BSR Solution
Organise assets digitally and at company securities accounts replace manual postings with data imports
The challenge
Securities accounts (shares, bonds, funds etc.) kept in company structures (GmbH, AG, GmbH & Co. KG etc.), in foundations or in specific taxable business assets can pose all manner of accounting challenges.
And challenges arise especially when for legal reasons a posting has to be made to a company securities account in accordance with German Commercial Code and/or tax law. Bank reports from tax advisors are of no use as these are exclusively aimed at private investors. Instead, postings and document entries have to be done manually. This is often a complex and expensive process that is prone to errors.
The solution
Working with adorsys, fintegra offers a BSR solution that replaces the manual process of posting with a data import. BSR forms part of a product set of bank-driven imports for tax advisors. Master data and transaction data that is required for posting are imported from core banking software into the fintegra database. The data is then refined using additional data from rating systems, price information systems etc. using fintegra’s algorithm.
The manual process of posting is replaced with two DATEV export files, commercial law, tax law and a financial statement in Excel format. Using BSR drives efficiencies in company securities accounting, makes it cost-effective and increases quality at the same time.
The benefits
- Automates process of securities accounting
- Saves time
- Data is refined, product quality increases
- Reduces cost of securities accounting in half
