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Can anyone please tell me if this version of 1C can be used to perform 'parallel' accounting. That is to enter one source document and click on both statutory option and IFRS option, with the result of that one transaction recording going to two separate systems of acccounting rules. (probably would be two virtual databases of information) ???

Any information on the capabilities of this version would be extremely helpful. Especially from someone who has had practical hands on experience with parallel accounting.

thanks....

david

This product supports 3 types of accounting from the box: regular accounting, tax accounting and management accounting.
Regular and tax accounting have diferent chart of accounts, but management accounting does not. All this stuff kept on the single database.
Of cause you can extend the system and add as much accountings as you want but the volume of coding may be significant.

According to Russian 1C community at
http://www.forum.mista.ru/
Живой Ископаемый user says that 1C:Enterprise supports several separate systems of acccounting rules. You should use (or find in your own Manufacturing Enterprise Management configuration) AccountingRegister objects.
According to shuhard user Manufacturing Enterprise Management includes translation into GAAP. You should use the special document.
I've contacted 1centerprise.com forums user RayCon. He says his company has dozen years of experience in your mentioned field. You can find more by contacting him or from his offer at:
http://www.1centerprise.com/forums/viewtopic.php?f=18&t=7

david777 wrote:Can anyone please tell me if this version of 1C can be used to perform 'parallel' accounting. That is to enter one source document and click on both statutory option and IFRS option, with the result of that one transaction recording going to two separate systems of acccounting rules. (probably would be two virtual databases of information) ???

Yes, it can. To say even more, it was designed to function this way. But as it was mentioned already, from the box it supports Russian accounting and Russian fiscal accounting systems. Transactions use separate sets of rules and go to separate tables within one database.

It also implements so called management accounting. In contrast to the two above mentioned accounting systems, management accounting is not controlled by the government, so it does not have a chart of accounts and its functionality reflects pure vision of system architects.

Weather or not a document will be recorded in an accounting system is controlled by a checkbox in document's form.

Transition into GAAP is made by a separate document based on existing data.

Best regards,

Mike.

Thanks very much, all your comments have been a great help.