Financial Activities and Payment Procedures of edotco Bangladesh Co. Ltd.

Abstract

Finance department is an immense part of any organization. It deals with the financial activities of that particular organization. Without this department that organization cannot run the business smoothly. Internship program assists to attain realistic understanding along with scholastic understanding. Study is not complete without realistic details, and it helps to recognize genuine situation of study. I have obtained knowledge on the activities of finance department by getting chance as an intern in edotco Bangladesh Co. Ltd. I have worked there for three months as a prerequisite of internship part of BBA program under the Department of Business Administration of United International University. I have chosen the subject “Financal Activities and Payment Procedures of edotco Bangladesh Co. Ltd.” edotco is the first regional and integrated telecommunications infrastructure services company in Asia which is established in 2012 , providing end-to-end solutions in the tower services sector. As it works with network towers, it has to select sites for towers. Basically there are six existing towers categories. But it is trying to make innovative and technical products like aesthetic tower designs, carbon fiber structures and bamboo structure. Another effective product is energy which offsets the negative effect of diesel systems and fossil fueled grid power, while providing substantial alternative energy solutions to telecom operators. It reduces cost to maintain profit margins for our customers. edotco also focuses on renewable energy like solar system. echo and Fiber is including in product line-up. edotco has some policies to who wants to become a vendor under this organization. Under the policies, there have about wages and extra wages system, environment of company, uses of children, laws and regulations, corruptions, changing of policies and others. In all department, finance department is most important department in edotco. there are five sub-department under finance department. Site acquisition team is looking for the perfect sites to build the pillars. Supply chain management team manages that parties who supports to build the pillars. Account payable team works with all kinds of bills to put on raw data on IMS and RAPID. Corporate finance team deals with all bills to payment those bills. revenue team collects data from AP and CF to analyze for making business plan for the next one year. Basically there are five types of bill. They are- PO (Purchase Order) Bill, NPO (Non-Purchase Order) Bill, Petty Cash, Electricity Bill and Fuel Bill. It also has engineers and other workers who will work in the sites, parties who provides different particulars. Take services from Power Development Board (PDB), Palli BiddutSamity (PBS). All the parties with whom edotco works with sends bills for their service. All bills are cleared by IMS and RAPID though finance department. These things are controlled and maintained by the finance department.