Payment Weeks

To    : All Business Unit Heads/ Head of Departments/ Accounts Department

Cc    : Dato Dr Patrick Teoh, Mr Teoh Seng Aun, Mr Kenneth Teoh

Fr    : Corporate Finance and Accounts (CFA)

Date    : 31 March 2009

 

Re    : Payment weeks

In line with the re-organisation of CFA department and in order to seek better alignment with the logistic, request and release of cheque payments, we would like to proposed to fix a timing for the following Jaya One Accounts team for the following company with effect from 15^th of April 2008 based on the following "Payment Approval Process"

The Head will be given

1. Receivable O/S
   
2. Payables O/S
   
3. Current Bank Balance
   
4. Routine Monthly Commitment Payment such as salary, Hire Purchase, Shell Card, Phone, Rentals, Utilities and Bank Loan etc
   

With that CFA shall then only proceed to prepare payment. This will ensure that the Head will be able to plan for collections and payments based on cash flow available

Company	Reviewed by	Approved for Payment
	Accountant/ GM	BUH		MD
Super Force	AW	VT		TSA
Publication	AW	VT		TSA
Pan Court	AW	PT		TSA
Tirai	AC/AW	TSA		NA
Casa Andaman	AC/AW	TSA		NA
Cova Villa	AW	ChaiCS		TSA
Cova Square	AW	ChaiCS		TSA
Casa Subang	AW	ChaiCS		TSA
LT Travel Cyber	Vincent/AW	KT		TSA
SPSB and MCM BP	AC/AW	TSA		NA
Andaman Solutions	AW	TSA		NA
Andaman E Plate	AW	TSA		NA
Andaman Bara	AW	PT		TSA
Andaman Property	AC/AW	TSA		NA
Pharma	AC/AW	TSA		NA
Antaramont	AC/AW	TSA		NA
Andaman Consolidated	AC/AW	TSA		NA
LT Travel	Christie/AW	KT		TSA
Fairy Park	Lee TY	PT		TSA
Youtheme			Not maintained by CFA

With exception of payroll, all other payments must be supported with the above approval prior to cheque issuance unless a memo is being obtained from the BUH approved by the MD

	Week 1	Week 2	Week 3	Week 4
Casa Andaman	Closing of Accounts	Suppliers Staff Claims Rental Utilities Admin Payments	Update of accounts GRR related payments	Payroll
Andaman Property Services	Closing of Accounts	Update of accounts	Update of accounts	Payroll Suppliers Staff Claims Utilities Admin Payments
Pharma Exel	Suppliers	Suppliers Staff Claims Utilities Admin Payments	Update of accounts	Suppliers Payroll
Super Force	Closing of Accounts	Payroll OT Suppliers Staff Claims Rental Utilities Admin Payments	Update of accounts	Payroll
Cova Villa Sdn Bhd	Closing of Accounts	Suppliers Staff Claims Rental Utilities Admin Payments	Update of accounts	Payroll
Cova Square Sdn Bhd	Closing of Accounts	Update of accounts	Update of accounts	Payroll Suppliers Staff Claims Rental Utilities Admin Payments
Casa Subang Sdn Bhd	Closing of Accounts	Update of accounts	Update of accounts	Payroll Suppliers Staff Claims Rental Utilities Admin Payments

	Week 1	Week 2	Week 3	Week 4
Andaman Publicn	Closing of Accounts	Update of accounts	Update of accounts	Payroll Suppliers Staff Claims Rental Utilities Admin Payments
Pan Court	Closing of Accounts	Update of accounts	Update of accounts	Payroll Suppliers Staff Claims Rental Utilities Admin Payments
Andaman Bara Andaman Solutions Andaman E Plate	Closing of Accounts	Update of accounts	Update of accounts	Payroll Suppliers Staff Claims Rental Utilities Admin Payments

 

CFA Execs to note	Accounts Executives to provide Business Unit Head upon reviewed by Accountant Cash on Hand Status Less Routine monthly budgeted expenses Receivable listing Payable Listing
Business Unit Head and Dept Head to note	Duly approved payment list of the month to be furnished by 1200pm Fri of preceding week	Duly approved payroll and consultancy fee details to be furnished by 1200pm Fri of Week 3

 

All cheques shall be prepared and released to the Head by 1:30 pm every Friday of the Payment Week. The above will take effect wef 15 April 2009 to reflect the current arrangement. We wish to seek you cooperation in order for both CFA and the relevant business units to achieve efficiencies and effectiveness. Kindly re-adjust your processes to stream lined with the dates set herewith for any request of payment. Should you require clarifications, please communicate with me directly

 

Thank you

Original copy signed and dated 7th April 2009	Original copy signed and dated 7th April 2009
Date: Teoh Seng Aun Managing Director Andaman Group	Date: Alex Wong GM CFA Andaman Group