CONTO. Модуль “Розробка програмного забезпечення”

Management of International Offices

CONTO. The “Software Development” module allows the application of unified financial accounting standards for all companies, branches, and departments located in different countries. This enables more effective management of an international company. As a result, there is the ability to promptly generate reports on the financial status of all business units within the company group, which follow unified rules, including the main IFRS reports in a single reporting currency.

• The ability to set individual currency accounting for each organization (office).

The functionality allows for the use of three types of currencies:

• Local currency for statutory reporting: the base currency used for accounting by the legal entity according to local regulations.
• Functional currency for international accounting: the currency primarily used in the main economic environment in which the enterprise operates.
• Presentation currency for international accounting: the currency in which the enterprise presents its international financial statements.

• Ability to set currency exchange rates from various sources

For each currency, the source for downloading currency exchange rates is specified across organizations. When displaying transactions in a currency different from the organization’s base currency, conversion is performed using the specified rate.

• VAT and Sales Tax Accounting

The configuration includes a mechanism for setting up tax accounting for each office of the company, including a number of countries in the EU, USA, and Japan.

• Posting Translation into IFRS

The functionality includes displaying accounting entries in IFRS based on an individual chart of accounts. The ability to configure the correspondence of accounts between local and international accounting is provided.

Maintaining financial records across all offices

The configuration allows for parallel accounting across company offices depending on their specific requirements, with subsequent generation of management reports reflecting key performance indicators of the entire group broken down by business units (legal entities), products (items), etc.

Thanks to a unified centralized database, the system enables efficient management of procurement processes and group resources, as well as consolidation of sales channel data across all countries and prompt financial analysis.

• Availability of Local Chart of Accounts

The main feature of the developed module is the ability to configure an individual chart of accounts and transaction representations for each office of the company.

The chart of accounts allows specifying three main levels of analytical breakdowns, as well as additional ones – accounting by departments and business areas.

• Display of Accounting Transactions According to Individual Chart of Accounts

The functionality of configuring accounting operations allows managing the settings for displaying accounting transactions for each document, with the possibility of setting conditions.

Under commercial operations, rules for displaying accounting entries are flexibly configured.

• Management Accounting Across Offices

To enable parallel accounting within the system, there is functionality that automatically duplicates documents entered into the program for management purposes. This allows for subsequent financial accounting and cost calculation separately based on regulatory accounting data and management accounting data.

Financial Reporting

The configuration also offers flexibility in building and obtaining various report options, consolidating data, and presenting reports across offices.

• Regulatory Reporting

Reports on the activities of residents (accounting, tax accounting, and reporting according to Ukrainian Accounting standards /IFRS):

– Financial Statements according to regulatory accounting
– Balance Sheet according to regulatory accounting

• IFRS Reporting

Reports on the activities of non-residents:

– Financial Statements under International Accounting Standards

• Management Accounting Across Offices

The ability to customize P&L, CashFlow, and Balance Sheet reports using uploaded templates with the option to choose the data source for construction (accounting entries for local accounting or data registries);

– Management reports (P&L, CashFlow, Financial Result, Gross Profit) across all company offices.

Costing of Software Development Projects

A mechanism has been developed for the automatic calculation of project costs, based on the principle of having a specific project code throughout the document process chain. Automatic allocation of actual labor costs to projects is provided with reference to the code, along with the generation of work orders and products of employees.

As a result, the ability to generate reports on project profitability, variance analysis of costs, monitoring of labor costs, and the cost of project teams in terms of specific specialists, types of work, etc., becomes available.

Automation of Payment Calculation for Individual Entrepreneurs (IEs), including Office Rental (Coworking)

The system has been enhanced with functionality for the automatic calculation of payments to individual entrepreneurs (IEs) providing services to clients, including office rental (coworking). This mechanism minimizes the time spent on document processing in the system, enables quick adjustments, and facilitates the management of payment processes with individual entrepreneurs.

• Capability for Tracking and Remuneration Calculation of Freelancers

An algorithm has been developed to facilitate the agreement process with individual entrepreneurs (IEs) within the regulated accounting framework. This includes simultaneous integration of the specialist into the Human Resources and Payroll subsystems of the standard ERP configuration, followed by the computation of their remuneration.

• Functionality: Invoice Generation

Automated creation of Goods and Services Receipt documents, Requests for Expenditure of Funds for each specialist, as well as acts and invoices for coworking.

A document package (Work Completion Report and Invoice) is automatically generated with a breakdown of the services provided by the individual entrepreneur (IE).

• Time Tracking for Specialists and Absence Management

The tracking of worked hours is managed through the “Time Tracking Sheet” document.

A separate record is maintained for tracking annual leave days throughout the calendar year, with any unused days being carried over annually.

Additionally, a system has been developed to track limited types of time, such as sick days. Within this system, days within the allotted limit are compensated in a certain manner, while those exceeding the limit are not compensated.

• Calculation of Compensation for Specialists with Different Forms of Collaboration

The system offers the capability to remunerate in various currencies (hryvnia, dollars, euros), with the option to add any additional currencies.

Functionality has been developed for payment based on hourly rates or fixed salaries, which remain constant regardless of the number of hours worked per month.

It is possible to calculate various bonuses, one-time compensations, and deductions.

• Automation of operations accounting for workspace rental (coworking), accounting services, and computer equipment rental.

The functionality includes the following algorithm:

• The user adds a self-employed individual (SEI) to the lease agreement and records the amounts for specific services.
• On a regular basis (quarterly), the compensation amount for coworking is automatically generated for all active agreements.
• When making payments as part of the compensation, an invoice is generated for payment to the self-employed specialist (SEI).

A package of acts for all prepaid coworking services is created monthly.

Integration and Exchange with Existing Systems

CONTO-Development, thanks to its open architecture, can be integrated with corporate sales and project management systems such as SalesForce, Microsoft Dynamics CRM, Oracle CRM, JIRA, and others. Additionally, exchanges can be configured with accounting and tax accounting systems widely used in various countries.