General Accounting Centers

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Structure of a Centralized Accounting Department

Front office Single Window for Recording Primary Documents for the Full Cycle, from Registration to Archival Storage

Middle office Processing Primary Documents by Accounting Areas According to the Organizational Structure of the Centralized Accounting Department

Back office Chief Accountants and Methodologists Tax Accounting, Control of Accounting Accuracy

How the Centralized Accounting Department Operates

01 Traditional Accounting Department The document workflow is unbalanced due to insufficient focus on the collection and recording of primary documents. There is a risk of delayed submission or loss of accounting records, which may result in inaccurate reporting and, consequently, tax risks and remarks from auditors.

02 FRONT OFFICE The front office is exclusively responsible for receiving and registering primary documents. A single registration window and the timely verification of primary documents for completeness and accuracy help minimize the risks of delayed processing and lost records.

In traditional accounting

The collection of primary documents is dispersed across various accounting functions. Accountants are engaged in different areas of recordkeeping, which prevents the establishment of a consistent standard for document processing. When new companies are added, additional accounting specialists must be employed.
This risk is eliminated in a Shared Service Center due to the high level of process standardization and unification.

More details

1. The front office operates based on an internally regulated album-based technology

2. The required details of primary documents are promptly verified and clarified for processing

3. Primary documents undergo a barcoding procedure with the recording of the date, time of receipt, and the full name of the responsible initiator

4. The target deadlines for receiving primary documents are monitored, thereby minimizing tax risks

5. The middle office is a professional transactional hub that processes documents for multiple companies across various accounting areas

6. The back office develops the group’s centralized methodology, oversees period-end closing, and reviews the prepared financial reports

ADVANTAGES OF THE SSC (SHARED SERVICE CENTER)

Risks of undocumented transactions are mitigated

The technology ensures the integration of collected primary documents with transactions recorded in the accounting system. Each primary document is assigned a unique EDUND code, enabling end-to-end tracking of the document

Tax risks are minimized

Tax risks related to tax audits, the blocking of tax invoices, and legal proceedings are mitigated through the timely provision of primary documents

Communication with the initiators of economic operations has been established

This ensures that, when needed, the required details for operational documents are promptly verified and clarified

Staffing requirements are standardized

Due to the high standardization and unification of the accounting process, the workload norms for document collection and processing per specialist can be calculated with precision

A system for archival document storage has been established

The technology supports both electronic and paper-based archives.