In the modern world many companies and holdings have many branches and partners in different countries and continents. All of them have differences in the accounting system, various financial systems, incompatible software, servers, different types of data, reporting periods. All this led to a complex accounting process. Accounting for financial liabilities and profits.
The accounting department now lacks technology and automation. Most accountants still use MS Excel. This method is prone to human error and it is impossible to close or reconcile accounting records quickly and accurately. When striving for efficiency, the process of inter-firm harmonization is a "subtle place" in the work of accounting. More than 70% of companies spend considerable time to correct inter-firm differences in accounts and acts of reconciliation.
Ordinary problems are: disagreements regarding the quantity of goods delivered on the fact, the price of the account does not coincide with the previously stated value: The recipient of the invoice is incorrect, the difference of account at volativity of currency (when paying in Cu)
Manual reconciliation of Accounting Statements-this is the likelihood of loss of reputation, asset value and price of shares, high fines and penny tax authorities, prolonged re-negotiation of invoices, acts, reconciliation.
Directors and CEO willing to spend funds on transparent, automated and secure accounting system, in this there is a need of improvements-they are tired of struggling with intricacies of accounting and the need to find only experienced highly-paid accountants.
In theory, all these problems can be solved if all work in a single program, if the accounting will be conducted only by agreed, fixed information. If all the data are valid, it will speed up and simplify the work of accounting.
Each company is legally obliged to provide accurate and transparent reporting – the exact data are required by the government, tax authorities, shareholders and potential investors.
Taking into account all the problems and needs of the accounting department to grow a single accounting program can take advantage and be the first company to automate the entire accounting sector.
The Intrachain platform team can help the entire accounting and financial sector to automate account, transaction and transaction accounting
The Intrachain platform combines the mining process and the decentralized chain to account for transactions and transactions between companies.
The prototype of the Intrachain platform works in a decentralized database system each user (accountant) has its own key (external cryptographic token) and only it has access to its operations accounts, transactions, smart contracts between Affiliates and transaction Partners. This provides the client with the reliability and invariability of 2-sided operations. To synchronize the conditions of paper contracts with the platform Blockchain developed a reliable tool-"smart contract". It allows you to transfer your agreements-invoicing, payment, quantity of goods, etc. on an automatic platform. After it is reconciled and synchronized, the smart contract cannot be changed in the one-sided order – because it is stored in a chain in parts.
For the official documentation of the smart contract, Intrachain uses synchronization with ERPK for example 1С – accounting program, i.e. company №1 receives notifications from the platform that the company №2 paid the bill for $50.000 12.05.18. 13:15 5000 units of the goods and this data will be automatically transferred to 1С, where there will be a write-off from the warehouse of goods, the invoice will be prepared and this data is automatically transferred to 1c, where there will be a write-off from the warehouse of goods, prepare the bill- Invoice and update the act of reconciliation. Mining cryptocurrency token intrachain occurs due to the redundant energy of the computer, which can be monetezed. All transactions, smart contracts, algorithmic operations pass through miner, thanks to this system there is no single database and there is no possibility of its breaking. This is similar to the algorithm of the popular service Torrent. For all transactions, the smart contracts of the accountant pay a small commission, which is accrued by the platform and Miners.
The Intrachain platform facilitates the work of the accounting sector and makes it transparent to managers. We are interested for such clients like large companies and holdings, where the day passes more than 100 financial transactions. When only 1 holding will start using of platform its 300 – 400 counterparties realizing all the pros of Intrachain will go to this platform. And all of them will pay the Commission for each of their transactions.
The Intrachain platform will provide accountants and executives with online financial information to make effective decisions.
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In Intrachain I saw a popular project, which is doomed for success. Automation of accounting operations has long been required in large companies. And at the moment Intrachain is ready to provide online financial information to the managers. Companies will spare no effort to make effective economic decisions.
Website: https://www.intrachain.io/
Whitepaper: https://www.intrachain.io/whitepaper/
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