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    Accounting module

    ProfITsoft.Accounting is a specialised accounting system for Ukrainian insurance companies, designed out of the box for insurance bookkeeping: technical reserves under the NBU methodology, accounting for premiums, claims and reinsurance, financial and regulatory reporting, tax accounting and IFRS 17 calculations. It integrates closely with KSASK yet runs fully autonomously.

    Why this is needed now

    Accounting solutions built on the 1C/BAS platforms are under sanctions and effectively banned in Ukraine. Insurers need more than «yet another ledger» — they need a system that understands insurance specifics from the start (reserves, premiums, reinsurance, NBU regulatory reporting) and is built on an open stack with no components of russian origin.

    What it is

    This is a specialised insurance accounting-and-regulatory core, not a universal «for any business» BAS clone. We take the strong idea of parameterised accounting from 1C (chart of accounts, analytics, posting templates and reports configured without code changes) but apply it to the narrow, controlled domain of insurance accounting — without a proprietary programming language and without dependence on the 1C developer market. The target profile is non-life insurers.

    Key capabilities

    • Accounting core. Chart of accounts with industry sub-accounts and analytics (up to 6 levels), source documents, postings and an operations journal, reporting periods with closing routines. Records are immutable: financial data is never deleted — only reversed with a full audit trail; Dr = Cr by design.
    • Reserves under NBU Methodology № 203. Technical reserves under Resolution № 203: premium reserve, reported-claims reserves (RBNS), incurred-but-not-reported reserves (IBNR) via actuarial methods (Chain-Ladder, Bornhuetter-Ferguson, Cape Cod), risk margin, separate reserves for outward reinsurance and run-off analysis.
    • Reinsurance. Accounting for outward reinsurance (facultative, proportional and non-proportional treaty), inward reinsurance and retrocession; bordereaux, settlements and reconciliation, reinsurers’ shares in reserves.
    • Financial investments. Deposits, government bonds and other securities: acquisition, interest accrual, revaluation against NBU data, amortised-cost accounting and redemption.
    • General accounting. Cash desk, accountable persons and expense reports, fixed and intangible assets with depreciation, inventory, deferred expenses, payroll accrual and payment.
    • Reporting. Trial balance, account cards and analysis, general ledger; management analytics and an executive dashboard; financial statements under national standards; NBU regulatory reporting in XML; a custom report builder with export to XLSX / PDF / DOCX.
    • Tax accounting. VAT and tax invoices reflecting insurance specifics, insurer profit tax (18% + 3%), tax differences, XML export for M.E.Doc / the tax authority portal.
    • IFRS 17. PAA calculations, cohort classification, onerousness test, disclosures. The full BBA model is delivered in stages by decision of the company pool.
    • Integrations. REST integration with KSASK (policies, payments and claims flow into accounting automatically) with a fully autonomous fallback mode; FX rates and fair value of bonds from the NBU; bank statements and payment orders from client-bank systems.
    • Migration from the current system. A dedicated temporary migration module: transfer of reference data and balances, a parallel period with daily automatic reconciliation, a discrepancy log and gradual switch-over of accounting areas. Estimated rollout with migration is 7–10 months per company.

    How it differs from 1C/BAS

    • Specialisation, not universality — insurance accounting out of the box, with no add-ons over a universal platform.
    • Open stack with no russian components — Kotlin, React, PostgreSQL; a release cycle controlled by our own team.
    • No vendor lock-in — configuration is done by a trained accountant; there is no proprietary embedded programming language.
    • Data stays with the company — on-premise deployment, a separate installation per company.
    • Transparent audit trail — deletion of financial data is forbidden, append-only audit, every calculation tied to a regulation.

    Technology

    A modern browser-based web application: Kotlin / Spring Boot, React, PostgreSQL — with no components of russian origin. On-premise (single-tenant) deployment in the company’s infrastructure. Adapting it to a company is done through configuration, without programming, by a trained accountant.

    A risk-free transition

    The switch does not happen in a single day. A dedicated temporary migration module transfers reference data and balances, runs a parallel period with daily automatic reconciliation of balances and turnovers, keeps a discrepancy log and switches accounting areas over gradually. Once migration is complete, the module is retired.

    Join the project: an alliance of insurers

    The goal is to build a modern solution that lets insurers joining the alliance obtain the functionality and fully replace their current 1C/BAS systems. The project is estimated at roughly 50,000 person-hours; it is planned around 10 participants (9 insurers and ProfITsoft); the estimated timeline is 9–12 months. Each participating company receives a perpetual licence for the accounting module. Development runs on the basis of the KSASK ProfITsoft Functionality Exchange Fund.

    Ready to discuss joining?

    Get in touch to receive the project document package, access to the interactive prototype and answers about your company’s participation in the alliance.