BISHOP COTTON WOMEN’S CHRISTIAN COLLEGE

#19, 3rd Cross, C.S.I. Compound, Mission Road, Bangalore - 560027

INTERNSHIP REPORT

Undertaken at

DEEPAM SILKS AND SAREES PVT. LTD.

Submitted in partial fulfilment of the requirements for the award of the degree
of Bachelor of Commerce

Under the Guidance of

Asst. Prof. POWLIN SHAYA RANI

Submitted by

CHAITHRA.M
III BCOM ‘B’
Reg No: C192242
Batch 2019 - 2022
 BISHOP COTTON WOMEN’S CHRISTIAN COLLEGE
#19, 3rd Cross, C.S.I. Compound, Mission Road, Bangalore – 560027

DECLARATION

Certified that this internship report submitted in partial fulfilment for the award of B. Com

Degree at Bishop Cotton Women’s Christian College was carried out by CHAITHRA.M

under the guidance of ASST.PROF.POWLIN SHAYA RANI. This report has not been

submitted to any other University or Institution for the award of any

Degree/Diploma/Certificate.

Guide Head of the Department

 CERTIFICATE

This is to certify that CHAITHRA.M, a student of Bachelor of Commerce of

Batch 2019 - 2022, Bishop Cotton Women’s Christian College, Bangalore bearing Reg

No.C1922420 has undertaken the Internship at DEEPAM SILKS AND SAREES PVT

LTD between 1st June, 2022 to 31st June, 2022 under my supervision & guidance. She has

conducted a study & completed the internship successfully.

Official Seal & Signature Signature of the Guide

 ACKNOWLEDGEMENT

I take immense pleasure in thanking Prof. Mrs. Revina Rebecca, Principal and Prof.
Prathibha David , HOD, Bishop Cotton Women’s Christian College for having permitted
me to carry out this project. I wish to express my deep sense of gratitude to my Mentor, Mrs.
Powlin Shaya Rani MCOM, M. Phil, for her able guidance and useful suggestions, which
helped me in completing the report on time.
I would also like to thank the staff of DEEPAM SILKS AND SAREES PVT.LTD. for their
valuable assistance in the conduct of the internship programme.
Finally, I wish to avail myself of this opportunity to express a sense of gratitude and love to
my friends and beloved parents for their manual support, strength, and help and for
everything.

Place: BANGALORE
Date: 4th August, 2022
 ORGANIZATIONAL PROFILE

NAME OF THE ORGANIZATION- DEEPAM SILKS AND SAREES RETAIL PVT.

LTD

Founded in the year 1972.

49 glorious years in the silk industry, stunning designer saree, and elegant lehengas from rich
traditional weaves to chic contemporary styles, Deepams range of formal ethinc wear has
something for everyone in the family. From kanjeevaram, patola and PAITHANI silks to
tussar, chiffon and crepes, our collection spans the length and breath of India. Embellished
with exquisite zardozi, chikankari or crystals, salwar kameez, ghagra-choli and bridal wear
for women.
The address, the décor, the vast opulent showroom, the spirited service staff, and above all
the greatest assortment of sarees to suit all kinds of tastes, designs and budgets – all these
have transformed Deepam over the years into Bangalore’s iconic saree retailer, with a 47 year
legacy of making celebrations truly memorable. The brand has become synonymous with
innovation with new designs, patterns, fabrics and styles being introduced regularly to its
stock. Deepam also has become iconic in handlooms, having more than 400 looms and 1000
master weavers creating sarees that are unique and one-of-a-kind in Kanjeevaram and other
southern weaving centres. Each festival time, Deepam brings out more than 1000 new
designs to add grandeur to the occasion for shoppers. It’s a tribute to the Deepam brand that a
renowned designer like Ritu Beri has tied up with Deepam to enhance the beauty of the saree
with her unique style of embellishments on these creations.
Deepam’sbridal trousseau section is a dream. Every creation is hand-picked and designed to
weave the most precious memories of the most important day in a woman’s life – her
wedding.The embellishments on the sarees range from kundan, zardozi, resham work and
genuine Swarovski crystals.
The vast range of sarees lets you complete your entire saree shopping under one roof.
“DEEPAM” has become synonymous with quality and style. It is a household name not only
in Bangalore city, but abroad as well. It is widely known as a creative showroom on
M.G.Road, catering to the fine taste and needs of choosy visitors from India & abroad. Our
satisfied customers over the last few decades include the Prime Ministers of Singapore,
Malaysia, Mauritius, Queen of Sweden - to name a few. Also dignitaries from far off
countries like the USA, UK, France, Germany etc. Our professional and customer-oriented
Management, the transparency of our dealings and a passion to change as change necessitates
has been the secret of our success for these four decades - always looking for more areas to
conquer.
Deepam has been associated with some of the leading designers of India. They have
exclusively designed sarees and lehengas for Deepam. To name a few, Ritu Beri, Manish
Malhotra, Neeta Lulla, Suriely Goyal, Vikram Padnis, Anaitha Shroff. Ritu Beri created a
special range of Hasth Kanchi sarees exclusively for Deepam, which were most popular
among Deepam Customers.
Deepams strong customer base in the USA encouraged us to conduct exhibitions and
participate in different NRI based conventions. We participatE in AKKA Conferences,
TANA Convention, AAPI Conventions. Along with that we conduct exhibitions in New
Jersey, Detroit, Long Island, Los Angeles and Chicago. We also, export Silk Fabrics and
Sarees to Middle East Countries and Europe.
Deepam has a separate division which handles Institutional and Corporate Sales. We have
supplied Uniforms to leading Five Star Hotels, Corporate Companies, Bangalore
International Airport Staffs, Leading Airlines and Educational Institutions. The Institutional
sales amount to 20% of our Annual turnover.
Also we have our website to sell our sarees online to reach the customers who are not able to
come to us personally. We get orders online from USA, UK, Australia and many other
countries.
WEEKLY REPORT

WEEK 1- TRAINING AND DEVELOPMENT

• Tally ERP 9
Tally.ERP 9 is one of the most popular accounting software used in India. It is complete
enterprise software for small & medium enterprises. Tally.ERP 9 is a perfect business
management solution and GST software with an ideal combination of function, control, and
in-built customisability.

Tally.ERP 9 is preferred by millions as their business management software across the globe.
It dynamically adapts to the way you operate your business and help Company in Tally ERP
9. Tally.ERP 9 provides you with capabilities that will simplify the way you manage all
aspects of your business, such as accounting, sales and purchase, inventory, manufacturing,
taxation, payroll, MIS reporting, and much more. To get started, you will first need to create
a company in Tally.ERP 9 and then record your day-to-day business transactions. To create
the company, fill in the company name, contact details, financial year - and you are all set!
Maintain day-to-day transactions: Once you create your company in Tally.ERP 9, you can
enable the required options that suit your business preferences and start recording your
transactions. As and when you save your transactions, the corresponding business reports are
generated and updated in real time. As your business grows, you can enable other options, as
per your needs. All the company information and business transactions that you maintain in
Tally.ERP 9 remain safe. If you want to allow only a few individuals to access your company
information, you can set up additional security to access records of your business
transactions.s you simplify your business operations.Tally.ERP 9 provides you with
exceptional capabilities that will simplify the way you manage all critical aspects of your
business, including accounting, sales and purchase, inventory, manufacturing, taxation,
payroll, MIS reporting, and much more.

• Company in Tally.ERP 9
Tally.ERP 9 provides with capabilities that will simplify the way we manage all aspectsof the
business -accounting, sales and purchase, inventory, manufacturing, taxation, payroll, MIS
reporting, and much more. To get started, wewill first need to create a company in Tally.ERP
9 and then record day-to-day business transactions. To create the company, fill in the
company name, contact details, financial year - and we are all set.Maintain day-to-day
transactions: Once wecreate theompany in Tally.ERP 9, wecan enable the required options
that suit the business and start recording the transactionsAs and when wesave the
transaction,the corresponding business reports are generated and updated in real time. As the
business growswecan enable other options, as per our needs. All the company information
and business transactions that wemaintain in Tally.ERP 9 remain safe. If wewant to allow
only a few individuals to access our company information, wecan set up additional security to
access records of the business transactions.

F11: Company Features

• Set Business Preferences

• Company Features

F12: Configuration

• Printing

• General

• Numeric Symbols

• Accounts and Inventory Info

• Voucher Entry

• Invoice or Orders Entry

• Banking Configuration

• Data Configuration
 • Advanced Configuration

• Product & Features

• Licensing

Process 1: Installation : (Buying a machine, we first install it for using

it)

Tally software can be purchased and downloaded from the Tally website.Tally 9 is for
Windows only. We can also use Tally in Educational Mode, which allows you to learn how
to use the software without having to purchase a license. Some features are restricted in this
mode.

Process 2: Navigation : (After installation is complete, we use it’s

hardware supports or software supports to use the machine)
Tally.ERP 9 is designed to be navigated by using the keyboard. While we can click any
option we want, everything in Tally has a keyboard shortcut. The Shortcut as we say is
usually the key displayed next to each available option. Learning how to get around with the
keyboard will increase efficiency.

Process 3: Create a company : (After we get some idea about the

machine, we set the program for it to work )
To use Tally, we will first need to create a company in the program. Even when we are not
using tally professionally, we still need to create a company using the following steps :

Step 1: In the opening menu, select "Create Company"

Step 2: Enter Company details :

Enter the company name as it appears on banking records

Enter the company address, statutory compliance, telephone number, and email

Step 3: Turn on "Auto Backup" to ensure that a copy of all your work is saved in case
something happens to the original.

Step 4: Choose your currency

Step 5: If you are using Tally to just manage your accounts, then select "Accounts only" in
the Maintain menu and If you are using Tally for inventory management as well, select
"Accounts with inventory".

Step 6: Enter the start of your financial year and the start date for the book
PETTY CASH
What Is Petty Cash?

A petty cash fund is a small amount of company cash, often kept on hand (e.g., in a locked
drawer or box), to pay for minor or incidental expenses, such as office supplies or employee
reimbursements.A petty cash fund will undergo periodic reconciliations, with transactions
also recorded on the financial statements. In larger corporations, each department might have
its own petty cash fund.

How a Petty Cash System Works

To set up a petty cash system, the initial amount of money comes from the business checking
account.

Employees take money from the petty cash account, recording each transaction with date,
amount, vendor (who was paid), and business purpose.

Every purchase using petty cash must be documented in the same way as other business
income and expenses. Using a petty cash log or petty cash slips will help capture these
expenses so they can be used to offset income for business tax purposes.

Someone must check the account periodically so the balance doesn't get too low. When the
petty cash drawer gets below a pre-set amount that you determine, add to the drawer by
writing a check to "Petty Cash" and cashing that check.

Setting Up a Petty Cash Account

Start by deciding how much money you will need each day, both to make change for
customers and to make small cash payments.

Keep as much cash as you need in your cash drawer, but not too much, so it isn't a temptation
for employees or robbers. To determine a maximum amount for petty cash, keep records on
expenditures over a period of time, using an average amount for each week, for example. You
will need those records for tax purposes too.

Keep Track of Petty Cash Transactions

As you start out, keep track of how much is in the petty cash box or drawer at the beginning
of each day. As you make each payment, you will need petty cash slips or a transaction list.
For each transaction, record the date, the amount, and what it was for.

Be as specific as possible, so there is no doubt that the transaction was business-related. You
don't need to keep track of change each day. But at the end of each day, record the amount in
the petty cash drawer. The difference should tally with cash payments made by customers
and with the total of petty cash expenses paid from the drawer.
Set Up Petty Cash Policies

Before you start using petty cash, add a petty cash policy section to your employee policies
and procedures manual. Include these items in the policy, and consider how you can reduce
the risk of employee or customer theft.

• How much should we keep in the account? What is the minimum (when should
money be added?) What account should be used to replenish the account?
• Who is in charge of recording transactions? Who puts money back in the account?
• Where is the petty cash kept?
• How are petty cash transactions recorded? Where are the records kept? Who is
responsible for adding the petty cash records to your business accounting system?

Petty Cash and Taxes

The most important part of a petty cash system is the documentation of each
transaction. Documenting transactions is the way a business documents business expenses for
tax purposes. By keeping track of all petty cash transactions - no matter how petty- you have
records to back up deductions for those small business expenses.

The more documented petty cash expenses, the more your deductions, and the lower your
business tax bill.

• Petty cash is a nominal amount of money readily accessible for paying expenses too
small to merit writing a check or using a credit card.
• In larger corporations, each department might have its own petty cash fund.
• A petty cash fund can be used for office supplies, cards for customers, flowers, paying
for a catered lunch for employees, or reimbursing employees for expenses.
• Petty cash's main advantages are that it's quick, convenient, and easy to understand
and use.

WEEK 2

INVENTORIES
The term inventory refers to the raw materials used in production as well as the goods
produced that are available for sale. A company's inventory represents one of the most
important assets it has because the turnover of inventory represents one of the primary
sources of revenue generation and subsequent earnings for the company's shareholders. There
are three types of inventory, including raw materials, work-in-progress, and finished goods. It
is categorized as a current asset on a company's balance sheet. I was assigned to work under
inventory for the second week and was given the incharge of inventory for entering the sarees
price and barcode number.
Retail inventory management is the process of ensuring you carry merchandise that shoppers
want, with neither too little nor too much on hand. By managing inventory, retailers meet
customer demand without running out of stock or carrying excess supply.

In practice, effective retail inventory management results in lower costs and a better
understanding of sales patterns. Retail inventory management tools and methods give
retailers more information with which to run their businesses, including:

▪ Product locations
▪ Quantities of each product type
▪ Which stock sells well and which doesn’t, by location and sales channel.
▪ Profit margin by style, model, product line or item
▪ Ideal amount of inventory to have in back stock and storage
▪ How many products to reorder and how often
▪ When to discontinue a product
▪ How changing seasons affect sales
Importance of Inventory Management in Retail
Inventory management is vital for retailers because the practice helps them increase profits.
They are more likely to have enough inventory to capture every possible sale while avoiding
overstock and minimizing expenses.

From a strategic point of view, retail inventory management increases efficiency. The
practice:

▪ Decreases Inventory Costs:

When you know how much stock you have and how much you need, you can pinpoint
inventory levels more accurately, thereby reducing storage and carrying costs for
excess merchandise. Other savings include shipping, logistics, depreciation and the
opportunity cost that comes from not having an alternative product that might sell
better.

▪ Minimizes Out-of-Stocks:
To avoid disappointing customers and missing sales, retailers want to avoid running
out of inventory. Retailers can use inventory management tools to determine how
much stock is “just right” to have on hand, neither too much nor too little. This
amount will be larger for bestsellers than for unpopular products. Also, with real-time
information on sales and stock, retailers can react quickly by reordering, transferring
stock from another location or drop shipping to the customer.
▪ Improves Profit Margins:
With lower inventory costs and enough supply to fill every order, retailers improve
profitability.

▪ Prevents Spoilage and Obsolescence:

Inventory management helps retailers address another costly inefficiency that happens
when products expire or become obsolete. This phenomenon can apply to perishables
that have a limited shelf life, such as milk and meat, or a non-perishable that becomes
obsolete because consumer tastes and technology change. For example, season
collections or holiday-specific packaging. Or when a piece of consumer technology
adds a popular new feature, the old models may face plummeting demand: Consider
how the rise of smart televisions sunk demand for models that weren’t capable of
streaming content.

▪ Improves Multi-Channel and Omnichannel Performance and

Order Fulfillment:
If you are selling via physical stores, your website and third-party merchants, it can be
difficult to keep correct inventory counts across all channels. Having accurate
inventory data across selling channels lets you use your inventory more efficiently,
ultimately getting the product to consumers faster.

▪ Simplifies Processes and Facilitates Growth:

Strong inventory management also reduces friction in your systems as sales grow.
Shipping, receiving and order fulfillment run more smoothly, and you minimize
errors, customer complaints and staff stress.

▪ Reduces Shrinkage:
Shrinkage is inventory loss due to shoplifting, product damage, vendor mistakes or
fraud, employee theft and administrative errors. According to a survey by the FMI
food industry association, the average supermarket loses up to 3% of sales through
shrinkage. A National Retail Federation survey puts average shrinkage for its
members at 1.4% of sales in 2019. This data suggests that most losses stem from
incorrectly recording inventory on intake, miscounting it or misplacing it. Stronger
retail inventory management could reduce shrinkage by at least half.

▪ Eases Supply Chain Management:

Having a firm grip on inventory and sales trends helps you manage your supply chain
better. You can use the replenishment system that works best for you, whether
that’s just-in-time ordering or fewer, bigger orders. Retail inventory management
 helps you determine your economic order quantity (EOQ), which is the ideal order
size to minimize inventory costs including holding, shortage and ordering expenses.
The EOQ formula, which factors in demand in units, ordering costs such as shipping
charges and holding costs, works best when these variables remain consistent over
time. Learn more about the EOQ formula.

▪ Improves Customers Satisfaction:

When customers get the products they want faster with fewer mistakes or out-of-
stocks, it increases customer loyalty.

▪ Improves Forecasting:
You can use data such as historical sales results and available inventory to project
future sales, growth and capital needs. These forecasts are vital to your budgeting and
guide spending for marketing, product development and staffing.

TAGGING
Price tags are labels that you can print and affix to items prior to distribution to your retail
stores. The price tag can contain information such as the item number and SKU, price, UPC
barcode, and item information such as long SKU department, long SKU class, and long SKU
size. I worked under the tagging system for 3 days to stick the barcode on the sarees.

WEEK 3

BILLING
In simple terms, billing refers to the process of raising and sending invoices to customers and
requesting them to settle the dues. Invoices are documents that serve as a source of record-
keeping for businesses and as a means of requesting payment from customers. I was working
under the cashier where i learnt the software for the billing system and the process of billing
the products.

The importance of billing is as follows-

• Acts as an inventory tracker

• Helps in bookkeeping
• Serves as evidence when necessary
• Forms part of data collection
• Helps businesses stay legally compliant

CUSTOMER SERVICE
Customer service is the direct one-on-one interaction between a consumer making a purchase
and a representative of the company that is selling it. Most retailers see this direct interaction
as a critical factor in ensuring buyer satisfaction and encouraging repeat business. I was
assigned the work to guide customers to different floors as per their requirement.
INTERN EXPERIENCE REPORT
While working with DEEPAM SILKS AND SAREES PVT LTD i learnt to be independent.
During my internship program most importantly I realized how to work under the pressure of
responsibilities maintain chain of commands and working in team. Chetana maam helped me
to work with rules and regulations and understand how to reach understanding people while
working together. This practical orientation is necessary for the development and preparation
of a person before entering into the corporate world. The things that I have learned at
DEEPAM SILKS AND SAREES PVT LTD:

• Meaning of responsibility
• Responsibility to the profession
• Necessity of commitment
• Auditing and reporting responsibilities
• working with ethics
• working independently
• Client dealings
• Ability to interact with different sorts of people

CONCLUSION
Overall internship is a really good program and recommended to my fellow friends. It helps
to enhance and develop my skills, abilities, and knowledge. It was a good experience and
memories as not only I have gained experience, but also new friends and knowledge. Deepam
Silks and Sarees Pvt. Ltd. Also a good place to do the internship since it provide numerous
benefits and advantages to practical trainees. I am grateful and thankful to my supervisor and
department staff. They also help me to handle some of my weaknesses and provided guidance
to me whenever I am in need. I think the One month duration for the internship was not
enough for me to learn more in details about the jobs.