UNIVERSITY OF ZIMBABWE

FACULTY OF COMMERCE
INDUSTRIAL ATTACHMENT LOG-BOOK

NAME OF COMPANY/ORGANISATION: Premier Service Medical Investments (Pvt) Ltd (PSMI).

NAME OF STUDENT…Wellington Mugura
REG NUMBER… R15864X
DEGREE PROGRAMME… HACC
PERIOD OF ATTACHMENT: October 2017- August 2018
NAME OF SUPERVISOR: Mr. E. Munengwa

TRAINEE SIGNATURE: WORK SUPERVISOR’S SIGNATURE:

DATE DESCRIPTION OF WORK DONE TRAINEE COMMENTS& RECOMMENDATIONS
OCTOBER  Orientation Comments
WEEK 1
The student was introduced to the finance During the course of the week, the student gets exposed to the
department, and allocated the immediate organisation’s systems and working environment through the
supervisor. induction process.
The student then signed the attachment contract,
which is a binding agreement to the contract.
Other department that makes up PSMI Group was
brought the knowledge of the student.
 Introduction to the Accounting System
The student was introduced to the accounting
system in place that he will be interacting most
with, such as the Navision, and the Paynet.

WEEK 2  Processing payments through the Paynet system. During the course of the week, the student learnt that:
The student processed payments in batches for  For a payment to be made there has to be supporting
approved invoices that were due for payment documentation such as an Internal Requisition, Order,
 Cheque disbursements and custody thereof. The Quotation and an Invoice all checked and signed by the
student disburses cheques to meet the petty cash responsible official.
requirements of LOBs.  In a computerised set up, manual documents should be
 The student also receipt cash exchanged for signed first, then the signatories approve in the system

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 cheques from other Units of the PSMI group. to allow the batch to be released for payment.
 The student also learnt that, cheque numbers should
always be coded so as to create an Audit trail, that is, to
keep a traceable record in the event that some cheques
are dishonoured by the bank.

WEEK 3  Filling. The student relabelled all the files and The student learnt that, proper office keeping makes it easy to
check for correspondence of the documents in the retrieve information from documents, and also reduces the risk
files with the file names. After that, the student then of losing confidential information unnecessarily.
arranged the files in order of the need of use per
instruction from the immediate supervisor. The student learnt that, coordination of business performance
is important for smooth operations. Through the daily tracking
 Consolidation of Management Reports. The reports, all the activities of the group are brought together.
student consolidated daily and weekly performance
tracking reports from all the Line OF Businesses
(LOBs) to produce the consolidated statement for
management meetings.

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WEEK 4 The student learnt that, for a payment to be made, there should

 Processing Payments. be original supporting documentation, (requisition, invoices,

The student processed payments for Hospital and
reconciliation of the vendors invoices) and authorisation
Diagnostics Cluster through the Paynet. Before
thereof.
processing, the student check for authorisation of
the vendors invoices. Then write the cheque request
form using the details of payments uploaded in the
The student also learnt that, a file for payments made should be
Pay net system then facilitate the signing and
kept for reference and also to avoid duplication of payments.
approval of the payments by the signatories.

 Posting of payments in the Ledger

The student learnt that, proper office keeping makes it easy to
The student posted payments made in the ledger.
retrieve information from documents, and also reduces the risk

 Filling of losing confidential information unnecessarily.

The student filed all the payments made. Also, filed
invoices from LOBs pending payment, this was
done demarcating invoices for each LOB, to
facilitate ease of use when making payments.

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DATE DESCRIPTION OF WORK DONE TRAINEE COMMENTS& RECOMMENDATIONS

November  Posting payments in Navision

WEEK 1  Petty Cash Reconciliations The student learnt that, when disbursing cheques, attention
 Consolidation of management reports should be given to cheque number and the recipient, so that an
 Receipting cash and custody thereof. The student Audit trail will be kept, especially for balancing Intercompany
receipted all the cash received from Units of the transactions.
Cluster using the receipt book.
 Cheque disbursement Also, the student learnt that, before making payments all
 Processing payments invoices to be paid should be thoroughly checked if they are
not paid before to avoid duplication of payment. This is
because some vendors might submit invoices already paid.

WEEK 2  Posting payments in Navision The student leant that, when posting payments in the system

 Petty Cash Reconciliations (Navision Dynamics), proper attention should be given so as to

 Consolidation of management reports avoid charging costs to wrong cost centres (LOBs), since this

 Receipting cash and custody thereof. will affect Intercompany balancing.

 Cheque disbursement

 Processing payments
WEEK 3  Posting payments in Navision The student learnt that, petty cash should be reconciled

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  Petty Cash Reconciliations periodically, showing all the receipts and expenditures made as
 Consolidation of management reports well as the closing balance which should equate to physical
 Receipting cash and custody thereof. cash on hand. The student also learnt, cash reconciliations form
 Cheque disbursement part of information in the Audit file. Therefore due diligence
 Processing payments should be exercised when dealing with cash.
 Filing

WEEK 4  Posting payments in Navision The student learnt that, cheque numbers should always be
 Petty Cash Reconciliations coded so as to create an Audit trail, that is, to keep a traceable
 Consolidation of management reports record in the event that some cheques are dishonoured by the
 Receipting cash and custody thereof. bank. Also coding will help to trace the cheque if it is posted to
 Cheque disbursement the wrong cost centre.
 Processing payments

DATE DESCRIPTION OF WORK DONE TRAINEE COMMENTS& RECOMMENDATIONS

DECEMBER  Posting payments in Navision The student learnt that, when receiving cash, a receipt should
WEEK 1

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  Petty Cash Reconciliations be issued to acknowledge the inflow of cash. The student also
 Consolidation of management reports noted that, this will aid in tracing fraud by adding all the
 Receipting cash and custody thereof. receipts, which should sum up to total cash received for the
 Cheque disbursement period.
 Processing payments
 Filing
WEEK 2  Posting payments in Navision The student learnt that, coordination of business performance
 Petty Cash Reconciliations
is important for smooth operations. Through the daily tracking
 Consolidation of management reports
reports, all the activities of the group are brought together
 Receipting cash and custody thereof.
 Cheque disbursement
 Processing payments

WEEK 3  Posting payments in Navision

 Petty Cash Reconciliations
The student leant that, when posting payments in the system
 Consolidation of management reports
 Receipting cash and custody thereof. (Navision Dynamics), proper attention should be given so as to
 Cheque disbursement avoid charging costs to wrong cost centres (LOBs), since this
 Processing payments
will affect Intercompany balancing and cost analysis.

WEEK 4  Posting payments in Navision

 Petty Cash Reconciliations The student learnt that, petty cash should be reconciled

 Consolidation of management reports periodically, showing all the receipts and expenditures made as

TRAINEE SIGNATURE: WORK SUPERVISOR’S SIGNATURE:

  Receipting cash and custody thereof. well as the closing balance which should equate to physical
 Cheque disbursement cash on hand. The student also learnt, cash reconciliations form
 Processing payments part of information in the Audit file. Therefore due diligence
should be exercised when dealing with cash.

DATE DESCRIPTION OF WORK DONE TRAINEE COMMENTS& RECOMMENDATIONS

JANUARRY  Posting payments in Navision The student learnt that, coordination of business performance
WEEK 1
 Petty Cash Reconciliations is important for smooth operations. Through the daily tracking

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  Consolidation of management reports reports, all the activities of the group are brought together.
 Receipting cash and custody thereof. Also performance tracking reports will help management to
 Cheque disbursement monitor
 Processing payments

WEEK 2  Issuance of stationery. I issued stationery to I learnt that, before issuing stationery, the requester should
different departments upon requests thus after being have stock requisition form fully signed by the Head of that
given a stores requisition form. department requesting stationery. This will help to keep track
 Issuing of fuel coupons. of movements of stationery, which will aid during stock takes.
 Writing payment request forms for purposes of Also, this will avoid issuing stationery that will not be used for
authorization of payments by the signatories. the benefit of the company, which is to prevent abuse for
 Filing of all fully authorized payments. personal gain.
 Preparing the fuel reconciliation.

WEEK 3  Issuance of stationery. I issued stationery to I learnt that, before issuing stationery, the requester should
different departments upon requests thus after being have stock requisition form fully signed by the Head of that
given a stores requisition form. department requesting stationery. This will help to keep track
 Issuing of fuel coupons. of movements of stationery, which will aid during stock takes.
 Writing payment request forms for purposes of Also, this will avoid issuing stationery that will not be used for
authorization of payments by the signatories. the benefit of the company, which is to prevent abuse for
 Filing of all fully authorized payments. personal gain.

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  Preparing the fuel reconciliation.

WEEK 4  Issuance of stationery. I issued stationery to I learnt that, before issuing stationery, the requester should
different departments upon requests thus after being have stock requisition form fully signed by the Head of that
given a stores requisition form. department requesting stationery. This will help to keep track
 Issuing of fuel coupons. of movements of stationery, which will aid during stock takes.
 Writing payment request forms for purposes of Also, this will avoid issuing stationery that will not be used for
authorization of payments by the signatories. the benefit of the company, that is, to prevent abuse for
 Filing of all fully authorized payments. personal gain.
 Preparing the fuel reconciliation.

DATE DESCRIPTION OF WORK DONE TRAINEE COMMENTS& RECOMMENDATIONS

FEBRUARY  Issuance of stationery. I issued stationery to During process of issuing fuel the requester would bring an
WEEK 1
different departments upon requests thus after being authorised fuel request form and I would then issue the
given a stores requisition form. required fuel and note voucher number for reconciliation
 Issuing of fuel coupons. purposes.
 Writing payment request forms for purposes of Also I learnt that, proper filling of documents is crucial, so that

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 authorization of payments by the signatories. it will be easier when gathering Audit evidence.
 Filing of all fully authorized payments.
 Preparing the fuel reconciliation.
 Posted invoices for various suppliers.
 Providing Information required by external
Auditors.

WEEK 2  Issuance of stationery. I issued stationery to I learnt that, before issuing stationery, the requester should
different departments upon requests thus after being have stock requisition form fully signed by the Head of that
given a stores requisition form. department requesting stationery. This will help to keep track
 Issuing of fuel coupons. of movements of stationery, which will aid during stock takes.
 Writing payment request forms for purposes of Also, this will avoid issuing stationery that will not be used for
authorization of payments by the signatories. the benefit of the company, that is, to prevent abuse for
 Filing of all fully authorized payments. personal gain.
 Preparing the fuel reconciliation.
WEEK 3  Issuance of stationery. I issued stationery to I learnt that, before issuing stationery, the requester should
different departments upon requests thus after being have stock requisition form fully signed by the Head of that
given a stores requisition form. department requesting stationery. This will help to keep track
 Issuing of fuel coupons. of movements of stationery, which will aid during stock takes.
 Writing payment request forms for purposes of Also, this will avoid issuing stationery that will not be used for
authorization of payments by the signatories. the benefit of the company, that is, to prevent abuse for

TRAINEE SIGNATURE: WORK SUPERVISOR’S SIGNATURE:

  Filing of all fully authorized payments. personal gain.
 Preparing the fuel reconciliation.

WEEK 4  Collection of office stationery from the warehouse.

 Issuing of fuel coupons.
 Writing payment request forms for purposes of
authorization of payments by the signatories.
 Providing information required by external
Auditors

DATE DESCRIPTION OF WORK DONE TRAINEE COMMENTS& RECOMMENDATIONS

MARCH  Issuing fuel coupons
WEEK 1
 Processing payments
 Posting Suppliers’ invoices
 Creditors reconciliations

 Value Added Tax compilation (VAT

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  Filling of all fully authorised payments.

WEEK 2  Issuing fuel coupons

 Processing payments
 Posting Suppliers’ invoices
 Preparing Creditors reconciliations

 Value Added Tax compilation (VAT)

 Filling

WEEK 3  Issuing fuel coupons

 Processing payments
 Posting Suppliers’ invoices
 Creditors reconciliations

 Value Added Tax compilation (VAT)

 Filling

WEEK 4  Issuing fuel coupons

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  Processing payments
 Posting Suppliers’ invoices
 Preparing Creditors reconciliations

 Value Added Tax compilation (VAT)

 Filling

 Stock take

DATE DESCRIPTION OF WORK DONE TRAINEE COMMENTS& RECOMMENDATIONS

APRIL  Issuing fuel coupons
WEEK 1
 Processing payments

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  Posting Suppliers’ invoices
 Preparing Creditors reconciliations

 Value Added Tax compilation (VAT)

 Filling

WEEK 2  Issuing fuel coupons

 Processing payments
 Posting Suppliers’ invoices
 Preparing Creditors reconciliations

 Value Added Tax compilation (VAT)

 Filling

WEEK 3  Issuing fuel coupons

 Processing payments
 Posting Suppliers’ invoices
 Preparing Creditors reconciliations

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  Value Added Tax compilation (VAT)

 Filling

WEEK 4

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DATE DESCRIPTION OF WORK DONE TRAINEE COMMENTS& RECOMMENDATIONS
MAY
WEEK 1

WEEK 2

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WEEK 3

WEEK 4

DATE DESCRIPTION OF WORK DONE TRAINEE COMMENTS& RECOMMENDATIONS

JUNE
WEEK 1

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WEEK 2

WEEK 3

WEEK 4

DATE DESCRIPTION OF WORK DONE TRAINEE COMMENTS& RECOMMENDATIONS

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JULY
WEEK 1

WEEK 2

WEEK 3

WEEK 4

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DATE DESCRIPTION OF WORK DONE TRAINEE COMMENTS& RECOMMENDATIONS
AUGUST
WEEK 1

WEEK 2

WEEK 3

WEEK 4

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