ZEBRA

Accounting for a company in the field of wholesale trade. In the case, we talk about how we automated the preparation of management reporting by 95%, reduced of the time required to prepare corporate statements from 3 to 1 business day, reduced of costs per function by 60%, and increased the reliability of statements up to 100%.

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• TASK

  Convergence of accounting records according to RAS and IFRS​.

  Increasing the speed of preparing corporate statements, taking into account early closing dates of the period.

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• SOLUTION

  The Homnet: IFRS 8 solution was set up based on 1C: Enterprise Accounting to automate the preparation of IFRS statements. The software ensures correspondence between the RAS posting accounts and the corporate chart of accounts approved by the client. After making the settings, reports uploaded to the database and posted for accounting purposes are automatically generated according to the rules of the customer’s management account​.

  Verification of posting transmission in IFRS was set up. During verification, the system displays a list of documents that are encountered for the first time and do not have specified settings for correct transmission.

  
  
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• RESULT

  The correspondence between RAS postings and the IFRS chart of account automated the preparation of management reporting by 95%​.

  Reduction of the time required to prepare corporate statements from 3 to 1 business day, which makes early closing possible (first Tuesday of the month)​.

  Reduction of costs per function by 60% due to the lack of need for overtime work and work on weekends​.

  Setting up the management reporting, taking into account internal rules for coding accounts and with a set-up breakdown of financial results by department​.

  Increasing the reliability of statements up to 100% due to the implemented function of posting transmission verification.