person who has received it.

 

                                                               

                                                MIS                                                                                        M/4

 

MONTHLY

·         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 Consultants “forecast), a consolidated COMPANY-WIDE statement could be prepared to find-out if our cashflow 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

                                                                                                                                                                3/9/2000

(Budget Vs. Actual-Cont.)

 

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.

 

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 moral since everyone knows that there in 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 3rd & 4th Qtr. And publish the same by 20/9/2000

 

 

                                                                                                                                                                              M/2

MONTHLY ACTIVITIES

 

·         Incentive Payment                          (HR)

We have just introduced on 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.

 

·         Budget vs. Actual                             (MIS)

 

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

Must be “budget” & Compiled for each Consultant individually & for the entire Company totally.

 
 


o   Expenses

o   Invoicing / Billing

o   Outstanding’s

o   Order Booking

o   Order Backlog

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

 

·         Salary Payments / Retainership Payments

 

From appointment letter/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-cad on daily basis, so monthly deduction can be computed automatically by the Software. For this purpose salary/retainership payments must linked with “ATTENDANCE” System. Monthly “Salary-Slips” must get automatically printed-out.

 

I suppose “TELLY” has built-in “PAYROLL ACCOUNTING” feature.

 

Timely payment of Salary/retainership is an important monthly routine.

 

All Salary payments must be made by cheques only.

 

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 account.

 

 

 

 

 

 

 

 

 

 

 

                                                                                                                                                                                                P/1

PERIODIC ACTIVITIES

 

These will Comprise:

·         Timely renewal of all Insurance Policies

o   Office (bldg. + eqpt.) insurance (fire/theft burglary etc.)

o   Car Insurance

o   Mediclaim (for staff)

·         Timely renewal of all “Contracts”

o   HW maintenance

o   Telecom              

o   Pesticide             

o   Photocopying   

o   Electrician

o   Stationery Supplies (rate contracts)

o   Website maintenance (?)

o   Outsourcing of “Accounts”

o   ATS (Annual Technical Subbort) for Software’s (e.g. Oracle database) POSTMASTER etc.

o   Attendance Recording System

o   Fire Protection Eqpt maintenance

o   Z-COP Security

o   Web-Server (Digital Nation)

o   Website domain-name renewals)

o   Virtual Private Network (VPN)

 

A/1

ANNUAL ACTIVITIES

·         P&L Statement/Balance sheet, preparation

·         Income Tax Returns filing

·         Preparation of next year’s Annual Budgets/Targets & release to all

(for whole company & each individual covered by any incentive-scheme)

 

 

 

 

 

 

STATUTORY ACTIVITIES                                                                                                                                                 S/1

·         Payment of TDS

·         Payment of Professional Tax                                              Prof job

·         Payment of Income Tax (Corporate)                                         

·         Payment of Service Tax

·         Payment of PF

 

 

 

 

 

 

 

 

 

 

                                                                  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                                                                                                                                                                                                                                                                                                                                                                                6/9/2000

ROTING ACCOUNTING                    

ACTIVITY

FREQUENCY

Daily

Monthly

Qtrly

Periodic

1

Preparation & entry of all expense vouchers in computer

ü

 

 

 

2

Preparation & entry of all cheques along with Supplier’s Invoices/GRN/Challans etc.

ü

 

 

 

3

Entry of all Purchase order released by us on Suppliers

ü

 

 

 

4

Entry/bank depositing of all cheque-payments recd from client with invoice details

ü

 

 

 

5

Daily reconciliation/verification of Cheque Book /Pay-in slip / Pass-book/Bank balance

ü

 

 

 

6

Maintenance ofimprest a/c & tally with “Cash-on-hand”

ü

 

 

 

7

Timely payment of all bills (water/electricity/society/phone/supplies/service etc.)

ü

 

 

 

8

Preparation & Despatch of all Invoices (to clients) as per data given by concerned consultants

ü

 

 

 

9

Follow-up of each & every invoice, one week before due date/Vigorous follow-up till full payment is received, based on CUSTOMER OUTSTANDING STATEMENT

ü

 

 

 

10

Preparation of Client-wise “Out of Pocket Expense” Statement

                                                   Invoices & despatch

 

ü

 

 

11

Follow-up of OOP Invoices Payment

ü

 

 

 

12

Renewal of all Insurance Policies (Office-eqpt-car-mediclaim etc.)

 

 

 

ü

13

Alerting & following up with concerned/responsible persons for timely renewals of all “Service-Contracts”, before expiry date in each case

 

 

 

ü

14

Monthly trial balance / P&L statement

 

ü

 

 

15

Monthly actual expense statement (item-wise)

 

ü

 

 

16

Filing of Income Tax Returns (Co’s & Family members)

 

 

 

ü

17

Timely payment/deposit of TDS/Prof-Tax/IT/Service Tax/PF/any other statutory levies

 

 

 

ü

18

Timely payment of Salaries / retainerships/incentives to all staff (as per attendance)

 

ü

 

 

19

Timely renewals of all FD’s/creation of new FD’s

 

 

 

ü

20

Maintenance of Fixed Assets Register

 

ü

 

 

 

Note:

Routine accounting will cover 3P/Income & all family members.

 

                                                                                                                                                                                                                                                                                                                                                                                6/9/2000

FINANCIAL / MANAGEMENT ACCOUNTING

MIS

                                                                                                                                               

                                                                  

ACTIVITY

FREQUENCY

Daily

Monthly

Quarterly

Periodic

1

Development of Cost-Centres & Cost-Trends

 

 

 

 

2

Compile / Tabulate “actual expenses” incurred during last 2 years (Cost-centre wise)

 

 

 

 

ü (Ann)

3

Compile / Tabulate “actual invoicing”         “ (several ways)

 

 

 

 

4

Develop “NORMS” for “expenses” based on

Ø  Staff strength > Area > No. of persons appointed > No. of computers > No. of telephone lines > No. of consultants > No. of clients > No. of shopping baskets > No. of Advts

 

 

 

 

 

 

ü(Ann)

5

Develop a set of “ASSUMPTIONS” for each cost centre/staff member who is likely to “incure” expenses or “achieve” billing targets

 

 

 

ü(Ann)

6

Develop “ANNUAL/QUARTERLY/MONTHLY”

budgets (for expenses)

targets (for achievements/billing)

 

ü

ü

ü (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)

 

ü

 

 

8

Develop 3 monthly rolling forecast for “CASH INFLOW/OUTFLOW”

 

ü

 

 

9

Prepare month-end “ORDER BACKLOG” statement (Industry wise/Function-wise/Desig. Level wise/Client wise/Consultant wise)

 

ü

 

 

10

Same as above, prepare, monthly

·         ORDER BOOKING statement

·         Invoicing        

·         Collection     

 

ü

 

 

11

Client-wise, chronological, Invoice History/ Payment Receipt History

 

 

 

ü As when required

12

Supplier-wise, chronological, Bill History/Payments made history.

 

 

 

 












































 

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