A Project Report on Collection Efeciency (WBSEDCL)

8/19/2019 A Project Report on Collection Efeciency (WBSEDCL)

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Department Of Business Administration (Vidyasagar University)

1 Submitted by ABHIJIT PAUL

A Study on Collection Efficiency at WBSEDCL

Submitted by Abhijit Paul to the,

Vidyasagar University Department of Business Administration Dr. K.C Paul. This

project report is a result of my original work and not any part of the said reporthas been copied or duplicated nor has any project report similar to this one everbeen submitted to any of the universities or any other organizations. This reporthas been prepared for the partial fulfillment of the Master in BusinessAdministration (MBA) program (2014-2016), under Vidyasagar University.


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ACKNOLEDGEMENT

I feel very happy to take the opportunity to extend my heartily thanks to

Managing Director, WBSEDCL and Personnel Management, for allowing me toconduct my studies over the concern.

I am also thankful to all the executives of Personnel and otherdepartments of WBSEDCL for their co-operation, advise and suggestion and thosewho contribute to complete this research project paper in time.

I extend my heartily thanks to Mr. Gourav Kumar Bose , Asst.Manager (Finance) for her timely guidance to prepare this research project paper.


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CONTENT

CHAPTER I

Introduction Of The Study Account Receivable Management Credit Management

CHAPTER II

Introduction To The Company Company Profile

CHAPTER III

Need For The Study Objective Of The Study Scope And Limitation Of the Study Credit Policy and Practices At WBSEDCL

CHAPTER IV

Research Methodology Data Collection Method Tools And Techniques For Analysis

CHAPTER V

Data Analysis Interpretation And Findings


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CHAPTER I

1.1 INTRODUCTION1.2 ACCOUNT RECEIVABLE MANAGEMENT1.3 CREDIT MANAGEMENT


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1.1 INTRODUCTION Many Indian companies are caught in financial crisis of varyingdegree because of the less efficient working capital management. The objectiveof Corporate Excellence viz., Quality products, Satisfied Customers,Employees and Investors , Hig h prof i tab i l i t y and Comfo rt abl e fun dsposition etc., can be achieved through increased productivity of capital,particularly the working capital. Your bus iness has been reaping huge profitsfor years now, when all of sudden you find yourself in need of fast cash.If you have tried several solutions without success, you may be

interested in learning more about accounts receivable management.

1.2 ACCOUNTS RECEIVABLE MANAGEMENT:


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An account receivable is the money owed to a company by a consumerfor products and services purchased on credit. This is usually treated as a currentasset of accounts receivable after the customer is sent an invoice.Accounts receivable are known by various names, such as accounts receivable

aging, accounts payable, days receivable, accounts receivable turnover andinvoice factoring. According to the experts, accounts receivable or invoicefactoring is one of a series of accounting transactions. These accountingtransactions deal with the billing of cus tomers who owe money to a person,company or organization for goods and services purchased. If you areseriously considering using accounts receivable as a method of obtaininga more liquid asset, then it is wise to hire accounts receivablemanagement specialists. Accounts receivable management specialists can helpyou in a variety ways:

It can cut and maintain your average collection delay or DSO It can lessen your direct and indirect expenses It can considerably reduce your bad debt It can tell you various ways to take advantage of your cash-flow It can help you capitalize on your internal resources It can maximize your interventions on sales, service and market share.

Hiring the best accounts receivable management will clear up the commonmisconception that the selling of accounts receivable is a loan. Accountsreceivable are the amounts that customers owe a business; this is clearly shownon a company's balance sheet. Some also call accounts receivable tradereceivables and try to classify them as current assets. Accounts receivablemanagement’s main goal is to take care of all these debts and to record sales ofaccounts; one must debit a receivable and credit are venue account. Accountsreceivable management also looks into issues suchasrecogn iz ing accoun t s r ece ivab le , va lu ing accoun t s r ece ivab le , and disposing of accounts receivable.

1.3 CREDIT MANAGEMENT:


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Trade credit creates amount receivables or trade debtors also referred toas book debts in India tha t the f i rm is expected to col lec ted inn ear f u tur e . T he customers from whom receivables or book debts have to becollected in the future are called trade debtors. A credit sale has 3 characteristics:

Involves an element of risk that should be carefully analyzed. Based on economic value. Implies futurity.

Credit policy: Nature and Goals:A firm investment in accounts receivables depends on:

The volume of credit sales

The collection period.There is only one way in which the financial management can affect the volumeof credit sales and collection period, consequently invest in accounts receivablesthat is through the change in credit policy is sure to refer to the combinationof decision variables.

➢ Credit standards: Credit standards which have criteria to decide the types of customerswhich have criteria to decide the types of customers to whom goodscould be sold on credit. If a firm has more slow playing customers it’s invest inaccount receivables will increase. The firm will also be exposed to higher risk ofdefault.

➢ Credit terms: Credit terms specify duration of credit payment by customers. Investment inaccount receivables will be high if customers are allowed extended time periodfor making payments.

➢ Collection efforts: Collection efforts determine the actual collection period. The lower the collectionperiod is, the lower the investment in account receivables & vice versa.

➢ Goals of credit policy:


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A firm may follow a lenient or a stringer credit policy. The firm followinga lenient credit policy tends to sell on credit to customers on very liberalterms and standards credit is granted for longer periods over to thosecustomers who creditworthiness is not fully known or whose financial position

is doubtful.


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2.1 HISTORY AND DEVELOPMENT

CHAPTER II

2.1 HISTORY AND DEVELOPMENT

2.2 COMPANY PROFILE


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10 Submitted by ABHIJITPAUL

The Government of West Bengal has restructured the erstwhile WBSEB into twosuccessor entities, namely West Bengal State Electricity Distribution CompanyLimited (WBSEDCL) and West Bengal State Electricity Transmission CompanyLimited (WBSETCL), under the ownership of the State Government. The twoCompanies started functioning from April 1, 2007. WBSEDCL provides power to96% of West Bengal, catering to every sector — from ordinary villages to hugeindustrial units. It serves a customer base of more than 1 crore across WestBengal. The service network spans over 5 Zones, 17 Regional Offices, 53Distribution Divisions and 464 Customer Care Centers.

Meeting 80% of the state’s peak power demand, WBSEDCL has achieved a profit

of Rs 95.13 crore (PAT) in 2010-11. To mitigate short power supply and being anenviron-friendly corporate, WBSEDCL has set up Purulia Pumped Storage Projectwith a capacity of 900 MW hydel power.

Customer Relationship Management (CRM) has been introduced to addresscustomer grievances. Changed work culture and improved mindset has helpedthe Company move towards better customer care, with special focus on fast-tracksystems for commercial and industrial power. Major initiatives have improved

distribution efficiency. Hundred per cent feeder and DTR metering has beencompleted, transforming WBSEDCL into a techno-commercially viableorganization

Vision sON


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To Be The Best Power Utility In India -- In Terms Of Customer Service, EfficiencyAnd Financial Viability.Mission

Our Mission is to supply -- Uninterrupted and Quality Power to All

Board of director

Mr. Narayan Swaroop Nigam, IAS Chairman & Managing Director 033-2359 1915

Mr. Gopal Krishna, IAS Director 033-2248 1267

Mrs. Saswati Banerjee, IAS Director 033-2248 0680

Mr. Dipak Kumar Banerjee Director -Mr. Gopal Saxena Director -

Mr. Debashish Majumdar Director -

Mr. Tapan Kumar Majumdar Director -

Mr. Kalyan Kumar Ghosh Director (Finance) 033-2358 7627

Mr. Debidas Datta Director (Generation) 033-2321 9946

Mr. Tapan Kanti Rudra, IAS Director (Human Resources) 033-2359 1917

Mr. Ranjit Kr. Majumder Director (Distribution) 033-2359 1891

Mr. Niranjan Saha Director (Projects) 033-2359 8387

Award

4th India Energy Summit Award, 2010

India-Tech Excellence Award, 2010

2.2 Company Profile

http://www.wbsedcl.in/irj/go/km/docs/internet/webpage/Awards_Recognition.htmlhttp://www.wbsedcl.in/irj/go/km/docs/internet/webpage/Awards_Recognition.html


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Share capital:

The authorized share capital of the Company was 4050 crores.

The paid up share capital of the Company as on 31.03.14 was 2256.74crores.

Entire share capital of the Company is subscribed by the Governor of WestBengal and His nominees.

Deposits:

During the year, your Company did not accept any deposits from the publicunder section 73 of the Companies Act, 2013

INVESTMENTS:

New Town Electric Supply Company Limited (NTESL): NTESL is a franchiseeof the Company for distribution of electricity at New Town. The Company isan equity partner in NTESL with 50% shareholding agreement.

West Bengal Housing Infrastructure Development Corporation Limited (WBHIDCO): is the other equity partner of remaining 50%. The total equity

participation of the Company in NTESL is 4.94 crores.

West Bengal Green Energy Development Corporation Limited (WBGEDCL):

The Company is an equity partner in WBGEDCL. The participation of theCompany in WBGEDCL is 35% of the Paid up Capital equivalent to 1.75 crores.

Power Exchange India Limited (PXIL): The Company has executed a ShareTransfer and Shareholders Agreement with National Stock Exchange of IndiaLimited, National Commodity & Derivatives Exchange Limited and PowerExchange India Limited under which investment of a sum of 4.00 crores hasbeen made in PXIL.


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Corporate Social Responsibility:

The Company has a well defined CSR policy. The approach of WBSEDCLtowards Corporate Social Responsibility is oriented towards identification and

formulation of CSR projects/programmes as per statutory requirement and toimplement them with full involvement and commitment in a time boundmanner. In cases where other agencies/ organizations are involved, approachwould be to focus on collaboration and partnership. It will also provide financialassistance in the form of grant-in-aid assistance, contribution etc. The policy hasbeen displayed in the Company s website.

The scope of CSR activities as defined in the CSR policy are as under:

(i) eradicating hunger, poverty and malnutrition, promoting preventive healthcare and sanitation and making available safe drinking water;

(ii) promoting education, including special education and employment enhancingvocation skills especially among children, women, elderly and the differentlyabled and livelihood enhancement projects;

(iii) promoting gender equality, empowering women, setting up homes andhostels for women and orphans; setting up old age homes, day carecenters and such other facilities for senior citizens and measures for reducinginequalities faced by socially and economically backward groups;

(iv) ensuring environmental sustainability, ecological balance, protection offlora and fauna, animal welfare, agro forestry, conservation of naturalresources and maintaining quality of soil, air and water;

(v) protection of national heritage, art and culture including restoration ofbuildings and sites of historical importance and works of art; setting uppublic libraries;

promotion and development of traditional arts and handicrafts;

(vi) measures for the benefit of armed forces veterans, war widows andtheir dependents;


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(vii) training to promote rural sports, nationally recognized sports,Paralympics sports and Olympic sports;

(viii) contribution to the Prime Minister's National Relief Fund or any other fund

set up by the Central Government for socio-economic development and relief andwelfare of the Scheduled Castes, the Scheduled Tribes, other backwardclasses, minorities and women;

(ix) contributions or funds provided to technology incubators located withinacademic institutions which are approved by the Central Government;

(x) rural development projects.

The effectiveness of CSR activities will be evaluated by a CSR Committee ofthe Board with assistance from external agencies, if required, for gettingrequired feed-back and inputs to formulate and improve the CSR activities infuture. The CSR Committee consists of:

1 Shri Narayan Swaroop Nigam Chairman & ManagingDirector

Chairman of theCommittee

2 Shir Tapan Kanti Rudra Director (HR) Member3 Shri Kalyan Kumar Ghosh Director (Finance) Member

4 Shri Rajat Kumar Majumder Independent Director Member5 Shri Dipak Kumar Banerjee Independent Director Member

For co-ordinating the CSR activities and submission of recommendations onCSR proposals to the CSR Committee, a CSR Sub Committee has beenconstituted. The Sub-Committee will facilitate approval of CSR proposals andrecommend allocation of fund by the CSR Committee. During the year theCompany spent a sum of 83 lakhs (previous year 11 lakh) towards

Corporate Social Responsibility activity. The Board of Directors of theCompany has approved expenditure of 300 lakhs on Corporate SocialResponsibility activity which will be accounted for as and when spent.


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Key achievements:

During the current financial year your Company has achieved the followingbenchmarks:

1. In recognition to its efforts in power sector reforms, better distributionsystem and customer service the Company was conferred Power ExcellenceAward for the fifth consecutive year by Indian Chamber of Commerce.

2. The Company has gone online, introducing a host of services, includingnew connections and bill payment.

3. The Company has also launched initiatives like Total Quality Managementwhich will enhance efficiency with lesser transmission and commercial lossand better customer service. The HRD & training department has taken thisunique initiative for bringing in culture of quality atmosphere in the organization.

4. No. of customers of the Company reached 1 crore and thirty nine lakhs.

5. Release of new centralized bulk connections beyond 500 KVA at voltage level

of 11KV and higher level.

Staff Welfare:

Several steps were taken in the area of staff welfare during the year. TheCompany had taken up a number of initiatives for ensuring better health ofthe employees and their dependants by way of inclusion of renowned andreputed medical institutes in its approved list of hospitals and conducting

health check up camps and health awareness programme. The Companythrough its Staff Recreation Clubs participated in local and national level

sports events and cultural competitions as well as conducted annual sports.The Company provides Canteen subsidy at various units for the welfare of theemployees.

retired employees group mediclaim scheme 2014: There has been a longdemand of the retired employees to introduce post retirement medical


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benefits considering the high cost of medical treatment during old age. Thefeasibility of introducing such a scheme for retired employees on selfcontribution basis was examined and the mediclaim scheme on selfcontribution basis for retired employees was implemented in the Companyinitially for a period of one year. Scheme has become effective from 01/07/2014.

Industrial Relations:

The Company maintained healthy, cordial and harmonious relations at all levels.

Safety Initiatives:

Ensuring safety is one of highest priority issues for the Company. The set goal isto make it a Zero-Accident Company. Compliance of requirements ofSafety Regulations & Provisions is key to success. Policy functions in respectof Health& Safety formulated are being executed with all out effort. Safetymanual has been put in place with laid down policy in respect of safetymanagement for construction, operation and maintenance of electrical plantsand lines. Safety Films have been prepared and utilized for awarenessbuilding/education. Use of Personal Protective Equipment has been made

mandatory. Major causes of accidents have been identified and action planhas been advised to mitigate the same.

Safety is an integral part of work process to ensure safety for employeesand labours of outsourced agencies as well as general public. Safety

training and awareness programmes are being conducted through ElectricalEmployees Training Institutes in regular manner. Labours under outsourcedagencies are also being brought under safety training with all facilities. Special

seminars, workshops have been organized for Public Safety awareness.

For further awareness building campaign, display of Posters at CustomerCare Centres and use of other multifarious methods for awareness buildingis being pursued. Fast track action has been introduced and policy has beenadopted against noncompliance of safety regulations at work sites to


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(e) Holiday Homes at Gangtok and Puri have been introduced. Holiday Homesat Haridwar, Vellore, Digha and New Digha have been continued.Opening of Holiday Home at Dooars (Jayanti, Buxa Tiger Reserve) isunder consideration. l The Company through its Staff Recreation Clubsparticipated in local and national level sports events and culturalcompetitions as well as conducted annual sports and annual group tour.

(f) The company provides Canteen subsidy at various units for the welfare ofthe employees. Opening of a new food court in Vidyut Bhavan campusis under process.

(g) The Company undertook several other steps in the area of staff welfareduring the year

Distribution System

Development of power infrastructureTo meet the growing demand of power, distribution infrastructure wasstrengthened for supply of quality power to the consumers during thefinancial year under review by:i) Laying of 646.72 ckt- km 33 kv lineii) Laying of 164 ckt- km 11 kv line

iii) Laying of 27739.66 ckt- km LT lineiv) Erection of 16 nos. of 33/11kv sub-station (10 nos. fromDistribution wing and6 nos. from RE Wing) evacuating 181.55 MVA powerv) Augmentation of 33/11 kvSub-Stations adding capacity of 455.20 MVApower Planning for Strengthening of Distribution System in 2014-15

For further strengthening of distribution infrastructure, the following

addition from operation and maintenance is envisaged in the year

2014-15.i) Laying of new 400 ckt- km of 33 kv lineii) Laying of new 1500 ckt-km of 11 kv lineiii) Laying of new 1600 ckt- km of LT line


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iv) Erection of 20 nos. of 33/11 kvSub-Stations evacuating 252 MVA powerv) Augmentation of 33/11kv Sub-Stations for adding capacity of 134 MVApower.

Mobile Maintenance UnitMobile Maintenance Units have been engaged for quick restoration ofpower supply in case of any breakdown/interruption/ in the system, tocover all the consumers under 64 nos. Distribution Divisions.

Condition Monitoring for preventive maintenanceIn addition to the existing Condition Monitoring Cell at Head Quarter,the Condition Monitoring Units at five Distribution Zones have beenformed & started functioning and the condition of the equipments at259 Nos. of Sub-Stations have been inspected by them; necessarypreventive measures have also been taken to avoid breakdown/interruptions. A calendar on further action plan for the financial year2014-15 is made so that all the existing 33/11 kv Sub-Stations (Presently475 nos.) may be monitored twice in a year.

Transformer Transaction Management SystemFor preservation of detailed records of all distribution transformersand to capture their transactions, analyzing the records on theiroutage & action plan on it, Transformer Transaction ManagementSystem (TTMS) has already started functioning; records of 1,81,662 nos.of DTR have already been updated in this system for monitoring.

Spot Billing

To provide scope to consumers to verify the meter reading with bill,Spot billing project was started in the year 2009 and initially spotbilling was implemented under 53 CCCs. Up to July, 2014 spot billingat 471 CCCs were implemented covering all domestic and Commercialconsumer (Except Darjeeling, Kurseong and Kalimpong Division).Under this


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system the consumer will get at least eight days time for paymentbefore the first due date. Due dates would be distributed uniformly from3rd of the month to 27th of the month and therefore load in the cashcollection centres would be uniformly distributed throughout themonth. It is expected that above 90% bills through Spot billingmachine would be achieved from next billing cycle. From analysis ofnewly implemented Spot billing system in 201 nos. of CCCs, it revealedthat in June'2013 average consumption per consumer was 55 units whichhave been increased to average consumption per consumer as 64units in June'2014. Hence, it shows that average consumption perconsumer increased by 9 units for 50,54,523 nos. of consumers.

The Prepaid Metering SystemThe Prepaid metering system is the token based prepayment meteringsystem where the consumer will buy electricity from the prepaid vendingstation in form of encrypted token. The encrypted token will be used bythe consumer to vend the money in to the meter using the meterkey pad. The meter will allow consumer to consume energy accordingto the rate price and the amount of money vended. As the consumer

uses the electricity, the credit reduces accordingly. There are threeCustomer Care Center of WBSEDCL where Prepaid Vending station hasbeen introduced. Total 1306 nos. of prepaid consumers are underBidhannagar Div-I and near about 31 lakhs collection per month arecollected through prepaid.

Testing of CTs and PTs

To eliminate dependency and for the purpose of expediting testing,facility for testing of CTs and PTs of different ratings has beenestablished at Distribution Testing Department.

IT initiatives:


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R-APDRP like IT System Development in balance areas The basic theme ofthis project is to provide similar IT application systems as coveredunder the scope of R-APDRP over balance areas (not covered underR-APDRP) throughout the state. Roll out of Metering, Billing and CollectionSystem under the scheme is nearing completion.

ERPAs a part of ongoing capacity building program, WBSEDCL has decidedto implement Enterprise Resource Planning in a number of functional areasacross headquarters and field offices located all over West Bengal.The functionalities covered under this project are HR with Payroll,Material Management, Financial Accounting & Control, PlantMaintenance and Project Systems. Out of these, Financial and MaterialManagement module will be implemented in first phase.

Smart GridWBSEDCL has proposed for implementation of Smart Grid pilot projectin Siliguri area under Smart Grid India Task Force, MOP, GOI. The DPR hasbeen shortlisted for partial funding by Steering Committee for

implementation of R-APDRP extension project and PowerGridCorporation of India Ltd. has been engaged as consultant of the pilotproject. The tender for selection of System Implementer for this projectwill be issued shortly. This will help in improving billing efficiency, peakload management, Energy Audit, signaling for load control, loadcurtailment beyond sanctioned limit & customer satisfaction.On Line application for new Service connection/Load EnhancementThe facility for on line application for new service connection and Load

enhancement is already implemented.

E-payment solutionE-payment through net-banking (with 51 Banks) has already beenintroduced for online payment of electricity bill by M&LV consumers. E-


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payment through credit/debit card has also been introduced. This facilityis available to more than One (1) crore consumers. Within the year2014-15, all L&MV consumers of WBSEDCL will be able to get this e-payment facility for online payment of their electricity bills.SCADA It is a centrally sponsored scheme under R-APDRP Part-A forimplementation of SCADA/DMS at 3 nos. of towns namely KolkataU/A, Asansol U/A and Siliguri. The process of implementation is inprogress.

Collection KioskAlready 150 collection Kiosks are installed at 150 nos. Customer CareCentres. For other Cutomer Care Centres, Process for procurement ofCollection Kiosks has been taken in phase-wise manner for collection ofelectricity bills & other charges related to new serviceconnection, load extension etc.

SMS ServiceSMS based network health monitoring system for early restoration offaulty system and other value added services like sending Bill

information, Payment information to consumer has been introduced.Online Payment of Electricity Bills through WebPortalE-payment solution has been introduced in the Company to providebetter consumer service in respect of bill payment through internet bythe L&MV consumers. The consumers are able to pay their electricitybills at any time at their convenience in the web portal of theCompany. The electricity bills can be paid through the following paymentmodes:

i) Credit Cardii) Debit Cardiii) Internet enabled Bank AccountThe online payments are processed through secured paymentgateways to protect the


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information.

Video ConferencingThe Company has implemented Video Conferencing facility between itsCorporate Head Quarter and Zonal Manager Offices, Regional ManagerOffices and Divisional Manager Offices for better monitoring and visibilityof business processes

WBSEDCL Division Break UpWBSEDCL have total 5 Zone and 48 Division in west Bengal.Name of The Zones

1. Kolkata2. Berhampur3. Siliguri4. Midnapur5. Burdwan

Burdwan Zone divided into 3 region

Burdwan Zone

Burdwan Hugli Birbhum


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Burdwan Region Divided into 7 division

I. Burdwan (Rural)II. Burdwan (Urban)III. MemaryIV. DurgapurV. KalnaVI. AsansolVII. Katwa

Asansol Division Is Divided Into Seven Customer Care Call CentreFrom Where The Bills collection made.

ASANSOL

dIVISION

Asansol 1 Asansol 2 Raniganj Barakar Hirapur Domhani Rupnarayanpur


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3.1 NEED FOR THE STUDY

Business activity is dynamic in character and subject to wide fluctuations. Mostfirms treat account receivables as marketing tool to promote sales and

CHAPTER III

3.1 NEED FOR THE STUDY

3.2 OBJECTIVE OF THE STUDY

3.3 SCOPE OF THE STUDY

3.4LIMITATION OF THE STUDY

3.5 REVIEW OF LITERATUREMEANING OF ACCOUNTSRECEIVABLES

3.6 BANKER OF WBSEDCL

3.7 CREDIT POLICY AND PRACTICES AT WBSEDCL


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profits. Every firm has a set of credit terms and policies under which goods aresold on credit and every policy has a cost and benefit associated with it. Thisproject attempts as to how to manage the accounts receivable and the impact ofit. In a competitive environment sometimes the firms are compelled and

sometimes the firms desire to adopt liberal credit policies for pushing up the salesand the factoring has been done. So a careful analysis of various aspectsof the credit policy is required. That is why “Appraisal of ReceivableManagement” is done.

3.2 OBJECTIVE OF THE STUDY

Primary Objective: To study the effectiveness of managing accounts receivables and the impacts of

the same.

Secondary Objective: To analyze the collection performance of the WBSEDCL (West

Bengal State Electricity Distribution Company Ltd.) for a period oftwo years from 2013-14 – 2014-15 through calculating collection efficiencyagainst target.

To find out the efficiency of collection performance comparativestatementanalysis.

To find out the cash collection and cheque collection

3.3 SCOPE OF THE STUDY Receivables means “Colle cting the debt owed to the company, by the customersarising from the sale of goods or services in the ordinary course of businessmoney owned by customers/ individuals/ corporation to another entity inexchange for goods and services that have been delivered or used by notyet paid for receivable usually come in the form of operating lines ofcredit and are usually due within a relatively short time period.

The sale of goods on credit is an essential part of any modern andcompetitive economic system like India. Credit sale and thereforereceivables are treated as marketing tools to aid the sale of goods. Thestudy aims at analyzing the debtors and outstanding or amount of its


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company. It is hoped that this study will help the company in reducingits investment in Accounts Receivables.

3.4 LIMITATION OF THE STUDY

The study has taken into account only three years for comparative analysis. Time and other resources have proved to be a constraint. It has always not been possible to get the full information. Since the study is based only on secondary data, so the reliability of

information may not be ensured . No primary data is used for the study.

3.5 REVIEW OF LITERATUREMEANING OF ACCOUNTS RECEIVABLES:

Accounts receivable is one of a series of accounting transactions dealing with theb i l l ing o f cus tomers who owe money to a pe r son , company o ror ga ni za ti on for goods and services that have been provided to thecustomer. In most business entities this is typically done by generating aninvoice and mailing or electronically delivering it to the customer, who in turnmust pay it within an established time frame called credit or payment terms.

While booking a receivable is accomplished by a simple accountingtransaction, the process of maintaining and collecting payments on theaccounts receivable subsidiary account balances can be a full time proposition.Depending on the industry in practice, accounts receivable payments can bereceived up to 10 - 15da ys af te r th e du e da te ha s be en re ac he d.These types o f payment p rac t i ces a re somet imes deve loped byind ustr y s ta ndar ds, c orp orat e pol icy, or be caus e of t he financialcondition of the client.

OBJECTIVE OF RECEIVABLE MANAGEMENT: From creation of receivables the firm gets a few advantages & it has tobear bad debts , adminis t ra t ive expenses , f inancin g cos ts e tc . In th e m an ag em en t o f r e c e i v a b l e s f i n a n c i a l m a n a g e r s h o u l d f o l l


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ow su ch po l i c y t h r o ug h w hi ch ca sh resources of the firm can befully utilized. Management of receivables is a process under whichdecisions to maximize returns on the investment blocked in them aretaken. Thus, the main objectives of management receivable are to

maximize the returns on investment in receivables & to minimize risk of baddebts etc. Because investment in receivables affects liquidity and profitability, itis, therefore, significant to maintain proper level of receivables. Efficient creditmanagement helps to increase the sales of the firm.• To optimize the amount of sales. • To minimize cost of credit. • To optimize investment in receivables. • To establish a balance between profitability and risk (cost).A b us iness cana ffo rd to inves t i n i t s r ece ivab les un les s the marg ina l cos t s and

marginal profits are the same. Although the level of receivables is affected byvarious external factors like standards of industry, economic conditions, seasonalfactors, rate of competition etc, management can con trol its receivables.Though credit policies, credit terms, credit standards and collectionprocedures.

FACTORING:

Factoring is the sale of invoices or Accounts Receivable at a discount. It is a way

for the business to generate cash and improve cash flow without taking onadditional debt. Traditionally, factoring was a financing service used by the textileand furniture industries. Today however, factoring has become a financingstandard in just about any industry that created Accounts Receivable byextending terms to its customers.

Why do companies factor their Accounts Receivable? Simply put, to generate cash flow. Factoring provides immediate working capitalfo r compan ies f ac ing a shor t t e rm cash cons t r a in t . Mos tco mp an ie s th at ch oo se factoring are not currently able to qualify for


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a traditional loan from their bank or companies who are growing faster thantheir bank is willing to extend credit. Due to credit policies and regulatoryconstraints, banks typically need to see 2years of profits, minimal leverage and acertain amount of cash flow for debt coverage. Companies that do not meet these

characteristics and does not have any real estate to pledge as collateral can manytimes find itself on the outside looking in. However, companies with AccountsReceivable (a current asset but not cash) can use them to generate cash for theirday to day working capital needs. When a company sells its product or service onterms, it typically creates an invoice. This outstanding invoice for completedwork can be called an Accounts Receivable. Instead of waiting to receive the cashwhen the customer remits payment, the business may decide to factor thereceivable and immediately receive the cash. In order to have instant access tofunds, the company is charged a nominal fee. In WBSEDCL (West Bengal State

Electricity Distribution Company Ltd.) it give a time of 5 days if one deposit hisdue with in 5 days then he receive a rebate.

BENEFITS Although every business is different and their reasons for Factoring maynot be the same, the following benefits are representative of most situations:

Additional cash is immediately available Quick and easy to set up

It is temporary (no long term contracts required) and flexible (frequencyand amount of funding is optional)

No additional debt is created as it is "Off Balance Sheet" financing Owner avoids giving up equity or control of the company Unlimited source of Working Capital - the funds available grows as thecompany's sales grow

3.6 THE BANKER OF WBSEDCL (West Bengal State Electricity DistributionCompany Ltd.):

1. State Bank of India


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2. Punjab National Bank3. Uco Bank4. United Bank of India

Immediate cash requirement: The immediate cash requirements of the company are met throughthe Temporary Bank Overdrafts and Bills Discounting.

Bank Overdrafts: WBSEDCL makes use of the temporary “O.D” facilities offered byits bankers to meet its immediate cash requirement. Under this facility, thecompany is allowed to withdraw funds in excess of the balance in itscurrent account up to certain specified limit during a stipulated period. The

borrowing power will be the difference between the current assets andcurrent liabilities i.e., working capital after deducting the margin amount.

CREDIT MANAGEMENT: Trade credit is considered as an essential tool, acting as a bridge for themovement of the products through production and distribution stagesto customers. When the firm sells its product or services and do not receive thecash for it immediately the firm is said to have granted trade credit to the

customers. Trade credit thus, creates receivables or book debts which thefirm is expected to collect in the near future. Receivables constitute asubstantial portion of current assets of several firms. In India debtors, after theinventories, are the major components of the current assets. They form one-thirdof the current assets in India. Granting credit and creating debtor amount to theblocking of funds. The internal between the date of the sale and the date ofpayment s has to be f inanced ou t o f the work ing cap i t a l . Thus ,trade debtors represent investment. As substantial amounts are tiedup in trade debtors, it needs careful analysis and proper management.

3.7 CREDIT POLICY AND PRACTICES AT WBSEDCL The sales of the company WBSEDCL, goes on credit terms some temporaryprepaid connection are given by the company. The company sells electricity to theconsumer and bill in every 30 days which consumer can paid by month wise or


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consumer can paid 3 months bill together after within 15 days after complletationof 3 month otherwise consumer charge fine on the bill amount.

DISCOUNT: WBSEDCL paid a rebate if consumer paid the bill before due date.

COLLECTION PROCEDURES: The company follows a system of centralized control and decentralizedcollection. The company does not employ and collection agency for itscollection activities. The Asansol division have seven “ccc” from where thecollection is done collection is made.

I. Asansol III. Asansol II

III. RaniganjIV. HirapurV. Domhani

VI. BarakarVII. Rupnaryanpurby several process such as manual collection, online collection, and out of seven“ccc” in three “ccc” kiosk machine is there in ASANSOL I, ASANSOL II, RANIGANJ“CCC”.


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4.1 RESEARCH METHODOLOGY This project study is aimed at analyzing the Collection efficiency of WBSEDCL andimpact of this same.

CHAPTER IV

4.1 RESEARCH METHODOLOGY

4.2 DATA COLLECTION METHOD

4.3 TOOLS AND TECHNIQUIES FOR ANALYSIS

4.4 COMPARATIVE STATEMENT

4.5 CALCULATION OF ACHIEVEMENT


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RESEARCH: ➢ Systematic and organized effort to investigate a scientific problem.➢ Identify the problem.➢ Gather information.

➢ Analyze the data.➢ Take corrective action and solve the problem.

RESEARCH METHODOLOGY:It is the way to systematically solve the research problem. This study onReceivable Management is an analytical study because the facts and informationthatis readily available are being used to make critical evaluation of collectionmanagement at WBSEDCL.

RESEARCH DESIGN: Research design is a blue print or a planned procedure for conductingresearch program.

4.2 DATA COLLECTION METHOD: ✔ Nature of Data The data collected is secondary in nature. This is due to the nature of analysis,which only call for secondary data.✔ Source of Data The source of data is the various year’s Revenue Statement, PRTrepor t provided by WBSEDCL. They were used for the analysis and forpreparing reports. The records maintained by the company where referred to getthe required information.

4.3 TOOLS AND TECHNIQUIES FOR ANALYSIS :

Various tools and techniques are used for the analysis are as follows.

FINANCIAL ANALYSIS: Comparative Statement

PERCENTAGE ANALYSIS: Is this study is used to find the variation percentage i.e., the increase anddecrease which is helpful to have a look over in the trend.


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4.4 COMPARATIVE STATEMENT:

Comparative financial statement is a statement of the financial Position of a

bus iness , wh ich a re p repa red in such a way as to p rov id e , a t atime perspective to the various element embodied in such a statements. Thesestatements mainly include two types of analytical statement name

Comparative Collection Statement of all the month of the “ccc” Comparative Collection Statement of all “ccc” together

Comparative financial statement shows the following information for analyticalpurposes:

Actual data in absolute money, as given in the financial statement for theperiod under consideration

Increase or decrease in various items in money value Increase or decrease in various items in terms of percentage.

In WBSEDCL every Division Prepare a target in every financial year and which isdivided into all the “ccc” of the division from where the collection is made.

4.5 CALCULATION OF ACHIEVEMENT

Actual CollectionAchievement = * 100

Target


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STATUS OF REVENUE COLLECTION UPTO APRIL'13 OF FINANCIAL YEAR 2013-14

NAME OF ZONE : BURDWAN

CHAPTER V

5.1 DATA ANALYSIS

5.2 INTERPRETATION AND FINDINGS


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FINDINGS:

Total target of Asansol Division in the month of April 13 Rs= 2259.880 lacs.Actual Collection Rs= 1406.22 lacs. Achievement = 62.23%

NAMEOF

DIVISION

NAME OF CCC

TARGET2013-14(Rs. Inlacs)

STATUS OF REVENUE COLLECTIONFOR THE REPORTING MONTH

CUMMULATIVE STATUS OF REVENUECOLLECTION UPTO REPORTING MONTH

TARGET(Rs. Inlacs)

COLLECTION

(Rs. In lacs)

ACHIEVEMENT %

TARGET(Rs. Inlacs)

COLLECTION(Rs. In lacs)

ACHIEVEME%

A S A N S O L

ASANSOL – I 7192.250 650.005 457.31 70.35 650.005 457.31 70.35

ASANSOL -- II 8335.330 680.024 405.07 59.57 680.024 405.07 59.57

RANIGANJ 4096.820 270.568 178.05 65.81 270.568 178.05 65.81

BARAKAR 3516.810 230.152 147.6 64.13 230.152 147.6 64.13

HIRAPUR 1347.320 121.154 52.54 43.37 121.154 52.54 43.37

RUPNARAYANPUR 2226.050 165.652 93.37 56.37 165.652 93.37 56.37

DOMOHANI 1760.020142.325 72.28 50.79 142.325 72.28 50.79

TOTAL 28474.6002259.880 1406.22 62.23 2259.880 1406.22 62.23

STATUS OF REVENUE COLLECTION UPTO MAY '13 OF FINANCIAL YEAR 2013-14


NAME NAME OF CCC TARGET STATUS OF REVENUE COLLECTION CUMMULATIVE STATUS OF REVENUE


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FINDINGS: Total target of Asansol Division in the month of May 13 Rs= 1721.126 lacs.

Actual Collection Rs= 1306.48 lacs. Achievement = 75.91%

OFDIVISI

ON

2013-14(Rs. Inlacs)

FOR THE REPORTING MONTH COLLECTION UPTO REPORTING MONTH

TARGET(Rs. Inlacs)

COLLECTION

(Rs. In lacs)

ACHIEVEMENT %

TARGET(Rs. Inlacs)


ACHIEVEME%

A S A N S O L

ASANSOL – I 7192.250400.125 284.69 71.15 1050.130 742 70.66

ASANSOL -- II 8335.330 563.221 416.73 73.99 1243.245 821.8 66.10

RANIGANJ 4096.820 289.245 175.92 60.82 559.813 353.97 63.23

BARAKAR 3516.810 180.324 177.33 98.34 410.476 324.93 79.16

HIRAPUR 1347.320 80.654 69.74 86.47 201.808 122.28 60.59

RUPNARAYANPUR 2226.050 113.325 109.53 96.65 278.977 202.9 72.73

DOMOHANI 1760.020 94.232 72.54 76.98 236.557 144.82 61.22

TOTAL 28474.6001721.126 1306.48 75.91 3981.006 2712.7 68.14

STATUS OF REVENUE COLLECTION UPTO JUNE '13 OF FINANCIAL YEAR 2013-14


NAME NAME OF CCC TARGET STATUS OF REVENUE COLLECTION CUMMULATIVE STATUS OF REVENUE


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FINDINGS: Total target of Asansol Division in the month of June 13 Rs= 2204.724 lacs.

Actual Collection Rs= 1420.52 lacs. Achievement = 64.43 %

OFDIVISI

ON

2013-14(Rs. Inlacs)

FOR THE REPORTING MONTH COLLECTION UPTO REPORTING MONTH

TARGET(Rs. Inlacs)

COLLECTION

(Rs. In lacs)

ACHIEVEMENT %

TARGET(Rs. Inlacs)


ACHIEVEME%

A S A N S O L

ASANSOL – I 7192.250499.770 324.63 64.96 1549.900 1066.63 68.82

ASANSOL -- II 8335.330 552.555 456.01 82.53 1795.800 1277.81 71.16

RANIGANJ 4096.820 290.707 225.46 77.56 850.520 579.43 68.13

BARAKAR 3516.810 307.634 170.22 55.33 718.110 495.15 68.95

HIRAPUR 1347.320 178.592 63.01 35.28 380.400 185.29 48.71

RUPNARAYANPUR 2226.050 204.503 115.44 56.45 483.480 318.34 65.84

DOMOHANI 1760.020 170.963 65.75 38.46 407.520 210.57 51.67

TOTAL 28474.6002204.724 1420.52 64.43 6185.730 4133.22 66.82

STATUS OF REVENUE COLLECTION UPTO JULY'13 OF FINANCIAL YEAR 2013-14


NAMEOF NAME OF CCC

TARGET2013-14

STATUS OF REVENUE COLLECTIONFOR THE REPORTING MONTH



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FINDINGS:

Total target of Asansol Division in the month of July 13 Rs= 2451.950 lacs.Actual Collection Rs= 1808.440 lacs. Achievement = 73.76%

DIVISION

(Rs. Inlacs) TARGET

(Rs. Inlacs)

COLLECTION

(Rs. In lacs)

ACHIEVEMENT %

TARGET(Rs. Inlacs)


ACHIEVEME%

A S A N S O L

ASANSOL – I 7192.250 600.640 442.82 73.72% 2105.540 1509.46 71.69%

ASANSOL -- II 8335.330 709.080 574.01 80.95% 2504.880 1851.82 73.93%RANIGANJ 4096.820 363.140 279.05 76.84% 1213.660 858.48 70.73%BARAKAR 3516.810 315.820 214.25 67.84% 1033.930 709.4 68.61%HIRAPUR 1347.320 126.380 75.72 59.91% 506.420 261.01 51.54%

RUPNARAYANPUR 2226.050 185.870 122.4 65.85% 669.350 310.76 46.43%DOMOHANI 1760.020 151.020 100.19 66.34% 558.540 440.74 78.91%

TOTAL 28474.600 2451.950 1808.440 73.76% 8592.320 5941.670 69.15%

STATUS OF REVENUE COLLECTION UPTO AUGUST'13 OF FINANCIAL YEAR 2013-14


NAMEOF

DIVISINAME OF CCC

TARGET2013-14 (Rs.

In lacs)

STATUS OF REVENUECOLLECTION FOR THE

REPORTING MONTH



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FINDINGS:

Total target of Asansol Division in the month of August 13 Rs= 2763.030 lacs.Actual Collection Rs= 1800.090 lacs. Achievement = 65.15%

ONTARGET

(Rs. Inlacs)

COLLECTION

(Rs. Inlacs)

ACHIEVEMENT

%

TARGET(Rs. In lacs)

COLLECTION

(Rs. In lacs)

ACHIEVEME%

A S A N S O L

ASANSOL – I 7192.250 653.610 459.81 70.35% 2759.150 1969.26 71.37%

ASANSOL -- II 8335.330 826.110 526.28 63.71% 3330.990 2378.1 71.39%

RANIGANJ 4096.820 408.060 238.84 58.53% 1621.720 1097.32 67.66%

BARAKAR 3516.810 370.430 261.32 70.55% 1404.360 970.72 69.12%

HIRAPUR 1347.320 142.440 103.21 72.46% 648.860 364.22 56.13%

RUPNARAYANPUR 2226.050 198.040 130.92 66.11% 867.390 571.66 65.91%

DOMOHANI 1760.020 164.340 79.71 48.50% 722.880 390.47 54.02%

TOTAL28474.600 2763.030 1800.090 65.15% 11355.350 7741.750 68.18%

STATUS OF REVENUE COLL ECTION UPTO SEPTEMBER '13 OF FINANCIAL YEAR 2013-14


NAMEOF

DIVISINAME OF CCC

TARGET2013-14 (Rs.

In lacs)


REPORTING MONTH



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FINDINGS:

Total target of Asansol Division in the month of September 13 Rs= 2843.130

lacs. Actual Collection Rs= 1810.840 lacs. Achievement = 63.69%

ONTARGET

(Rs. Inlacs)

COLLECTION

(Rs. Inlacs)

ACHIEVEMENT

%

TARGET(Rs. In lacs)

COLLECTION

(Rs. In lacs)

ACHIEVEME%

A S A N S O L

ASANSOL – I 7192.250 701.850 420.65 59.93 3461.000 2389.91 69.05

ASANSOL -- II 8335.330 827.100 537.4 64.97 4158.090 2915.5 70.12

RANIGANJ 4096.820 435.770 299.84 68.81 2057.490 1397.16 67.91

BARAKAR 3516.810 389.540 232.91 59.79 1793.900 1203.63 67.10

HIRAPUR 1347.320 108.730 87.82 80.77 757.590 452.04 59.67

RUPNARAYANPUR 2226.050 203.580 141.2 69.36 1070.970 712.86 66.56

DOMOHANI 1760.020 176.560 91.02 51.55 899.440 481.49 53.53

TOTAL28474.600 2843.130 1810.840 63.69 14198.480 9552.590 67.28

STATUS OF REVENUE COLLECTION UPTO OCTOBER '13 OF FINANCIAL YEAR 2013-14


NAMEOF

DIVISINAME OF CCC

TARGET2013-14 (Rs.

In lacs)


REPORTING MONTH



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FINDINGS:

Total target of Asansol Division in the month of October 13 Rs= 2807.380lacs. Actual Collection Rs= 1702.100 lacs. Achievement = 60.63%

ONTARGET

(Rs. Inlacs)

COLLECTION

(Rs. Inlacs)

ACHIEVEMENT

%

TARGET(Rs. In lacs)

COLLECTION

(Rs. In lacs)

ACHIEVEMNT %

A S A N S O L

ASANSOL – I 7192.250 714.150 432.13 60.51 4175.15 2822.04 67.59

ASANSOL -- II 8335.330 780.870 513.13 65.71 4938.96 3428.63 69.42

RANIGANJ 4096.820 430.040 263.90 61.37 2487.53 1661.06 66.78

BARAKAR 3516.810 359.510 216.68 60.27 2153.41 1420.31 65.96

HIRAPUR 1347.320 126.030 74.65 59.23 883.62 526.69 59.61

RUPNARAYANPUR 2226.050 206.900 122.10 59.01 1277.87 834.96 65.34

DOMOHANI 1760.020 189.880 79.51 41.87 1089.32 561.00 51.50

TOTAL28474.600 2807.380 1702.100 60.63 17005.860 11254.690 66.18

STATUS OF REVENUE COLL ECTION UPTO NOVEMBER '13 OF FINANCIAL YEAR 2013-14


NAMEOF

DIVISINAME OF CCC

TARGET2013-14 (Rs.

In lacs)


REPORTING MONTH



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FINDINGS: Total target of Asansol Division in the month of November 13 Rs= 2619.470


ONTARGET

(Rs. Inlacs)

COLLECTION

(Rs. Inlacs)

ACHIEVEMENT

%

TARGET(Rs. In lacs)

COLLECTION

(Rs. In lacs)

ACHIEVEMNT %

A S A N S O L

ASANSOL – I 7192.250 666.850 395.20 59.26 4842.00 3217.24 66.44

ASANSOL -- II 8335.330 729.730 504.20 69.09 5668.69 3932.83 69.38

RANIGANJ 4096.820 403.280 245.83 60.96 2890.81 1906.89 65.96

BARAKAR 3516.810 324.010 241.27 74.46 2477.42 1661.58 67.07

HIRAPUR 1347.320 125.500 75.68 60.30 1009.12 602.37 59.69

RUPNARAYANPUR 2226.050 214.640 110.82 51.63 1492.51 945.78 63.37

DOMOHANI 1760.020 155.460 68.64 44.15 1244.78 629.64 50.58

TOTAL28474.600 2619.470 1641.640 62.67 19625.330 12896.330 65.71

STATUS OF REVENUE COLL ECTION UPTO DCEMBER '13 OF FINANCIAL YEAR 2013-14


NAMEOF

DIVISINAME OF CCC

TARGET2013-14 (Rs.

In lacs)


REPORTING MONTH



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FINDINGS: Total target of Asansol Division in the month of December 13 Rs= 2531.200


ONTARGET

(Rs. Inlacs)

COLLECTION

(Rs. Inlacs)

ACHIEVEMENT

%

TARGET(Rs. In lacs)

COLLECTION

(Rs. In lacs)

ACHIEVEMNT %

A S A N S O L

ASANSOL – I 7192.250 675.51 383.84 56.82 6193.02 3601.08 58.15

ASANSOL -- II 8335.330 788.60 454.78 57.67 7245.89 4387.61 60.55

RANIGANJ 4096.820 348.81 292.88 83.97 3588.43 2199.77 61.30

BARAKAR 3516.810 293.07 206.00 70.29 3063.56 1867.58 60.96

HIRAPUR 1347.320 90.58 87.79 96.92 1190.28 690.16 57.98

RUPNARAYANPUR 2226.050 195.83 123.75 63.19 1884.17 1069.53 56.76

DOMOHANI 1760.020 138.80 84.10 60.59 1522.38 713.74 46.88

TOTAL28474.600 2531.200 1633.140 64.52 24687.730 14529.470 58.85

STATUS OF REVENUE COLLECTION UPTO JANUARY '14 OF FINANCIAL YEAR 2013-14


NAMEOF

DIVISINAME OF CCC

TARGET2013-14 (Rs.

In lacs)


REPORTING MONTH



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FINDINGS: Total target of Asansol Division in the month of February 14 Rs= 1934.890


ONTARGET

(Rs. Inlacs)

COLLECTION

(Rs. Inlacs)

ACHIEVEMENT

%

TARGET(Rs. In lacs)

COLLECTION

(Rs. In lacs)

ACHIEVEMNT %

A S A N S O L

ASANSOL – I 7192.250 430.39 340.15 79.03 6602.25 4321.91 65.46

ASANSOL -- II 8335.330 590.67 502.47 85.07 7715.47 5325.04 69.02

RANIGANJ 4096.820 275.22 194.10 70.53 3825.42 2625.73 68.64

BARAKAR 3516.810 248.47 170.35 68.56 3293.82 2211.93 67.15

HIRAPUR 1347.320 87.64 61.80 70.52 1282.64 816.75 63.68

RUPNARAYANPUR 2226.050 179.24 87.16 48.63 2056.77 1255.84 61.06

DOMOHANI 1760.020 123.26 56.60 45.92 1635.65 837.26 51.19

TOTAL28474.600 1934.890 1412.627 73.01 26412.020 17394.457 65.86

STATUS OF REVENUE COLLECTION UPTO MARCH''14 OF FINANCIAL YEAR 2013-14


NAMEOF

DIVISINAME OF CCC

TARGET2013-14 (Rs.

In lacs)


REPORTING MONTH



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FINDINGS: Total target of Asansol Division in the month of March 14 Rs= 2062.580 lacs.

Actual Collection Rs= 1545.370 lacs. Achievement = 74.92%

Comparative statement of collection efficiency of all the month ofFinancial Year 2013-14 of Asansol Division

Month April May June July Aug Sept Oct Nov Dec Jan Feb march TotalTarget 2259

.8801721.126

2204.724

2451.950

2763.030

2843.130

2807.3

2619.470

2531.2

2320.6

1934.8

2062.580

28474.600

ONTARGET

(Rs. Inlacs)

COLLECTION

(Rs. Inlacs)

ACHIEVEMENT

%

TARGET(Rs. In lacs)

COLLECTION

(Rs. In lacs)

ACHIEVEMNT %

A S A N S O L

ASANSOL – I 7192.250 590.00 390.69 66.22 7192.25 4712.60 65.52

ASANSOL -- II 8335.330 619.86 426.84 68.86 8335.33 5751.88 69.01

RANIGANJ 4096.820 271.40 213.03 78.49 4096.82 2838.76 69.29

BARAKAR 3516.810 222.99 236.15 105.90 3516.81 2448.08 69.61

HIRAPUR 1347.320 64.68 55.52 85.84 1347.32 872.27 64.74

RUPNARAYANPUR 2226.050 169.28 118.45 69.97 2226.05 1374.29 61.74

DOMOHANI 1760.020 124.37 104.69 84.18 1760.02 941.95 53.52

TOTAL28474.600 2062.580 1545.370 74.92 28474.600 18939.827 66.51


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80 00 00 90Actualcollection

1406.22

1306.48

1420.52

1808.440

1800.090

1810.840

1702.100

1641.640

1633.140

1452.360

1412.627

1545.370

18939.827

Achieve

ment (%)

62.2

3

75.9

1

64.4

3

73.76 65.1

5

63.6

9

60.

63

62.6

7

64.

52

62.

59

73.

01

74.92 66.51

FINDINGS:

From the above graph we can say that the collection efficiency of AasansolDivision is fall in the month of June 2013,Aug 2013, Sep 2013, Oct 2013, Jan2014. But collection efficiency is increased as we compare from April 2013to March 2014. And the total Target of FA 2013-14 Rs= 28474.600. ActualCollection Rs=18939.827. And Achievement =66.51

30.4.2013

31.5.2013

30.6.2013

31.7.2013

31.8.2013

30.9.2013

31.10.2013

30.11.2013

31.12.2013

31.1.2014

28.2.2014

31.3.2014

Achievement 62.23 75.91 64.43 73.76 65.15 63.69 60.63 62.67 64.52 62.59 73.01 74.92

0102030

4050607080

C o m p a r a t i v e R e v e n u e

S t a t e m e n t

Achievement

STATUS OF REVENUE COLLECTION UPTO April ' '14 OF FINANCIAL YEA R 2013-14


NAMEOF

DIVISINAME OF CCC

TARGET2014-15 (Rs.

In lacs)


REPORTING MONTH



49/63



FINDINGS:Total target of Asansol Division in the month of April 14 Rs= 1850.535 lacs.Actual Collection Rs= 1325.820 lacs. Achievement = 71.64523%

ONTARGET

(Rs. Inlacs)

COLLECTION

(Rs. Inlacs)

ACHIEVEMENT

%

TARGET(Rs. In lacs)

COLLECTION

(Rs. In lacs)

ACHIEVEMNT %

A S

A N S O L

Hirapur 1129.22 94.10 59.5763.3049

9

94.10 59.57

63.304

Domani 1261.77 105.15 68.7165.3447

5105.15 68.71

65.344

Rupnarayanpur 1938.70 161.56 94.4658.4674

4161.56 94.46

58.467

Raniganj 3015.69 251.31 192.6776.6662

7251.31 192.67

76.666

Asansole-I 5278.40 439.87 381.1386.6460

5 439.87 381.13 86.646

Asansol-II 6162.79 513.57 393.6376.6458

3513.57 393.63

76.645

Barakar 3419.85 284.99 135.6547.5981

6284.99 135.65

47.598

TOTAL22206.420 1850.535 1325.820

71.64523

1850.535 1325.82071.645

STATUS OF REVENUE COLLECTION UPTO May' '14 OF FINANCIAL YEA R 2013-14


NAMEOF NAME OF CCC

TARGET2014-15 (Rs.




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FINDINGS:Total target of Asansol Division in the month of May 14 Rs= 1850.535 lacs.Actual Collection Rs= 1295.580 lacs. Achievement = 70.0111%

DIVISION

In lacs) REPORTING MONTH

TARGET(Rs. Inlacs)

COLLECTION

(Rs. Inlacs)

ACHIEVEMENT

%

TARGET(Rs. In lacs)

COLLECTION

(Rs. In lacs)

ACHIEVEMNT %

A S A N S O L

Hirapur 1129.22 94.10 63.2067.1625

9 188.2 122.77 65.233

Domani 1261.77 105.15 66.6863.4141

7 210.3 135.39 64.379

Rupnarayanpur 1938.70 161.56 93.3657.7865

8 323.12 187.82 58.127

Raniganj 3015.69 251.31 203.1380.8284

6 502.62 395.8 78.747

Asansole-I 5278.40 439.87 303.07 68.8999 879.74 684.2 77.772

Asansol-II 6162.79 513.57 379.2073.8360

9 1027.14 772.83 75.240

Barakar 3419.85 284.99 186.9465.5952

8 569.98 322.59 56.596

TOTAL22206.420 1850.535 1295.580 70.0111 3701.07 2621.4 70.828

STATUS OF REVENUE COLLECTION UPTO June' '14 OF FINANCIAL YEA R 2013-14


NAMEOF

DIVISINAME OF CCC

TARGET2014-15 (Rs.

In lacs)


REPORTING MONTH



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FINDINGS:Total target of Asansol Division in the month of June 14 Rs= 1850.535 lacs.Actual Collection Rs= 1518.230 lacs. Achievement = 82.04276%

ONTARGET

(Rs. Inlacs)

COLLECTION

(Rs. Inlacs)

ACHIEVEMENT

%

TARGET(Rs. In lacs)

COLLECTION

(Rs. In lacs)

ACHIEVEMNT %

A S A N S O L

Hirapur 1129.22 94.10 58.2861.9341

1 282.305 181.05 64.13276421

Domani 1261.77 105.15 83.0278.9538

8 315.4425 218.41 69.23924329

Rupnarayanpur 1938.70 161.56 113.6570.3453

8 484.675 301.47 62.2004436

Raniganj 3015.69 251.31 234.91 93.4742 753.922 630.71 83.65719531

Asansole-I 5278.40 439.87 377.09 85.7276 1319.6 1061.29 80.42512883

Asansol-II 6162.79 513.57 455.1988.6325

1 1540.6975 1228.02 79.70545808

Barakar 3419.85 284.99 196.0968.8059

2 854.9625 518.68 60.66698832

TOTAL22206.420 1850.535 1518.230

82.04276 5420.145 4139.63 76.37489403

STATUS OF REVENUE COLLECTION UPTO July ' '14 OF FINANCIAL YEA R 2013-14


NAMEOF

DIVISINAME OF CCC

TARGET2014-15 (Rs.

In lacs)


REPORTING MONTH



52/63



FINDINGS:Total target of Asansol Division in the month of July 14 Rs= 1850.535 lacs.Actual Collection Rs= 1950.310 lacs. Achievement = 105.39 %

ONTARGET

(Rs. Inlacs)

COLLECTION

(Rs. Inlacs)

ACHIEVEMENT

%

TARGET(Rs. In lacs)

COLLECTION

(Rs. In lacs)

ACHIEVEMNT %

A S A N S O L

Hirapur 1129.22 94.10 94.33 100.24 376.41 275.38 73.16

Domani 1261.77 105.15 102.32 97.31 420.59 320.73 76.26

Rupnarayanpur 1938.70 161.56 126.05 78.02 646.23 427.52 66.16

Raniganj 3015.69 251.31 286.97 114.19 1005.23 917.68 91.29

Asansole-I 5278.40 439.87 500.39 113.76 1759.47 1561.69 88.76

Asansol-II 6162.79 513.57 612.51 119.27 2054.26 1840.53 89.60

Barakar 3419.85 284.99 227.74 79.91 1139.95 746.42 65.48

TOTAL22206.420 1850.535 1950.310 105.39 7402.140 6089.950 82.27

STATUS OF REVENUE COLL ECTION UPTO Aug ust ' '14 OF FINANCIAL YEAR 2013-14


NAMEOF

DIVISINAME OF CCC

TARGET2014-15 (Rs.

In lacs)


REPORTING MONTH



53/63



FINDINGS:Total target of Asansol Division in the month of August 14 Rs= 1850.535 lacs.Actual Collection Rs= 1947.050 lacs. Achievement = 105.22%

ONTARGET

(Rs. Inlacs)

COLLECTION

(Rs. Inlacs)

ACHIEVEMENT

%

TARGET(Rs. In lacs)

COLLECTION

(Rs. In lacs)

ACHIEVEMNT %

A S A N S O L

Hirapur 1129.22 94.10 102.33 108.74 470.510 377.71 80.27672

Domani 1261.77 105.15 78.88 75.02 525.740 399.61 76.00905

Rupnarayanpur 1938.70 161.56 129.22 79.98 807.790 556.74 68.92138

Raniganj 3015.69 251.31 276.17 109.89 1256.540 1193.85 95.0109

Asansole-I 5278.40 439.87 496.77 112.94 2199.340 2058.46 93.59444

Asansol-II 6162.79 513.57 604.23 117.65 2567.830 2444.76 95.20724

Barakar 3419.85 284.99 259.45 91.04 1424.940 1005.87 70.59034

TOTAL22206.420 1850.535 1947.050 105.22 9252.675 8037.000 86.8613

STATUS OF REVENUE COLLECTION UPTO Septemb er ' '14 OF FINANCIAL YEA R 2013-14


NAMEOF

DIVISINAME OF CCC

TARGET2013-14 (Rs.

In lacs)


REPORTING MONTH



54/63



FINDINGS:Total target of Asansol Division in the month of September 14 Rs= 1850.535


ONTARGET

(Rs. Inlacs)

COLLECTION

(Rs. Inlacs)

ACHIEVEMENT

%

TARGET(Rs. In lacs)

COLLECTION

(Rs. In lacs)

ACHIEVEMNT %

A S A N S O L

Hirapur 1129.22 94.10 88.58 94.13 564.61 466.33 82.59

Domani 1261.77 105.15 79.59 75.69 630.89 479.20 75.96

Rupnarayanpur 1938.70 161.56 130.38 80.70 969.35 687.12 70.88

Raniganj 3015.69 251.31 320.38 127.49 1507.85 1514.23 100.42

Asansole-I 5278.40 439.87 475.20 108.03 2639.20 2533.66 96.00

Asansol-II 6162.79 513.57 563.25 109.67 3081.40 3008.00 97.62

Barakar 3419.85 284.99 254.96 89.46 1709.93 1260.83 73.74

TOTAL22206.420 1850.535 1912.340 103.34 11103.210 9949.370 89.61

STATUS OF REVENUE COLLECTION UPTO October ' '14 OF FINANCIAL YEA R 2013-14


NAMEOF

DIVISINAME OF CCC

TARGET2014-15 (Rs.

In lacs)


REPORTING MONTH



55/63


56/63



FINDINGS:Total target of Asansol Division in the month of November 14 Rs= 1850.535


ONTARGET

(Rs. Inlacs)

COLLECTION

(Rs. Inlacs)

ACHIEVEMENT

%

TARGET(Rs. In lacs)

COLLECTION

(Rs. In lacs)

ACHIEVEMNT %

A S A N S O L

Hirapur 1129.22 94.10 98.44104.610

262 752.81 667.1 88.6144609

Domani 1261.77 105.15 78.7874.9233

22 841.18 636.86 75.71053672

Rupnarayanpur 1938.70 161.56 132.0981.7599

4223 1292.47 948.43 73.38129496

Raniganj 3015.69 251.31 303.06120.593

2971 2010.46 2093.46 104.1285379

Asansole-I 5278.40 439.87 525.45119.456

6535 3518.94 3555.88 101.0498437

Asansol-II 6162.79 513.57 568.42110.681

0389 4108.53 4180.65 101.7554756

Barakar 3419.85 284.99 287.08100.734

2427 2279.90 1807.36 79.27373928

TOTAL22206.420 1850.535 1993.32

107.7158768 14804.28 13889.74 93.82246215

STATUS OF REVENUE COLLECTION UPTO Decemb er ' '14 OF FINANCIAL YEA R 2013-14


NAMEOF

DIVISINAME OF CCC

TARGET2014-15 (Rs.

In lacs)


REPORTING MONTH



57/63



FINDINGS:Total target of Asansol Division in the month of Dcember 14 Rs= 1850.535


ONTARGET

(Rs. Inlacs)

COLLECTION

(Rs. Inlacs)

ACHIEVEMENT

%

TARGET(Rs. In lacs)

COLLECTION

(Rs. In lacs)

ACHIEVEMNT %

A

S A N S O L

Hirapur 1129.22 94.10 86.7392.167

91 846.91 753.83 89.009458

Domani 1261.77 105.15 97.0792.315

74 946.33 733.93 77.555398

Rupnarayanpur 1938.70 161.56 150.6793.259

47 1454.03 1099.10 75.589912

Raniganj 3015.69 251.31 317.10126.17

88 2261.77 2410.56 106.57848

Asansole-I 5278.40 439.87 456.15103.70

11 3958.81 4012.03 101.34434

Asansol-II 6162.79 513.57 511.7299.639

78 4622.1 4692.37 101.5203

Barakar 3419.85 284.99 267.4393.838

38 2564.89 2074.79 80.891968

TOTAL22206.420 1850.535 1886.87

101.9635 16654.815 15776.61 94.72702

STATUS OF REVENUE COLLECTION UPTO January ' '15 OF FINANCIAL YEA R 2013-14


NAMEOF

DIVISINAME OF CCC

TARGET2014-15 (Rs.

In lacs)


REPORTING MONTH



58/63


59/63



FINDINGS:Total target of Asansol Division in the month of February 15 Rs= 1850.535


ONTARGET

(Rs. Inlacs)

COLLECTION

(Rs. Inlacs)

ACHIEVEMENT

%

TARGET(Rs. In lacs)

COLLECTION

(Rs. In lacs)

ACHIEVEMNT %

A S A N S O L

Hirapur 1129.22 94.10 73.56 78.17 1035.11 900.94 87.03795243

Domani 1261.77 105.15 77.96 74.14 1156.63 889.95 76.94352763

Rupnarayanpur 1938.70 161.56 102.49 63.44 1777.15 1317.45 74.13281015

Raniganj 3015.69 251.31 217.18 86.42 2764.39 2868.63 103.7709077

Asansole-I 5278.40 439.87 366.48 83.32 4838.55 4786.85 98.93156623

Asansol-II 6162.79 513.57 415.00 80.81 5649.24 5558.35 98.39118359

Barakar 3419.85 284.99 233.19 81.82 3134.87 2524.77 80.53833216

TOTAL22206.420 1850.535 1485.860 80.29 20355.89 18846.94 92.58718056

STATUS OF REVENUE COLLECTION UPTO March ' '15 OF FINANCIAL YEA R 2013-14


NAMEOF

DIVISINAME OF CCC

TARGET2014-15 (Rs.

In lacs)


REPORTING MONTH



60/63



FINDINGS:Total target of Asansol Division in the month of March 15 Rs= 1850.535 lacs.Actual Collection Rs= 4511.670 lacs. Achievement = 243.803%

Comparative statement of collection efficiency of all the month ofFinancial Year 2014-15 of Asansol Division

Month April May June July Aug Sept Oct Nov Dec Jan Feb march TotalTarget 1850

.5351850.535

1850.535

1850.535

1850.535

1850.535

1850.535

1850.5

1850.5

1850.5

1850.5

1850.535

22206.420

ONTARGET

(Rs. Inlacs)

COLLECTION

(Rs. Inlacs)

ACHIEVEMENT

%

TARGET(Rs. In lacs)

COLLECTION

(Rs. In lacs)

ACHIEVEMNT %

A S A N S O L

Hirapur 1129.22 94.10 127.93135.948

7081129.22

1028.87 91.11333487

Domani 1261.77 105.15 108.12102.826

98111261.77

998.07 79.10078699

Rupnarayanpur 1938.70 161.56 138.5985.7832

56821938.70

1456.04 75.10393563

Raniganj 3015.69 251.31 386.15153.656

37713015.69

3254.78 107.9282022

Asansole-I 5278.40 439.87 2095.93476.492

11885278.40

6882.78 130.3951955

Asansol-II 6162.79 513.57 1035.30201.590

51346162.79

6593.65 106.991314

Barakar 3419.85 284.99 619.65217.430

58913419.85

3144.42 91.94613799

TOTAL22206.420 1850.535 4511.670 243.803

548722206.420

23358.61 105.1885446


61/63



35 35 35 35Actualcollection

1325.820

1295.580

1518.230

1950.310

1947.050

1912.340

1947.050

1993.32

1886.87

1584.47

1485.86

4511.670

23358.61

Achieve

ment (%)

71.6

45

70.0

1111

82.0

42

105.3

9

105.

22

103.

34

105.

22

107

.71

101

.96

85.

62

80.

29

243.80 105.18

8

FINDINGS:From the above graph we can say that the collection efficiency of AasansolDivision is fall in the month of May 2014,Aug 2014, Dec 2014, Jan 2015 &

Feb 2015. But collection efficiency is increased as we compare from April2014 to March 2015. And the total Target of FA 2014-15 Rs= 22206.420 .

Actual Collection Rs=23358.61. And Achievement =105.19%.

In the month of march 2015 the achievement is 243.8 because the duepending of Asansol Municipality Corporation (AMC) was cleared by AMCin that month of march so the collection is very high over target.

COMPARATIVE STATEMENT SHOWING ACHIEVEMENT DURING FINANCIALYEAR 2013-14 AND 2014-15

30.4.2014

31.5.2014

30.6.2014

31.7.2014

31.8.2014

30.9.2014

31.10.2014

30.11.2014

31.12.2014

31.1.2015

28.2.2015

31.3.2015

Achievement 71.6 70.0 82.0 105. 105. 103. 105. 107. 102 85.6 80.2 243.

0

50100150200250300

A x i s T i t

l e

Achievement


62/63



Month April May June July Aug Sept Oct Nov Dec Jan Feb March Total2013-14

Actualcollection

1406.22

1306.48

1420.52

1808.440

1800.090

1810.840

1702.100

1641.640

1633.140

1452.360

1412.627

1545.370

1893827

Achieve

ment %

62.23 75.91 64.4

3

73.

76

65.1

5

63.6

9

60.

63

62.6

7

64.

52

62.5

9

73.0

1

74.92 66.5

2014-15

Actualcollection

1325.820

1295.580

1518.230

1950.310

1947.050

1912.340

1947.050

1993.32

1886.87

1584.47

1485.86

4511.670

233561

Achievement %

71.645

70.01111

82.042

105.39

105.22

103.34

105.22

107.71

101.96

85.62

80.29

243.80 1058

FINDINGS:From the comparative statement of FA 2013-14 and 2014-15 it is clear thatthe collection efficiency is high in the financial year 2014-15 meanscollection efficiency is increase in the FA 2014-15. And also the totalamount collected during the FA 2013-14 is Rs 18939.827 in FA 2014-15 is Rs

0

50

100

150

200

250

300

Achievement 2013-14

Achievement2014-15


63/63


23358.61. So collection efficiency is increase in the FA 2014-15 of AsansolDivision.

FINDINGS The company net sales were increased during the two years.

The company profit was increased year by year due to sales increased andefficient management.

Date post:	07-Jul-2018
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A Project Report on Collection Efeciency (WBSEDCL)

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