Providing Consultancy services to the HPSLDC office

Amount

Providing consultancy to the HPSLDC for accounting related activities for FY: 2019-20 and FY: 2020-21.

Providing services for accounts completion and finalization for FY: 2019-20 comprising of below mentioned activities: a) Transfer of assets from HPSEBL: Providing necessary guidance/ consultancy in adopting the ‘accounting standard methodology for valuation, transfer, accounting of such assets’ in the books of HPSLDC. b) Monitoring, Ledger scrutiny of entire accounts. i) Complete in-depth ledger scrutiny of Debtors i.e. receivables. ii) Complete in-depth ledger scrutiny of Payables. iii) Expenses Ledger scrutiny and booking of expense on accrual basis. iv) Revenue Recognition. v) Checking the ‘TDS reconciliation’ i.e. form 26AS reconciliation with accounts. vi) Checking of Bank reconciliation/ HPSEBL/ State entities payable. vii) Checking of depreciation working as per ‘Regulatory method as well as Income Tax provisions. c) Performing Balance sheet audit, which covers the activities viz. i) All assets and liabilities covered and included at appropriate value. ii) Verify that all items are appropriately classified into ‘Capital / Revenue’ classification. iii) The financial statements are prepared in compliance with significant accounting policies. iv) Disclosure of adequate notes to accounts and other required balance sheet disclosure. v) Verification of Fixed Assets register. d) Providing inputs and guidance for the process of obtaining ‘external account confirmation’. e) Report on the extent of filing of required statutory returns and payment of statutory dues within due date.

Providing consultancy services for Accounts improvement and bringing sustainability and professionalism in accounting activities of HPSLDC office, including accounts compilation/ completion, finalization for FY: 2020-2021, including manpower support of a certified and well qualified Chartered Accountant on full time basis during the office hours (10:00 AM to 05:00 PM) from 01.06.2020 to 31.05.2020 a) Assistance in setting up/ streamlining Accounting processes comprising of below mentioned activities: i) Designing the required internal controls/ framework for the preparation of financial statements. ii) Revenue Recognition Function. iii) Setting up ‘DSM related accounting’ and procedures, reporting’. iv) Setting up PO tracking function. v) Setting up the processes for ‘Accrual of expenses’. vi) Setting up the processes for ‘Funds Planning, Investment of surplus funds and Payments initiation’. vii) Setting up the processes for ‘Statutory Compliances and reporting’. b) Setting up and designing of Accounts Management Information System (MIS) comprising of below mentioned activities: i) Designing the required “Accounts and Finance” Management Information System (MIS). ii) MIS to be in synched with overall organization objectives and goals. The said task requires close interaction needed with senior management, officials in preliminary planning and MIS specifications. c) Setting up the processes of Quarterly Closure of Accounts and Staff Training comprising of below mentioned activities. i) Training of existing staff on Tally-9 Software, its basic functions, advanced features, report generation, customization, Tally access controls and ‘Compliance framework training’. ii) Identifying training needs of accounts staff on other soft skills such as ‘advance excel’, ‘basic work management’, ‘problem –solving skills’. iii) Defining the ‘Staff roles, job descriptions and responsibilities’, defining ‘reporting relationship’, system for ’performance measurement’. iv) Setting of the procedures for monthly closure of accounts, observance of the same and documenting the same. d) Setting up the processes of ‘Internal Audit and risk assessment’: The assignment will cover internal audit for last 02 quarters of FY 2020-2021 and reporting will be on quarterly basis, activities are as follows: i) Assessing on-going business risks. ii) Checking of controls through sample testing. iii) Process validations, reporting on statutory compliances. e) Exploring the options for ‘developing tools i.e. automation (Tally-9 Software bridge)’ for creating the interface between ‘SAMAST Software and Tally-9’. The said task will cover ‘exploring the options of avoiding duplication of efforts’ for SAMAST as well as Tally Accounts. If feasible, assisting, coordinating etc. for creation of the ‘utility/ Tally-9 bridge’ for importing the transactions from SAMAST Software to Tally-9 software. The cost of subscription for ‘Online tools’ etc. will be borne by HPSLDC. f) Full time support of qualified manpower support: Providing the support of certified and well qualified Chartered Accountant from the period 01.06.2020 to 31.05.2020. CA has to attend the HPSLDC office on daily basis in the office hours i.e. 10:00 AM to 05:00 PM. The screening, interviewing, background check etc. of the candidate shall be in the purview of HPSLDC.

T V Padhye and Co