The specifics and practical aspects of Russian accountancy are very well known to foreign companies who are operating in the Russian Federation. Documents like the act, nakladnaya and schet factura require hours of printing, manual stamping and signing, mailing and storing.
The order of the Ministry of Finance, FZ-402, issued in November 2011, caused a real 'revolution' in Russian accounting. One of its biggest changes was the introduction of the Electronic Document Interchange (EDI). Accounting documents can now be created, sent, confirmed and archived electronically. EDI significantly simplifies data flow between two companies and saves hours of work.
This puts an end to mountains of paperwork and facilitates document exchange transparency. Moreover, this system allows one to electronically exchange the «unified document», a newly introduced document that merges the act with the corresponding nakladnaya or schet factura.
Unified documents decrease the number of paper printouts and hence reduce time spent for accounting.