Statutors
Financial
Accounts / Invoicing
Management
Accounts (MIS)
Cost-Control
Budgets
ACRA
(Annual Calendar of Repetitive Activities)
Insurance/Renewal
Purchases
& Payments
Salary
Payments / Attendance
STATUTORY
Timely
payment of Income Tax company as well as family members.
Filing
of Income Tax Returns
FINANCIAL ACCOUNTS
Prepare
vouchers for all purchase and make payments after comparing/checking
Purchase
Order(Qty/Price/Value/Serial No. of delivered / commercial terms/taxes etc.
Delivery
challan
Vendor
Invoice
Raise
Invoices for all executives appointed follow-up till money received Raise
Debit/Credit notes out-of-pocket expense invoices.
Preparation
of monthly P&L Account
All
banking matters (Deposit/issue of cheques, passbook, fixed deposits, tallying
bank statement with our internal records etc.)
OUT-OF-POCKET
EXPENSES
This
arrangement is cost of our Terms
Main
OOP are
Courier
charges (Call letters/Interview Letter)
STD/ISD
phone charges (very frequent)
Outstanding
travel (occasionally)
Outstation
travels are only undertaken by Nirmit-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 voucher.
I
believe “Courier Charges” are being complied reasonally well. Please check can
this record be computerized ? 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 operate 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 remember & recondite!!
FIXED
ASSET REGISTER
Asset
No:
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Depreciation
Rate:
|
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Asset
Name / Description
|
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Asset
Category
|
Comp.
H/W Furniture Office Equi
Comp
S/W Vehicle MIS
|
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Manufacturer
:
|
Model:
|
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PURCHASE
DETAILS
|
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Name
of Supplier:
|
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Add.
Of Supplier:
|
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Phone
of Supplier(O):
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Fax
No.:
|
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(R) :
|
E-Mail
:
|
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Contact
Persons:
|
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Purchase
Order No:
|
Order
Date:
|
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Suppliers
Dely. Challan No:
|
Date
:
|
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Suppliers
Invoice No:
|
Date
:
|
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Purchase
Order No
(Incl.
of taxes/ octroi)
|
Per
Piece (Rs.)
|
Qty
(No)
|
Total
Value (Rs.)
|
||
Product
Serial No.
|
|||||
Guarantee
/ Warranty
|
|||||
Intimated
to Insu. Company
(for
inclusion) on date
|
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DEPRECIATON
– SCHEDUE
|
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As
on
|
Opening
Book Value
|
Depreciation
Amount
|
Year-end
Book-Value
|
||
1
April
1
April
|
|||||
In
case Asset Scrapped
Book
Value:
Realised
Value:
Date:
|
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MANAGEMENT
ACCOUNTS (MIS)
Prepare
monthly/ Quarterly/ Annual Budget
Capital
Budget
Manpower
/ Salary budgets
Revenue
expenditure budgets
Sales
/ Invoicing budgets
&
compare Budget vs. Actual, find “Variance” (& causes) & modify Budget
for Balance Period.
Maintain
/ Update 3 month rolling Budget.
Use
rolling “Cash Inflow / Out flow statements to alert Nirmit
Re:-
Surplus
funds (and possible Short term/ Long term
Employment )
Shortage
of Fund (and suggestions on where to borrow from temperately.
COST-
CONTROL
Prepare
List of
Cost
Centers
(Cost)
Account Heads.
Set
up a System to compile “costs against each.
Develop
“Cost- trends’ from historical data and use these trends for future
Projectctions 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 Insurance policies
are (Value) updated every 3 Months and renewed every Year.
These
Policies Should cover
Office
Premises including furniture Cabins
|
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Computers
& other office Equipment H/W.
|
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Vehicles
(Cars)
|
PURCHASE
& PAYMENT
We
buy
Computer
H/W
Other
office Equipment
Software
Software
maintenance (Contract ) Service
H/W
Maintenance Service (Yet to Start )
Stationery
(General )
Stationery
(Computers)
Consumables
( Computers)
Consumable
(General )
Maintenance
Contracts for
EPABX
Pest
Control
Copier
Telephone
Bills
Electricity
Bills
Society
Bills (Municipal Taxes)
Society
Bills (Maintenance Charges)
Newspapers
/ Magazines / Subscriptions
Repair
Bills
Insurance
Premium
Taxes
/ Rents.
All
of alone must be paid on time / must be budgeted / must form part of Expected
Cash flows. Rule is “NO SURPRISES EVER!”
SALARY
PAYMENTS / ATTENDANCE
A
Computerized “Personal Folder” must be created for each & every employee,
giving his joining Salary & annual Increments 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 working days
‘’ to arrive at monthly salary Payable.
A Computer Software is already installed
for this.
All Employee to be issued Appt. Letters/
(Check with Mr. Salil Gandhi First.)
All Employee 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 – BASE ) FOLDERS
thereafter. I have already prepared a Folder to Sheetal.
FAMILY
ACCOUTS & FINANCIAL MATTERS.
No./
Name of each Family Member for each Family member, compile
Bank
Accounts
(Current
/ Saving / NSS / PPF etc.)
Fixed
Deposits
Shares
Units
Other
types of Investments/ Current assets
LIC
Policies
Med
claims
Fixed
Assets (Car/ Land/ Flats etc.)
Prepare
For each Member
Yield
Chart
Renewal
Chart
Premiums
/ Interests to be received month wise & Actual receipts.
Follow-up
non-receipts / late receipts.
Pay
Personal – Bills (thru Cheques) & Deposit all Cheque received & Keep
all Bank accounts up to date.
Prepare
individual CASH- FLOW charts to decide upon deployment of surplus
File
Personal (Income tax/ Wealth Tax) returns entire.
