University Of Kelaniya

Faculty of ScienceDepartment of Mathematics

Professional/Industrial Placement (PRPL 31012)

Industrial Training ReportSubmitted ByP.L.S.D Sigera

Student No: PS/2012/179

Training Period From 1st of February to 15th of March

Training Establishment

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Regional Finance and Collection Section

Sri Lanka Telecom, No: 51/3/1, Asset Arcade Premises, 3rd Floor York Street

Colombo 01

ACKNOWLEDGEMENT

I would like to take this opportunity to express my gratitude to all ladies and gentlemen who have given their maximum involvement to conclude the professional placement at Sri Lanka Telecom (SLT) successfully.I was trained in Regional Finance and Collection Section in Sri Lanka Telecom and all the staff members contributed their maximum to me throughout the training period. Especially sectional heads guided me to extractthe maximum out of the each section.The Finance and Collection section of SLT is highly productive and mine of knowledge for enhancing the skills and financial know how of any apprentice. I would like to express my sincere gratitude to Mr. Indika Peiris, Deputy General Manager-Regional Finance and Collection (M &R2) of SLT and his fellow staff for guiding me to acquire the related financial knowledge and real life application of the theories which were thought during the course. In addition I am very much pleased to acknowledge Mr. Kathriarachchi, Assistant Accountant. Added to that I would like to give my regards to all other staff members for the support they have given me throughout the session. Further, it is a must to thank the training planning sections of SLT. For arrange my Training and necessary introductions to carry out our chores during the whole training period.

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Finally, I would like to express my sinceregratitude to Senior Lecturer. Mr. N.G.A .Karunathilake,Head of the department, Department of mathematics, Faculty of Science, University Of Kelaniya for guiding me throughout the training period.

Thank you,P.L.S.D Sigera,Faculty of science,University of Kelaniya.

CONTENTS

Acknowledgement 2Contents 3List of figures 4List of tables 5List of abbreviations 6

Chapter 1 INTRODUCTION1.1Introduction of my training session

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3

1.2 Introduction of SLT 8

Chapter2 REGIONAL FINANCE AND COLLECTION (M&R2) 2.1 Introduction 10 2.2 Sub Units 11Chapter 3 THE STRUCTURE OF THE SECTION 3.1 Table 12 3.2 Duties of Cashier 13

LIST OF FIGURES Figure 1.1 SLT logo 8Figure 1.2 The structure of the section 12

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LIST OF TABLES

Table 1.1 All island collection and reconciliation process 145

Table 1.2 Bank collection reconciliation HSBC & SEYLAN 15Table 1.3 Preparation of commission statements for payment approvals for 16 ABANSTable 1.4 Bank collection and bank reconciliation process (HSBC & SEYLAN) 17Table 1.5 Cashiering of not updated payments /manual receipt payments 18

LIST OF ABBREVIATION

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IDD-International direct dialingDGM-Deputy general managerCDMA-Code division multiple accessCODA-the software that the information of customers includes (Exclusively)GENEVA-the software that the information of customers billing payments (Exclusively). COGNAS- a reportJE- It’s corrected paymentsGM-General ManagerAsst.Acct-Assistant AccountantSAM-Senior Assistant Manager

CHAPTER 01-INTRODUCTION

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1.1 INTRODUCTION OF MY TRAINING SESSION

Under the course PRPL 31012-Professional Placement I was assigned as an apprentice at Sri Lanka Telecom PLC, Colombo 01.for a period of 6 weeks. From 01/02/2016 to 15/03/2016 by the department of mathematics, Faculty of Science, University of Kelaniya.

1.2 INTRODUCTION OF SLT

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Sri Lanka Telecom PLC.SLT is one of Sri Lanka’s most valuable blue chip companies with a market capitalization as at 31 December 2015 topping Rs.84billion.Sri Lanka Telecom is the national ICT solutions provider and the leading broadband and backbone infrastructure services provider in the country. The two main Sri Lanka Telecom as at year end were the government of Sri Lanka Telecom which held 49.5% through the secretary to the Treasury and Global Telecommunication Holdings N.V of Curacao, which owned a 44.98% stake. The balance shares are publicly traded.

Fig 1.1 SLT logo

SLT-VISION

All Sri Lankans seamlessly connected world class information, communication and entertainment services.

SLT-MISSION

Your trusted and proven partner for innovative and exciting communication experiences delivered with passion, quality and commitment.

SLT-VALUES

Customer caring-Put customers at the centre of everything SLT to do

Trustworthy-True to SLT promises

Innovative-Continuously invent new opportunities through creative thinking

Responsive-Ready to listen and act promptly

Teamwork-Act as one team with a common purpose to achieve common goals

Excellence-Committed to exceptional performance

Results Driven-Committed to enhancing shareholder value

SLT-SUBSIDIARIES

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SLT Human Capital Solutions (Private) Limited SLT Property Management (Private) Limited SLT Publications (Private) Limited SLT VisionCom(Private) Limited Sri Lanka Telecom (Services) Limited SKY Network(Private) Limited Mobitel (Private) Limited

SLT –CUSTOMER PACKAGES

SLT provides various kinds of packages to their customers. They introduce technologies for the satisfaction of their customers. More than this they provide 24 hours customer services for reduces the inconvenience of

telecommunication.

1. Mega line Single play, double play and triple play offering for telephone, Broadband and PEO TV Enabling the customer to choose the combination that is appropriate for envisaged usage. Value added service also included.

2. Broadband Ten broadband packages available in the market to enable user to choose one that suits their specific

needs.

3. PEO TV Platform for best of local and international news and entertainment from around the world This offers new features such as digital quality pictures, time shifted TV, Rewind TV and etc.

4. IDD

ALL SLT residential phones are now IDD enabled and 232 number of countries connected with direct links to provide better quality international service.

CHAPTER 02-REGIONAL FINANCE AND COLLECTION (M&R2) (Colombo 01)

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2.1 INTRODUCTION

This is the main section of SLT .that the entire data customer used is transferred for credits. By that, The Company is got a main part of revenues. That is called Regional Finance and Collection section (M&R2) (Metro and Regional).

This section has been separated for some units, According to some tasks. I was in a section that below objectives are provided for the finance of SLT.That’s done.

Cheque and credit card payment center. Data and other operations. Reconciliation. Customer caring. Handling the task of providing instruments (something like CDMA Phones…

etc) for Teleshops around Sri Lanka. Solving all the problems of customers about billing and banking. So they

can pay their payments to this section as a customer counter. M ticketing Service Providing Reloads

2.2 SUB UNITS

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The section of Regional Finance and Collection is divided into some units.According to tasks.

They are,

Cheque and credit card payment centre Revenue Section- Data and Other operations unit, Business customers

unit Recovery Section-Regional recovery unit, Metro Recovery unit Collection and Credit control section –Credit control unit, billing co-

ordination unit, High Revenue unit.

CHAPTER03-THE STRUCTURE OF THE SECTION

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3.2 DUTIES OF CASHIER

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GMDGMAsst. Acct.STAFFSAMFigure 1.2

1. Accept payments from customers.

2. Enter customer details accurately.

3. Accept Mobitel payments.

4. If there are cancellations produce documents to the administrator for cancellation.

5. Reconcile counter reports with physical balance.

6. Transfer credit card balance to the relevant bank.

BOC

SAMPATH

HSBC

AMEX

Procedure name

Flow Chart  Detail Description

14

AL

L IS

LA

ND

CO

LL

EC

TIO

N

RE

CO

NC

ILA

TIO

N P

RO

CE

SS

  1 Start.

  2 Collect revenue reconciliation from Provincial Accountant.

  3 Enter each data to excel sheet

  4 Browse CODA System for bill collections entered by Provincial Accountant for verification of above (2) report.

  5 Generate SQL report for bill collection.

  6 Generate SQL report for MISC collection.

 7 Generate SQL report for MOBITEL collection.

  

8 Enter Coda browse details (bill & MISC) to XL sheet (step 3 XL sheet) 

 9 Reconcile.

  

10 Find mismatches.   

11 Collect explanations for differences.  

12 Corrections made itself or referred to Provincial Acct. for corrections in next month. 

 13 Print final reports

  

14 Approval Given   

15 File the documents & End 

ALLISLAND COLLECTION AND RECONCILLATION PROCESS

BANK COLLECTION RECONCILLATION HSBC & SEYLAN

Procedure name Flow Chart   Detail Description

15

RevenueReconciliation

1

2

4

5

3

8

9

6 12

12

11

15

10

YesNo

Yes

14No

7

Ban

k C

olle

ctio

n R

econ

cilia

tion

HSB

C &

Seyl

an  1 Start.

  2 Collect/run SQL report.

  3 Browse Coda 2260 A/C.

  4 Collect bank collection summary report form AO (10406)

  5 Enter both 2 & 3 details to 'XL' sheet.

  6 Reconcile.

 7 Corrections make as per information received form bank

collection unit.  

8 Prepare bank revenue reconciliation report.  

9 Print.  

10Send for authorization.

    

11 Authorization.  

12 End. 

Procedure name Flow Chart   Detail Description

PRE

PAR

AT

ION

OF

CO

MM

ISSI

ON

ST

AT

EM

EN

T

  1 Start.

  2 Received the Commission Calculation Details

16

12

4

5

3

7

6

8

9

11

10

12

1

2

3 7

6

S FO

R P

AY

ME

NT

APP

RO

VA

L A

BA

NS

  3 Calculate the Commission And Confirm

  4 Received the Commission Invoice

  5 Prepare the Vouchers with Details for the Invoice

  6 Authorization.

 7 Send the Voucher for Payments

 

 8 Collect the Payment Cheque And Delivered

 

 9 End.

 

PREPARATION OF COMMISION STATEMENTS FOR PAYMENT APPROVAL ABANS

BANK COLLECTION AND BANK RECONCILATION PROCESS (HSBC & SEYLAN BANK)

Procedure name Flow Chart   Detail Description

BA

NK

C

OL

LE

CT

ION

B

AN

K

 

1 Start.

17

1

2

3

RE

CO

NC

ILA

TIO

N P

RO

CE

SS

( HSB

C &

SE

YL

AN

BA

NK

)  2 Collect bank statements from HSBC & Seylan Bank.

  3 Collect bank collection report from Bank Collection Unit.

  4 Reconcile bank statement with the bank collection report

  5 If differences are identified, check with the bank or check with bank collection unit

  6 Pass JE for differences or inform bank to correct them.

 7 Prepare the bank reconciliation

 

  8 Generate COGNAS report and get the balance for that account. (CODA Balance)

 9 Check the CODA balance with the balance of the

reconciliation.  

10 If there is a difference repeat from step 4.  

11 Send for authorization.  

12 Authorization.  

13 Send a copy to fund management unit and file the document. 

     

     

Flow Chart   Detail Description

 1

Receive complaints       2 Enter to the register       3 Classification     

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2

3

4

12

13

  4 Collect relevant documents       5 Get approval from relevant party       6 Cashiering       7 File the original receipts       8 Refer documents to verification at the end of the month.

               

                               

        

CASHIERING OF NOT UPDATED PAYMENTS/MANUAL RECEIPT PAYMENT

19

Table 1.5

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