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August 20, 2020

Accounting Automation based on 1C‑Rarus:Finance Management 3 Hines International Inc. Moscow office

Hines International Inc. located in Moscow, is engaged in the management and operation of Class A commercial real estate, development, construction management and leasing.

Facing the need to automate financial, accounting and tax accounting, the management of the Moscow office of Hines International, Inc. decided to create a single information system.

1C-Rarus was chosen by Hines International Inc. as a contractor on the project, being a highly professional and reliable partner with extensive experience in the automation of accounting systems, with ISO 9001: 2015 certificate confirming the quality of the management system.

The 1C-Rarus:Finance Management 3 software, a product of the 1C:Enterprise 8 program system, served as the basis for building new information system. The continuous support and updates of the accounting system by the manufacturer played an important role while choosing the software because it’s allowed the accounting to be performed in full compliance with the current Russian Legislation.

Introduction of the new accounting system allowed to automate such tasks as:

  • Accounting:
    • Bank and cash desk;
    • Settlements with counterparties;
    • Inventory items;
    • Trade transactions;
    • Fixed assets;
    • Intangible assets;
    • Period-end closing;
    • Regulatory reporting.
  • Tax accounting.
  • Budgeting, financial planning.
  • Financial analysis.
  • IFRS accounting.

Outlet Moscow

Image from the site www.hines.com

The 1C-Rarus specialists conducted the following works during the project:

  • Provided advice on the software choice and options for its support.
  • Processed the sale and delivery of the chosen software.
  • Gathered and analyzed the client requirements for the automated system.
  • Ensured methodological support and technical implementation of specific  accounting and management features:
    • Improved the mechanisms of partially automatic filling out of system documents, the entry on the template-basis, business transactions reflection of  the international accounting, accounting of income and expense budgets in particular forms necessary for more convenient and swift preparation of company's management reporting. Hence, the system performance has been enhanced due to revision, unification and complex testing of extended functionality.
      We developed a unique mechanism for managing extended features, which makes it very easy to customize the functionality of Hines to the needs of each individual legal entity of the holding.
    • The existing Company’s external reports and processing were adapted to automate the Company's document management. Configuring the extension mechanisms allowed us to implement all the extended functionalities, which significantly reduced time for updating the software versions.
  • Created interfaces and sets of user rights.
  • Set up the initial settings of the program to start the accounting.
  • Conducted user training.

The support of the accounting system is also being carried out.

The use of the new information system made it possible to automate the accounting, tax and financial accounting in the Company, it significantly reduced labor costs for the preparation of financial statements, and also reduced labor costs for updating and making sure the configuration is up to date. The IFRS module allows users quickly create transactions according to the international standard. Thanks to the integration of all financial services, it became possible to control the financial results of the Company.

1С-Rarus:Finance Management 3. Budgeting + IFRS. Main delivery
1C-Rarus Moscow
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Customer Testimonial

The representative office of Hines International, Inc. in Moscow is engaged in property and facility management of Class A commercial real estate, development, construction management and leasing.

To automate bookkeeping, financial and tax accounting, the Moscow office management team of Hines International, Inc. decided to create a unified information system.

1C-Rarus was selected as a Project contractor, as a highly professional and reliable partner, experienced in the automation of accounting systems and certified according to the ISO 9001:2015 quality management system.

1С:Financial Management 3 was chosen as a basis for the development of the accounting system. The first line support provided by the software developer, as well as software updates that allowed keeping records according to the current legislation of the Russian Federation, played a significant role in the software selection.

The software implementation allowed such automating accounting processes as:

  • Bookkeeping;
  • Bank and cash;
  • Settlements with counterparties;
  • Commodities and materials;
  • Trading transactions;
  • Fixed assets;
  • Intangible assets;
  • Period-end closing;
  • Regulated accounting;
  • Tax accounting;
  • Budgeting and finance planning;
  • Financial analysis;
  • Accounting under IFRS.

During the Project, 1C-Rarus specialists performed the following work:

  • Consultation on software selection and support options.
  • Sales and delivery of the selected software.
  • Collection and analysis of customer requirements related to the automated system.
  • Methodological support and technical implementation of accounting and management specifics:
    • Extended mechanisms for semi-automatic document fill-in, input based on other documents, reflection of business transactions in the international accounting and income & expenditure budget in terms of special dimensions needed to speed up and make more convenient the generating of company management reporting. As a result of the revision, unification and integration testing of advanced functionality, the system performance has been enhanced.
    • A unique mechanism to manage the enhanced functionality of the system so that Hines could easily and flexibly customize software functionality according to the needs of a certain legal entity included in the holding.
    • Adjusted available external reports and data processors used for the document management automation. All enhanced functionality was developed by means of the configuration extension mechanisms that made it possible to significantly reduce the time for software update.
  • Created interfaces and sets of user permissions.
  • Initial software adjustment to start keeping accounting records.
  • Staff training.

The accounting system is also currently under support.

Using a new information system, the company could automate bookkeeping, financial and tax accounting, significantly reduce labor input for the preparation of accounting documents, as well as labor costs for update and support of the software application. The IFRS module makes it possible to generate postings under international standards in a timely manner. As a result of the integration of all financial services, the Company can control its financial performance.

We express our gratitude to 1C-Rarus for a mutually beneficial collaboration and qualified service provided that always aimed at finding the best solution. It is great pleasure to work with highly experienced specialists who can render professional services at a top level.

Implemented information system rating scale from 1 to 5:

Meeting company’s needs (where 5 means that all required features have been implemented in the information system)

Convenience of software use (where 5 means that it is easy and convenient)

Rate the work quality of the 1C Partner (where 5 means that the Company is absolutely satisfied with the 1C Partner’s work)

Would you recommend this solution to your colleagues for the automation of their business processes?

Barabanov Pavel Aleksandrovich, Software Implementation Manager

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