Caribbean airports are usually owned by the respective
government, however they are run like businesses. Each Caribbean
airport is required to manage and fund their operations, while
continually expand their business. The Caribbean airports have
recently implemented the cloud- based financial management software
called Cari-Fin that helps the individual airport’s Finance
Department keep record of their income and expenses.
Each airport uses the Cari-Fin program to determine how much each
income provider is charged on a periodic basis and the cost per
passenger interaction. Periodic charges include the gate space,
check-in area, runway time and hangar rentals for the aircrafts,
and space rentals for the retail stores. In addition, each airline
charges the passenger a departure tax for use of the airport, and
each retail store gives a cut to the airport based on the amount
spent by each passenger. The Finance Department requests the
Airport’s Management required criteria to calculate the various
charges. This information is input into the Cari-Fin program, which
develops a number of payments plans for the different income
provider types. A Payment Plan File is created to store the
information on each plan, such as the Plan Code, Plan Name, Company
Type, Charges Description, Total, and Payment Period. A report on
the various payment plans is compiled from the File and is sent to
the Sales Department.
Income providers, such as airlines and retail stores, registers
either in person or online. The Sales Department notifies the
Finance Department of the new client and the registration
information is entered by a clerk into the Cari-Fin program, which
includes Company Name, Contact, Telephone Number, Email, Address,
Company Registration Number, and Company Description. This
information is stored in Client Master File, together with a unique
Client ID. This Client ID is emailed to the income provider for
future transactions. The Sales Department schedules a meeting with
the client to review the various payment plans. The Sales
Department notifies the Finance Department of the payment plan
chosen and the Client Master File is updated.
Based on the payment plan selected, Cari-Fin
automatically generates an invoice for each client when payment is
due, which is also stored in the Invoices Database with an Invoice
Number, Date, Description, Discount Amount, Total and Status. This
invoice is sent to the client via email.
Once payment is received, it is verified against the specified
invoice. All payments are based on invoices and are recorded in the
Payments Database with a Receipt Number, Date, Payment Method, and
Total Paid. The program again emails a receipt. However, an
outstanding payment report is also emailed if the payment amount
does not match the invoice total or if no payment has been received
after 1 week from the invoice date. The Status in the Invoice
Database is updated.
Finally, at the beginning of each month, the airport’s Management
requests a financial report on income, which Cari-Fin compiles from
the various database.
question: : Create a Context Diagram for the use of recording income with the Cari-Fin program from the perspective of the Finance Department.
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