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Introduction:
GEPCO establish in 1998 under company's ordinance 1984. There
are 60 units of GEPCO. It is a power supply company. It
encompassed the areas of existing Districts of
Gujranwala
Hafizabad
Sialkot
Narowal
Gujarat
Mandi Bahauddin.
City name
Lahore
Gujranwala
Islamabad
Faisalabad
Multan
Karachi
Hyderabad
Sakkhar
Quetta
Tribal Area
Peshawar
Departments of GEPCO:
Province
Punjab
.
.
.
.
Sind
.
.
Baluchistan
KPK
.
Finance department
Customer Support Department
Purchase Department
Internal Audit Department
Operation Department
Human Resources Department
Legal Department
Purchase department:
It includes all functions related the purchases such as meter and
transformer.
Operation department:
It includes the functions of supply of electricity.
Legal department:
It performs the activity related the legal cases.
Board of directors:
There are 11 members of board of directors in GEPCO which are
appointed by the Government.
All departments complaints are reported to CEO.
19
Grade
18
Grade
Manager
(Corporate
Account)
Deputy
Manager
(General
Account And
Financial
reporting)
Deputy
Manager
(Payment /
Admin)
Manager
(Corporate
Planning And
Control
Deputy
Manager
(CPC)
Deputy
Manager
(Budgeting
And
Texation)
Taxation
Banking
receive payment
management of tax
payment of tax
CPC Section:
At the start of next financial year decisions relating to budgeting.
Operational and capital expenditure are made.
Budgeting:
Normally on the basis of previous 2 or 3 year expenses estimation
is made for current budget and then transferred to relate to
providences then finalize the tariff quotation. Budget is approved
by NEPRA (National Electrical Power Regulatory Authority).
Capital expenditure to update the system capital budgeting is
done every year with condition and planning of coordination
department.
It generally includes:
Own Sourcing:
Loan Calculation:
Follow up of loan
Markup payment
Need of loan
Repayment of loan
Reporting:
All the issues are reported to NEPRA by CPC sections.
These issues involves
Finance issues
Accounts issues
Relending:
Loan from Asian development Bank to Government and
Government to WAPDA at the high rate
Operational Expenditures:
These includes,
Salaries and wages
Repairing expenditures
Tariff petition:
It is a per unit rate of electricity
Frame work provided by NEPRA is followed fill the form of NEPRA
and follow the direction of NEPRA for tariff
WAPDA file the quotation of tariff on the basis of
Estimation of units
Cost of electricity
Subsidies:
The NEPRA finalize tariff and this is determined by considering by
subsidies by government.
Example:
Determined rate is 13 the government gives instruction that the
rate should be 11 per unit and the difference of 2 is subsidy by
government.
Per Unit
decided by
GEPCO
13
11
2 RS is
subsidy
Operational budget:
Cash budget
Sale budget
Electricity cost
Budgeting is transfer to all heads:
Salary
Travelling allowance
Per Unit
decided by
Govt
Rolling budget:
Update budget every month
Adjust budget with actual budget
Flexible budget:
Changeable budget
Can change expenses
Changeable budget according to decided standard
Flexible budget on excel model
Demand
And
Release
Function:
Pre Audit:
Audit before performing any activity is called as pre audit.
Post audit:
Audit after performing any activity is called as the post audit.
Steps of demand:
Deman
d and
its
records
are
made
Pre
audit
the
deman
d
clarify
from
budget
making
vouche
r /fill
the
deman
d form.
In this there is
written the demand
values.
FROM GEPCO
DEMAN
D
NO.&D
Sr. No. Is
always 1
It is
mentioned in
demand
record.
NAME
OF
OFFICE
DETAIL OF
ADDITIONAL FUND
DEMAND
It is written in
demand
record with
stamp.
Nature of
demand
BAN
K
AMOUN
T
In this there is
written the
demand
values.
In this there is
written the
demand
values.
RS.
TOTAL:
Approved from
him
FINANCE DIRECTOR
IOT
(Inter office
transaction)
Type of advices:
Debit
Advice
Types of
advice
Credit
advice
Issued
Receivea
ble
Issued
Receivea
ble
Steps of IOT:
First of all advices are made in this section. For this purpose
we enter the total amount of every unit in excel and enter
the registration number. After this advices are automatically
made. There are taken out prints and approve these advices.
The debit and credit account of every unit is clarified.
There are posting of ledger of all advices and accounts.
Receivable
And
Payable:
4 generation companies
1 NTDC (national transmission and dispatch companies)
1MF treasury (management finance)
WAPDA
Example:
An employee of GEPCO wants to send his free supply to the
LESCO due to his family then LESCO send the free supply on the
behalf of GEPCO.
In this section there are 82 to 85% transactions related to
the free supply.
Free supply:
It is a core function of the receivable and payable.
Facility of free units is provided to all employees is called as free
supply. This facility is provided with the scale wise such as,
Scale
Free units
1 to 4
5 to 10
11 to 15
16
17
18
19
20
21
Journal voucher:
Creation of receivable and payable is called as journal voucher;
this function is performed in this section on monthly basis.
Example:
If an employee of GEPCO takes loan from GEPCO and transferred
to LESCO but is still liable to repay the loan then GEPCO debit that
employees account and credit the LESCO account.
1.Wrongly deposit:
When one companys fund is wrongly transferred to other
companys account then receivable and payable department
adjust that wrong transaction.
Example:
If consumer of GEPCO submits the bill payment in LESCO account.
At the end of month after checking account, it is shown that
LESCO have more funds. Then LESCO credit GEPCO and GEPCO
debit LESCO.
2.Statement of account:
After every quarter each companies issues statement of account
to another company. Then reconciliations are made to tally
accounts.
These four functions are mainly performed by receivable and
payable department.
Distribution companies:
These companies which purchase or supply electricity and receive
bill payments. These are called DISCO.
Generation companies:
These companies produce electricity and are called producer or
GENCO.
These are follows
GENCO
1
Jamsho
ro
Sindh
GENCO
2
Gudu
Sindh
GENCO
3
Muzafa
r garh
Punjab
GENCO
4
Lakhra
Sindh
3.MF Treasury/CPPA:
Central power purchasing agency
Distribution companies cannot directly purchase electricity from
generation companies. So, they purchase from CPPA & CPPA from
GENCO.
GENC
O
CPPA
DISC
O
LESCO
GEPCO
MEPCO
FESCO
PESCO
HESCO
SEPCO
TESCO
ISCO
QESCO
4.NTDC:
National transmission and Dispatch Company
All the decisions about the placement of grid,
transformers and lines are related to this head.
5.PEPCO:
Consolidation:
Operational system:
R.O.: keep billing record.
All those customers who have complain then they go to the
customer services and gives complain.
GEPCOs debtors are their customer to whom we are billing. These
come in revenue office.
The division NO.1 and R.O.1 are maintaining the record and up to
date the system Manager operation control all the activities. in
the cant circle there is a operational manager cant. All the
subdivisions and the divisions send money to head quarter
together.
Compile section:
Convert trail; balance into the soft form. These trail balance get
from the all accounting units or every circle. There are section
codes from 0 to 9
Section code
0
1
2
3
4
5
6
7
8
9
Name
Balance sheet
Balance sheet
Balance sheet
Balance sheet
Operating revenue
Salary expenses
Salary expenses
Salary expenses
Salary expenses
Salary expenses
Note of account:
Note of account includes working of the account. In every month
quarterly the financial statement is made and analysis of this
statement.
Every record is maintained in the hard form because in this way it
is consider a evidence.
Working in consolidation:
In this section the monthly trail balance of every account
Sir Faisal
Trail
balance
monthly
Posting
on excel
Tally
Balance
sheet
Profit and
loss
account
Notes of
account
Banking sector:
Core function:
Collection money
Calculation of money
Reconciliation of statement
Salary consume the remaining money give to WAPDA
Collection of money:
All abnks
of a
region
Head
Bnak of
the region
WAPDA
Head
quater