Dear users of Interfuerza, we have an improvement that we are sure will be most useful. This feature is based on the existing need in Colombia, to keep an analogous accounting according to legal requirements and translating in real time the records of primary and national accounting to a related IFRS accounting, analogous and even in the terms of the Colombian regulations in this regard.
In this sense, managing the differences between the Generally Accepted Accounting Principles in Colombia and what constitutes the IFRS. Here we reconfigure, according to the legal requirements, our system, maintaining the simplicity of use that characterizes Interfuerza.
For example:
- COLGAP and NIF
- USGAAP and FRS
We understand that many of the countries that use Interfuerza have already defined IFRS as the only accounting system, and therefore do not require the use of any analogous accounting. However, Interfuerza allows users to manage in legal terms and in real time the use of IFRS and National Accounting.
How does it work?
We follow simple and easy to handle, as seen in the following illustration, the operation of accounting:
Where we can see that when the analogous accounting is enabled it allows to duplicate the accounting but translating the parallel account in real time.
How is it enabled?
The first step to enable the parallel account is to enable the parameter contained in the configuration table:
Parallel Accounting Configuration (IFRS) where you must place the option of the name of the accounting and if it is enabled, for example:
This enables different options in the platform which then allows you to enable the analog accounting table.
Parallel Account Setup:
The next thing to be configured is the parallel account in the chart of accounts. A special function is enabled in the creation and editing of an accounting account which can be seen below:
In this option you can select the account you want to translate the accounting at the moment of saving in the accounting.
It is important to note that if you do not place an account in the parallel account then the system will use the same account in the analogous accounting (IFRS).
Once you have set up the parallel accounts you can then proceed to record accounting transactions naturally.
Analogous accounting financial reports (IFRS)
This functionality would not be complete without being able to query the accounting reports to both accounts. This can be done under the same financial reports that are used in normal accounting. When accessing a financial report you will be able to define the accounting table you want to query the report from as follows:
Conclusion
It is important to note that if you have already made accounting records before enabling analog accounting (IFRS), they are not transformed. If you wish to transform the historical records, you can ask for help from our service center (Additional costs may apply).
In addition to the above We comply with STATUTORY LAW 1581 OF 2012 (October 17) Partially regulated by National Decree 1377 of 2013 and the respective existing rules on the treatment of data.
You can try them without any problem, remember that any questions do not hesitate to use our official channel "Help Chat" from your account.