Qiado supported this customer during the implementation project and currently, Qiado is responsible for the maintenance of the application. One of the big challenges was to integrate with the ERP system, with new General Ledger and new Asset accounting modules, since these modules require more than a standard implementation. Another big challenge in this project was the configuration of several accounting standards such as IFRS16, ASC840, and IAS17.
During the initial phase of this project, Qiado supported assessing the IFRS16 transition scenarios. This required a significant effort from Qiado technical accounting team. Then Qiado supports this customer in performing the configuration, Testing, and IFRS16 calculations. Moreover, recently Qiado also supported the integration of old Finance Lease, according to IAS17, into the application.