DECLARATION

I undersigned RANJIT SINGH a student of Guru Nanak Dev University, MBA

3rdsemester, declare that summer internship project titled SETTLEMENT OF
ACCOUNTS IN TajSATS WITH SAP is a result of my own work and my /our
indebtedness to other work publications, references, if any, have been duly
acknowledged. If I am found guilty of copying any other report or published
information and showing it as my original work, I understand that then I would
be held liable and punishable by GURU NANAK DEV UNIVERSITY which may
include resubmission of report or any other information which university
decides.

Name of Student: RANJIT SINGH

Enrollment Number: 2016MGB1059

Signature:

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 ACKNOWLEDGEMENT
Achievement is finding out what you would be then doing, what you have to do.
The higher the summit, the harder is the climb. The goal was fixed and we began
with a determined resolved and put in ceaseless sustained hard work. Greater
challenge, greater was our effort to overcome it.

This project work, which is my first step in the field of professionalization, has
been successfully accomplished only because of my timely support of well-
wishers. I would like to pay my sincere regards and thanks to those, who directed
me at every step in my project work.

I would also like to thank the faculty members and the staff members of TajSATS
air catering ltd. for their kind support and help during the project.

Bearing in mind previous I am using this opportunity to express my deepest

gratitude and special thanks to Mr. Kamal Asharaf (Finance Manager) who in spite
of being extraordinarily busy with his duty, took time out to hear, guide and keep
me on correct path and allowing me to carry out my project in esteemed
organization and extending during training.

I perceive as this opportunity as big milestone in my career development. I will

strive to use gained skills and knowledge in best possible way and I will continue
to work on improvement, in order to obtain desired career objectives. Hope to
continue cooperation with all of you in future.

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 EXECUTIVE SUMMERY
The project report is based on the study of settlement of accounts using SAP in
TajSATS air catering ltd. The project includes the different aspects of accounting
such as accounts payable management, accounts receivable management using
accounting software SAP.

Account Payables Management refers to the set of policies, procedures, and

practices employed by a company with respect to managing its trade credit
purchases. Tajsats uses various policies, procedures for selecting appropriate
vendors for the company. There is a separate purchase committee for finalizing
the vendor list based upon quotations received from each vendor. Moreover, the
average payment period is calculated to know the performance of the company
that how much company is efficient in clearing accounts of its creditors.

Accounts receivable refers to the outstanding invoices a company has or the

money the company is owed from its clients. Tajsats uses the method of
debtor turnover ratio and average collection period to know how efficient the
firm is in converting its debtors into cash. Debtor aging method is used to
categorize its debtors according the credit period and make provisions for bad
debts.

For managing accounts receivables and accounts payable the accounting software
SAP is used.

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 TABLE OF CONTENT

Declaration
Acknowledgement
Executive summery
Chapter-1
Introduction
Chapter-2
Review of literature
Chapter-3
Methodology
Objectives of study
Research design
Need of the study
Scope of the study
Limitations of the study
Chapter-4
Observation & Discussion
Accounts Payable
Accounts Receivable
Chapter-5
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 Suggestion
Chapter-6
Conclusion
Bibliography
Annexure

List of figures

s. no. Figure Page No.

Figure 1 Sap modules

Figure 2 Specimen of
Purchase process
Figure 3 Specimen of
Purchase order
Figure 4 Specimen of
GRN
Figure 5 Specimen of
MIRO
Figure 6 Specimen of
Park document
Figure 7 Specimen of
Post document
Figure 8 Specimen of
Load entry
Figure 9 Specimen of
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 Zctb
Figure 10 Specimen of
Sales order no.
Figure 11 Specimen of
Va05
Figure 12 Specimen of
Upload stock
Figure 13 Specimen of
PGI
Figure 14 Specimen of
Sales analysis
Figure 15 Specimen of
Vf04
Figure 16 Specimen of
Vf02
Figure 17 Specimen of
Cover letter

List of tables

S. no. Table name Page no.

Table 1 Debtor aging

Table 2 Turnover ratios