Dzhili-Motors completed automation of preparation of the reporting under IFRS

On July 25, 2016 The First BIT company announced automation of financial statements on the BIT .FINANS platform in Dzhili-Motors company.

Project Tasks

To provide interaction with parent organization in China and to prepare operational financial statements of Dzhili-Motors LLC it was required to automate accounting according to IFRS and to customize correct integration of two accounting systems: 1C and SAP.

Advertizing Geely, (2015)

For this purpose based on "1C: Integrated Automation 8" the solution for financial accounting and budgeting of BIT .FINANS is set . Management accounting.

It is expected that the Geely International Corporation company will obtain data of operational accounting of Dzhili-Motors LLC in the system of SAP in real time.

Project Progress

Implementation is carried out in three steps:

• the first stage implemented option of automation of IFRS reporting transformation of the reporting from RAS in IFRS.
• the second stage specialists executed the project of parallel accounting according to IFRS on the basis of BIT .FINANS
• at the third stage – the project of setup of automatic unloading of postings by the international chart of accounts from 1C in the system of SAP of head company Geely International Corporation.

During the project 60 jobs in four divisions of the company are automated:

• financial department,
• sales departments,
• purchasing departments,
• departments of logistics.

Project Results

Within the project transformation of accounts from RAS in IFRS is configured, unloading of data from 1C in SAP is implemented. In a project deliverable the Dzhili-Motors company reduced costs of working time for report generation on budgets, control and the analysis of budget indicators.

The internal control system of financial and economic activity of the customer from the founder improved. Labor costs on preparation of the reporting of IFRS, as at the staff of Dzhili-Motors LLC (Russia), and Geely International Corporation (China) were reduced.