"Sberbank Asset management" automated accounting and formation of the regulated reporting

On December 15, 2017 the IT Capital company announced project completion implementation of an automated system of accounting and formation of the regulated reporting in JSC Sberbank Asset Management.

Project Tasks

Analyzing the market of automation systems of accounting of NFO, the company stopped the choice on IT Capital and their technologies: "1C: Accounting of non-credit financial institution CORP" and "IT Capital: XBRL".

The project began in 2017. Among the main objectives:

• Development and deployment of new methodology of accounting in the Unified Plan of Accounts (UPA) according to industry standards (OSBU) of the Central Bank of the Russian Federation for the Management Companies (MC).
• Setup and implementation of the New system of accounting supporting EPS and OSBU for the Non-credit Financial Institutions (NCFI).
• Ensuring complete data transfer on all transactions with RAS on EPS from the current accounting system.
• Automation of formation of the accounting financial statements (AFS). Automation of formation of supervising and statistical reporting (sales tax).
• Timely formation of accounting (financial) XBRL - the reporting for check by the Regulator in the indicative period during 2017.
• Timely formation nadzorno - statistical XBRL - the reporting for check by the Regulator in the indicative period during 2017.

Project Progress

IT Capital completed phases of works:

• Setup of the basic solution "1C: Accounting NFO" according to new methodology of accounting of EPS and new account policy;
• Migration (transfer) of initial data – NSI (it is normative – the reference information) and transformation of an introductory remaining balance from RAS in EPS;
• Migration of documents and turnovers on all transactions;
• Design of Technical architecture and interfaces of exchange with the existing accounting systems.
• Development and implementation of integration with adjacent accounting systems:
  • "1C Management of Holding";
  • "Salary and Personnel management for NFO" with the internal accounting system of back office;
  • User training;

During the project IT Capital gave expert and methodological support on all arising questions from the customer.

In a project deliverable functional subsystems are implemented:

• Accounting of administrative activities;
• Integration with the adjacent systems;
• Regulatory reporting of BFO and sales tax PURTsB;
• Regulatory reporting of BFO and sales tax UK mutual fund;
• Formation of the XBRL reporting under different points of entry

Project Results

Relying on results of preparation of the reporting in I, II and III quarters 2017, the company considers achieved a project objective – regular, timely automatic formation of the regulated reporting under OSBU, the reporting in the XBRL standard.