Bridging accounting systems for a seamless integration
Background
In 2023, EPHEC and Haute École Galilée entered into a partial merger, with several of Galilée’s departments transferred to EPHEC.
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While the two schools shared a common vision and mutual interests, their accounting and management systems were very different. EPHEC operated with established processes, an ERP system, financial controls, and a digitized approval system. In contrast, the three departments from Haute Ecole Galilée were still managed with many paper documents, decentralized processes and fewer procedures.
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Complicating matters further, the transfer occurred on September 13, the end of the academic year, rather than at the end of the calendar year or a typical fiscal closing.
Virginie Siriez, Finance consultant from Altesia, was thus appointed to prepare the transfer balance sheet, which would then need to be audited and serve as a legally binding document and form the basis for the notorial act. This work required that Virginie had to ready the accounts of Haute Ecole Galilee’ divisions for their incorporation into the larger one, as if it were the end of a fiscal year.
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The second dimension of the missions was to set up the accounting operations of the new EPHEC entity, which required a more powerful system to handle its increased size, including a new chart of accounts, updated processes, and reinforced controls.
“Virginie wasn’t just a consultant, she was really part of the team.
​She worked full-time with us for six months, was patient and pedagogical with our accountants, and helped us through a very intense period.
What stood out for me compared to other consulting firms was the pragmatic style of Altesia: sleeves rolled up, focused on results, and excellent value for money thanks to Virginie’s work on-site and the senior support in the background.”
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- Nicolas Putzeys, Director Finance & Infrastructure at EPHEC.
Approach
ALIGNING DISPARATE ACCOUNTING SYSTEMS AND DIVIDING SHARED RESOURCES REQUIRED METICULOUS CORRECTIONS, COMPLEX ALLOCATIONS, AND DATABASE RECONCILIATION TO ENSURE A SMOOTH INTEGRATION.
The initial plan was to rely on the analytical accounting of each department to prepare the transfer. However, during the process, Virginie identified differences in the way transactions were recorded, which required corrections and alignment.
Purchases, for instance, were recorded differently. The analytical accounting had to be corrected and aligned with the new structure. Given Haute Ecole Gallilée’s limited digitization, the expert often had to search through binders that predated her birth.
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Additionally, the Haute Ecole Gallilée had a central department that managed common expenses for its four educational units. The expert had to determine and allocate what would be transferred to EPHEC, including buildings, debts, student assets, and cash.
"We didn't expect it to be so complex," explains Virginie. "We thought it would be enough to simply divide everything by four. But some buildings, for example, served multiple units.. If we assigned a building to one unit, we had to compensate the others. We sometimes had to create complex Excel formulas because, in the end, everything had to balance, and the balance sheet had to zero out. It was all about finding the right balances."
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Finally, the Social Council, an entity that must be legally distinct from the schools and managing social subsidies and scholarships, had no analytical accounting. Subsidies were allocated extra-accounting to each educational unit based on the number of students assisted. "I started from this situation and had to reallocate and make the accounting coherent. It was primarily a reconciliation task between two databases", Virginie explains.
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In parallel, EPHEC’s growth required a stronger accounting backbone. Virginie implemented a new chart of accounts, set up renewed processes, and produced detailed documentation (procedures, guides, tutorials) to support both newly hired staff and the Galilée team transitioning from paper-based methods to digital workflows.
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Throughout the project, she was backed by Altesia’s partner, Cédric Van Themsche, who provided technical input and structured project follow-up. This model offered the client a pragmatic, cost-effective mix: the commitment of a consultant on-site, supported by senior expertise in the background, with concrete project tracking (including task follow-up through Altesia’ project management tool).
Results
Virginie Siriez successfully streamlined the accounting systems of the entities and was able to deliver a transfer balance sheet approved without any correction by the auditor.
Virginie worked full-time for six months, embedding herself in the team. She successfully streamlined the accounting systems of the entities and was able to deliver a transfer balance sheet approved without any correction by the auditor.
All legal obligations and deadlines were met.
EPHEC gained not only a validated transfer balance sheet but also a newly established accounting service, equipped with processes, documentation, and tools adapted to its expanded scope.
Virginie created files, procedures, and a user guide to facilitate the work of new arrivals, whether they came from the smaller structure or were newly hired.
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“Virginie wasn’t just a consultant, she was really part of the team”, explains Nicolas Putzeys, Director Finance & Infrastructure at EPHEC. “
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She worked full-time with us for six months, was patient and pedagogical with our accountants, and helped us through a very intense period. What stood out for me compared to other consulting firms was the pragmatic style of Altesia: sleeves rolled up, focused on results, and excellent value for money thanks to Virginie’s work on-site and the senior support in the background.”
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