Flouserv

ATK consulting group automated accounting and management accounting for Flouserv company, the Russian subsidiary company Flowserve which is engaged in sale of component parts for the equipment of the oil and gas industry, the chemical industry, power. The project is executed based on the Microsoft Dynamics NAV system.

Before open recently Russian department there were problems of process automation of maintaining and the analysis of the Russian accounting according to the current legislation and, at the same time, data recordings for creation and providing the management reporting to the head company according to the western standards (GAAP). Besides, when choosing the automation system the possibility of a multilateral financial analysis and creation of enough any analytical dimensions was one of the major parameters.

Implementation of a financial circuit of the Enterprise resource planning and creation of a common information space which would ensure joint work of accountant officers and finance division was a project task.

Setup and completion of separate system modules continued six months. At the same time numerous additions were made to a basic configuration.

Implementation was broken into two main stages - creation of a system of accounting according to requirements of the Russian legislation, and the organization of management accounting according to the GAAP standard and specific requirements to the reporting of the head company.

In a system conducting transactions of sales and purchases, drawing of customer accounts and registration of business documents of suppliers, carrying out payments and registration of payments on banking and cash activities, registration and accounting of operations on fixed assets was implemented. Special attention was paid to formation of business documents and also creation of the quarter and annual accounting and management reporting. Within management accounting the mechanisms which added standard functionality of a system on transfer of fiscal data from the Russian company in western were created, revaluation of currency transactions is automated, creation of a preliminary balance on all economic transactions taking into account unaccounted transactions of the financial magazine is developed.

Account policy of the new company was built and developed along with system implementation that defined some features of the project. On the one hand, in the company there was no developed business practice which would contradict the business logic put in a system. On the other hand, on preliminary survey it was difficult to describe business processes and to define some requirements to a system as a part of business processes did not exist yet. As a result, some functional diagrams were processed and specified already at an implementation stage. Such step-by-step mode of development and setup with thorough testing at each stage helped to implement the optimal functionality meeting the requirements of business of the company. During implementation works on setup of compliance of the Russian and western charts of accounts were carried out, and the functionality of transformation of data allowing to undergo operations from the database of the Russian accounting in the database of management accounting and to prepare the final reporting on the basis of the GAAP standard is also implemented. The development expanding standard functionality of management accounting and allowing to consider when forming financial wiring the "linking" of the Russian and managerial account defined in setup and also to prepare the management reporting taking into account this functionality became one more advantage of the created solution.

Especially for the oil company the mechanism allowing to prepare the reporting both on considered, and on the planned transactions was created that allows to analyze both current, and future economic situation and also to check the created transactions before their accounting.

Also additional functionality allowing to make revaluation of currency accounts and to prepare the analytical reporting for the end of a current period was developed, using only data of the Ledger of transactions that supplements conventional processes of revaluation of Microsoft Dynamics NAV.

Further the guide of the customer is going to continue to automate the new sections of accounting appearing in the course of expansion of activity of the company. In particular the module "Resources/work for Automation of the Service Center" was purchased. The number of users will increase by means of connection to the system of remote client places.