Like Center manages finances with 1C-Rarus: Financial Management 3

2021: Automated Financial Management

Business School Like Center automated financial management with the 1C-Rarus: Financial Management solution. This was announced by 1C-Rarus on February 11, 2021. The company combined all financial flows in one system, ensured control of cash transactions and simplified budgeting.

Like Center - School of Entrepreneurship. The company has been operating since 2015 and has as of February 2021 more than 170 representative offices in Russian cities, CIS countries, Europe and Asia. Among the educational programs of the Center are practical courses, online conferences, a mentoring school, lectures and webinars.

Previously, the company kept records of funds and planned the budget in spreadsheets. Each day, more than a hundred payments were uploaded from payment systems to the tables and manually compared with receipts on the settlement account and the names of educational products. Data on the BDDS of ten units were also manually consolidated. All expense requests were first reconciled with the budget planned in the spreadsheets, then manually created payments and made to the customer-bank.

It was necessary to automate budgeting, control income and expenditure and simplify the preparation of financial statements. For automation, they chose the solution 1C-Rarus": Financial Management 3" which 1C-Rarus experts helped to implement.

Project Results

• Receipts from payment systems are downloaded directly to 1C in accordance with the automatic definition of educational products.
• The consolidated budget is automatically generated based on department budgets.
• Requests for spending funds are automatically reconciled with budget limits and receive markups for the reconciliator, which are planned in the budget, and which are not.
• The payment register is being approved. Payments are created and uploaded to the customer-bank automatically.

At the start of the project, good communications and good relations with the project team developed. The team studied the business processes of our company, which made it possible to correctly formulate tasks. All issues were worked out qualitatively, there were always optimal solutions to controversial issues. At the same time, the main goal has always been to achieve the goal of the project, and not to prove the truth. All questions and tasks were completed, qualitative solutions were found. I am pleased with the result, said Sergey Merkulov, CFO of Like Center