Week ❹

by Nicholas 11:05 PM 0 comments

Hello!!! As Deepavli falls on Tuesday this week, I had an essential one day break to recharge myself before continuing the week. As usual, this week was filled with numerous tasks, every one being an important learning experience for me. I felt that every task, no matter how minor, had it's own learning point and purpose. For example, I had to check through files after files of payment vouchers to ensure that signatures of the warehouse department are signed on the work order forms this week.

But first, let me explain the whole process before you guys get confused. Firstly, when a customer place an order with us, we would issue a sales quotation to the customer. After the customer has approved and confirmed the quotation, we would proceed to issue the purchase order and work order form to the supplier, prompting them to deliver us the goods. After the goods have arrived, we would have to enter it into the accounting software, SAP. This process is called goods received notes and it is done for us to keep track of our inventory data. Thereafter, we would draft the tax invoices and delivery orders and await our delivery man to deliver the goods to the customer. A few screenshots of the SAP accounting software is below.

Overview of SAP

Purchasing Tab in SAP

Sales Tab in SAP

However, as this is a very complicated and tedious process, a lot of commitment is required by each department to ensure that the complete process is properly done. Therefore, as the warehouse department is always overwhelmed with stocks coming in and out of the warehouse, it is difficult for them to ensure all work orders are signed. Now, I understand that you'll will feel that checking if signatures are signed is a mindless tasks and I shouldn't even be talking about it. However, as a company, United BMEC must ensure that the complete process is properly done because auditors, simply defined as people appointed and authorized to examine accounts and accounting records, will be examining our accounting records.

Initially, I felt that it was a necessity for every company in Singapore to be audited. However, I felt that it was a hassle and failed to understand why companies must abide by their regulations. But, Mr Chee, my liaison officer explained to me that companies that have been audited will become more "trustworthy" in the market. This would allow the company to be more highly valued as compared to companies that have not been audited.

This week has been filled with many interesting experiences and I feel much more knowledgeable in a real business company in addition to the textbook theories and formulas that I have learnt in Singapore Polytechnic. I would love to share more but I'm sure you guys are getting bored already! I'll tell you'll more next week!