=Paper=
{{Paper
|id=Vol-1614/paper_109
|storemode=property
|title=A Company-Specific Business Process 'Accounting of Cash on the Bank Accounts'
in the Global Electronic Payment System
|pdfUrl=https://ceur-ws.org/Vol-1614/paper_109.pdf
|volume=Vol-1614
|authors=Viktoria Yatsenko
|dblpUrl=https://dblp.org/rec/conf/icteri/Yatsenko16
}}
==A Company-Specific Business Process 'Accounting of Cash on the Bank Accounts'
in the Global Electronic Payment System==
https://ceur-ws.org/Vol-1614/paper_109.pdf
A Company-Specific Business Process “Accounting of
Cash on the Bank Accounts” in the Global Electronic
Payment System
Viktoria Yatsenko1
1
Kherson National Technical University, 24, Beruslavske st., Kherson, 73008 Ukraine
viktorijajacenko@gmail.com
Abstract. In the document, simulation of the company-specific business proc-
ess (BP) “Accounting of cash on the Bank accounts” in the global electronic
payment system is presented based on the process approach built upon the evo-
lutionary reengineering principles and applying the high-tech software. BP
“Accounting of cash on the Bank accounts” (Activity Model As-Is) at the mod-
ern Ukrainian companies is analyzed. Simulation of BP “Accounting of cash on
the Bank accounts” in the global electronic payment system (Activity Model
To-Be) is shown.
Keywords. Business process, accounting, accounting system, information sys-
tem (IS), e-bank.
Key Terms. Primary document, Workflow, Accounting registers, Operational
documents, Universal staging mechanism, Documentary authority, Financial
peg, Typical business operation (TBO)
1 Introduction
A current trend in the accounting information systems is transition from the functional
(hierarchical) approach to the process one, the fundamental principle of which is rep-
resentation of a company accounting system as a system of the interacting BPs. Tran-
sition to the process approach is accompanied by reorganization of the BPs and de-
pends on a clear understanding of essence of the “business process” concept and its
role in accounting. For the functional and modular approach to the construction and
operation of an company information system (IS), some localization of the accounting
BPs (or their individual modules for the end-to-end processes) within certain areas of
accounting is typical, consequently, the structure of the accounting BPs overlaps the
functional accounting system of a company, so the basic principle to define the ac-
counting BPs will be the principle of the functional hierarchical ordering.
Under an accounting business process (BP) we understand a guided workflow (ac-
tions), resulting in the information (accounting and reporting data) of certain value to
ICTERI 2016, Kyiv, Ukraine, June 21-24, 2016
Copyright © 2016 by the paper authors
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the users. The construction of an accounting BP network is based on the hierarchical
functional structure of a company’s accounting system (accounting of cash, expenses,
settlements with the staff, etc.).
Evolution of relations between a company and a bank shows a strong tendency of
adaptation to the realities of functioning in the constantly changing environment.
Electronic banking as a stage of relations “client-bank” amidst E-economy is primar-
ily treated as modernization of the communication channels and means, and secondly,
as a response to the increased customers’ requirements to the banking services quality
and range. As Hammer rightly notes, such categories as innovation and speed, service
and quality are the key concepts of the new decade[1].
The goal of the paper is analysis of the current state of cash accounting on the
Bank accounts for a typical Ukrainian company (Activity Model As-Is) and formulate
recommendations regarding the strategy for implementation of a process approach
and evolutionary economics to the information system by the example of simulation
of the company-specific BP “Accounting of cash on the Bank accounts” (Activity
Model To-Be) in terms of the global electronic payment system.
In order to achieve this goal, it is necessary to perform the following tasks:
build a BP model "Funds transactions accounting" on the basis of evolutionary
postulates of economy that defines the place of BP in the architecture of the ac-
counting system of the enterprise and provides a conceptual understanding of the
essence of the process and its surrounding at the top level of the hierarchy, while
empirical implementation represents the bottom hierarchy level;
step by step presentation of business analytics as a general description of the busi-
ness process, its modules, regulations, providing results in tabular form, identifying
and fixing all possible versions of the regulations fulfillment on the basis of the
fundamental accounting principles in the form of algorithms;
achieving balance of evolutionary changes and revolutionary quality transforma-
tions of the BP "Funds transactions accounting" in order to adapt it to the current
and the potential challenges of the environment to preserve the viability of the en-
terprise accounting system in the long run.
Paper has following structure: section 2 is devoted to related works, section 3 dem-
onstrates а description of BP “Accounting of cash on the Bank accounts” (Activity
Model As-Is), while section 4 considers the description of BP “Accounting of cash on
the Bank accounts” in the global electronic payment system (Activity Model To-Be),
section 5 concludes.
The following terms within BP “Accounting of cash on the Bank accounts” shall
be applied in the above sense:
Workflow – a flow route (scheme) of the documents accounting funds between the
services of the company and the bank.
Operational documents – the primary documents supporting and confirming the
actual operations on the funds flow on the Bank accounts. BP “Accounting of cash on
the Bank accounts” is accompanied by the following documents: a Payment order and
Bank account statement. Each primary document, in light of the evolutionary theory
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of paradigm [3], can be considered as a living organism having its own life cycle,
which in turn comprises the steps of passing certain services or business units of a
company. The main steps (stages) of a primary document’s life cycle include: prepa-
ration → accounting treatment → archive.
Universal staging mechanism - a mechanism designed to formalize and control the
BP stages.
For every stage of the BP “Accounting of cash on the Bank accounts” the follow-
ing parameters are prescribed:
the stage owner: can work with a staging object at the respective stage (BUH_DS –
accountant of cash operations of Bank accounts, FO – finance department,
GL_BUH – head of accounting department);
access to the actions related to introducing changes to the document (adding, delet-
ing, copying) or amending some of its details;
access to the settlement mode at the stage;
setting of the automatic checks defining the document flow route.
Documentary authority – an organizational or financial administrative document
governing the actual operations with the funds on the Bank accounts (an agreement,
supplier’s invoice, sales invoice to ship the goods, etc.).
Financial peg – an operation linking a documentary authority and an operational
document (for example, invoice → Payment order) or two documentary authorities
determining the amount of executing of one document by another (for instance, an
agreement → invoice).
Accounting registers (Journals and Books) - for the chronological, systematic ac-
cumulation, grouping and summarizing of information about the business transactions
recorded in the relevant primary documents (for instance, Book of payment orders,
Bank statements register, Business operations journal).
Typical business operation (TBO) – a uniform instrument of the accounting entries
for all subsystems of the accounting system.
2 Related Works
The definition of “Accounting” has been attracting the leading scientists around the
world for a long time. Accounting is being considered as a management function,
system, process, craft, profession, and in light of the current economic institutional
theory – as a social and economic institution. However, professor V. Zhuk says “Even
if we speak of accounting in terms of its primitive, technical component, it is probably
hard to find a more complex system of actions providing a set of operations from as-
sessment of the economic life elements to the end-to-end documentary evidence of
the business operations with formation of the corresponding accountable figures” [2].
In addition, the evolutionary transformation in plane of the economic and social
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organization related to the globalization processes, scale electronic communication
development, rapid development of the computer equipment and communication
technologies, increasing number of the E-business types, determine the vector of the
accounting deep transformation and accounting data formation in accordance with the
post industrial society needs. Professors Y. Kuzminskyi and S. Svirko emphasize the
urgency of updating the methods and approaches to the research studies and practical
advice in the field of accounting [3].
The idea of the transfer of the cyber process approach to organizations manage-
ment appeared in the late eightieth of the 20th century. Hammer and Champy under-
stands the business process as "a set of actions, which create the valuable outcome for
the client on the basis of one or more types of source data"[4]. Harrington interprets
this term as "logical, coherent, interconnected set of activities that consumes the re-
sources of the supplier, creates the value and gives the result to the consumer"[5].
The definition of BP is closely associated with reengineering, developed by Hammer
and Champy, who interprets it as a rejection of the established procedures, a fresh
look at the work of creating a product or service and understanding the customer’s
value" [6].
The process approach as a basic foundation of modern management approaches
should be represented in the balance circuit of the management system, but scientists
in the areas of accounting haven’t awarded it with the unambiguous assessment and
practice implementation. Most scientists believe that "technical" process approach
leads to inhibition of accounting modeling. Shyhun considers the process approach to
be too narrow for accounting model creation, which is based on classifications of ac-
counting objects, and economic activity is subject to modeling (processes, operations)
[7].
However, Osmiatchenko proposed a methodological approach to the design of in-
formation systems of accounting, which, unlike the traditional approach based on
functionally closed organizational schemes, stipulates the rejection of the autonomous
logic in favor of strengthening the adaptation mechanism, focus on advanced struc-
tural engineering methods and business process reengineering [8].
Evolutionary economics has not acquired a significant spread in the academic
community of Ukraine, but there are attempts in accounting to combine accounting
procedures with the facility lifecycle [9-12].
Let us analyze the current state of cash accounting on the Bank accounts for a typical
Ukrainian company (Activity Model As-Is) and formulate recommendations regard-
ing the strategy for implementation of a process approach to the information system
by the example of simulation of the company-specific BP “Accounting of cash on the
Bank accounts” (Activity Model To-Be) in terms of the global electronic payment
system.
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3 A Description of BP “Accounting of Cash on the Bank
Accounts” (Activity Model As-Is)
Cash at Ukrainian companies is usually accounted in IS of the company and an indi-
vidual E-bank module without an established relationship or not using the electronic
payment system at all.
3.1 Specifying Problems (“Bottleneck”)
The problems of operation of the existing model of BP “Accounting of cash on the
Bank accounts”:
double entry of the data contained in the primary documents, duplication of infor-
mation, high risk of errors due to possible amendments in different systems;
absence of operational information on balance and cash flow on the Bank accounts,
a possibility of payments to contractors in real time, as well as planning and cash
flow management at the company;
slow response of the staff with regard to the innovations;
limited resources for the purchase and operation of the appropriate IT platform
supporting the workflow management, for instance, ERP- or CRM-systems.
3.2 Objectives and Metrics of Simulation and Automation of BP “Accounting
of Cash on the Bank Accounts” (Activity Model To-Be)
The main objectives of BP “Accounting of cash on the Bank accounts” are:
organization of operational accounting of funds on the Bank accounts in real-time
in the “now for now” mode;
a possibility to obtain timely information on the balance and cash flow on the Bank
accounts.
Among the key metrics of BP “Accounting of cash on the Bank accounts” the fol-
lowing can be mentioned:
no duplicated input of the primary (accounting and operational) data into the sys-
tem;
optimization of time to input and treat the primary documents;
availability of actual data on the balance on the Bank accounts in the “now for
now” mode;
a possibility of planning and analysis of the cash flow on the Bank accounts.
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4 Description of BP “Accounting of Cash on the Bank
Accounts” in the Global Electronic Payment System (Activity
Model To-Be)
4.1 General Description of BP “Accounting of Cash
on the Bank Accounts” in Accounting System of a Company
BP “Accounting of cash on the Bank accounts” in the coordinates of a company’s
accounting system and from the position of evolutionary economics is a “branch” of
the accounting area “Accounting of transactions in cash” along with BP “Cash ac-
counting”, “Loans accounting”, “Deposit accounting” and others. To ensure operation
of the electronic payment system it is necessary to add BP “Electronic payment sys-
tem. Relationship with the E-bank system”, consisting of several modules, to IS of the
company (fig. 1).
Roots BP “Accounting of transactions in cash”
BP “Accounting of BP “Electronic payment Other BPs
cash on the bank system. Relationship with the
accounts” E-bank system”
Module Module Module The “Import the
Branch
The “Export of The “Import of exchange rates”
payment bank account
orders to the e- statements
bank system”. from the e- Module
Module
bank system” The “Import of
The “Import the
exchange rates
exchange rates form the e-bank
from the site” system”
Leaves
Activity Activity Activity Activity Activity
regulations regulations regulations regulations regulations
Presentation in the accounting by forming of the accounting entries, arrangement
and generalization in the Accounting registers.
Fig. 1. Simulation of BP “Accounting of transactions in cash” in a company’s accounting sys-
tem on the evolutionary economics basis
The order for execution of a certain actions sequence defines the procedure for
each BP or module. Description of the account parameters and procedure of actions
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for BP define the mechanisms of formation and treatment of correspondence of the
accounts in the accounting system, the control algorithms, the procedures for compila-
tion of figures for the cumulative statements.
4.2 General Description of BP “Accounting of Cash
on the Bank Accounts” in Accounting System of a Company
4.2.1. Procedure and Model of the “Export of Payment Orders
to the E-Bank System” Module
According to the procedure of the “Export of Payment orders to the E-bank system”
module, the accountant responsible for this area of accounting shall perform the fol-
lowing actions:
1. Prepare the Payment orders.
The Payment orders are prepared manually or generated automatically according to
the documentary authority. Registration in the Book of payment orders is automatic in
the context of each current account with the bank.
2. Export the Payment orders to an external file.
The duly executed Payment orders are exported to an external fixed-format file.
3. Import of the file to the E-bank system.
The existing file is sent to the E-bank system.
4. Transfer the signed Payment orders to the bank via the E-bank system.
The Payment orders are signed electronically by the responsible persons and sent
to the bank via the E-bank system.
So, the Payment orders entered are transferred from the IS enterprise to the E-bank
system (fig. 2), these operations shall not be displayed in the financial accounting, in
other words, no correspondence of the accounts is formed.
4.2.2. Procedure and Model of the “Import of Payment Orders
from the E-Bank System” Module
Every day the accountant responsible for this area of accounting shall perform the
below specified actions in accordance with the procedure of the “Import of Bank ac-
count statements from the E-bank system” module:
1. Unload the Bank account statements out of the E-bank system.
Using the export procedure, the user unloads a file of the Bank account statements
in the given format from the E-bank system through the exchange buffer for the pre-
vious day.
2. Download the Bank account statements to the company’s IS.
Import to IS of the company of the file received using the exchange procedure to
the interim Bank statements register.
3. Amendment of data (if compliance is not determined automatically).
4. Set the data arrangement mode.
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Input
Documentary
Documentary No Yes
the Payment order іs
authority
registration in IS
prepared manually
the Payment
Automatic formation the Payment or-
order is formed
the Payment order der manually
Automatic registration the
Export of payment the Book of Payment order
orders Payment orders
Exchange IS of the company
Data set of exchange
Import
the Book of Payment or- E-Bank
Output
Fig. 2. Model of the “Export of Payment orders to the E-bank system” module
The Bank account statements imported from the E-bank system to IS of the com-
pany are processed determining pegging to the relevant Payment orders and/ or
Documentary authorities (fig. 3), these data shall not be displayed in the financial
accounting, so that no correspondence of the accounts is formed.
Consequently, the operation of BP “Electronic payment system. Relationship with
the E-bank system” offers the following advantages:
1. When you download a file to IS of the company from the E-bank system using
the exchange procedure, the following actions are performed automatically:
identification of the organization for its details from the Bank account statements
(search in the “Register of organizations” under the Bank codes, account or other
details, when the codes match - the organization is identified, the previous state-
ment is filled in from the Register);
search for the Payment orders matching the Bank account statement in the IS Jour-
nal of the company. When the match is found - the previous Bank account state-
ment is marked;
determination of a typical business operation code for the debit and credit Bank
statement (required for possible manual line arrangement in the Bank account
statement).
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Input
the Book of Export
Payment orders E-Bank
Data set of exchange
Automatic search of
the Bank account
Import
statements matching
the Payment orders
Automatic identifica-
tion of the counterparty Registry of the previous
Bank statements
Bank statements The treatment of the pre-
vious Bank account
registry statements
Register of Correction IS of the company
counterparty
Output
Fig. 3 Model of the “Import of Bank statements from the E-bank system” module
2. The results of treatment of the previous Bank account statements are:
automatic determination of a typical business operation code for further formation
of correspondence of the accounts during arrangement;
automatic specification of number and date of the documentary authority matching
the Bank account statement.
3. The data arrangement mode automatically performs the following actions:
the Bank account statements from the previous database are transferred to the Bank
statements register;
the “Paid” note is made and date of entry in the Payment orders matching the Bank
account statement is specified;
the financial peg of the Bank account statement to the relevant documentary au-
thority is determined, if the number of the documentary authority is specified dur-
ing the treatment of the previous Bank account statements.
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4.2.3. Procedure and Model of the “Impor of Payment Orders
from the E-Bank System” Module
The exchange rate published on the website at 14-00 p.m. becomes effective on the
following day. The module is configured to daily automatically import the exchange
rates if the following requirements are met:
the user is connected to the internet;
the time for the daily request for the actual exchange rates is set.
Initialization of the
Site: task developer to Input
bank-ua,com import the exchange
rates
Export Import Register of Output
exchange rates
Data set of
exchange IS of the company
Internet
Fig. 4. Model “Import of exchange rates form the site http://bank-ua.com.” module
If necessary, all parameters can be changed, and the automatic mode can be com-
pletely cancelled.
4.2.4. Procedure and Model of the “Import of Exchange Rates
from the E-bank System” Module
This module procedure (fig. 5) includes the daily performance by the employee re-
sponsible for updating the currency exchange rates of the following actions:
export of the exchange rates set by the bank on the current date, to an external
fixed-format file from the E-bank system;
import the file obtained through the exchange procedure to the “Register of ex-
change rates” of the company’s IS.
Initialization of the task
Register of developer to import the Input
exchange rates exchange rates
Data set of Import Output
Export exchange
Register of
exchange rates
Internet IS of the company
Fig. 5. Model of the “Import of exchange rates form the E-bank system” module
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4.3 General Description of BP “Accounting of Cash
on the Bank Accounts” in Accounting System of a Company
4.3.1. Procedure and Model of the “Import of Exchange Rates from the E-
Bank System” Module
For each current account with the bank, there is a separate sub-account is set up in
the work Chart of accounts. For the multicurrency current accounts, one sub-account
is set up relating to each current account.
The recommended sub-account format:
311– current account in the national currency (general Chart of accounts)
311ХХ –bank (ordinal number)
311ХХYYY – currency (for instance, code UAH (980)
311ХХYYYZZ – current account in the Bank (ordinal number)
312– current account in the currency (general Chart of accounts)
312ХХ – Bank (ordinal number)
312ХХYYY – currency (for instance, code USD (840)
312ХХYYYZZ – current account in the Bank (ordinal number)
For instance:
3110198022, 26000000000022 “ Open Joint-Stock Company the name of the
bank” (UAH );
3120284023, 26000000000023 “ Open Joint-Stock Company the name of the
bank” (USD);
3120397824, 26000000000024 “ Open Joint-Stock Company the name of the
bank” (EUR).
4.3.2. Procedure and Model of the “Import of Exchange Rates
from the E-Bank System” Module
The owner of BP is an accountant of operations on the Bank accounts that performs
the sequence of actions under the Procedure (Table 1).
Table 1. Procedure of BP “Accounting of cash on the Bank accounts”
Action Essence
The approved documentary authorities are received by the ac-
1. Preparation of a Pay- countant department to prepare the Payment orders. The ac-
ment order. Checking counting department checks the documentary authorities and
details. makes the Payment orders in accordance with the payment pe-
riod.
Export to the E-bank system according to BP “Electronic pay-
2. Making file for export
ment system. Relationship with the E-bank system”, module
to the E-bank system
“Export of Payment orders to the E-bank system”.
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Action Essence
Variant І: if payments are made via the E-bank system, the Pay-
ment order shall be approved by the person responsible (elec-
tronic signature, visa, etc.).
3. Approval of the Pay-
Variant ІІ: if payments are not made via the E-bank system, the
ment orders
Payment order shall be printed out, the printed document shall
be signed and delivered to the bank, and after the payments are
effected one shall receive a printed Bank account statement.
The Bank account statement for the previous day is exported
from the e-Bank system to an external fixed-format file. This
4. Loading of a Bank file through the exchange procedure is exported to the com-
account statement from pany’s IS into the interim Bank statements registry in accor-
the e-Bank system dance with the procedure of BP “Electronic payment system.
Relation with the E-bank system”, module “Import of Bank
statements from the E-bank system”.
5. Treatment of the in- The Bank account statement is checked line by line (counter-
terim Bank statements party, documentary authority, business operation code, etc.)
register
Financial peg to the following documents is determined:
- the expense part of the Bank account statement (if a Payment
6. Financial treatment of order in the company’s IS, financial peg to the documentary
a Bank account statement authority is determined automatically);
- the revenue part of the Bank account statement to the docu-
mentary authority manually.
Automatic arrangement mode (to form the accounting entry). In
the electronic document “Payment order” the “Paid” note is
made to automatically form the relevant correspondence of the
accounts based on the business operation code determined by
the peg. A corresponding account to the “Account with the
bank” is determined by the documentary authority.
7. Accounting treatment
The mode provides a variant of a group formation of corre-
of a Bank account state-
spondence of the accounts based on the documents chosen. Af-
ment
ter treatment of the Bank account statement and formation of
correspondence of the accounts for a certain date, the balance-
based account may be closed for amendment before the date
specified, that is, any entering/amendment/deleting of corre-
spondence to the account before the specified date inclusive is
not permitted.
The algorithm of executing the sequence of actions of BP “Accounting of cash on
the Bank accounts” is graphically shown in Fig. 6.
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Input
Incoming: the documentary authorities
for with the counterparties.
Export to the E- the Payment
preparing the Payment orders orders
bank system
a Bank
Import form the E-
account
bank system statement
Manual entry of a
Bank account Treatment of the Bank account statements
the Book of
(determination of the financial peg to the
statement (no the Payment
documentary authority).
E-bank system) orders
Yes Is there any financial No
peg to the Documentary
authority?
Automated formation of correspon- Manual entry of a business
dence of the accounts of a business operation’s correspondence
operation (peg to the Documentary of the accounts.
authority).
the Registers of corre-
spondence
Outcoming
Printed docu-
Payment order
ments
Payment order, a Bank
Documents, account statement, Bank
Accounting Statements Register, Book
registers of Payment Orders, the
Registers of correspondence
Statement Analysis of cashflow on
current account
Output
Fig. 6. Model of the BP “Accounting of cash on the Bank accounts”
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4.3.3. Procedure and Model of the “Import of Exchange Rates
from the E-Bank System” Module
The company’s IS makes a provision for keeping the workflow rules according to the
approved procedures. A primary document serves as:
a basis for taking actions;
a legal confirmation of the transaction;
a basis for representation in the accounting (entry);
an accounting information storage medium.
The primary document details storage is divided into the mandatory details (estab-
lished by the external standards) and optional (introduced by the company at its own
discretion). The proposed module of BP “Accounting of cash on the Bank accounts”
enters the required details into the mechanism of a primary document preparation, but
does not exclude the possibility to revise and add them at the configuration stage (ta-
ble 2).
Table 2. Documents of BP. Document details
Detail Explication
the Payment order
Automatic formation the numeration. There is a possibility of
Number
manually correction.
Date Date of Payment order
Bank date Date of Bank statement
Organization
Agreement
Accounts 31*
Bank According to the account
Current account According to the account
Sum
Including VAT There is a possibility of manually correction.
Receiver
Bank of receiver
The current account of the receiver
Payment purpose
Comment
the Bank account statements
Number Ordinal, automatic formation.
Bank date Date of Bank statement
Organization
Agreement
The type of business operation To determine a corresponding account
Accounts 31*
Bank According to the account
Current account According to the account
Currency
Sum in the currency
Sum in the national currency
Payment purpose
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A primary document details determine the assignment operation – specification of
numbers of the accounts that are debited and credited, the directions of search and
systematization in the section specified.
Normalization (data tabulation) lets to have the Journals (Registers) as the rela-
tional tables with the determined associative links between the elements, the lines
(tuples) of which comply with the documents entered, and the details of the docu-
ments are put into columns (domains).
Each tuple in the table is usually unique due to a single domain.
For example, in the Book of Payment orders (table 3), the “Document number”
domain defines the tuple uniqueness. In the operation, if necessary, you can add do-
mains, thus expanding the data analyticity.
Table 3. The Book of Payment orders
Domain 1
Domain 2
Domain n
…
Document number
Type of the trans-
Account of the or-
Type of the docu-
Document status
Document date
Account of the
Counterparty
counterparty
ganization
Currency
Was paid
action
ment
Sum
01.03.2016
Conducted
0000001
5 000,00
the Current account
Ltd «А»
Tuple 1
Supplier Current account of
UAH
Paid
Payment of the organiza-
payments the counterparty
order tion
01.03.2016
Conducted
10 000,00
0000002
the Current account
Ltd «В»
The buyer Current account of
UAH
Tuple 2
Paid
Payment of the organiza-
paid the counterparty
order tion
Each tuple of the Bank statements registry (table 4) makes the “Bank account”
domain unique, since a Bank account statement is made based on all transactions in
one day on one current account.
The financial treatment of a Bank account statement forms the accounting entries
in accordance with the settings of a typical business operation by the procedure of the
corresponding accounts determination based on the Documentary authorities. The
result is entered into the Business operations journal, which actually combines the
information in the Bank account statement cross-cast and the related correspondence
of the accounts (fig. 5).
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Table 4. The Bank statements registry
Domain 1
Domain 2
Domain n
…
Bank ac- the Beginning Balance at Account of the
01.03.2016 01.03.2016 Date
Currency Inpayment Payout
count Balance END counterparty
Current Current ac-
Tuple 1
account of the UAH. 30 000 5 000 35 000 count of the
organization counterparty
Current Current ac-
Tuple 2
account of the USD 45 000 10 000 35 000 count of the
organization counterparty
Table 5. The Business operations journal
The docu- Document Type of the
Date Counterparty Sum Currency …
ment status number document
Payment 5
Conducted 01.03.2016 0000001 Ltd «А» UAH
order 000,00
Payment 10
Conducted 01.03.2016 0000002 Ltd «В» UAH
order 000,00
…
Debit Credit Sum Substance of Business Operation …
«Settlements
«Bank
with suppli- 5 000,00 The debt to suppliers has been put out
account»
ers »
«Settle-
«Bank ac- The buyer paid has been received the current
ments with 10 000,00
count» account
buyers»
5 Conclusions
Recently, one of the most popular areas of the scientific research is the process ap-
proach to the organization and operation of the domestic enterprises, and the ad-
vanced foreign and domestic experience of its practical implementation instead of the
common functional approach is analyzed. At the same time, we should not forget that
apart from the functional approach, the systemic one, which considers a set of the
interrelated elements aimed at achieving objectives in the rapidly changing environ-
ment, and the situational approach, the essence of which is that the suitability and
effectiveness of the system is determined by the situation, as well as the economic
theory concepts, which have been forming and developing according to the market
conditions, are of a significant influence on the contemporary process approach. Thus,
transition to the process approach does not mean a complete give up on other ap-
proaches because the process approach is compatible with a variety of approaches,
- 607 -
concepts and theories, so, the question is the change of an imperative, however, the
transition shall be based on the reengineering principles and the high-tech software
application.
The author worked out the BP model "Funds accounting in the account of the
Bank" in the company in the global electronic payment system that summarizes the
IC typology involving users with the appropriate level of expertise and competence in
IC. The implementation of the BP model reveals the mechanism of documentation
and reflection of economic operations according to the principle of double-entry using
step by step developed algorithms and providing the results in tabular form. It is pro-
posed to take the results of this research as a basis for simulation of an accounting
BPs network for construction of a company’s accounting system.
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