ATI Capital fully automated accounting and XBRL reporting to the Central Bank in Transfingrup Management Company

2022: Automation of accounting, tax accounting and reporting processes of the Central Bank of the Russian Federation

On July 21, 2022, AI Capital announced the implementation of a project at Transfingrup Management Company to automate accounting, tax accounting and reporting processes of the Central Bank of the Russian Federation. A comprehensive system allows you to generate XBRL reporting "one button at a time."

Project Objectives and Objectives

At the project initiation stage in 2020. Transfingrup Management Company had the following goals and objectives:

• develop a general concept and architecture of a comprehensive solution for accounting and tax accounting in accordance with the new industry standards (hereinafter referred to as OSBU) of the Central Bank of the Russian Federation for the NFO;
• develop and implement a methodology for accounting on the Unified Plan of Accounts (hereinafter referred to as the EPU) for NFOs in accordance with the provision of the 532-P of the Central Bank of the Russian Federation;
• automate tax accounting and tax reporting;
• develop integration mechanisms with related information systems;
• Ensure complete migration of data from the old accounting system
• Timely report on the XBRL taxonomy to the Bank of Russia.

Contractor Selection Criteria

The main criteria for selecting a contractor, taking into account the extremely short project terms, were:

• Compliance of the basic automation product with the Customer's business requirements;
• Proven methodology for registration of EPU and new OSBU Bank of Russia;
• Experience of large-scale projects for translation of accounting into EPC and automation of XBRL reporting;
• Reputation of a partner and the presence of a high-class team of specialists;
• A unified vision of IT architecture with the customer;
• Willingness to share the risks of a large project in a short time under changing external conditions.

The tender for the implementation of the project was won by iT Capital, a key partner of 1C for automation of the financial sector, the author and developer of circulation solutions for banks and NFOs on the 1C platform, which are used in more than 1000 financial organizations.

Decisions

The basis for the creation of a centralized accounting system was the circulation software product "1S:BNFO KORP" ("1C: Accounting Department of the Non-Credit Financial Organization KORP") of 1C and iT Capital.

To form the reporting, a powerful module "iT Capital: XBRL" was chosen, which is certified by the Central Bank of the Russian Federation according to the maximum option "A1-full."

Project progress

During the project, IT Capital specialists performed the following works:

• a methodology for accounting according to the EPU has been developed and implemented in accordance with the industry standards (OSBU) of the Central Bank of the Russian Federation for NFOs;
• The accounting system was designed and implemented on the basis of the circulation solution "1C: Accounting Department of the NFO," which supports the EPU and OSBU for the NFO;
• design and deployment of the technical architecture of the system and interfaces of exchange with the systems of accounting for financial investments and trust management;
• Data has been transferred to the new System from the previous accounting system.
• full-scale training of users on working in the system was carried out.

Project results

In general, the launch of the solution allowed Transfingrup Management Company:

• optimize accounting and tax accounting according to the new standards of the Central Bank of the Russian Federation;
• create a unified accounting and reporting information system that allows you to generate XBRL reporting to the regulator "one button at a time";
• validate the data before sending to the regulator and make adjustments in one convenient window;
• reduce labor costs for reporting using an automated system certified by the Central Bank of the Russian Federation.