Pension Savings Company automated accounting and tax accounting with the help of Khomnet Group of Companies

2021: Automation of accounting and tax accounting with the help of Homnet Group of Companies

On September 3, 2021, Khomnet announced that the Pension Savings Company (hereinafter PSK), with the help of Khomnet Group of Companies, automated the process of maintaining accounting and tax records, as well as preparing reports in accordance with the requirements of the supervisory authority. The system was built on the decision of the vendor - "Homnet: NFO."

PSK is part of the group of management companies in terms of pension savings in management. The company manages the pension savings funds of the pension fund of the Russian Federation.

Before the project, accounting for EPS in PSK was carried out in a system in which there was no tax accounting unit, so the employees of the management company had to manually reflect a large number of transactions. Also, in the "semi-manual" mode, data was transferred from the accounting system to the software for preparing XBRL reports.

To solve the problems of PSK, Khomnet Group of Companies proposed the Homnet: NFO software product, which includes functionality for automated tax and accounting accounting and the preparation of supervisory and statistical reports. The proposed solution also implements the function of automatically loading data into the XBRL reporting module. In connection with the module "Homnet: XBRL" reporting is generated by the button.

As part of the project, the specialists of the Homnet Group of Companies replaced the current accounting system with Homnet: NFO and set up integration mechanisms:

• automated the loading of securities transactions according to their own portfolio from the back office of the system;
• set up integration with the customer-bank and payroll system.

Functions such as:

• tax accounting;
• accounting;
• preparation of accounting (financial), tax and supervisory statements;
• Accounting of transactions with financial instruments (FI).

The final stage was the training of end users of the system at Homnet: NFO.

As a result, PSK Management Company received an automated system that closed all existing problems, as a result, the number of manual operations was reduced to a minimum, while the burden on the reporting officers was significantly reduced.

Homnet: NFO is supported, the next step will be carried out by the specialists of the Homnet Group of Companies to implement the Homnet: XBRL module of automated reporting in the XBRL format.

{{quote 'author
= commented Andrei Prokofiev, General Director of PSK.|"The decision has full functionality for accounting for financial instruments and trust management, which is very significant for us. Especially in "Homnet: NFO" us involved the ability to automatically upload data to the XBRL reporting module. The project was completed without disrupting the company's current business processes, "-}}