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Intes Computer > PRODUCTS > VVS > Accounting


The VVS accounting subsystem has two parts:
•    financial accounting with the general ledger (glavna knjiga)
•    analytical (personal) accounting

Accounting entries may be made automatically and manually. Premium, unearned premium, income and claims based on the premium, reinsurance and co-insurance shares, claim reserves, claim reserve corrections, subrogation, commissions, etc. are entered automatically.

Claim payout can be automatically decreased by the amount of the premium due. This difference is then booked on the credit side. Letters to clients may be automatically printed.

All personal accounts are kept according to the open-item tracking system. Automatic reminder subsystem, will be explained later, operates according to this principle as well.

Payment transaction import and export module is an integral part of the accounting subsystem. The VVS system supports both payment transaction systems used in Slovenia.  Accounting entries are made automatically, including data validation and closure of open items.

The VVS makes parallel accounting entries to personal and financial accounts. As a result, the user may at any time read the current financial data on invoiced premiums, commissions, claims, co-insurance and reinsurance, both at the insurance product level or at the personal level.

There is only one official currency defined in the system (domestic currency of the insurance company, e.g. SIT). However, it is possible to choose another foreign currency, at the level of a financial business object, (e.g. policy premium or insured sum, claim payout, all kinds of payments, etc.). In these cases, the VVS makes automatic conversion into the domestic currency, using the currency rate subsystem. Such bookings are made in the domestic and foreign currency simultaneously. The closure of such items (e.g. payment) may produce exchange rate differences, which are automatically handled and booked on a predefined account in the financial accounting subsystem.

The VVS accounting subsystem incorporates a set of standard reports, from simple ones such as account overviews, listings of open items by accounts, to the most complex ones such as balance sheets and profit & loss account.

Based on the financial accounting data, various analyses may be made, grouped by insurance products, insurance agencies, time periods, etc. For reporting purposes, the VVS system uses its own script language and Crystal Reports?.

The VVS accounting system supports the function of cash management by branch offices and outgoing bills bookkeeping.

Before any customer installation, the VVS accounting subsystem should be adjusted to the customer's specific demands. Customization is done by means of specially designed modules. It includes definition of the company's system of accounts (kontni plan), as well as all accounting record types and accounting item types.