comp final 1 1 final report
H & Z Khusa Collection
Computing III project (2014)
Group members:
Maham Fatima
Anum Nawaz Maan
Kashaf Ashraf
Fatimah Babur
Submitted to: Miss SeherZareen
History and Introduction to the Company
H & Z Khussa Collection offers exclusive HANDMADE KHUSSA's designed by Hina Fatima and Zara Fatima for girls/ladies (a sole business proprietor). Customized Khussas & Matching Clutches are also available. The business was started with a very low initial capital but within a few years due to the excellent quality of their products the demand grew enormously and now they hold business in several exhibitions and operate online globally too.
Statement of problem
(Maham Fatima)
Older Method Used
In the past the business used the manual system of record keeping. The shopkeeper was responsible for making these sales records. He had been provided with entry registers (journals), where he records and maintained the daily sale structures and transactions. The shopkeeper each time makes an entry on his book whenever a transaction is carried out, there is a change in the stock level or a receipt for a certain customer is being made.
The journals were divided into separate sections for receipts, payments, wages and superannuation, bank reconciliation, inventory and others. He recorded the business transactions manually in the appropriate sections for each month.
All transactions were recorded in one of these journals. It recorded the flow of income and expenses and was practical for a small business just starting out.
The cash disbursements journal records the money business spends. It had columns for various categories of expenditures with a line for each expenditure, including date, check number, payee, description of expense and total amount. Summarizing, the business keeps the following records:
Summary of receipts of gross income – totaled daily, weekly or monthly. Keep track of where their money comes from, putting notes explaining the origin
Computing III project (2014)
Group members:
Maham Fatima
Anum Nawaz Maan
Kashaf Ashraf
Fatimah Babur
Submitted to: Miss SeherZareen
History and Introduction to the Company
H & Z Khussa Collection offers exclusive HANDMADE KHUSSA's designed by Hina Fatima and Zara Fatima for girls/ladies (a sole business proprietor). Customized Khussas & Matching Clutches are also available. The business was started with a very low initial capital but within a few years due to the excellent quality of their products the demand grew enormously and now they hold business in several exhibitions and operate online globally too.
Statement of problem
(Maham Fatima)
Older Method Used
In the past the business used the manual system of record keeping. The shopkeeper was responsible for making these sales records. He had been provided with entry registers (journals), where he records and maintained the daily sale structures and transactions. The shopkeeper each time makes an entry on his book whenever a transaction is carried out, there is a change in the stock level or a receipt for a certain customer is being made.
The journals were divided into separate sections for receipts, payments, wages and superannuation, bank reconciliation, inventory and others. He recorded the business transactions manually in the appropriate sections for each month.
All transactions were recorded in one of these journals. It recorded the flow of income and expenses and was practical for a small business just starting out.
The cash disbursements journal records the money business spends. It had columns for various categories of expenditures with a line for each expenditure, including date, check number, payee, description of expense and total amount. Summarizing, the business keeps the following records:
Summary of receipts of gross income – totaled daily, weekly or monthly. Keep track of where their money comes from, putting notes explaining the origin