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ORACLE Applications

Operation Analysis

ORACLE Applications Operation Analysis CASH MANAGEMENT February, 2009
ORACLE Applications Operation Analysis CASH MANAGEMENT February, 2009

CASH MANAGEMENT

February, 2009

ORACLE Applications Operation Analysis CASH MANAGEMENT February, 2009
R EVISION H ISTORY Date Prepared By Reviewed By Version # Comments O PERATION A NALYSIS
R EVISION H ISTORY Date Prepared By Reviewed By Version # Comments O PERATION A NALYSIS

REVISION HISTORY

R EVISION H ISTORY Date Prepared By Reviewed By Version # Comments O PERATION A NALYSIS
Date Prepared By Reviewed By Version # Comments
Date
Prepared By
Reviewed By
Version #
Comments

OPERATION ANALYSIS: CASH MANAGEMENT

ISSUED: PAWAN KUMAR SONI

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Distribution List Sapphire Project File O PERATION A NALYSIS : C ASH M ANAGEMENT I SSUED
Distribution List Sapphire Project File O PERATION A NALYSIS : C ASH M ANAGEMENT I SSUED
Distribution List Sapphire Project File O PERATION A NALYSIS : C ASH M ANAGEMENT I SSUED

Distribution List

 

Sapphire Project File

OPERATION ANALYSIS: CASH MANAGEMENT

ISSUED: PAWAN KUMAR SONI

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Eye Television Network Ltd. Acceptance & Approval Name Position Signature Date O PERATION A NALYSIS :
Eye Television Network Ltd. Acceptance & Approval Name Position Signature Date O PERATION A NALYSIS :

Eye Television Network Ltd. Acceptance & Approval

Eye Television Network Ltd. Acceptance & Approval Name Position Signature Date O PERATION A NALYSIS :
Name Position Signature Date
Name
Position
Signature
Date

OPERATION ANALYSIS: CASH MANAGEMENT

ISSUED: PAWAN KUMAR SONI

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Table of contents Objective Company Introduction Eye Television Network Limited Sapphire Consulting Services ETNL – Current
Table of contents Objective Company Introduction Eye Television Network Limited Sapphire Consulting Services ETNL – Current
Table of contents Objective Company Introduction Eye Television Network Limited Sapphire Consulting Services ETNL – Current

Table of contents

Objective Company Introduction

Eye Television Network Limited Sapphire Consulting Services ETNL Current System CM Process Map

Cash Management Procedures

Bank Reconciliation Payment Reconciliation Receipt Reconciliation Inter-Account Transfer Reconciliation

Cash Management Reports N/A Issues

Excel-based Payments Recon Excel-based Receipts Recon Excel-based Inter-Account Transfer Recon

Major Requirements

Ability to track Cash in Transit Ability to Reconcile Payments/Receipts with Bank Statements Eliminating Current Issues

Appendix

Bank Statement

OPERATION ANALYSIS: CASH MANAGEMENT

ISSUED: PAWAN KUMAR SONI

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Objective This document describes the outcome of the analysis carried out by Sapphire Consulting Services(SCS) to
Objective This document describes the outcome of the analysis carried out by Sapphire Consulting Services(SCS) to

Objective

Objective This document describes the outcome of the analysis carried out by Sapphire Consulting Services(SCS) to

This document describes the outcome of the analysis carried out by Sapphire Consulting Services(SCS) to analyze and comprehend the business process and workflows related to the Cash Management at Eye Television Network Limited (ETNL).

The rationale behind operation analysis phase is given below:

Understand Reconciliation processes Document the process flows Critical issues in the current system Identify major requirements

The scope of this document is limited to the Reconciliation processes at ETN and broadly comprises of the following:

Entering bank statements in Cash Management Reconciliation with Ledger

OPERATION ANALYSIS: CASH MANAGEMENT

ISSUED: PAWAN KUMAR SONI

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This document is based on the current processes as explained by the key users. It is
This document is based on the current processes as explained by the key users. It is
This document is based on the current processes as explained by the key users. It is

This document is based on the current processes as explained by the key users. It is in line with divided into following components:

Explanation of the sub processes within the Cash Management Main features of the reconciliation process Issues related to the reconciliation process Major requirements by Finance Department.

Where necessary, process flows have been provided for the better understanding.

OPERATION ANALYSIS: CASH MANAGEMENT

ISSUED: PAWAN KUMAR SONI

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Company Introduction E YE T ELEVISION N ETWORK L IMITED . Eye Television Network Limited was
Company Introduction E YE T ELEVISION N ETWORK L IMITED . Eye Television Network Limited was

Company Introduction

EYE TELEVISION NETWORK LIMITED.

Company Introduction E YE T ELEVISION N ETWORK L IMITED . Eye Television Network Limited was

Eye Television Network Limited was incorporated at February 25, 2004 as a public limited company under the Companies Ordinance, 1984. The company received its certificate of commencement of business form Securities & Exchange Commission of Pakistan on May 21, 2004. Commercial transmission of the HUM TV started on January 17, 2005. Commercial transmission of the Masala TV started in September 2006 and recently another channel has been launched under the company’s banner i.e. Style 360.

HUMTV being the first channel launched under the company’s banner gained tremendous popularity in the very first year and then soon after it became the no.1 entertainment channel of Pakistan. HUMTV not only managed to increase their viewer ship but, with the quality of programs of different genre also managed to bring back most of the viewers lost to Indian channels.

Another courageous step taken by the company to launch a non stop 24 hours food channel and yet it proved to be another success story. Being the first food channel launched by any Asian Television Network it not only gained popularity among Pakistani viewers but also became a household name in many Asian countries.

In order to further strengthen the channel base of the company and to promote the image of the company as a pure Entertainment Television Network ETNL has recently launched an international fashion &style channel Style360.

Vision

Inspired by the finest cultural, corporate and creative values to present content which entertains and enriches audiences.

Mission

to enable the origination of outstanding content on subjects of interest and relevance to a range of audiences while using best professional practices and ensuring long term continuity.

OPERATION ANALYSIS: CASH MANAGEMENT

ISSUED: PAWAN KUMAR SONI

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Sapphire Consulting Services Pvt. Ltd. SAPPHIRE CONSULTING SERVICES (PVT.) LTD. – SCS is an international systems
Sapphire Consulting Services Pvt. Ltd. SAPPHIRE CONSULTING SERVICES (PVT.) LTD. – SCS is an international systems

Sapphire Consulting Services Pvt. Ltd.

Sapphire Consulting Services Pvt. Ltd. SAPPHIRE CONSULTING SERVICES (PVT.) LTD. – SCS is an international systems

SAPPHIRE CONSULTING SERVICES (PVT.) LTD. – SCS is an international systems consulting company providing a broad portfolio of technology and business solutions to help its worldwide clients improve their business performance. SCS develops turnkey solutions with a faster time to market and a lower Total Cost of Ownership. The service ranges from building a business case, to assessing application portfolios to designing and implementing the final solution.

Our areas of specialization include:

Custom Application Development Business Intelligence (BI) Solutions Packaged ERP Implementations Open Platforms and Technologies Application Management Services

Focused on delivering strategic information technology solutions that address the complex business needs of its clients, SCS provides applications management, development, integration, enterprise consulting, technology architecture, and a number of related services such as business process outsourcing thro ugh a global delivery model. We accomplish this by the following:

Complete project management, planning, design, building and implementation of client specific applications, taking responsibility for achieving contractually specified results. Assistance to clients during implementation of information systems and the associated processes of changes. Providing staff of an agreed level and quality of knowledge and expertise to work on projects on which the client itself is responsible for project management.

OPERATION ANALYSIS: CASH MANAGEMENT

ISSUED: PAWAN KUMAR SONI

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Current System The bank reconciliation process starts when the bank statements are received. The reconciliation is
Current System The bank reconciliation process starts when the bank statements are received. The reconciliation is

Current System

Current System The bank reconciliation process starts when the bank statements are received. The reconciliation is

The bank reconciliation process starts when the bank statements are received. The reconciliation is performed to get the correct bank /cash position and to report to the management.

The SCS team has worked very closely with key Finance personnel’s’ to conduct and comprehend existing business processes and flows of cash management.

After receiving the hardcopy of the bank statement the Finance Department starts the reconciliation process. The ledger report of the same date as of the bank statement is generated from the existing system which shows outstanding checks and receipts. The ending balance of the bank statement is entered into the existing system i.e. VERTEX, to identify reconciling transactions such as un-presented checks, un-cleared receipts, bank charges, direct deposits and other charges etc.

The ledger report is analyzed with the bank statement. The check numbers that are on the bank statement are tallied with the check numbers on the ledger report. Once the whole list is reviewed, the check numbers that have been tallied are marked as recovered in the system. Then the reconciliation statement is prepared manually on MS Excel. This sheet consists of those items that are on the bank statement and are not in the ledger for e.g. bank charges and direct deposits etc. These are recorded in the VERTEX.

It is to our understanding and to the best of our knowledge that all the offices and departments are following the same working procedures; however possibility of additional checks and controls (minor) may exist at each office.

OPERATION ANALYSIS: CASH MANAGEMENT

ISSUED: PAWAN KUMAR SONI

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Bank Reconciliation Scope This procedure covers how Bank Reconciliation carried out by Finance Department. Policy The
Bank Reconciliation Scope This procedure covers how Bank Reconciliation carried out by Finance Department. Policy The
Bank Reconciliation Scope This procedure covers how Bank Reconciliation carried out by Finance Department. Policy The

Bank Reconciliation

Scope

This procedure covers how Bank Reconciliation carried out by Finance Department.

Policy

The reconciliation statement is prepared in Ms Excel after the Finance Department receives statements having account balances from its banks.

Responsibility

Finance Department has the sole responsibility to maintain the data for Bank Reconciliation.

Distribution

Finance Department

Ownership

The Finance Department is responsible for ensuring this document is necessary, reflects actual practice, and supports corporate policy.

Activity Preface

This activity is performed once monthly whenever the Bank statement is received by Finance Department ..

OPERATION ANALYSIS: CASH MANAGEMENT

ISSUED: PAWAN KUMAR SONI

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Prior Activity Bank Prepares Statement and send to Finance Department. Finance Department 1. Finance Department receives

Prior Activity

Prior Activity Bank Prepares Statement and send to Finance Department. Finance Department 1. Finance Department receives

Bank Prepares Statement and send to Finance Department.

Prior Activity Bank Prepares Statement and send to Finance Department. Finance Department 1. Finance Department receives

Finance Department

  • 1. Finance Department receives Bank Statement.

  • 2. Ledger report for cash/bank is generated from VERTEX.

  • 3. The cheque numbers list maintained on the Excel sheet are tallied with the Bank Statement.

  • 4. The matched cheque numbers, RVs and PVs that has been tallied are marked as recovered in VERTEX.

  • 5. A separate sheet is prepared in MS-Excel which contains those amounts which are on the bank statement and are not present on the ledger such as bank charges, direct deposits and other charges. These amounts are then entered in the VERTEX.

  • 6. Once the data is entered in VERTEX an adjusted Ledger activity is pulled out which contains items to be reconciled.

  • 7. The bank reconciliation is than prepared in Ms Excel.

End of activity.

OPERATION ANALYSIS: CASH MANAGEMENT

ISSUED: PAWAN KUMAR SONI

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Bank Reconciliation Payments Scope This procedure covers how Bank Reconciliation carried out by Finance Department payments.
Bank Reconciliation Payments Scope This procedure covers how Bank Reconciliation carried out by Finance Department payments.
Bank Reconciliation Payments Scope This procedure covers how Bank Reconciliation carried out by Finance Department payments.

Bank Reconciliation Payments

Scope

This procedure covers how Bank Reconciliation carried out by Finance Department payments.

Policy

The reconciliation statement is prepared in Ms Excel after the Finance Department receives statements having account balances from its banks.

Responsibility

Finance Department has the sole responsibility to maintain the data for Bank Reconciliation.

Distribution

Finance Department

Ownership

The Finance Department is responsible for ensuring this document is necessary, reflects actual practice, and supports corporate policy.

Activity Preface

This activity is performed once monthly whenever the Bank statement is received by Finance Department.

OPERATION ANALYSIS: CASH MANAGEMENT

ISSUED: PAWAN KUMAR SONI

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Prior Activity Bank Prepares Statement and send to Finance Department. Finance Department 1. Finance Department receives

Prior Activity

Prior Activity Bank Prepares Statement and send to Finance Department. Finance Department 1. Finance Department receives

Bank Prepares Statement and send to Finance Department.

Prior Activity Bank Prepares Statement and send to Finance Department. Finance Department 1. Finance Department receives

Finance Department

  • 1. Finance Department receives Bank Statement.

  • 2. Ledger report for cash/bank payments is generated from VERTEX.

  • 3. The cheque numbers list maintained on the Excel sheet are tallied with the Bank Statement.

  • 4. The matched cheque numbers & PVs that has been tallied are marked as recovered in VERTEX.

  • 5. A separate sheet is prepared in MS-Excel which contains those amounts which are on the bank statement and are not present on the ledger such as bank charges, direct deposits and other charges. These amounts are then entered in the VERTEX.

  • 6. Once the data is entered in VERTEX an adjusted Ledger activity is pulled out which contains items to be reconciled.

  • 7. The bank reconciliation is than prepared in Ms Excel.

End of activity.

OPERATION ANALYSIS: CASH MANAGEMENT

ISSUED: PAWAN KUMAR SONI

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Bank Reconciliation Receipts Scope This procedure covers how Bank Reconciliation carried out by Finance Department for
Bank Reconciliation Receipts Scope This procedure covers how Bank Reconciliation carried out by Finance Department for
Bank Reconciliation Receipts Scope This procedure covers how Bank Reconciliation carried out by Finance Department for

Bank Reconciliation Receipts

Scope

This procedure covers how Bank Reconciliation carried out by Finance Department for Receipts.

Policy

The reconciliation statement is prepared in Ms Excel after the Finance Department receives statements having account balances from its banks.

Responsibility

Finance Department has the sole responsibility to maintain the data for Bank Reconciliation.

Distribution

Finance Department

Ownership

The Finance Department is responsible for ensuring this document is necessary, reflects actual practice, and supports corporate policy.

Activity Preface

This activity is performed once monthly whenever the Bank statement is received by Finance Department.

OPERATION ANALYSIS: CASH MANAGEMENT

ISSUED: PAWAN KUMAR SONI

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Prior Activity Bank Prepares Statement and send to Finance Department. Finance Department 1. Finance Department receives

Prior Activity

Prior Activity Bank Prepares Statement and send to Finance Department. Finance Department 1. Finance Department receives

Bank Prepares Statement and send to Finance Department.

Prior Activity Bank Prepares Statement and send to Finance Department. Finance Department 1. Finance Department receives

Finance Department

  • 1. Finance Department receives Bank Statement.

  • 2. Ledger report for Receipts is generated from VERTEX.

  • 3. The cheque numbers list maintained on the Excel sheet are tallied with the Bank Statement.

  • 4. The matched cheque numbers & RVs that has been tallied are marked as recovered in VERTEX.

  • 5. A separate sheet is prepared in MS-Excel which contains those amounts which are on the bank statement and are not present on the ledger such as bank charges, direct deposits and other charges. These amounts are then entered in the VERTEX.

  • 6. Once the data is entered in VERTEX an adjusted Ledger activity is pulled out which contains items to be reconciled.

  • 7. The bank reconciliation is than prepared in Ms Excel.

End of activity.

OPERATION ANALYSIS: CASH MANAGEMENT

ISSUED: PAWAN KUMAR SONI

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Inter-Account Transfer Reconciliation Scope This procedure covers how Bank Reconciliation carried out by Finance Department for
Inter-Account Transfer Reconciliation Scope This procedure covers how Bank Reconciliation carried out by Finance Department for
Inter-Account Transfer Reconciliation Scope This procedure covers how Bank Reconciliation carried out by Finance Department for

Inter-Account Transfer Reconciliation

Scope

This procedure covers how Bank Reconciliation carried out by Finance Department for Inter-Account Transfers.

Policy

The reconciliation statement is prepared in Ms Excel after the Finance Department receives statements having account balances from its banks.

Responsibility

Finance Department has the sole responsibility to maintain the data for Bank Reconciliation.

Distribution

Finance Department

Ownership

The Finance Department is responsible for ensuring this document is necessary, reflects actual practice, and supports corporate policy.

Activity Preface

This activity is performed once monthly whenever the Bank statement is received by Finance Department.

OPERATION ANALYSIS: CASH MANAGEMENT

ISSUED: PAWAN KUMAR SONI

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Prior Activity Bank Prepares Statement and send to Finance Department. Finance Department 1. Finance Department receives

Prior Activity

Prior Activity Bank Prepares Statement and send to Finance Department. Finance Department 1. Finance Department receives

Bank Prepares Statement and send to Finance Department.

Prior Activity Bank Prepares Statement and send to Finance Department. Finance Department 1. Finance Department receives

Finance Department

1.

Finance Department receives Bank Statement.

2.

Ledger report for Receipts is generated from VERTEX.

 
 

3.

The cheque numbers list maintained on the Excel sheet are tallied with the Bank Statement.

 
 

4.

The matched that have been tallied are marked as recovered in VERTEX.

 

5.

Once the data is entered in VERTEX an adjusted Ledger activity is pulled out which contains items to be reconciled.

6.

The bank reconciliation is than prepared in Ms Excel.

End of activity.

OPERATION ANALYSIS: CASH MANAGEMENT

ISSUED: PAWAN KUMAR SONI

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