Quelle Russia is complete the project of automation of reporting in IFRS

Homnet Consulting and Mayl Order Service Ltd completed the project on automation of reporting according to IFRS based on a system "Homnet: IFRS". Implementation "Homnet: IFRS" in Mayl Order Service Ltd allowed the company to make financial statements for OTTO Group which part it is.

Mayl Order Service Ltd is registered in 2004 as the Russian representative office of the German concern Quelle (Nuremberg). Since November, 2009 Mayl Order Service Ltd is a part of OTTO Group Russia. OTTO Group Russia is accountable to head office OTTO Group (Hamburg) in this connection on a permanent basis the company prepares financial statements for OTTO Group. According to the standards set in OTTO Group, the reporting should be created according to relevant requirements of IFRS, having saved at the same time the accessibility and works with the old reporting under IFRS provided to the German concern Quelle.

Mayl Order Service Ltd made the decision on implementation of the specialized software product allowing to provide parallel formation of financial statements upon the demand of the new shareholder. A choice was made for benefit of a system "by Homnet: IFRS" on the 1C:Enterprise 8 platform.

Specialists of Mayl Order Service Ltd integrated "Homnet: IFRS" with the used 1C: Manufacturing Enterprise Management 8 software product. Specialists of Homnet Consulting company carried out parametrization of a system, executed loading of the chart of accounts, configured broadcast of postings from the Russian chart of accounts in the chart of accounts of IFRS (mepping), performed input of opening balances and configured reporting forms (Balance Sheet, PL Peport, BC100).

Project on implementation "Homnet: The IFRS" are implemented in the planned terms. "Homnet: The IFRS" meet all functional and technical requirements of Mayl Order Service Ltd. The automated system is put into operation and is effectively used by employees.