SFC Group Ajith Nadesan

Handover Note dtd 25-10-2021

HANDOVER NOTE 25-10-2021

Sept 2021 Book closure Related

1 Avenue Steak House

Accounts to reconcile / rectification entries to pass

VAT Control Account – Credit card Commn & Aggregator VAT Invoice not booked July to Sept-2021.
Salary Advance Inter company transfer entries to pass & Match schedule
Visa & Amex 30-09-2021 Outstanding list
Aggregators accounts mismatch-Zomato Credit balance Deliveroo Debit balance - Return orders value -
followup

Interco Reconciliation to complete.

IP Current A/c - SFC
SFCS Current A\c - AV Steak House
SFC Current A\c - AV Steak House
IP Current A\c - AV Steak House
Mardigras Current A\c - AV Steak House
Interco Purchases-SFCS
Interco Purchases
Southern Food & Catering Services (WH)

Co De BMR – Management fee accounting (Currently Crediting to

Accrued exp acct)

Provision for expense

Provision for staff cost
Service provision Account
Staff provision to match with schedule
Provision Air Passage
Provision Leave salary
Provision Gratuity

2 Mardigrass Jaz Bar

Prepaid rent outstanding AED. 375,342/= Pending decision to account as expense or carry over.
Fixed assets Gross AED. 1,239,061/= (Depreciation Prov. AED. 1,233,653/=) Net AED.5,408/=

Interco Balances to reconcile & match

IP Current A/C – MG
SFC Current A/C – MG
SFCS Current A/C – MG
AV Steak House Current A\c – MG
INPUT VAT RECEIVABLE Account have a credit balance of AED.161.46

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Handover Note dtd 25-10-2021

3 STHAN Restaurant LLC

Visa Account Sept-2021 outstanding list

Aggregator balance confirmation-Outstanding list-- Return orders value - followup
Salary advance- Inter company transfer entries to pass & Match schedule
VAT Control account Credit balance AED.78.20

Interco Balances to reconcile & match

SFC Current A/C - Sthan

SFCS Current A/C - Sthan
IP Current A/C - Sthan
Interco Purchases
Southern Food & Catering Services (WH)
Southern Fried Chicken - (Payable)
India Palace Restaurant - (Payable)

ADCB Merchant Services (Credit card commn VAT Inv) account showing debit balance of
AED.2,331.54 needs to pass reversal entry

Reconcile to confirm for the Actual provisions if any pending

Provision for Expenses
Provision For Insurance
Provision For Registration
Provision Staff Cost
Provision For Doubtful Loan/Adv.
Accrued Expenses
Accrued Rent
Service Provision Account

Cost Of Goods Sold account showing a debit balance of AED.3,443.86.

This account is usually using to book recharge items cost, as there is no recharge income in Sthan TB.

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Handover Note dtd 25-10-2021

4 India Palace Restaurant LLC

Stock Mina Warehouse debit balance AED.6,306.80 (can be wrong postings needs to rectify)
Stock On Hand Staff Amenities Confirmation from Rahul HRD
ADCB Touch point & AMEX accounts showing credit balances
VISA Account outstanding list 30-09-2021
City ledger – Reconciliation
Credit others receivable – Reconciliation
Credit Receivable Gift Coupons – Reconciliation
Aggregators account reconciliation outstanding confirmation. - Return orders value - followup

Provision for Bangle sale acct balance to set off

Advances for order Reconciliation & pending advances list-follow up for pending bills
Salary advance- Inter company transfer entries to pass & Match schedule
VAT Control account - Sept-2021 VAT invoice tobook of Credit card commission

Interco Balances to reconcile & match

SFC Current A/c - IP
SFCS Current A/c - IP
IP Current A/c - SFC
SFCS Current A\c - IP GDR
Sthan Current A\c - IP
Mardigras Current A\c - IP
SFC Current A\c - IPDxb
SFCS Current A\c - IPShj
Avenue Hotel
Interco Customer-SFCS
Interco Customer-IP
Interco Customer-49ERS
Interco Customer-GDR
Interco Purchases-IP
Intercompany Supplies
Sthan Restaurant LLC - (Receivable)
Interco Customer
AVENUE STEAK HOUSE - (Receivable)
AV Steak House Current A\c - IP

Cash On Hand pending list 30-09-2021

Supplier account debit balances
Sales Account (WH)
Recharges Income
Cost of Goods Sold Revenue & cost to match (Internal billing)
Ajith Nadesan

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Handover Note dtd 25-10-2021

Staff provision to match with schedule

Provision Air Passage
Provision Leave salary
Provision Gratuity

Provision Accounts to reconcile & pass rectification entries

Provision for Expenses
Provision For Insurance
Provision Labour & Immigration
Provision Staff Cost
Provision for Bangle sale
Accrued Rent
Service Provision Account
Admin Expense Apportioned – should be 50% of Dubai Office cost

SRM Accommodation Rent provision & Electricity provisions to setoff

5 Southern Fried Chicken Restaurant LLC

Stock Mina Warehouse - This account belongs to SFCS needs to rectify entries
Stock On Hand Staff Amenities - Rahul needs to confirm stock
Visa Card – Outstanding details Month end
City ledger balance to reconcile & charge to respective staff
Credit others receivable to reconcile
Aggregators account balances to confirm - Return orders value - follow up
Cash Customer Sales Round off diff to setoff
Insurance claim Non receivable amount to charge P&L
Advances for Order - Reconciliation & pending adv. list - follow up for pending bills
Salary advance- Inter company transfer entries to pass & Match schedule
Salik Tag Account – pending entries to pass
VAT Control Account reconcile & pending list update

Interco Balances to reconcile & match

SFC Current A/c – IP - Wrong postings

SFC Current A/c – SFCS - Wrong postings
IP Current A/c – SFC
SFCS Current A/c – SFC
Sthan Current A\c – SFC
Mardigras Current A\c – SFC
IP Dubai Current A/c – SFC - Wrong postings
AV Steak House Current A\c – SFC
Avenue Hotel
Interco Customer-SFC
Interco Customer-SFCS
Interco Customer-IP

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Handover Note dtd 25-10-2021

Avenue Hotel - (Payable)

Intercompany Supplies
Avenue Hotel (WH) - (Receivable)
Sthan Restaurant LLC - (Receivable)
Interco Customer

Cash on hand – Pending cash list as on 30-09-2021

Supplier account debit balances

Supplier ledger cash purchases account
ADCB Merchant Services – Account credit balance to setoff (VAT Invoice booking)
Unbilled Pur AC reconcile & pending list of PVs to book

Accounts to reconcile & match provisions

Provision for Expenses

Provision For Insurance
Provision For Registration
Provision Labour & Immigration
Provision Staff Cost
Accrued Electricity
Accrued Expenses
Accrued Rent
Service Provision Account
Service Control Account

Al Nadha Accommodation Rent provision & Electricity provisions to setoff

Staff provision to match with schedule

Provision Air Passage
Provision Leave salary
Provision Gratuity

Sales Account (WH) Non VATABLE

Recharges Income COST SHOWING HIGHERTHAN REVENUE
Cost Of Goods Sold
Cost of Sale Non Food / Rentals/Packing

Admin Expense Apportioned - SHOULD BE 50% OF DUBAI OFFICE TOTAL COST

6 Southern Food & Catering Services LLC

Warehouse
Stock updated & surplus Trfrd to Warehouse expenses account
Total purchases & Total issue values match & saved in the WH P&L File
P&L to update July to Sept-2021 & distribute the surplus among SFC/SFCS & OPR based on the total
value of transfers from WH-Explained to Vamsi & File in server folder

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Handover Note dtd 25-10-2021

(=+'Z:\001 SFC-pay\AN Shared Files\01 AUDIT FILES\2021\03 Sept-2021 closing\Working Files Sept-
2021\SFCS Sept-2021\WH P&L Sept-2021.xls)

Stock Mina Warehouse – Purchases & issues to match July to Sept-2021

Stock On Hand Engg Stores – Purchases & issues to match July to Sept-2021
Stock On Hand Engg Store Dxb Stock confirm & needs to add with Main engg stock
Stock On Hand Tailoring Items – Total consumption along with other expenses of Tailoring dept to set off
with Provision for Staff cost
Stock On Hand SRC Store account showing a value of AED.50.75 entry to rectify
Stock On Hand Kizad Store – confirm stock
Stock on Hand (F&B) Units - balance to match with location wise
Insurance Claim Receivable – non receivable amounts to charge P&L

Deffered Expenditure – Total cost of Engg-Project dept up to Jun-2021 needs to charge to group enties
along with current period expense.
Salary advance- Inter company transfer entries to pass & Match schedule
Advances for Order – Reconcile & Pending list - follow up for pending bills
Advance for Expenses reconciliation
VAT Control Account
Abu Dhabi Toll Gate – Regn & other expenses to book Mr Ganesh to provide details

RAK Bank Travel Card (AED 78490002793) balance to reconcile Siju

ADCB Debit Card (5264-0801-8853-2701) balance to reconcile Siju
CBD Cash Online (Abudhabi) – Dubai Visa online account to close (Balance AED. 14,658/=)

Interco Balances to reconcile & match

GDR Current A\c – SFCS – Wrong postings to rectify
49ers Curent A/c – SFCS
IP Current A/c – SFCS
SFC Current A/c – SFCS
Avenue Current Account – SFCS
IP Current A/c – SFC – Wrong postings to rectify
SFCS Current A/c – SFC – Wrong postings to rectify
Sthan Current A\c - SFCS
Mardigras Current A\c – SFCS
IP Dubai Current A/c – SFCS – Wrong postings to rectify
IP Sharjah Current A/c – SFCS – Wrong postings to rectify
Mardigras Bar - (Receivable)
Avenue Hotel (WH) - (Receivable)
Sthan Restaurant LLC - (Receivable)
Avenue Hotel
Interco Customer-SFC
Interco Customer-SFCS
Interco Customer-IP
Interco Customer-GDR
Interco Customer-Av
Interco Customer
Avenue Hotel - (Payable)

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SFC Group Ajith Nadesan
Handover Note dtd 25-10-2021

Interco Purchases-IP
Interco Purchases-Av
Avenue Steake House
AVENUE STEAK HOUSE - (Receivable)
AV Steak House Current A\c – SFCS

Supplier account debit balances to reconcile & rectify pending listing

Beach Market Credit balance of AED.136,150/=
Carlisle Technical Service LLC – Invoice to book
Technical Suppliers & Services Co LLC Invoice to book
Unbilled Pur AC AED. 135,146.28 to reconcile & list unbooked PV
Sh. Mohd.Bin Sultan Bin Suroor AL Dhaheri Debit AED.5,000/= HO Office Rent VAT tenancy in the name
of OCTech)

Provision for Expenses

Provision For Insurance
Provision Labour & Immigration
Provision Staff Cost
Accrued Rent
Service Provision Account

Retention (Suppliers) - pending retention amount to update

Staff provision to match with schedule

Provision Air Passage
Provision Leave salary
Provision Gratuity

Sales Account (WH)

Sales Account (WH) Non VATABLE
Recharges Income COST to match with revenue (Internal billing)
Cost Of Goods Sold
Cost of Sale Non Food / Rentals/Packing

Interest Income Received AED.430,801/=ETTS Overdue int. charges Can we treat as current income?

Head Office expenses allocation & match with Provisions

July Sept-2021 Calculation & Allocation sheet made & explained to Vamsi
Can finalise once Other provisions accounts reconciled & rectification entries passed
(=+'Z:\001 SFC-pay\AN Shared Files\01 AUDIT FILES\2021\03 Sept-2021 closing\Working Files Sept-
2021\SFCS Sept-2021\HO TB & Prov Setoff Jul to Sept-2021.xls)

Engineering (maintenance Dept & PROJECT Dept) cost allocation & match with provisions.
Up to June Workings in server folder & explained to Vamsi
(=+'Z:\001 SFC-pay\AN Shared Files\01 AUDIT FILES\2021\01 SFC Group June-2021 Financials\
Workings\SFCS\Engg Dept TB & Allocation Jun-21.xls)

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SFC Group Ajith Nadesan
Handover Note dtd 25-10-2021

Tasks completed Sept-2021

= Depreciation Schedule updated up to Sept-2021 & depreciation diff entry passed.

Avenue Steak House
Mardigrass Jaz Bar
Sthan Restaurant LLC
India Palace Restaurant LLC
Southern Food & Catering Services
Southern Fried Chicken Restaurant LLC
(=+'Z:\001 SFC-pay\AN Shared Files\01 AUDIT FILES\2021\03 Sept-2021 closing\)Individual folders

= Prepaid rent schedule updated & book entries passed

Avenue Steak House
Mardigrass Jaz Bar
Sthan Restaurant LLC
India Palace Restaurant LLC
Southern Food & Catering Services
Southern Fried Chicken Restaurant LLC
(=+'Z:\001 SFC-pay\AN Shared Files\01 AUDIT FILES\2021\03 Sept-2021 closing\)Individual folders

Advances & payable schedules updated up to Sept-2021

Avenue Steak House
Mardigrass Jaz Bar
Sthan Restaurant LLC
(=+'Z:\001 SFC-pay\AN Shared Files\01 AUDIT FILES\2021\03 Sept-2021 closing\)Individual folders

Advances & payable schedules Partially updated up to Sept-2021

India Palace Restaurant LLC
Southern Fried Chicken Restaurant LLC
(=+'Z:\001 SFC-pay\AN Shared Files\01 AUDIT FILES\2021\03 Sept-2021 closing\)Individual folders

Other Areas

Executive payroll (In old system - running in foxpro)

Deduction entry (Fadhel Pension fund Ded AED.900/=)/Time sheet updation/Leave settlements
PRO claim checking & matching with float
Account opening in Focus as per requests from concerned Dept/team member
Monthly Bank reconciliation checking

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SFC Group Ajith Nadesan
Handover Note dtd 25-10-2021