ACITIVITY LOGS

Day 1 on 24 dec 2020

 On day first Mr Muneeb tells about account payable, how our company manage all the
process of receivable.
 Mr Muneeb shows documents on which they trust and make entries into their software
(they use SAP software for all their process).
 The document which is used for entries called inward gate pass (in case of account
payable). A person who is on gate write every single entery into warehouse.on İGP firstlly
they check dates and than quantity of product and then all these things they telly with
invoice of sender party. All the process should done physically.
 Company gives credit to its trustworthy customers upto certain limit and for that purpose
national sales manager permission is mendatory.
 Mr Muneeb told me about the documents of İGP to arrange it in order and also for my
understanding which documents are necessary for account payable.
 Mr Muneeb also tells us purchase cycle, which company purchase raw material, which
process should company follow.
 He also tells us their recipe and their control production so their is no chance of wastage of
their raw material.

Day 2 on 28 dec 2020

 On day 2 Mr Sharukh tells me about account receivable, how our company manage all the
process of account receivable.
 He told me about import process, and tells how our company imports its products from
abroad.
 he also showed me documents which are used in receivable process.
 The documents on which they relay called outward gate pass OGP
 One thing i also notice there,they prepared DayBook every day in which incoming amout
mentioned.

Day 3 on 29 dec

 On day 3 Mr Muneeb tells me purchase cycle and sale cycle.

 Today i attached all documents which are requried for purchasing , these are invoices,freight
numbers,weight notes and purchase orders it self
 Today i work on these documents.

Day 4 on 30 dec

 On day 4 Mr Sharukh tells me about FATR (Finance Against Trust Receipt).

 İt is like loan given by banks to its customers for 3 months but for those customers who has
goods ties with banks, it will be 6 months.
 on such amount bank charge some amount of intrest.
  Mr Sharukh also tell me about their import system, which can manage both Mr Abdullah and
Mr Sharukh.
 Website name is weboc,gov,pk
 For any order firstlly we fill EIf (electronic i foam )
 They tells me about HS codes which are used as product names assigned by WHO in
international market. They also use term GD (good declaraction) which tell us such good
received.
 Only fasial bank deal in import acitivities.

Day 5 on 31 dec

 Mr Sharukh teaches me how to work on excel sheet. He gives me some data about its
customers and tell me how we maintain all record.
 Today Mr Sharukh tells me about LOC (letter of credit). There are 2 types of LOC revocable
and irrevocable
 Here we use irrevocable type
 For ordering some thing for abroad firstlly we insured our products from any insurance
company on which they charge somw amount of intrest than we send their fee in the foam
of draft and than they share his policy with us after it we fill LOC.

Day 6 0n 1 jan 2021

 Today i done same work which i do yesterday