Internship scope:
- Controlling, booking and reconciling the postings and cash movements registered selling points per day.
- Controlling, booking and reconciling credit card transaction,
- Controlling, booking and reconciling miscellaneous payment modes like airline vouchers
- Controlling daily cash flow (bank issues),
- Support cost controller by stock control.
- Filing and documentation.
- Create proforma invoices for accounting.
- Supporting the monthly and periodical closing activities.
- Tracking and weekly reporting employees’ differences.
- Checking recipes.
Filing system allows the business to access important information quickly and efficiently. It helps employee in a business to save time, keep orders and creates an effective system of accessing information. The company employs various filing systems;
- Alphabet filing: The records are arranged in dictionary order, according to the name of the department. This system works well when having a small number or records to store.
- Numeric filing: This system arranges files in sequential order. Every file is assigned numbers, which eliminated the problem of duplicate headings. This system is employed where the organization handles a large number of files.
- Color-coded filing system: Files are categorized and assigned to each category a specific file color. This system works well for departments that have more files like finance.
- Computer filing: computers hold millions of files of various types. Always it is recommended to back up computer files in case the computer malfunctions. Each department practices this type of filing
Various files are recorded which has the following information.
- Employment: it contains blank and completed application; training materials and orientation, work schedules, employees’ reports and complaints must be clearly indicated and kept in a file. This is helpful in regards to termination. The employee file should contain health records and social security numbers.
- Vendors: the vendor file is divided into food, liquor, beer, beverage and restaurant supply categories. The files must include copies of order forms, contracts, and receipts, delivery schedules, pricing structures, contact names and phone numbers. This kind of file is stored close to a delivery door.
- Insurance: It contains copies of policies and the contact information and names of the insurance agent for each policy. Also it includes a renewal chart indicating when policies need to be reviewed. It is recommended to store a copy of insurance files away from the site in case of any emergency.
- Building and maintenance: The file for maintenance and repair record including a list of cleaning, trash removal, recycling, and electrical repair services providers. The vendors providing these services must be placed where any employee can quickly access them.
- Injury and incident: A file should be created including reports of employee related injuries. In the file it should clearly indicate the cause of the injury, the action taken and the outcome
When managing the files , always saving unnecessary documents must be avoided, follow a consistent method for naming files and folders, stores related documents together, separate ongoing work from completed work, avoid overfiling folders and a digital copies of paper documents with a scanner.
When documenting, the following steps should be followed:
- Identify the key of the system: The operations of the business must be separated into various categories known as the Seven Centers of Management Attention. This is approached by bearing in mind one department or operational unit by time. All the important tasks, functions and actions must be listed down.
- Draw up a system diagram: All diagrams of the system in the business should be created. It should show the present systems and those need to be created. This system diagram helps to achieve the business’s vision.
- Prioritize business system listing: All systems should be listed on a worksheet which becomes a functioning document for scheduling and monitoring business.
- Assigning accountabilities for documenting the system: This involves delegating some functions to manager or staff. It assist one to emphasis on the important systems that once employed they have greatest influence on enhanced workflow.
- Develop and use a standard approach for documentation: The staff should be provided with a standardized system for documentation in order to guarantee the utmost degree of uniformity.
Info Entrepreneurs stated that stock control is used to show how much stock someone has at any one time and how to track them. This is practical to every item used to yield a product or service, from unprocessed material to finished good. It covers stock in the complete chain of production process. Effective stock control permits the business to have the correct stock in the right place at the right time and guard production if a problem rises in the supply chain. Different methods are considered to provide a competent system for determining what, when and how much to order. When controlling the stock various methods are used:
- Least stock level which pinpoint a minimum stock level and re-order when that level of the stock is reached,
- Stock review which involves regular reviews of stock of which at every review an order is placed to return stocks to a predetermined level,
- Just In Time (JIT) where items are delivered when they are needed and used immediately.
Also barcodes are used in stock control whereby the codes .It is the best methods since the process is much easier. Radio Frequency Identification (RFID) tagging is also used since the product or item is tracked continuously while in the chain. A computerized system is the best for businesses that deals with varieties of stock.
Quality control is essential aspect of stock control, especially on the finished product. Efficient stock control must incorporate stock tracking and batch tracking as it will help to trace a particular item backward or forward from source to finished product. Items should be checked systematically for quality, fault identification and the affected batch weeded out. This allows one to raise any problem with the supplier and demonstrate the safety and quality of the product.
When documenting for food inventory, it should be started right from the receiving of the order. Items documented should indicate personnel in charge of receiving and must be signed. Once received, the food must be stored. When storing, foods must be kept according to storage condition to meet supportable usability and the staff must be informed when food items are in a state of going bad and special menus to minimize perishable stock quantities .
Proforma invoices are not recorded as an account receivable by the seller nor recorded as an account payable by the buyer. This is due to the fact that the Proforma invoice is a document that affirms the seller’s assurance to provide the goods or services stated to the buyer at a certain price. Always proforma invoices are marked with the word ‘This is not a VAT invoice’ since they are not VAT invoices and a proper VAT invoice must be issued if the recipient accept the goods or services offered in the proforma invoice.
Posting in accounting software, Navision, simplified the accounting task since it is faster and reliable. The software is designed with a clever system known has “Sum Index Flow Technology” (SIFT) which aids to update all vendors, customers, account and item total automatically any time a transaction is posted. Also, it is reliable since it retains database integrity and it has an in- built drill-ability of the product that permits the user to manage faultlessly from business statement down to foundation of the document.
Tracking employees should be done to determine the hours worked. This is done by swiping a timecard anytime during the day or recording day worked on a time sheet. An employee must swipe the plastic card anytime he starts or stops work. Employee’s record should clearly indicate the hours worked each day, holiday and whenever sick. The employee’s details captured determine his/her payment.
When checking a recipe, all lists of ingredients and the amount of each ingredient must be written down, the nutritional information for each item looked up and noted down in a separate columns for easy tracking.
Handling cash, the amount received is noted down. Determine whether the cash received is used to make payment or placed in a designated secure location waiting for proper deposit slip to the bank. When credit cards are received, the transaction date, amount and payee name must be noted on the charge form.
Monitoring cash flow is assessed by relating the number of the unpaid purchases to the total sales due at the end of the month. More cash spent indicates that there is a cash flow problem. Also, by setting up a budget assist in monitoring the cash flow, where money taken out of the cash flow kitty, must deduct the monetary number from the budget group and also include the use of the money meant for. Finally by the use of daily cash flow monitor form where the information of where the cash goes on a daily basis is written down.
When solving a problem, one may use analytical thinking or logical thinking which includes ordering, contrasting selecting and evaluating. It offers a reasonable outline for problem solving and aids to choice the best alternate. In critical thinking, it requires one to look beyond the obvious to come up with many ideas to reach the solution. Once the skill has been chosen to solve the problem, the problem has to be identified, be evaluated to clarify its nature and enough information about it must be gathered. Then the problem is managed by using the information gathered, broken down into smaller manageable parts, get analyzed and the step is identified to achieve the objective. The decision is made for the possible option to be taken and basing on the option taken, the information is provided to the concerned person. Finally the outcome for the decision taken must be monitored to examine the result.
Finally, Laissez Faire style is extensively employed in the company since it gives the team freedom to complete the task the way it should be carried out. The style only allows the manager to provide the guidance as needed. It helps develop individual contributors into leaders making the team stronger in the long run. Sometimes this style leads to conflicts as others will dictate others how the work should be (Management Styles).
Works Cited
Info Entrepreneurs. "Stock control and inventory | Info entrepreneurs." Info entrepreneurs | Info entrepreneurs. N.p., n.d. Web. 19 Jan. 2013. <http://www.infoentrepreneurs.org/en/guides/stock-control-and-inventory/>.
Jain, Jain P L. Quality Control and Total Quality Management. Tata McGraw-Hill Education, 2001.
" Management Styles." Welcome to Learn Management 2.com. Learn about management here. Free management lessons and revision notes.. N.p., 16 Dec. 2009. Web. 19 Jan. 2013. <http://www.learnmanagement2.com/leadership%20styles.htm
