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= Managing Finance of the Company

= Standard Operating Procedure

 

Created: 8th July 2002

 

 

 

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Table of Content

 

1&= nbsp;     Amendments= . 2

2&= nbsp;    Managing Cash Flo= w... 2

2.1      Managing Account Receivable Functions= . 2=

2.1.1       Billings 2

2.1.1.1     Work-in-progress Billing. 2

2.1.1.2     Chargeable Expenses Billing. 3

2.1.2       Collection. 4

2.2      Managing Account Payable Functions. 5=

2.2.1       Credit Terms 5

2.2.2       Pay On Time 5

2.3      Managing Payments & Expenses. 5=

2.3.1       Payment Methods and their procedures<= span style=3D'color:windowtext;display:none;mso-hide:screen;text-decoration:none; text-underline:none'> = 5

2.3.1.1     Cheque Payments = 5

2.3.1.2     Nets Payments = 6

2.3.1.3     Cash Payments 6

2.3.1.3.1<= span style=3D'font-size:12.0pt;color:windowtext;text-decoration:none;text-underl= ine: none'>   Withdrawal from A= TM.. 6

2.3.1.3.2<= span style=3D'font-size:12.0pt;color:windowtext;text-decoration:none;text-underl= ine: none'>   Petty Cash= . 7

2.3.1.4     Direct Debits = 211; for salaries only. 7

2.3.1.5     Remittance= . 8

2.3.1.6     Credit Card Payme= nts = 8

2.3.2       Payment Periods 8

2.3.2.1     Bi-weekly payments 8

2.3.2.2     Urgent Purchases/Services = 9

2.3.2.3     Recurring Payments (Rental, Seasons Parking, Utilities, Phone bill) 9

2.3.3       Different Types of Payments = 10

2.3.3.1     Human Resources related payments = 10

2.3.3.1.1   Salaries and bonuses 10

2.3.3.1.1.1   Singaporeans 10

2.3.3.1.1.2   Permanent Residents 11

2.3.3.1.1.3   Expatriates 11

2.3.3.1.1.4   Bonuses 11

2.3.3.1.2   Subcontractor 12

2.3.3.1.3   Staff Benefits 12

2.3.3.1.3.1    Medical Expenses 12

2.3.3.1.3.2   Hospitalization and Surgery (H&S) Insurance. 12

2.3.3.1.4   Recruiting Costs 13

2.3.3.1.4.1   Relocation. 13

2.3.3.1.4.2   Buyout 13

2.3.3.1.4.3   Referral Fee. 13

2.3.3.2     Expense Claims 13

2.3.3.2.1   Chargeable Expense Claims 14

2.3.3.2.2   Non-chargeable Expense claims 14

2.3.4       Allocation of Fund for Expense Payments = 15

2.3.5       Budgeting and short term cash flow. 15

2.3.6       Managing Long Term Cash Flow. 16

3&= nbsp;    Updating the Acco= unts. 16

4&= nbsp;    Managing Auditing= of Accounts. 16

5&= nbsp;    Managing Tax Fili= ng..