Accounting system

Tender description

To enable its treasury and finance departments to meet their obligations & enable them to manage financial risks NGN is seeking a system that will: — hold a database of NGN’s financial instruments including principal amounts, start & end dates, interest rates. — be capable of accurately recording all relevant attributes of the instruments by offering deal capture that incorporates a range of day count & settlement conventions, underlying interest rates, margins, amortisation profiles, — provide evidence of accounting hedge effectiveness, — provide fair values of derivative instruments, (with and without accrued interest & with and without CVA/DVA adjustment) — generate/evidence accounting entries in respect of fair value movements, — support the monitoring of counterparty credit exposures, — report actual & projected interest costs and cash flows to support accrual accounting & cash flow forecasting, — enable data & reports to be exported to Ms Excel to enable data analysis & manipulation. To enable its Treasury and wider Finance departments to meet their obligations and enable them to manage financial risks Northern Gas Networks is seeking a system, service or IT solution that will: — hold a database of NGN’s financial instruments including principal amounts, start and end dates, interest rates etc. — be capable of accurately recording all relevant attributes of the instruments by offering deal capture than incorporates a comprehensive range of day count and settlement conventions, underlying interest rates, margins, amortisation profiles, etc. — provide evidence of accounting hedge effectiveness, — provide fair values of derivative instruments (with and without accrued interest and with and without CVA/DVA adjustment), — generate / evidence accounting entries in respect of fair value movements (swap & debt debtors & creditors, P&L, hedging reserve), — support the monitoring of counterparty credit exposures, — report actual and projected interest costs and cash flows to support accrual accounting and cash flow forecasting, — enable data and reports to be exported to Microsoft Excel to enable data analysis and manipulation, and — offer the ability to perform what-if analysis on potential future transactions. Minimising implementation, hosting and support costs will be important considerations and the solution must be capable of supporting future changes in relevant accounting standards, published market interest rates and other relevant external factors. The ability to expand the solution to support other NGN Treasury activity in the futures (for example by providing interfaces with accounting and payment systems and generating cash flow forecasts) would also be desirable.