Sana Ahmed completed a 6-week internship at Pakistan Telecommunication Limited (PTCL) from July to August 2012. PTCL is a leading telecommunications company in Pakistan that provides fixed line services, broadband internet, and wholesale mobile services. During her internship, Sana worked in PTCL's finance department and gained experience with tasks like bill processing, bank reconciliation, taxation calculations, and using their SAP software system. She provided an overview of PTCL's history and organizational structure.
Project Report of performance appraisal of bsnl.docx
INTERNSHIP REPORT ON PTCL[1]
1. 2012
SUBMITTED BY:
SANA AHMED,
ASSOCIATION OF CHARTERED
CERTIFIED ACCOUNTANT,
TABANIS SCHOOL OF
ACCOUNTANCY, KARACHI,
PAKISTAN.
17-JULY-2012 TO 30-AUG-2012
EMAIL: sana_88ahmed@hotmail.com
INTERNSHIP REPORT
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Preface………………………………………………..pg. no.4
Acknowledge…………………………………………pg. no.5
Abstract………………………………………………pg. no.6
Introduction…………………………………………..pg. no.7
History………………………………………….pg no.9
Company profile………………………………..pg. no.10
Subsidiaries……………………………………..pg. no.13
Board of directors……………………………....pg. no.14
Introduction of finance department…………………..pg. no.15
Financial hierarchy in an organization…………..pg. no.16
Purchase cycle (figure)…………………………..pg. no.17
Brief on my internship work…………………………..pg. no.18
Bills processing stages…………………………...pg. no.19
Bills receiving (figure 1)………………...pg. no.20
Scrutiny of bills (figure 2)………………pg. no.21
Parking in sap (figure 3)………….......... pg. no.22
Posting of vouchers (figure 4)………….pg no.23
Payment process in sap (figure 5)……....pg. no.24
Printing of Cheaques (figure 6)………....pg. no.25
Signing of Cheaques (figure 7)………….pg no.26
Dispatch of Cheaques (figure 8)………...pg. no.27
TABLE OF CONTENTS
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Bank reconciliation statement
Disbursement account……………………………pg. no.28
Collection account………………………………...pg. no.28
Taxation
Income tax………………………………………...pg. no.29
Sales tax…………………………………………....pg. no.29
Salary income tax (figure 9)………………………...pg. no.30
Vendor income tax (figure 10)……………………..pg. no.31
Other assignments……………………………………….pg no.32
Conclusion……………………………………………….pg no.34
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Report Date: 30th
August, 2012
This report documents the work done during the summer internship at
Pakistan Telecommunication Limited, Karachi, Pakistan under the
supervision of Abdul Rauf Odho (D.D.O and S.M Finance “2” Karachi).
The report first shall give an overview of the tasks completed during the
period of internship with technical details. Then the results obtained shall
be discussed and analyzed.
Report shall also elaborate on the future works which can be persuaded as
an advancement of the current work.
I have tried my best to keep report simple yet technically correct. I hope I
succeed in my attempt.
SANA AHMED
PREFACE
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For the completion of my report I am indebted to plenty of people for
their very sincere cooperation that they extended to me at various stages. I
could not have done this work without the lots of help I received
cheerfully from whole PTCL, while it is very difficult to learn and rotate in
different sections of Finance department in this organization where work
burden is quiet higher as compared with other organization. The work
culture in PTCL really motivates. Everybody is such a friendly and cheerful
companion here that work stress is never comes in way.
I would specially like to thank MR. Abdul Rauf Odho & Mr. Ajeet Kumar
and the whole team for proving the nice ideas to work upon. Not only did
they advise about my project but as well as for other future experiences.
SANA AHMED
ACKNOWLEDGEMENTS
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The report presents the five tasks completed during this internship at
Pakistan Telecommunication Limited which is listed below:
1. Scrutiny
2. Parking;
3. Posting ;
4. Payments;
5. Dispatch of Cheaques.
All these tasks have been completed successfully and results were
according to expectations. Scrutiny includes the bills receiving through a
proper processing stages used in this task. Including these tasks I have a
keen look to Bank Reconciliation Statements and calculation of GST and
Income Tax and Budgeting area as well, by performing all these tasks using
SAP software, which is very demanding and valuable software nowadays.
As PTCL is performing all these functions in a proper manner according
to their segmentations in their respective departments and these functions
make it possible for PTCL to have a bright colored future as it's shown by
its text/image as per logo.
Beside all these tasks there is a summary of introduction and the
organizational overview.
ABSTRACT
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This report is on my internship at Pakistan Telecommunication Limited
covering the period of 6 weeks from July to August 30, 2012.
Pakistan Telecommunication Company Limited (PTCL) is a mega
corporation and a leading telecommunication authority in the State of
Pakistan. The corporation provides and enforces policies for the telephonic
services nation-wide and is the backbone for country's telecommunication
infrastructure despite arrival of a dozen other telecommunication
corporations, including Telenor Corps and China Mobile Ltd. The
corporation managed and operates around 2000 telephone exchanges
across the country, providing the largest fixed line network. Data and
backbone services such as GSM, CDMA, Broadband Internet and IPTV
wholesale are an increasing part of its business.
Although broadband technologies (DSL and Cable) are all the rage right
now, in reality a lot of people still only have access to analog phone lines.
Dial-up modems will remain a good way to get on the internet for several
years.
When looking for an internship I had two criteria’s:
1. Technical diversity: a main point was to learn new things in software,
especially in SAP (Systems in Applications and Products in Data
processing).
2. Responsibilities: I looked for an experience that will proof that I am
able to manage things by myself.
INTRODUCTION
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As an internee in Pakistan Telecommunication Limited the main focus of
my study research was in Finance Department. The standpoint of working
in the organization is to have an idea of practical implementation of
principles and strategies especially of finance concern. Thus, the during my
internship period I carried out with the following objectives:
• To understand the structure and system development of an organization;
• To know the functions of finance department;
• How organization mange it’s Product Lines;
• How organization copes with Environmental Changes;
• To know the competitiveness of organization;
• How organization develop its strategies;
• To know the management of marketing force and effective team work;
• To know the success and failure of products;
• Improvement in the performance of an organization.
My first week was more to acknowledge the system and what would be my
projects and tasks. And later on weeks I have assigned to different tasks to
complete.
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OVERVIEW OF THE ORGANIZATION:
History:
From the beginnings of Posts & Telegraph Department in 1947 and
establishment of Pakistan Telephone & Telegraph Department in 1962,
PTCL has been a major player in telecommunication in Pakistan. Despite
having established a network of enormous size, PTCL workings and
policies have attracted regular criticism from other smaller operators and
the civil society of Pakistan
Pakistan Telecommunication Corporation (PTC) took over operations and
functions from Pakistan Telephone and Telegraph Department under
Pakistan Telecommunication Corporation Act 1991. This coincided with
the Government's competitive policy, encouraging private sector
participation and resulting in award of licenses for cellular, card-operated
pay-phones, paging and, lately, data communication services.
Pursuing a progressive policy, the Government in 1991, announced its
plans to privatize PTCL, and in 1994 issued six million vouchers
exchangeable into 600 million shares of the would-be PTCL in two
separate placements. Each had a par value of Rs. 10 per share. These
vouchers were converted into PTCL shares in mid-1996.
In 1995, Pakistan Telecommunication (Reorganization) Ordinance formed
the basis for PTCL monopoly over basic telephony in the country. The
provisions of the Ordinance were lent permanence in October 1996
through Pakistan Telecommunication (Reorganization) Act. The same year,
Pakistan Telecommunication Company Limited was formed and listed on
all stock exchanges of Pakistan
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PTCL launched its mobile and data services subsidiaries in 2001 by the
name of Ufone and PakNet respectively. None of the brands made it to the
top slots in the respective competitions. Lately, however, Ufone had
increased its market share in the cellular sector. The PakNet brand has
effectively dissolved over the period of time. A recent DSL service
launched by PTCL reflects this by the introduction of a new brand name
and operation of the service being directly supervised by PTCL.
As telecommunication monopolies head towards an imminent end, services
and infrastructure providers are set to face even bigger challenges. The
post-monopoly era came with Pakistan’s Liberalization in
Telecommunication in January 2003. On the Government level, a
comprehensive liberalization policy for telecoms sector is in the offering.
In 2005 Government of Pakistan decided to sell 26 percent of this
company to some private corporation. There were three participants in the
bet for privatization of PTCL.
Etisalat an Abu Dhabi based company was able to get the shares with a
large margin in the bet. Government's plans of privatizing the corporation
were not welcomed in all circles; countrywide protests and strikes were
held by PTCL workers. They disrupted phone lines of institutions like
Punjab University Lahore along with public sector institutions were also
blocked. Military had to take over the management of all the exchanges in
the country. The contention between Government and employees ended
with a 30% increase in the salaries of workers.
Company profile:
PTCL is the largest telecommunications provider in Pakistan. PTCL also
continues to be the largest CDMA operator in the country with 0.8 million
V-fone customers. The company maintains a leading position in Pakistan
as an infrastructure provider to other telecom operators and corporate
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customers of the country. It has the potential to be an instrumental agent
in Pakistan’s economic growth. PTCL has laid an Optical Fiber Access
Network in the major metropolitan centers of Pakistan and local loop
services have started to be modernized and upgraded from copper to an
optical network. On the Long Distance and International infrastructure
side, the capacity of two SEA-ME-WE submarine cables is being expanded
to meet the increasing demand of International traffic. PTCL also includes
a part of NTC.
National Telecommunication Corporation is a government-based IT and
Telecom services Provider Company in Pakistan. NTC was formed in 1996
by a telecom Reorganization act through which Pakistan
Telecommunication Company was split in to two companies NTC and
PTCL. NTC provide telecom services to designated customers.
The new era of telecommunication in Pakistan has brought several
challenges with it, despite of the advantages it has made visible for the
consumers. The most important being the challenge to keep intact the
security requirements of the Government of Pakistan and to protect the
new players in this field from the conventional practices of the incumbent
operators to protect their market share. To overcome these challenges
GOP established National Telecommunication Corporation (NTC) in
January 1996 under the Telecom Reorganization Act 1996. The main
objective was to have an infrastructure independent of all other operators
that can be used for the purpose of government communication and as an
alternative support for the operators entering the market.
NTC started its operations in 1996 with only 5 local exchanges all over
Pakistan and an analog microwave link not capable of supporting the
digital transmission. To carry out its operations, it was mainly dependent
on PTC infrastructure and used its transit network, international gateways,
transmission network, IN platform etc., to carry out its operations. The
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copper network in the access provided to NTC was not sufficient to cater
for its subscriber base and meet the required quality of service parameters.
NTC had no arrangements for direct interconnect with cellular operators.
As a result it had to pay substantial part of its revenues to PTCL for 3rd
party termination. Data services being essential demand of NTC customers
could not be met due to non-availability of infrastructure. Billing of NTC
customers was carried out through PTC initially and through Pakistan
Computer Bureau. The main challenge for NTC at that time was to reduce
this dependency on other operators to minimum as soon as possible to
fulfill its obligations and to sustain itself in the deregulated environment in
which PTC was to be privatized.
The establishment of NTC MSDN was a major milestone, achieved in
2001 which enabled NTC to provide multiple data services such as dial-up,
DSL, Web hosting and internet etc. to its customers. Another milestone
achievement in national history is placement of Pakistan education &
Research Network (PERN) project. The project is providing 155 Mbit/s
International Connectivity to 59 universities connected all over Pakistan.
The billing system was developed in first 4 years which made it possible for
NTC to do its own billing.
NTC has traveled a long way in developing its infrastructure in lines with
the technological and market trends. NTC is determined to provide an
infrastructure required to meet its objectives and to support the nation and
GOP in achieving its objectives.
NTC is currently providing the following services to its customers.
Telephone;
Multi-services data network;
Transmission services;
Co-location.
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Subsidiaries:
Pak Telecom Mobile Limited (PTML) is a wholly owned subsidiary of
PTCL, listed as a public limited company in the year 1998 and provide
cellular mobile services in Pakistan under the brand of Ufone. Though the
company was listed in 1998, it commenced its commercial operations in
January 2001.
Ufone GSM is a Pakistani GSM cellular service provider. It is one of the
five major GSM Mobile companies in Pakistan. In January 2001 Pak
Telecom Mobile Limited (PTML) a wholly owned subsidiary of Pakistan
Telecommunication Company Limited (PTCL) started its operations under
the brand name ‘Ufone’.
After the partial privatization of the parent company PTCL, 26% of shares
and control was sold to Etisalat and Ufone became a part of the Emirates
Telecommunication Corporation Group.
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Board of Directors:
Mr. Farooq Ahmed Awan (Chairman PTCL Board)
Mr. Abdulrahim Abdulla Abdulrahim Al Nooryani (Member
PTCL Board)
Mr. Abdul Wajid Rana (Member PTCL Board)
Mr. Abdulaziz Ahmed Saleh Ahmed Al Sawaleh (Member
PTCL Board)
Mr. Kamran Ali (Member PTCL Board)
Mr. Jamil Ahmed Khan(Member PTCL Board)
Mr. Fadhil Mohamed Erhama Al Ansari (Member PTCL
Board)
Mr. Abdulaziz Hamad Omran Taryam (Member PTCL Board)
Dr. Ahmed Al Jarwan (Member PTCL Board)
Ms. Farah Qamar (Company Secretary PTCL)
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The part of an organization that manages its money. The business
functions of a finance department typically include planning, organizing,
auditing, accounting for and controlling its company's finances. The
finance department also usually produces the company's financial
statements.
FINANCE DEPARTMENT
ACCOUNTING
DEPARTMENT
REVENUE
DEPARTMENT
TAXATION
DEPARTMENT
INTRODUCTION OF FINANCEDEPARTMENT
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Financial hierarchy is a description of the different sections that run the
finance department and the authority, power and responsibilities of the
different members of the department. In a finance department, the
responsibilities of performing core tasks are usually allocated to individuals
who serve as the heads of sub-departments. The heads of sub-departments
are tasked with the responsibilities of exercising clearly defined roles,
authority and powers. The heads of sub-departments have subordinates
who are allocated specific duties that they are expected to perform
exhaustively. And in this department we have 30 members’ staff working.
HEAD
• CHIEF FINANCIAL OFFICER
• MANAGEMENTACCOUNTANT
REPORTSTO
CFO AND MA
• FINANCIAL ACCOUNTANT
• INTERNAL AUDITOR
REPORTSTO
MA
• CREDIT CONTROLLER
• ACCOUNTSPAYABLE ACCOUNTANT
FINANCIALHIERARCHY IN
AN
ORGANIZATION
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During my internship at PTCL I worked in following departments and
sections of PTCL.
I worked in finance department as I have stated before in my report.
Following are the sections involved in this department:
I. Bills processing stages
II. Scrutiny
III. Parking in SAP
IV. Posting of vouchers
V. Payment process in SAP
VI. Printing of Cheaques
VII. Signing of Cheaques
VIII. Dispatch of Cheaques
There are some other works I have performed in my internship period in
different sub sections in finance department. Following I have stated them:
Bank reconciliation statement
Taxation
And other assignments in financial reporting.
BRIEF ON MY INTERNSHIPWORK
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OVERVIEW OF THE PROCESSES
BILLS PROCESSINGSTAGES
BILLS RECEIVING
SCRUTINY
PARKING IN SAP
POSTINGOFVOUCHERS
PAYMENTPROCESSIN SAP
PRINTINGOFCHEAQUES
SIGNING OF CHEAQUES
DISPATCHOF CHEAQUES
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BILLS RECEIVING
ENTRY OF BILL IN A
INCOMING INVOICE
REGISTER
ASSIGNING OF SERIAL
NUMBER TO THE
ORIGINAL,DUPLICATE
AND TRIPLICATE
COPIES OF EACH BILL
ENTRY OF SERIAL
NUMBER AND DATE
WITH INITIALS OF
RECEIVING PERSON ON
ALL COPIES
CHECKING OF
AVAILABILITY OF
RELEVANT
DOCUMENTS WITH
THE BILL
RETURN OF
DUPLICATE COPY AND
ONE PERSON
SUBMITTING THE BILL
FILLING OF BOTH
COPIES COST CENTER
WISE
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SCRUTINY OF BILLS
CHECKINGOF
AVAILABILITY OF
RELEVANT DOCUMENTS
CHECKINGRATES OF
GOODS/ SERVICES
ACQUIRED
CHECKINGOF
AVAILABILITY OF
APPROVAL FROM
CONCERNED AUTHOURITY
SIGNING OF PERSON
SCRUITINIZED THE BILL IF
FOUND CORRECT IN ALLS
ATTACHMENT OF
OBJECTION LETTER IN
CASE THERE IS ANY
OBJECTION
CHECKINGAND SIGNING
OF VOUCHER BY THE AM
FINANCE SCRUTINY
CHECKINGAND SIGNING
OF VOUCHER BY THE
MANAGER FINANCE
DEMANDING FUNDS FROM
AM FINANCE BUDGET IF
NOT AVAILABLE IN THE
RESPECTIVE COST CENTER
SENDING THE FILES FOR
POSTING TO SM FINANCE 2
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PARKING IN SAP
LOGIN TO THE
PARKING USER ID
IN SAP
USE OF T-CODE
FV60 FOR PARKING
OF PAYMENT
VOUCHER
USE OF T-CODE
FV50 FOR PARKING
OF JOURNAL
VOUCHER
PRINTING OF
PARKED SAP
VOUCHER
ATTACHMENT OF
VOUCHER WITH
THE ORIGINAL
BILL
FORWARDING OF
FILE FOR
SCRUTINY AGAIN
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POSTING OF VOUCHERS
SM FINANCE LOGINS
TO SAP WITH POSTING
USER ID
OVERVIEW OF
VOUCHER
POSTING OF VOUCHER
THROUGH T-CODE
FBV0 IN SAP
SIGNING AND
STAMPING OVER THE
VOUCHER
FORWARDING OF
VOUCHERS FILE TO
MANAGER FINANCE
FOR PAYMENT
PROCESS
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PAYMENTPROCESS IN SAP
PAYEMENT PROCESS
IN SAP THROUGH
LOGIN ID OF PAYMENT
USER
CALCULATION OF
INCOME TAX/
RETENTION MONEY
T-CODE OF F-53 USED
FOR CREATING
PAYMENT DOCUMENT
THE DOCUMENT
NUMBER ENTERED ON
VOUCHER FOR
CHEAQUE PRINTING
REFERENCE
VOUCHER IS
FORWARDED FOR
CHEAQUE PRINTING
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PRINTINGOF CHEAQUES
BLANK CHEAQUES
INSERTEDSERIALY IN
PRINTERFOR
PRINTING
PRINTINGDONE
THROUGHLOG IN ID
OF PAYMENTUSER
THE T-CODE USEDFOR
CHEAQUE PRINTINGIS
FBZ5
STAMPINGOF
CHEAQUE SIGNING
AUTHOURITIESDONE
AFTERPRINTING
CHEAQUE NUMBER
ENTEREDOVERTHE
VOUCHER
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SIGNING OF CHEAQUES
CHECKING OF
PARTICULARSOF
CHEAQUE WITHTHE
VOUCHER
SIGNING F CHEAQUES
COUNTERSLIP
CHEAQUE ALONG
WITHTHE VOUCHER
SEND TOSM FINANCE
FOR SIGNING AS A
FIRST SIGNATORY
SIGNING OF CHEAQUE
OF CHEAQUE FROM
SECONDSIGNATORY
SEPARATIONOF
CHEAQUE FROM
VOUCHERFOR
DISPATCH
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DISPATCHOF CHEAQUES
PRINTING OF ENVELOPE
FOR CHEAQUE DISPATCH
HANDING OVER OF THE
CHEAQUE ENVELOPE TO
THE REPRESENTATIVE OF
TCS WITH IN 7 DAYS OF
THE RECEIPT OF THE BILL
UPDATION OF IIR BY
ENTERING CHEAQUE
NUMBER AGAINST EACH
BILL
VOUCHER STAMPED AS
PAID
VOUCHER SEND FOR
BINDING
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Identification of bank charges
Utilization of budget in a month
Identification of time barred Cheaques
Correction of wrongly entered Cheaques numbers by the bank
Monthly list of Presented Cheaques
Verification of funds deposited in the account
GPF refund
Proceeds from auction
Temporary impressed refund
TA/DA refund
Transfer of funds from head quarter account
BANK RECONCILIATION STATEMENT
DISBURSEMENT ACCOUNT
COLLECTION ACCOUNT (OTHER THAN REVENUE)
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A tax levied on the annual earnings of an individual or a corporation.
Income taxes are levied by the federal government and by a number of
state and local governments. One set of rules applies to individual income
and another to corporate income. The size and structure of an income tax
greatly influence security prices and investor decisions.
I. 6% income tax deducted on services
II. 3.5% income tax deducted on purchase and supply
It can be of two types:
Salary income tax
Vendor income tax
A sales tax is a tax imposed by state and local governments on transactions
that occur within their jurisdictions. That is, the government collects a
certain percentage of the sale price on transactions where goods and
services are traded at the retail level. While the retailers are responsible for
paying the sales tax, most of the time they simply pass on the cost to
customers. It is 16% deducted.
TAXATION
INCOME TAX
SALES TAX
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SALARY INCOME TAX
SALARY INCOME
TAX DATA
RECEIVED FROM
HCM ON MONTHLY
BASIS
PROCESSING THE
DATA AS PER THE
FORMAT DEFINED
BY FBR IN EXCEL
FORMAT
PARKING/POSTING
OF THE DOCUMENT
IN SAP FOR
PAYMENT TO FBR
UPLOADING THE FILE
ON FBR ONLINE
PORTAL CONTAINING
EMPLOYEE WISE
INCOME TAX DATA TO
CREATEPSID
DEPOSITING
CHEAQUE TO FBR
REPRESENTATIVE
AT AUTHOURIZED
NBP BRANCH
OBTAINING CPR
FROM NBP
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VENDOR INCOME TAX
DATA
RECONCILIATION
FROM ZWTR AND
GL BOOKINGS
MAINTAINING
EXCELFILE AS PER
FBR FORMAT
PARKING/POSTIN
G OF THE
DOCUMENT IN SAP
FOR PAYMENT TO
FBR
UPLOADING THEFILEON
FBR ONLINE PORTAL
CONTAINING EMPLOYEE
WISE INCOME TAX DATA
TO CREATE PSID
DEPOSITING
CHEAQUE TO FBR
REPRESENTATIVE
AT AUTHOURIZED
NBP BRANCH
OBTAINING CPR
FROM NBP
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OTHER ASSIGNMENTS
Maintaining data of vehicles of RGMs and Revenue department;
Arrangement of payment of third party staff before 1st
of each
month;
Yearly/semiyearly physical stock verification of stores/sub stores and
coordination with Headquarters for further submission of compiled
report;
Cash impress, temporary advance and adjustment report with OB on
monthly basis;
Maintain record/report of attendance of finance and revenue
department;
Issuing income tax certificates both to the employees and vendors;
Booking of monthly accruals;
Reconciliation and variance of monthly salary;
Reporting of “Advance to Suppliers” on monthly basis;
Fuel, electricity report on monthly basis;
Quarterly head count report of CPEIs third party staff;
Bank reconciliation statements of both Disbursement and other than
revenue account;
Sales tax report;
Income tax report on weekly/ monthly and annual basis
Proposal of annual operating budget
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Bank ceiling region wise including salary ceiling on monthly basis;
Budget forecasting;
Region wise and Division wise monthly expenditure statement;
Detailed event wise store and cash analysis of regions;
Extracting ZGSTOT report from SAP along with GLs;
Obtaining information from vouchers including;
Invoice bill number
Invoice date
Total number of invoices in a voucher
Reconciling GL amount with amount appearing in report;
Incorporating sales tax codes during parking of bills;
Settlement of sales tax related issues in coordination with
Headquarters.
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The whole experience of working at PTCL was great. This organization has
a well maintained work culture, great minds and very high quality of work.
I learned a lot of experienced from this organization. The work I could
complete here was very satisfactory. I have tried to develop as many add-
ons as possible for PTCL and even got very encouraging results with some
of them. I hope my work on PTCL will help me to meet the future goals in
my career. I feel pleasure that I have really gained a lot during 6 weeks and
enjoyed working with experienced, co-operative staff.
CONCLUSION