Executive Summary

The title of my project here at OLX India Pvt Ltd. is "Accounts Payable Process and
Policies". Accounts Payable was a challenging and stimulating task required a great deal of
commitment,and hard work.lt was a great learning experience and gave me an insight into
the corporate life.The AP has to make payments to all the geographies.The Payments is done
in batches.The software used is Oracle.l have also learnt about the various other processes
which forms a part of AP i.e. expense report and veryon process and some new
terminologies.l worked on Bank Reconciliation Statement. The company prepares the bank
reconciliations manually.The manual Bank Reconciliations are prepared for all the Bank
Accounts.The Bank Reconciliations are prepared in Excelfor all Bank Accounts.BRS is
prepared by Finance Executive, reviewed and approved by Finance Controller.ln this Repon
I analysed ratio of default vendors and Vendors have no default by using pie charts, It was
indeed a pleasure to be given the opportunity of working at OLX India Pvt Ltd.

Chapter 2: Research Methodology

Business Research is done for various purposes. Research is conducted in order to find out
whether a company should enter into a particular market or not, assess competitors or to
select a marketing strategy for a product. In this I am going to analyse the problem during
the invoice processing.

2.1 Objectives and Scope

 • To study the OLX's functionality regarding the purchases for manufacturing and
assembling.
e
To study the working of the materials management team under the finance
department in order to gain insight into functions and operations of the department
regarding the purchases.

• The main work of Account Payable Process is to get All invoices scanned later on
upload and post these documents in ORACLE NETSUIT SOFTWARE which is
handled by AP.

2.3 Sources of data collection

• I will be using Primary data i.e. the invoices received from the vendors with all
expense details.
• It will be recorded in input register file in excel and then it will be uploaded in
ORACLE Netsuit Software.

2.4 Data analysis - tools/techniques

• I analysed my data by using MS Excel.l will show my analysis by using charts.

2.5 Sampling design

I have sample size of 106 vendors :

• out of which there is default in invoice no. of 18 vendors. out of which there is
default in HSN Code of 30 vendors. Out of which there is default in GSTIN of 7
vendors.

Conclusion
 • I had learned the characteristic feature and roles of a manager in a e-
commerce industry.
• And also I learned that how the managers are handling their people
and their business to give a good result in their business to achieve
the goal of the company.
• In concluding it can be argued that essential work under purchase
manager that the purchase procedure of the company was offer
inconsistent information.
Accounts Payable was a challenging and stimulating task required a great
deal of commitment,and hard work.
• It was a great learning experience and gave me an insight into the
corporate life.The AP has to make payments to all the
geographies.
• In this Report I analysed ratio of default vendors and Vendors
have no default by using pie charts. It was indeed a pleasure to
be given the opportunity of working at OLX India Pvt Ltd.

Chapter 6: Recommendation

It was a great time in OLX.Everything was good but there is miscommunication between finance
and IT team regarding Details of Fixed Assets.IT Team have all the details of Fixed Assets.They
buy assets and then they give the serial no. to the assets.but they don't give the details of serial no.,
location and users information of the assets to the finance team.So that Finance Team could not be
able to update their fixed assets register so that the assets which was not assigned any serial no.
and location,they could not be insured. So my suggestion is that finance team should fixed a
meeting with IT Team in every month.
IT team and Finance team should create a google sheet of Fixed Assets So that Finance team
can update the fixed assets register.
Every employee should come on time and must not leave unless and until the work is
completed.
Invoice processing should be transform from manually to automatically.

That means when it the mail is received it should be added simontaneously to the software.
A employee should give freedom to make his suggestions to the company in a suggestion
box.
Middle level employees should be a part of decision making process. Given
work and to complete it,the time should be parallel to each other.