NyashaG N01522673Qreport

CHIKAFU CHAKANAKA
Name Josphat Nyasha
Surname Goronga
Student number N01522673Q
Faculty Commerce
Department Banking Inv Mgt

CHIKAFU CHAKANAKA
JOSPHAT NYASHA GORONGA N01522673Q BSCBANK & INV MGT ATTACHMENT REPORT
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i. DECLARATION
I Josphat Nyasha Goronga hereby declare that this industrial attachment report is an
original work and has not been published or submitted to this organization or any
other institution of training for any academic award.
ii. ACKNOWLEDGEMENTS
First and foremost I would like to express my profound appreciation to the
management and staff of Metro Peech and Browne- KweKwe Branch for having
offered me the opportunity to undertake my attachment in their organization.
I forward special mention to Mr. M Chipunza (KweKwe branch Manager), Mr. C

Pezani (KweKwe branch Accountant), Mr. T Charandura (Creditors’ clerk), Ms. F
Jamu (cashier) and Mrs. M Gondongwe for the support and assistance they
extended to me during my attachment period. I owe the successful compilation of
this report to all these people who were constantly supporting me with professional
guidance during my stay at Metro Peech and Browne KweKwe
My family members deserve a heartfelt gratitude for their moral, financial and
social support they offered me during my Industrial attachment. Lastly I thank God
for granting me an opportunity to be a university student and consequently being at
Metro Peech and Browne Wholesalers’ KweKwe.
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iii. ABSTRACT
I carried out my industrial attachment at Metro Peech and Browne Wholesalers
KweKwe Branch and is licensed under Wholesale and Retail Operations, and it acts
as a one stop shopping centre for small to medium enterprises, other institutions and
as well as individuals for their groceries and other house ware products. Metro
Peech and Browne Wholesalers offer industrial attachment opportunities to the
students In need of education about accounting, marketing and procurement.
Industrial attachment is an opportunity to relate what has been covered in class and
what is applicable in the field in an operational environment. The purpose of the
program is to fulfill the core equipment for the award of a Bachelor of Commerce
Honours Degree in Banking and Investment Management to get a practical
aspect of the theoretical work studied at the university and to understand the
operations in the business sector and to enable students gain experience in different
tasks. During my industrial attachment period a number of approaches and exposure
methods were used which included: hands on, through reading relevant materials,
and also questions and answer approaches. I was assigned mainly in Accounts and
Administration department and to other different departments which include the
Stores and receiving Department, Buying or procurement department, and the
Dispatch Department. This helped me interact with different people, clients and it
also helped me acquire information and gain the benefits of customer care. I gained
knowledge on how to enter and analyze data using different accounting and
statistical packages in finance solution, such Excel and Fincon Accounting Package.
In conclusion, this was an opportunity to develop and enhance skills and

competencies in my career field which I actually achieved
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TABLE OF CONTENT
Contents Page No.
i. Declaration.............................................................................................................3
ii. Acknowledgement.................................................................................................3
iii. Abstract..................................................................................................................4
1. Chapter One…………………………………………………………………...
1.1 Introduction……………………………………………………………..6
1.2 Location…………………………………………………………………8
1.3 Vision, mission statement and core values……………………………...9
1.4 Objective of the firm…………………………………………………...11
1.5 Organizational structure………………………………………………..12
1.6 Brief description of departments…………………………………….....15
1.7 Organization’s business, target market and company
Performance analysis………………………………………….…….…16
2. Chapter Two…………………………………………………………….
2.1 Field attachment activities performed during training by student……..17
3. Chapter Three……………………………………………………………….
Linking Theory with practice
3.1 Is the theory agreeing or disagreeing with practice…………………….33
3.2 Is the theory up to date, applicable, adaptable and acceptable…………38
4. Chapter Four………………………………………………………………….
Conclusion and Recommendations
4.1 Problems encountered during the program…………………………….41
4.2 Suggestions for improvement to the organization and the University…42
Appendices……………………………………………………………………
Reference………………………………………………………………...44
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CHAPTER 1
1.1 INTRODUCTION
The date of arrival at Metro Peech and Browne Wholesalers (KweKwe) was on the 30 th of August
2017, after a confirmation call from Mrs’ M. Hamadziripi, the branch secretary. The secretary
walked me to the accounts department offices and introduced me to the branch accountant, Mr E
Chitsenga, Creditors clerk, Mrs Mazuba, Ms Jamu and Mrs Takaidza, the cashiers. Further
introductions were made to the rest of the staff and management, namely Mr Chipunza, the branch
manager and Mr Hove, the branch buyer.
30th of August marked the beginning of my academic journey at Metro Peech and Browne
Wholesalers
COMPANY HISTORY
The business began in 1949 as Sunray Stores – operating rural retail outlets in Mashonaland. By
1978 it was operating 32 rural stores.
In 1979 Metro Peech opened its first Harare wholesale outlet. Metro Peech was a general
wholesale business that operated six wholesale outlets located in Harare and in Murehwa, Mutoko,
Rusape, Mubaira, Mamina and Magunje.
In 1995 Christopher Peech opened the first Makro branch in Harare which was followed by a
second branch in Bulawayo, in 1997.
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In 1997 the first 2 Woolworths franchise branches were opened in Harare – Westgate and
Chisipite. In 2004 Christopher Peech and Miles Peech converted the Westgate W Store branch into
Westgate Spar, and managed it for its first year.
Also in 2004 Green Park was opened in Glen Lorne, during very difficult times. This business has
now been leased out.
In 2007, in arguably the most difficult period of Zimbabwe’s economic history, Metro
Commodities was opened and throughout 2008 and to date has offered a consistent and cheap
supply of basic commodities to its customers – in bulk, and in packaged form.
The core of Metro Commodities’ business in 2008 was supplying food to Northern Tobacco
contracted farmers for the payment of their workers. Based at the TPZ Complex it was on site to
serve farmers when food and cash was scarce. Since the introduction of the USD and the more
ready availability of cash, there has been a reduction in sales but it still remains an important part
of the business.
Due to its ability to source well via two external suppliers - Green Wave Trading and Jogarr
Limited, Metro Commodities is able to supply basic products at extremely competitive prices.
Products of Metro Peech and Browne are branded, brand name is Green wave
Tightly run and without a head office overhead, Metro Commodities is not burdened by high
running costs and tall corporate structures, and as a result of this reaction time and decision making
processes are quicker than other operations. Service has been a key priority of the owners and
management for many years.
Metro’s 11,000 square metre warehouse in Waterfalls allows efficient packing procedures and
thereby the most cost effective packing.
Also on this premises are two maize mills and an oil extraction plant which manufacture mealie
meal, cooking oil and soya meal.
This large storage space allows Metro Commodities to handle large volumes of goods at any time.
Trucks are able to enter the warehouse to load and offload which increases efficiency and allows
greater control of stock.
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Metro Commodities’ ambition is to become one of Zimbabwe’s principal food traders, processors
and wholesalers.
1.2 LOCATION
Metro Peech and Browne Wholesalers KweKwe Branch is situated at number 8 Cobar Street,
KweKwe, its 1km away from the northern side of KweKwe Central Business District. Below is a
map which shows the location and direction to Metro Peech & Browne Wholesalers:
Key: Direction to Metro Peech Metro Peech
KweKwe CBD Roundabout
Harare Highway
KweKwe CBD TM Transport
Cobar Road
Tranp
Main Market and Bus Rank Halsteds Cobar Road
osrt
Metro P
Manchester Rd e ech &
Browne
Wholes
alers
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1.3 VISION, MISSION STATEMENT, AND CORE VALUES
VISION
To become one of Zimbabwe’s principal food trader, processor and wholesaler.
MISSION STATEMENT
Provide the best service to our valued customers
Mottos
Their mottos are “Green wave chikafu chakanaka’ and”vatengi kwedu munohwina”. The
organisation fulfils their motto by coming up with promotions that offer prices to the lucky
customers. These promotions offer the organisation a chance to market itself and gain customer
loyalty.
CORE VALUES
An organisational value is “a belief that a specific mode of conduct is preferable to an opposite or

contrary mode of conduct” according to Rokeach (1973, The Nature of Human Values).
 Teamwork
Listening to and respecting each other whilst working together to achieve mutually beneficial
results.
 Honesty
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Being open and honest in all our dealings and maintaining the highest integrity at all times
 Customer Service
We enjoy their custom and so they deserve our service -timely, responsive, pro- active, meeting
their needs and aiming to delight
 Excellence
Always doing what we say we will and striving for excellence and quality in everything we do.
 Professionalism
At all times we act with integrity, providing quality service, being reliable and responsible
 Personal development
we value learning, feedback, coaching and mentoring. All opportunities for our own
learning are pursued.
NB Metro Peech and Browne wholesalers is a family owned business. It does not have any
written or published vision and mission statement. I managed to deduce them from the company
history provided and observations made during my stay in the organisation. Interviews with the
branch accountant also helped me to deduce the organisation’s core values.
1.4 OBJECTIVES OF METRO PEECH AND BROWNE WHOLESALERS
 to meet the demands and needs of their customers

 create and maintain strong relationships with suppliers and customers
 increase product range and variety
 Promote local products so as to help in rebuilding the manufacturing industry of
Zimbabwe.
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1.5 ORGANISATIONAL STRUCTURE
Metro Peech and Browne Wholesalers is a decentralised organisation. The head office is situated
in Harare. The various branches of Metro Peech wholesalers and Browne are independent of each
other. Each branch meets its own expenses and has the right to make decisions which they deem
necessary to improve their operations but with the condition that they do not exceed their budgets
which are prepared from the head office.
Directors of Metro Peech and Browne Wholesaler
Christopher Peech
Miles Peech
Barry Browne
Peter Mubi
Management
Key managers at the head office include the following:
a) Tracy Webb - Finance and Accounts

b) Adrienne Key - Accountant
c) Pickard Chiduku - head hardware buyer
d) Collins Satombo - head food buyer
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ORGANISATIONAL STRUCTURE OF METRO PEECH AND BROWNE KWEKWE
Branch Manager
Accountant Buyer
Creditors Clerk Receiving

Cashiers Supervisor
Receiving Clerk
Till Supervisor
Floor Supervisor Despatch Supervisor
Merchandisers / Door Checkers

Till
Operators/caller customer
assistants
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1.6 BRIEF DESRIPTION OF DEPARTMENTS
ACCOUNTS DEPARTMENT
This is said to be the mother-board of the branch. Constitutes of the accountant and creditors’
clerk. The accountant is responsible for the books of accounts of the branch, general operations of
the branch. Creditors clerk is mainly responsible for supplier reconciliations, credit controlling and
debtor controlling.
Metro money centre
This is a department dealing as an agent for other banking institution we have steward agency,
mukuru.com, Eco-cash, Tele-cash and One-wallet it is our metro mini bank as it takes deposits and
our customers can withdraw their funds from it. Exchange of currencies also takes place Rands and
USD mainly, because of the Mukuru platform receives funds in Rands but dispatches them in USD
therefore exchange rates come to play. RBZ also regulates the money centre.
Cash office
The cash office falls under the accounting department. It is responsible for handling cash of the
branch which includes cashing up till operators, banking, making petty cash payments which have
been authorised by the manager. They also conduct the daily RBZ sheet where our daily funds
flow is regulated and monitored
RECEIVING DEPARTMENT
The receiving department is one of the key departments. The main responsibility of the receiving
department is to receive ordered goods by the buying department, in their good condition, ordered
quantity, correct product. The purchases are entered into the system by the receiving clerk,
receiving supervisor ensures that the goods are received correctly and accurately, floor supervisors
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take the goods into the shop floor for packaging and storage. The receiving department is also
responsible for repacking breakages.
BUYING DEPARTMENT
This is one of the important departments in the wholesaling business. The buyer is the head of the
department. Buying is semi-centralised, that is buyers have got the freedom to source stocks from
suppliers of manufacturers directly. There are certain stock lines that they get from the head office
through its manufacturing department, Metro Milling. Scientific buying system is used to make
orders. Minimum order level is used to control stock. A buyer can negotiate for terms as well as
prices. For branches outside Harare like ours, the buyer sources for stock from various suppliers
and those suppliers deliver to Metro Milling were the goods are despatched if the order’s tonnage
is more than 20tonnes. Some suppliers deliver directly to the branch depending on the ordered
quantity. It is the buyer’s responsible to monitor stock movement and coming up with decisions
concerning slow moving products, near to expire and the expired products.
DESPATCH DEPARTMENT
This is the exit area of the shop. Invoices and goods are checked and verified. Its mandate is to
ensure that every stock is charged, correctly and with the correct quantity before leaving the shop.
They verify the work of till operators to minimise stock loss through wrong charging and
omissions. The despatch department is more of a control measure to reduce stock loss through
pilferage; this makes it a very crucial department in the organisation. I can safely describe them as
“the eye of the organisation.”
1.7 ORGANISATION’S BUSINESS, TARGET MARKET, COMPANY PERFOMANCE

ANALYSIS
NATURE OF THE BUSINESS
As defined by its logo, Metro Peech and Browne wholesalers is a profit-making organisation in the
wholesaling business. It is a member of the Zimbabwe Wholesalers Association (ZWA). It aims to
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be the best mediator between the manufacturers and the retailers by providing goods and services
at the best prices.
TARGET MARKET
The target market constitutes of retailers such as TM, OK, Spar shops etc. majority of the people
are now in the business world, various entrepreneurs, schools, hospitals, companies, general
dealers and kiosk owners are one of the target market. Individuals and social grocery clubs are also
a target market for Metro Peech and Browne Wholesalers since it also breaks bulk to capture the
niche market of individuals who do not buy in bulk.
Kwekwe is surrounded by numerous growth points such as Zhombe, Silobela just to mention a
few. Various stores in these areas are also a target market. Efforts have been made to market the
organisation to the potential customers.
COMPANY PERFORMANCE ANALYSIS
Metro Peech and Browne Wholesalers has managed to perform very well since its establishment,
this can be evidenced by the rate at which it has opened branches across the country, since 2011 up
to this year 2018 it has managed to open 14 outlets. The performance analysis that I managed to do
was for:
1. Market performance analysis

2. Sales performance analysis
1. Market performance analysis

Metro Peech and Browne Wholesalers has penetrated and gained a large part of market
share from other big competitors like OK Mart, N Richards, Gain, Simrac, and Indian
wholesalers. This has been done by providing best quality goods and services to its
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customers. Below is a list of strategies that are being implemented to remain the force in
the market:
 The wholesale has improved its product range on the Hardware, farming and home
appliance products comparing with the past services it used to provide to its customer.
 The prices are cheap and affordable.
 Providing good Customer care service
 It has gone to the extent of providing credit facilities to its trusted and loyal customers no
matter the size of the business.
 Metro Peech and Browne Wholesalers have increased its customer base by running
promotions throughout the year. Promotion such as Loyalty Points Reward Facility which
is a continuous promotion. A point is equivalent to a one dollar ($1.00), for every $1.00 a
customer spends there is a point to it and these points accumulate. A prize is redeemable
after reaching set minimum reward level of 15 000 points, they are giving away a car if a
customer reaches a maximum points of 700 000.They have seasonal promotions like Easter
Promotion, Winter Promotion and Summer Promotion(Christmas promotion and super
trader promotion). These promotions have made Metro Peech and Browne to have a
competitive advantage than other players in the same industry.
2. Sales performance analysis

There is a monthly sales budget for each branch and this has created competition amongst
branches. For if you meet the budget there are bonuses and the branch that does the best
receives incentives.
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CHAPTER 2
INDUSTRIAL ATTACHMENT ACTIVITIES
Before commencement of my duties the supervisor proposed that I should begin with less risky or
minor tasks, slowly changing to challenging work. In each respective area a senior personnel
would brief me how certain practices are done and then supervise work that l do after, so as to
ensure efficiency and effectiveness of the output. Time spent on each assignment is indicated in
brackets after task indication but for those without, were performed concurrently with others in
that office or upon request by any accounts section.
ACCOUNTS DEPARTMENT: CREDITORS’ AND ACCOUNTANTS’ OFFICE
DAILY ROUTINES
Templates in excel have been made to facilitate day to day recording and forecasting of the
business. We have the RBZ template were daily sales are declared and submitted to the head office
and RBZ as they are required. Stockholding and creditor template to know which supplier to pay
and how much stock we have per supplier. Bank balance and cash breakdown template to know
how sales were distributed.
INVOICE TRACKING
This is a control procedure to ensure that the receiving process in done properly. The receiving
department receives and enters the goods in the system. The tracking sheet contains signatories i.e.
receiving clerk, receiving supervisor, buyer, floor supervisor, creditors’ clerk and the manager. The
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good received voucher passes through the hands of each of the signatories before final filing in the
creditor’s office.
Responsibility of each signatory
Receiving clerk
Entering the goods into the system as per supplier invoice and raise a debit note if there are any
breakages, over-charge, over supply etc.
Receiving supervisor
Receiving the goods in good condition, correct quantity, and correct product description.
Buyer
Checks for pricing to ensure that the correct price is captured in the system
Floor supervisor
He signs to confirm that they were handed over the goods and took them into the sales floor for
storage.
Creditors’ clerk
Checks that all the proper documentation is attached to the goods received voucher, mainly the
supplier invoice which is needed for value added tax purposes
Manager
Just ensures that everything is done properly.
The invoice tracking segregated duties so that any mistakes done can be easily picked by any one
of the signatories
A complete goods received vouchers contains the manual goods received voucher, stock count
sheet(records the quantity of goods received), purchase order by the buying department, supplier
invoice and the computerised goods received voucher.it was my duty to ensure that all documents
are attached.
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I referred any disputes to the responsible signatory for corrections. The other main area of concern
was the value added tax of the goods received vouchers. VAT and invoice total of the supplier’s
invoice and Metro’s goods received voucher should tally. This is aimed to eliminate differences in
our VAT input report
FILING AND DOCUMENTATION
Proper filing and documentation is a very important aspect of accounting. Documents should
easily be retrieved for references and proof for auditing purposes. It was my duty to file the goods
received vouchers after invoice tracking.
The goods received vouchers are automatically numbered when they are entered into the system by
the receiving clerk. They are filed in the order in which they are entered in the system regardless of
ascending or descending order. For examples GRV 3040, GRV 3041, GRV3042, GRV3043, can
be filed either from 3040 to 3043 or 3043 to 3040. The documents needed to be filed in an
orderly manner
NB GRV stands for goods received voucher
PREPARATION OF THE VALUE ADDED TAX SCHEDULE
Value added tax is a very sensitive section of every business. Remissions have to be done monthly
to ZIMRA by every registered company in Zimbabwe. It was my duty to compile the VAT
schedule for each trading period and sent it to the head office. A trading period is a month long,
books are closed every month end. The schedule had to be sent to the head office before the 10 th of
every new period. Information from each branch is consolidated at the head office to determine the
amount to remit to ZIMRA (Zimbabwe Revenue Authority).
The process is done systematically using Fincon. The procedure is outlined below
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 Log into Fincon

 Select creditors then reports
 Select list of GRVs/ debit notes for the period
 Select the period concerned
 Click accept and it starts downloading
 Export it to Excel for editing
This report gives me the total vat input for that specific period. For verifications purposes, l
download the VAT input ledger so as to ensure that the vat input figures agree.
 Log into Fincon

 Select ledgers and type vat
 Select vat input and accept
 Download and export to excel
The same procedure is done to determine the vat output but selecting list of invoices/credit notes in
place of GRVs/ debit notes and selecting vat output in place of vat input.
If the figures do not agree, do a reconciliation to correct the differences.
Send the vat schedule to the head office for consolidation purposes.
COMPILING VAT FILE
The file constitutes of all invoices for a specific period. These invoices compliment the vat
schedule. Each invoice of the goods received vouchers listed in the vat input schedule should be in
the file. The file is a control procedure by the head office for any queries or audits that maybe
carried out by ZIMRA.
 Photocopy each invoice

 Attach the invoice photocopy to the goods received voucher
 File the original invoice copies alphabetically and also following the order of the
corresponding schedule.
 Print the schedule and include it in the file
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Note any missing invoices and list them to notify the head office
DEBTOR ANALYSIS AND FOLLOW UP
Credit facility is offered to few customers after evaluations of the customers’ business and their
ability to pay back debts and offer collateral security. It was my duty to monitor the debtor
accounts and chase for payments.
Terms of each account differed with the credit limit of each customer, the credit limits are listed
below
$5 000 and below 7days
Above $5 000 14days
Check the top 20 debtors and monitor their credit value
Making calls to the debtors to notify them of their account status and be advised when to expect
payments.
I realised the importance of working capital management. Most of the customers’ accounts were
always out of limit. The manager had to make personal visits to some of the debtors to come up
with payment plans. Due to the environment the facility was closed December 2017 year end
DEBTOR PAYMENTS
Source document
Receipt - A document showing customers payment.
It is the duty of the creditors’ clerk to receipt debtor payments. The payments may be in the form
of cash, RTGS or internal bank transfer.
RTGS payments & bank transfers are only processed in the system as and when they
appear on the bank statement.
The receipting is done as follows:

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 Log into Fincon

 Select debtors, choose debtor payments
 Enter the payment mode used either cash or bank transfer
 Enter the debtor’s account and then enter the amount paid
 Allocate the payment to the respective invoices being paid
 Accept and print 2 copies of the receipt
 One receipt is for the debtor, the other one is handed over to the cash-office as well as the
cash. Receipt is only surrendered to the cash office if a cash payment is used.
Every receipt should be endorsed with the organisation’s stamp and signed by the clerk before
being handed over to the debtor. This is a control measure put in place.
CREDITOR RECONCILIATIONS
Creditor reconciliation is one of the key responsibilities of a creditor’s clerk. It gives us a clear
picture of the creditors’ accounts. It also ensures that we agree with the supplier and to avoid over-
payments on our side. It was also my duty to ensure that all the supplier statements were available
at the end of every month. This is what I was doing when reconciling creditors using excel
 Print the Metro ledger of the supplier from the system

 Match the ledger and the supplier’s statement noting any differences
 Enter the reconciliation in the system using the formulated reconciliation template
 Noting all invoice differences, credit note/debit note not on supplier invoice or ledger,
payments not on supplier invoice or Metro ledger
 The reconciliation had to have a nil balance
This is a monthly exercise for each and every supplier. It is the company’s policy that all suppliers’
accounts have to be reconciled within two months.
Faced a challenge of slow or no response from some suppliers in terms of sending statements, had
to make constant follow ups to get the statement. Some small suppliers failed to provide us with a
statement which resulted in their accounts being not reconciled.
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CREDITOR AGE ANALYSIS AND CASH-OUT FLOW PLAN
This exercise is carried out weekly. Creditor age analysis involves downloading the creditor
balances from Fincon system. This report gives a clear picture of the credit age of each supplier
indicating the current balance, balance in 30 days, 90 days and 120 days. Terms of payment vary
from supplier to supplier. Some suppliers have to be paid on delivery (C.O.D- Cash on Delivery),
in 7days, 14days, 21days or 30 days. The report is downloaded as follows
 Log into Fincon

 Select creditors, then reports
 Select creditor balances owed and accept. The system starts to download
 Select print, then choose save as delimited file and accept
 The creditor age is exported to excel, from where we can print copies of the report.
We use the report as a guideline of which suppliers are overdue for payment. This avoids over-
looking at some of the suppliers who do not frequently call to remind about payment. We take note
of the suppliers and include them in the cash flow plan for that week.
CASHFLOW PLAN
The plan shows suppliers we intend to pay that week. We use the creditor age report to note the
suppliers due for payments. The cash flow plan is drafted as below
 Go through the creditor age report taking note of suppliers which are over-due(in 120days)
 Note the deal and head office payments done weekly
 Project sales for each week day
 Plan the payments to be paid each day using the daily projected sales
 A copy of the cash flow plan is attached, appendix 1
POSTING CREDITOR PAYMENTS AND PREPARING PAYMENT VOUCHERS
Creditor payments are mainly done through the banks, either internet banking or through RTGs.
Internet banking is mainly used and done by the branch accountant and manager only. These
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payments have to be posted into system, to respective creditors’ account. The system automatically
updates the creditor age thus effecting the payments by reducing the balances owed. The payments
are posted as follows:
 Log into Fincon

 Select ledger, choose enter bank transfer
 Enter the bank account making the payment. Each bank has its own bank reference number
i.e. CABS is 580400, FBC is 580100 and Barclays is 580200.
 Enter the account number of the supplier paid, for example KWE020 is the account for
Schweppes.
 Enter the amount paid and allocate to the respective invoices being paid.
 Once the amount is fully allocated, accept
Take note of the system payment references and write it down on the payment voucher.
Endorse stamp on the actual goods-received-vouchers to confirm that they have been paid.
File all the documents.
Noted the importance of proper document filing because the goods-received-vouchers had to be
endorsed with the paid-stamp and filled together with the proof of payment vouchers. These
documents will be needed for reference and as proof that the supplier was paid.
BANK RECONCILIATION
This is mainly done every end of week. Its purpose is to ensure that our system bank ledgers agree
with the bank statements. It helps to update our ledgers if any payments or receipts were not posted
into the system. The bank reconciliation is done as below:
 Log into internet banking and print the statement

 Print the ledger for the bank to be reconciled
 Check the bank statement and the system ledger noting any differences which need posting
into the system or verifying with the bank
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The actual reconciliation is done using the Fincon system. The process is systemised. Reconciling
all payments and receipts full fills the double entry system of accounting. For instance if a payment
is made, we debit the suppliers account by posting the payment to the supplier’s account. The
reconciliation process completes the double entry system by crediting the bank/cash account with
the same amount paid.
The organisation uses two banks for payments and receipts from customers. Payments or receipts
can be posted to the wrong bank account in our ledger; amendments have to correct wrong
postings.
NB: Bank reconciliation can only be done by the branch accountant’s password. I carried out the
task in his supervision due to the nature of the task. Any reconciled items cannot be reversed. This
demanded full concentration and carefulness. The other bank statements (Barclays) are collected
physically from the bank. The main bank (CABS) uses internet banking so the statement is
downloaded from the internet. The accountant and the manager are the only ones with the
password for internet banking, for security reasons.
PREPARATION OF THE MONTH-END PACK
This is the set of books of accounts for the branch; these include the trial balance, profit and loss
account and the balance sheet. It is the accountant’s duty to prepare the month-end pack. Most of
the work is done by the system; the accountant’s duty is to update the pack by exporting the
information from Fincon to the pack.
As mentioned earlier, Metro Peech is a private ltd company, hence most of its information
especially the financial performance is private and confidential. The accountant gave me an over-
view and a brief explanation of how the pack is prepared. a practical exercise was facilitated to me
by the accountant, were by he showed me how it is done.
I noted that the expenses of the branch such as staff transport, canteen cost, casual wages, cell
phone expenses, fuel, and stock-take expenses among others are budgeted by the head office. A
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budget is given to each branch and is expected to operate within the budgeted figures. This is
meant to control the expenditure of each branch.
CASH OFFICE- ONE MONTH
CASHING-UP TILL OPERATORS
It was my duty to cash up till operators as they finished work. The procedure was as follows
 Till operator counts money and surrenders to cashier

 Re-count the money and verbally confirm with the till operator if the totals agree Cashier
fills the cash-up sheet and sums up the money
 Till supervisor prints the till operator’s day end and hands it to the till operator
 Cashier gets the day-end report from the till operator and balances the cash received and
cash expected (as per day-end report). Any variances are reported to the accountant for
verification
 The till operator signs to confirm that they agree with the cash up outcome.
It is the duty of the cashier to check for fake notes before confirming with the till operator.
Currency such as Rand are rated so it is important for the till operator and cashier to use the current
rate, as this contributes to cash shorts or overages. As I carried out this duty, l noted that dealing
with money requires a lot of discipline both professionally and personally to avoid frauds and theft
which can ruin someone’s career.
BALANCING CASH
Cash for the day had to balance with the cash sales for the day. It is the responsibility of the cashier
to ensure that total cash at hand balances with the expected cash from the system, any variances
should have provable proof and explanation for example petty cash payments made daily reduce
the cash on hand. These cash payments should have vouchers which are authorised by the manager
and signed by the receiver for them to be valid evidence.
PAYMENTS
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It is the duty of the cashier to account for all petty cash payments made each trading day. Major
payments such as supplier payments are done through the bank, no supplier is paid in cash. These
payments include staff lunch costs, casual wages and transportation costs among others. The
procedure is as follows:
 Raise a petty cash voucher stating the date, the payee, amount to be paid and reason for
payment.
 Endorse cashier signature to show the person who prepared the voucher
 Seek for the manager’s signature which authorizes all petty cash payments
 Book the payment in the petty cash payment record book
 Seek for payee’s signature, Identity card number and cell phone number both on the
voucher and in the petty cash payment record book.
 Hand over the money to rightful person
POSTING PAYMENTS INTO THE SYSTEM
Every payment has to be posted into the system in its respective ledger account. The system
provides a reference number for that payment which is manually written to the respective voucher.
 Log into Fincon

 Select ledgers, choose enter bank transfer
 Type in the correct bank ledger account 585000- cash on hand account
 Type in details of payment- for example casuals offloading rice, take note of the payment
reference number and write it on the voucher being posted
 Type the correct ledger account, like 261500 is a ledger account for staff- casual wages
 Enter the amount paid
NB: Once one accepts, amendments have to be done by the accountant’s password only. Hence
one has to be very careful and sure of the ledger accounts the payments are being posted into.
BANKING
It is the cashier’s duty to bank the cash for the previous trading day into the respective bank
accounts. Rand and USA dollar are deposited into separate accounts, rand is deposited into
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Barclays and USA dollar into CABS account. It is very important to deposit the money in time so
that suppliers are paid on time.
BUYING DEPARTMENT-TWO WEEKS
MAKING PURCHASE ORDERS
Buyers are responsible for sourcing suppliers. Once a supplier has been sourced, purchase orders
have to be done. A purchase order tells a supplier exactly what the buyer needs, including the
amount the company has approved to pay. The purchase order in done as follows:
 Log into Fincon

 Select orders, choose enter purchase order
 Enter the supplier account number, confirm if the correct supplier account reflects
 Enter the system code for each product to be ordered
 Accept and print the purchase order
It is of importance to be quite sure of the products needed so as to avoid making orders for
products that are not good for the market. The stock level report is a very important weapon used
to determine the fast moving products which have a great market share, which need to be readily
available at all time.
STOCK-AGE ANALYSIS
Stock age analysis is done systematically. The stock age analysis report is downloaded from the
system. The report is used to determine the fast and slow moving products, and also the age of
each product including the total purchases and sales per period. The stock age report is
downloaded as follows:
 Log into Fincon

 Select inventory, choose sales information export, then purchase & stock level report
 Wait for downloading to end
 Export to excel and edit
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Product aging assists the buyers in making decisions such as making returns of the slow moving
products or near-to-expiring goods, making mark-downs to increase sales of the slow moving
products or transferring some of the old products to other branches in which their demand is high.
Appendix 2 is a copy of the stock-age-analysis report.
PRICE COMPARISON
This exercise involves visiting our competitors’ shops and checking their prices on major lines of
products. Our competitors include N Richards Wholesalers and O.K Mart, among other various
small competitors. Due to competition, it is important for buyers to keep track of competitors’
activities which are aimed at gaining the market. Necessary changes can be done like reducing
prices on products which are more expensive than our competitors and introducing weekend
specials among other actions to gain the market.
MONITORING THE GROSS PROFIT OF EACH PRODUCT
The above mentioned stock-age analysis report also provides information of the gross profit
contribution of each product. This guides the buyers on the various decisions which they can make
mainly price reduction to encounter competition. The aim is gaining the market but bearing in
mind that the business has to be profitable.
From the above outline, l can safely deduce that buyers have a huge contribution in the gross profit
of the branch. They can determine the selling price of products and make adjustments were
necessary. This gives the buyers the responsibility of making sure that each product being sold has
a positive contribution towards the gross profit of the branch.
RECEIVING DEPARTMENT- TWO WEEKS
SOURCE DOCUMENTS
Below is the list of source documents used in the receiving department:
 Invoice
 Debit note book
 Goods received vouchers
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RECEIVING GOODS PHYSICALY
When deliveries of goods are made, the goods have to be received. This process is done by
physically counting and checking the goods before entering them into the system. The process was
done as follows:
 Get the supplier invoice from the transporter and confirm with the buyer if the delivery is
expected
 Pull out the corresponding purchase order done for the goods
 Offload the goods from the transporter, with the help of receiving assistance
 Physically counting the goods as they are offloaded so that the quantities match the invoice
 Check for product description and packaging. These should match with the purchase order
because the goods should be delivered as per purchase order to avoid over supplies and
product- dumping by the supplier.
 Check for the expiring dates and product condition , putting aside damaged, over-supplied
and not ordered goods
It is very important to receive goods that are included in the purchase order. Supplier can dump
products which are not selling so as to maximise their sales. Close attention has to be given to the
purchase order, supplier invoice and the actual goods delivered. Any differences between the
purchase order and the invoice should be communicated to the buyer and be given a solution.
RECEIVING GOODS INTO THE SYSTEM
This is done after the physical receiving of the goods, which is mainly done by the receiving
supervisor. The receiving clerk is responsible for entering the goods into the system, carried out
this task in his supervision. The process is done as below:
 Log into Fincon

 Select creditors, then choose goods received voucher
 Enter supplier account number. Verify the account number to ensure that the goods are
received in the correct account
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 Enter the system codes which represent each product received. Search for the codes in the
system if not sure to avoid receiving goods using wrong codes. Any new lines are reported
to the buyer and product codes are created for them.
 Verify the prices in the system because the goods received voucher total should tally with
the supplier invoice total.
 Print the goods received voucher and attach the supplier invoice
This is the most important part of the receiving department. Entering wrong information into the
system can affect the stock-taking of the branch and also if products are wrongly received it can be
very hard to charge them at the till points. Close attention also needs to be paid to the value added
tax of each invoice. The value added tax of the supplier invoice and the goods received voucher
should tally to avoid distorting the value added tax input.
RAISING A DEBIT NOTE
It is not always the case that goods received are all in good condition. Suppliers can over-supply,
dump slow moving products or the products may not be properly packaged or the products have a
short life span (the expiring date is near), hence a debit note has to be raised to reduce the credit
owed. The procedure is as follows:
 Manually record the breakages or returns in the debit note book

 Transporter has to sign including name, identity card number, vehicle registration number
to confirm the debit note and for future referencing. Give supplier’s copy to the transporter
 Log into Fincon
 Select creditors, choose debit notes
 Enter supplier account number
 Enter the goods which are being debited into the system, using the product codes
 Type the reason for the debit note
 Accept and print the debit note. Attach it to the manual debit note and the goods received
voucher
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It is very important to ensure that the system debit note matches the manual debit note in terms of
the products and quantity being debited.
It is important for all documents to be attached together before the goods received voucher is sent
for invoice tracking as outlined earlier. The buyer has to confirm the prices before the goods are
sent into the sales floor.
DESPATCH DEPARTMENT – ONE WEEK
MATCHING TAX INVOICE AND ACTUAL GOODS
It is the responsibility of door checkers to check and verify each invoice before it leaves the shop
the shop premises.
 Check the goods on the trolley and match with the actual goods on the customer’s trolley
 Take note of any omissions or over-charges on the customer’s invoice
 Check any products which are wrongly charged. For example charging lux bath soap using
geisha bath soap.
 Any mistakes have to be reversed by the accountant by passing a credit note. If over-
charged the customer is refunded his/her money, if a wrong code is used, the goods are re-
charged correctly.
This department is a control measure to guard stock from pilferage or mistakes by till operators
while charging goods.
INVENTORY MANAGEMENT
STOCK TAKE
Metro Peech and Browne wholesalers as an organisation take stock-taking very seriously. Stock
taking is an inventory control process which reflects the business’ ability to manage stock, which
ultimately contributes to the profitability of the organisation. Stock taking is a quarterly exercise to
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all Metro branches. Stock taking involves physically counting the stock on hand and recording it.
Carried out the following duties during stock taking
 Physically counting stock and recording it on the stock count sheet

 Issuing stock count sheets and booking them into the system. This helped to keep track of
the issued and unissued stock count sheets
 Matching first count and second count sheets for the same count bin
 Verifying stock which does not tally on the first and second count sheet.
The floor supervisors were responsible for stock preparation. This involved ensuring that products
are neatly merchandised in a way that is easy to count, grouping same products together to avoid
leaving out some during counting, ensuring that each product has a product code which is well
positioned, eliminating breakages from the shelves and ensuring that they are repacked or written
off if no longer sellable to avoid over-stating the stock.
CHAPTER 3
LINKING THEORY WITH PRACTICE
3.1 DISCUSSION OF EXPERIENCE AND KNOWLEDGE GAINED
Work Related Learning or Industrial Attachment is mainly done for students to appreciate and
acquire skills in linking the theory learnt at university and the real world of work. Harmonizing
theory to practice has been a major challenge; however I managed to identify the importance and
application of the following courses which were offered during first and second year of the degree
programme.
VALUE ADDED TAX
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I gained a better understanding about value added tax as I carried out the duties of compiling the
VAT returns schedule. As learnt in theory in the Tax Law and Practice course (CUAC 212), in line
with the Value Added Tax Act, trading is another important definition as it determines whether or
not a person should be registered for VAT purposes.
The following requirements must be met for one to be deemed to be carrying on trade:
 The activities must be carried on continuously or regularly.
 The business activities must be carried on in Zimbabwe or partly in Zimbabwe
 The goods or services must be supplied to another person for a consideration
Metro Peech and Browne fulfils all the requirements above, hence it has to comply with the Value
Added Tax Act. Remissions or refunds from ZIMRA (Zimbabwe Revenue Authority) are done at
the head office, branches only provide information on totals of vat input and output. Hence theory
is agreeing with practice and adaptable.
However, due to the economic challenges and uncertainties that the country is currently facing,
the Value Added Tax acts have to suite the trading environment therefore constant alterations have
to be done by the regulators for the act to be applicable and acceptable.
COMMUNICATION SKILLS
Communication is a very important aspect of every business. Communication defines the

relationship of an organisation with its inside and outside environment. Appreciated the theory
gained from this cause as it is very applicable, adaptable and acceptable in the business
environment. Good communication skills were required from me as l had to communicate with
suppliers and debtor in the course of carrying out my duties. Good communication is also a great
contributor to good relations with fellow workmates and superiors. My communication as an
individual was greatly improved due the exposure l got from the organisation. Basic
communication skills do not constantly change hence its theory is up to date.
AUDITING, ACCOUNTING INFORMATION SYSTEMS
Theory acquired from the course came out handy as auditing is very important in a business
environment to ensure that operations are done properly and as prescribed. Theory emphasises on
internal control systems to be implemented in an organisation. Internal control systems were
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available in various departments of the organisation. I can make reference to invoice tracking,
segregation of duties, stock taking and the despatch department as some of the control systems
which have been put in place by the organisation. External auditors audit the operations of the
various branches annually and pass a report. Though the audit process is quite an expense to the
organisation, the exercise is still carried out. Theory clearly agrees with practice. I noted that
applicability and acceptability of the auditing theory depends on the organisation’s business and
operations.
COSTING AND MANAGEMENT ACCOUNTING
This is one of the key courses to my degree. This course dealt with all issues relating to costing
and cost controls, budgeting and budgetary control including variance analysis amongst many
others. I had the privilege to carry out some of the duties associated with the theory learnt. These
include costing products in the buying department. Never got the chance to do the budgets as they
are set by the head office but the branch accountant had the duty to ensure that the branch stayed in
line with the budgets. This supports my observation that theory is agreeing with practice. Costing
strategies taught in theory may not be applicable and acceptable in other organisations as operating
environments may differ. Like in the case of Metro Peech, its environment is full of competition
hence buyers’ costing will be based on competitors ignoring theory.
ACCOUNTING INFORMATION SYSTEMS
The knowledge acquired from the mentioned course helped me in assessing the flow of
information in the organisation. Most information in organisations is processed by the
technological systems like the use of accounting packages such as Pastel, hence less paper work.
Metro Peech as an organisation uses the Fincon accounting package. It is quite a good package
which is user friendly. Managed to appreciate the procurement cycle which is followed by the
organisation. This supports that theory is up-to-date and applicable to some extent. The
procurement cycle is attached as learnt from the course. As illustrated by the attachment activities,
a compliance to the cycle is evitable.
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Purchase Order Purchasing

1 2
PROCUREMENT CYCLE
(SUBSYSTEM)
Receiving/
Cash Disbursements Inspection
3
5
Accounts Payable
4
INFORMATION TECHNOLOGY AND PRACTICE
In the world of technology, this course holds great weight. As students we need to be computer-
literate. Most of the work in the accounts department in the organisation is done using the system.
Theoretical knowledge acquired was of great help in carrying out the tasks, as this was a starting
point. The levels of technology of an organisation vary but the basic knowledge provided was
quite useful.
However, technology is advancing so the theory learnt can be inapplicable when an organisation is
joined at a later date. Hence theory about information technology has to be kept updated to suite
the technological developments.
Financial Accounting
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As one of the core courses, after whom my degree is named, this has been the major contributor of
the theory I learned at school. The wide coverage of financial accounting has seen me applying it
to almost every section I went to.
In the Accounts Receivables section, where I began my attachment in, I have seen need for
application of the basic Principle of Double Entry when treating transactions. Though this was
done systematically by the accounting system, every transaction posted into the system did have a
double effect of which you were supposed to ascertain, for example when posting payments you
were supposed to make sure that your entered transaction data had credited Metro Peech (giver)
and debited the customer (the receiver). I was able to carry out reconciliations which were taught
in theory.
In contribution to maintenance of Accuracy and Completeness of accounts so as to enable Fair

Presentation of financial statements, I had to avoid errors in data entry, especially those we learnt
that are not detected by the Trial Balance like errors of original entry, omission, commission, and
complete reversal errors amongst others. This qualifies the theory to be agreeing with theory,
applicable, adaptable and acceptable. Accounting concepts do not rapidly change hence theory is
up to date.
CORPORATE FINANCE
THE CASH CONVERSION CYCLE
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Above is the cash conversion cycle (CFA Institute, chapter 8 Working Capital Management,
2013), which theoretically illustrates how an organisation’s finance has to flow. Organisations
should be able to balance the creditors and debtors. This ensures that money circulates well in the
organisation. An organisation should have working capital management strategies put in place.
The organisation tries its best to manage its working capital by debtor and creditor analysis which
is done regularly.
However, challenges have been faced to balance the debtors and creditors, due to the inability of
debtors to pay their accounts on time. It makes it very hard for the suppliers to be paid; hence the
conversion cycle is interrupted. Theory is up to date, applicable and acceptable but very hard to be
followed due to the environment in which the business is operating.
MANAGEMENT OF BUSINESS, CORPORATE GOVERNANCE
Although I worked as a subordinate during my attachment period, I realised that management at

Metro Peech and Browne wholesalers Kwekwe is performing the managerial functions of
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management as recommended by theory. Some of the functions include planning, leading,

organising and controlling among others. Building team work in order to achieve the
organisation’s objectives is a goal with great importance to the management. The Management
Committee sits on weekly basis to review targets and formulate ways to achieve organisational
goals. Targets such as sales are set by the head office and then communicated to various branches.
I observed that the democratic leadership style is used as the staff is allowed to share its views and
possible solutions to problems at a staff weekly meeting held every Monday morning.
Theoretically, democratic leadership promotes unity and oneness in an organisation. Theory is
agreeing with practice.
CHAPTER 4
CONCLUSIONS AND RECOMMENDATIONS
4.1 Challenges Faced During Attachment
Challenges are unavoidable in every working environment as we have to deal with people with
different attitudes and mind-set. Some of the notable challenges the student faced during the
attachment programme are explained below.
CONFLICT
In as much as the student desired to avoid it, conflict was inevitable. It was largely birthed out of
ideas being at variance between individuals who included customers. Sometimes conflict arose
with customers because of issues such as delays in payments. However, the student is glad to say
that there was no conflict that degenerated out of hand. Every effort was made to resolve conflict
with clients and co-workers as amicably as possible. With the help of my Communication Skills
background it was easy to deal with most of the conflicts which arose.
ASSUMED KNOWLEDGE
This applies to those situations where the student was given insufficient information when there
was need to perform a particular task. The insufficient information was as a result of the individual
assigning a duty to me assuming that student knew the information pertaining to that task because
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the student was a university student, hence they know it all.. Initially, l was not familiar to the
Fincon system and a task which required the use of the system would be assigned. Superiors
assumed that l knew how to go about the task. It was however up to me to seek clarity on the
issues which were not well said and in almost all the cases the perceived problem was amicably
solved.
SOURCING INFORMATION
Having access to the information of the organisation was a great challenge. The organisation being
a private ltd and a family owned, information is confidential and not to be published. As students,
we are not considered as part of the organisation; hence some information is not given to us. It was
not easy for the branch management to disclose much information. However they did their best to
provide me with some of the information which was very handy in the preparation of my report.
RECOMMENDATIONS TO THE COMPANY
IMPLEMENTATION OF STOCK MANAGEMENT SYSTEMS
Stock losses by the branch were a great concern to me and the management of the branch. This
greatly affected the profitability and performance of the branch. The student suggests that the
organisation implements best stock management systems. The branch does not have a warehouse
were products can be neatly and safely stored. Construction of a store room will reduce breakages
as goods will be packed freely and neatly. This can have a very positive effect on the branch’s
stock management.
JOB ENRICHMENT
The student suggest that, from time to time, job evaluations should be done to identify how the
employees duties can be further enhanced to provide more satisfaction when performing tasks and
to ensure that employees are retained at the company. Employee working moral can be improved if
one is satisfied and feels that they are doing their best in an organisation.
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WELFARE OF LOWER LEVEL EMPLOYEES
Employee welfare is one of the core values of Metro Peech but less effort has been done to fulfil it.
I noticed that lower level employees always came to the accountant seeking for financial assistance
soon after the pay day. This indicated that their salaries were failing to sustain them. Hence the
organisation has to consider increasing staff salaries as a motivator to their employees.
Considerations for providing medical aid services for the employees would improve the welfare of
their employees.
TECHNOLOGICAL UPDATES
In the world of changing technology, the organisation should aim to improve and update the
systems and packages used. Better and efficient technologies are being introduced; each package
comes with a new way of making work easier and performs work faster than earlier versions. I was
advised that the organisation has been using Fincon accounting package for the past 5years. Hence
upgrades of the system would improve the organisation’s operations as better packages are being
introduced.
DECISION MAKING
Wholesaling business is now full of competition. Buyers have to seek permission from the head
office to be able to source a new product from a new supplier. The organisation should de-
centralise decision making which is influenced by customer needs and operating environment.
Management on the ground should be able to make decisions which are beneficial to the business
without necessarily waiting for approval from the head office. The business environment now
needs organisations which are quick to make decisions and enter the available niche markets to
survive.
RECOMMENDATIONS TO THE UNIVERSITY

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OFFER MORE OF PRACTICAL LESSONS

I encourage the university to offer more of practical lessons than theory. Courses that deal with
technology such as Information Technology and Practice and Accounting Information Systems
should focus much on the practical aspect. This equips the students for industrial attachment.
Organisations use accounting packages, this was only learnt in theory but never got the chance to
cover the practical aspect. Familiarising with these packages will make life easy for the students
when we go on industrial attachment.
COMMUNICATION
The method of information dissemination being currently employed by the university is not too
favourable. Students on attachment need to be abreast with activities that directly affect them, for
example the due dates of attachment reports. We had to rely on grapevine especially about the due
dates of the report and deadlines for fees payment. The university should try to use the students’
portal to inform students on attachment. If possible the university should communicate at least a
week earlier about their assessment visits. This enables our immediate work supervisors to be able
to arrange their diaries and accommodate our university supervisors without disturbing any of their
work plans.
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CONCLUSION
The attachment program afforded the author exposure to professionalism and a platform to
exercise theory into practice. This enabled the author to fully comprehend the working
environment aspect so much that he has been equipped with the expertise of handling corporate
activities and prioritizing duties. The training was so hands-on oriented thereby enabling her to be
productive and think on a wider dimension.
Industrial attachment is vital in the development of undergraduates as it gives students maximum

exposure and opportunity in their areas of study. Owing to the complex nature of the real financial
situation in Zimbabwe, the learning process available at the university can never adequately cover
all the aspects of the real situation on the ground in the industry. In this regard, the student is
convinced that the industrial attachment process should be taken with all seriousness on the part of
the students and with all co-operations on the part of the employers.
However, the author hastens to highlight that the university education is a necessary foundation for
students to appreciate what goes on in the market. Some students would not have made up their
minds about committing themselves to certain careers. In this regard, the attachment plays a
defining role to them because it directs the student to his/her desired career destination through
interacting with other professionals in their chosen path of careers, because of their interactions
and experiences during attachment, the students are better informed to make gainful decisions
about their careers.
It is the author’s wishes that both the university and the company will consider the conclusions and
recommendation for the future graduates.
The author also wishes to express deep gratitude to both Metro Peech and Browne Wholesalers
and University of Zimbabwe, for the exposure and precious opportunity she had during her
industrial attachment. The industrial attachment enabled the author to develop both professionally
and socially.
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APPENDICIES
REFERENCES
1. Metro Peech and Browne Wholesaler’s sales analysis report
2. Metro Peech and Browne Wholesaler’s creditor age report
3. Metro Peech and Browne month-end pack
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CHIKAFU CHAKANAKA

Name Josphat Nyasha

Student number N01522673Q

Department Banking Inv Mgt

I forward special mention to Mr. M Chipunza (KweKwe branch Manager), Mr. C

In conclusion, this was an opportunity to develop and enhance skills and

Contents Page No.

Key: Direction to Metro Peech Metro Peech

KweKwe CBD Roundabout

KweKwe CBD TM Transport

1.3 VISION, MISSION STATEMENT, AND CORE VALUES

To become one of Zimbabwe’s principal food trader, processor and wholesaler.

Provide the best service to our valued customers

An organisational value is “a belief that a specific mode of conduct is preferable to an opposite or

1.4 OBJECTIVES OF METRO PEECH AND BROWNE WHOLESALERS

 to meet the demands and needs of their customers

1.5 ORGANISATIONAL STRUCTURE

Directors of Metro Peech and Browne Wholesaler

Key managers at the head office include the following:

a) Tracy Webb - Finance and Accounts

ORGANISATIONAL STRUCTURE OF METRO PEECH AND BROWNE KWEKWE

Creditors Clerk Receiving

Merchandisers / Door Checkers

1.6 BRIEF DESRIPTION OF DEPARTMENTS

Metro money centre

1.7 ORGANISATION’S BUSINESS, TARGET MARKET, COMPANY PERFOMANCE

NATURE OF THE BUSINESS

COMPANY PERFORMANCE ANALYSIS

1. Market performance analysis

1. Market performance analysis

2. Sales performance analysis

INDUSTRIAL ATTACHMENT ACTIVITIES

ACCOUNTS DEPARTMENT: CREDITORS’ AND ACCOUNTANTS’ OFFICE

Responsibility of each signatory

Just ensures that everything is done properly.

FILING AND DOCUMENTATION

NB GRV stands for goods received voucher

PREPARATION OF THE VALUE ADDED TAX SCHEDULE

 Log into Fincon

 Log into Fincon

If the figures do not agree, do a reconciliation to correct the differences.

COMPILING VAT FILE

 Photocopy each invoice

DEBTOR ANALYSIS AND FOLLOW UP

$5 000 and below 7days

Above $5 000 14days

Check the top 20 debtors and monitor their credit value

Receipt - A document showing customers payment.

The receipting is done as follows:

 Log into Fincon

 Print the Metro ledger of the supplier from the system

CREDITOR AGE ANALYSIS AND CASH-OUT FLOW PLAN

 Log into Fincon

POSTING CREDITOR PAYMENTS AND PREPARING PAYMENT VOUCHERS

 Log into Fincon

File all the documents.

 Log into internet banking and print the statement

PREPARATION OF THE MONTH-END PACK

CASH OFFICE- ONE MONTH

CASHING-UP TILL OPERATORS

 Till operator counts money and surrenders to cashier

POSTING PAYMENTS INTO THE SYSTEM

 Log into Fincon