FreeBalance Accountability Suite
Public Expenditure Management
FreeBalance Public Expenditure Management manages all functions related to government spending. Due to the unique needs of government—including budget and commitment controls—this exceeds typical accounts payable functionality common in the private sector.
Expenditures & Purchasing
Supports expenditure controls for standard expenditures including payment management, multiple purchasing vehicles and the purchasing cycle.
Supports fiscal discipline on large-scale government acquisitions including tendering, e-procurement, contract and spend management.
Grant & Social Programs
Supports government grant, loan, and contribution management.
The Public Expenditures Management functions in the FreeBalance Accountability Suite include the following:
BUDGET & COMMITMENT CONTROLS
Ensures that all expenditures are approved and do not exceed budget or allotments set in the system.
Develops a range of purchasing vehicles such as local purchase orders, petty cash, open contracts, standing offers and special contracts.
Manages vendors including vendor authorization, certifications, and ratings.
Manages the general purchase cycle including purchase requisitions, purchase orders, goods receipt, and goods returned.
Manages government procurement including competitive tenders, tender evaluation, vendor disputes and contract management.
Supports government grant, loan and contributions to individuals, educational institutions, NGOs and businesses.
Supports government pensions, health care, employment insurance and welfare payment.
Manages transfer payments among governments.
Modules provide additional features that can be combined and configured to create solutions for government.
- Payment Management
- Public Expenditures + Purchasing
- Standard Reports
- Contract Management
- FreeBalance E-Procurement Site
- Electronic Government Procurement
- Spend Management
- Grants and Contribution Management
- Grantee Management
- Social Programs Management
Powered by FreeBalance Accountability Platform
The FreeBalance Accountability Platform is a web-based Java-powered platform designed for government financial management. Our applications support centralized environment, but are also flexible enough to accommodate decentralized & hybrid models.
Supports International Financial Standards
The FreeBalance Accountability Suite supports the highest international standards for fiscal management and accounting, including those from:
- United Nations
- International Monetary Fund
- World Bank
- International Financial Reporting Standards (IFRS)
- International Federation of Accountants (IFAC)
- Millennium Challenge Corporation (MCC)