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  • Finance Learning Report

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    The weekly report provides an overview of basic finance functions and processes at Energia including sales, procurement, vendor reconciliation, major customers, suppliers, and local purchase processes. It describes learning sales procedures such as purchase orders, sales orders, delivery challans, and invoices. Vendor reconciliation involves verifying payments, invoices, and adjustments. The report also lists major customers and suppliers categorized by products. It outlines the local purchase process including raising purchase orders, receiving deliveries, and booking goods. Processes for petty cash withdrawals, payment vouchers, and scrutiny of vendor bills are also summarized.

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    The weekly report provides an overview of basic finance functions and processes at Energia including sales, procurement, vendor reconciliation, major customers, suppliers, and local purchase processes. It describes learning sales procedures such as purchase orders, sales orders, delivery challans, and invoices. Vendor reconciliation involves verifying payments, invoices, and adjustments. The report also lists major customers and suppliers categorized by products. It outlines the local purchase process including raising purchase orders, receiving deliveries, and booking goods. Processes for petty cash withdrawals, payment vouchers, and scrutiny of vendor bills are also summarized.

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    4 views2 pages

    Finance Learning Report

    Uploaded by

    usmanshariq7876
    The weekly report provides an overview of basic finance functions and processes at Energia including sales, procurement, vendor reconciliation, major customers, suppliers, and local purchase processes. It describes learning sales procedures such as purchase orders, sales orders, delivery challans, and invoices. Vendor reconciliation involves verifying payments, invoices, and adjustments. The report also lists major customers and suppliers categorized by products. It outlines the local purchase process including raising purchase orders, receiving deliveries, and booking goods. Processes for petty cash withdrawals, payment vouchers, and scrutiny of vendor bills are also summarized.

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    WEEKLY REPORT FINANCE

    WEEK 1:
    Introduction of Basic Finance Functions

    1) Learning of Sales Procedure:


     PO from customers
     SO with approvals
     Delivery Challan
     Preparation of Invoices
    2) Learning of procurement procedure
     Verification of inventory account and supplier account
     Verification of Energia vs. vendor account

    Vendor Reconciliation

    Vendor reconciliation is a process that will involve identifying all the discrepancies between vendor
    invoices and your actual payments. It is a matching activity in which we compare vendor documents
    from different stages for example:

     Verification of payments of supplier


     Verification of supplier invoices
     Verifications of adjustments if any

    Big Customers

     Tandlianwala Sugar Mills


     Daewoo
     CHENAB Engineering
     Wardaq and Co.

    Suppliers by category

     Lubricants and others

    Orient Oils, lubricator, Union crystal chemical

     Packaging

    CBM, Synergy

     Labels

    Akmal Printers, Faisal Enterprises


     Cartons

    M & F and Grace Packages

    WEEK 2:
    Local Purchase process

    How to raise PO against supplier quotation?

     Before issuing purchase order against supplier quotation we require at least 3 different suppliers
     After vendor selection we raised PO
     We receive delivery challan with product from supplier
     On the basis of PO and delivery challan of supplier we record GRN(goods receiving note)
     After raising of GRN purchase have been booked in our books

    Petty Cash process

     25,000 is withdrawn for office use


     Cash payment vouchers against all expenses
     Should be signed by CFO,CEO
     Attach the petty cash ledger with cash payment vouchers

    Scrutiny of Vendor Bills

    Following are the steps to verify bills:

    1. Date
    2. Bill No
    3. Reference docs such as Energia PO
    4. Rate
    5. Quantity
    6. Taxes
    7. Total amount of bill

    We enter bill into ERP after complete verification and match with ERP Ledger and ERP reports.

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