RECEIPT PROCESS

 We only receive payments against services through our API integrated payment gateways and
banking channels. Only on emergency cases, we accept cash payments which are immediately
deposited into our bank accounts.
B2B

 For B2B agencies, we have an online panel set up where the agencies can top-up against their
own unique IDs created. Most of the top-ups are executed through API integrated payment
gateways and fund transfers through banking channels. For API integrated payments through app
and panel the payments are accepted automatically and the individual agency’s ID topped up.
For Bank Transfers and cash TOP-UPs

 In such cases, B2B agencies are required to create a MANUAL PAYMENT REQUEST,
following the execution of the bank transfer, by providing all the relevant details of the transfer.
B2B agencies usually opt for the bank transfer as payment through API includes a payment
charge.
 The Accounts department then checks with the i-banking portal of the relevant bank to see if the
payment has been credited.
 Upon confirmation, the Accounts department accepts the manual payment request and the amount
is added to the agency’s panel balance.
B2C

 For online B2C, a majority of the payments are executed through API integrated payment
gateways and fund transfers through banking channels. For API integrated payments through app
and website the payments are accepted automatically and the ticket subsequently issued. For off-
line B2E and other referenced B2C clients we acknowledge receipts through bank transfers as
well.

For Bank Transfers and cash payments

 In such cases, the relevant sales department communicates the transfer with the Accounts
department.
 The Accounts department then checks with the i-banking portal of the relevant bank to see if the
payment has been credited.
 Upon confirmation, the Accounts department informs the relevant sales department that the
payment has been received and asks for details of the related services.
 The related invoice is then settled against the payment and the updated invoice and a system
generated money receipt is shared with the client.

PAYMENT PROCESS

 Only a few assigned individuals have the authority to queue potential disbursements.
 Upon confirmation from the concerned department for disbursement and subsequent approval
from relevant designation, payment is processed for disbursement by the accounts department.
 Upon reconciliation of the service rendered between the internal system and the invoice raised by
the supplier and completion of relevant documentation, the authorized individual queues the
payment for disbursement.
 Then communicates the Head of Finance for approval.

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 Upon approval from the Head of Finance the approval process shifts to the CEO for final
approval.

REFUND PROCESS
1. Once the refund against a particular ticket is processed by Flight Team on our system,
FOR GDS REFUND

IATA

 Accounts department collates the refunded tickets issued from our IATA ID and reconciles
with our system.
 Upon receipt of fortnight statement from IATA, the Accounts Department reconcile the
refund tickets with the statement.
 Once the Accounts department receives the refund it is processed based on the customer’s
payment modality.
EXTERNAL SUPPLIERS

 Accounts department collates the refunded tickets issued from external suppliers and
subsequently communicates the tickets with suppliers to ensure swift settlement of the refund.
 Upon receipt of fortnight statement from the external suppliers, the Accounts Department
reconcile the refund tickets with the statement.
 Once the Accounts department receives the refund it is processed based on the customer’s
payment modality.

NON-GDS REFUND

 As refund is processed instantly for Non-GDS issues, the Accounts department checks the
refund received by reviewing the Non-GDS airline refund portal, reconciles with the internal
system and processes the refund based on the customer’s payment modality.
Payment Modality:

1. PAYMENT GATEWAY
2. BANK TRANSFERS
3. CASH PAYMENTS (rare)

 For payment gateway refunds, upon reconciling with the IATA and/or External supplier
statement, the Accounts Department forward the refund requests to the particular bank and
then the refund is executed by the bank and settled with the card used by the customer to
make the purchase. This requires a lead time from the bank’s end for processing. As a result,
we communicate with the customer that the refund amount would be settled within 16-20
bank working days.

 For bank and cash receipt refunds, we obtain the account details from the respective
customer. And follow the payment procedure to disburse the refund to the customer’s desired
bank account. This process usually takes 2-3 bank working days.

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 REPORTING

Reporting flowchart is as follows:

Financial Statements (Statement of Comprehensive Income, Statement of Affairs and Statement of

Cash Flow) are reported to the investors on a monthly basis. Management reports reported to the CEO
and Chairman and Head of Accounts on a daily basis.
INTERNAL AUDIT REVIEW
We have an internal audit department consisting of three individuals. The review is performed on a
quarterly basis. The department is responsible for evaluating and improving on the effectiveness of
governance, control processes, all categories of risk, their management, including reporting on them.
The internal audit department reports to the Chairman of the Company to ensure independent
reporting.
EXTERNAL AUDIT REVIEW

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During year-end preparation of accounts, an external audit is conducted to ensure an independent
review and opinion on the true and fair view of the financial statements.

MAJOR SUPPLIER PAYMENTS:

Our Major Suppliers would include:

1. INTERNATIONAL AIR TRANSPORT ASSOCIATION (IATA)

2. HAJEE AIR TRAVELS LTD.
3. EAST WEST TRAVELS & TOURS PVT. LTD.
4. NOVOAIR LTD.
5. SUNSHINE EXPRESS TRAVEL INC.

MAJOR CUSTOMERS INCLUDE:

Our Major Customers Include:

1. ASEEL TRAVELS & CARGO

2. TANJIL AIR SERVICES LTD.
3. COCA COLA BANGLADESH LTD.
4. MASTERMIND TOURS & TRAVELS.
5. MARKS & SPENCER- BANGLADESH SOURCING OFFICE (BD-SO)