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Products

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.

 

 

 

Features

 

Expenditures & Purchasing

Supports expenditure controls for standard expenditures including payment management, multiple purchasing vehicles and the purchasing cycle.

Procurement

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.

PURCHASING METHODS

Develops a range of purchasing vehicles such as local purchase orders, petty cash, open contracts, standing offers and special contracts.

VENDOR MANAGEMENT

Manages vendors including vendor authorization, certifications, and ratings.

PURCHASE CYCLE

Manages the general purchase cycle including purchase requisitions, purchase orders, goods receipt, and goods returned.

PROCUREMENT

Manages government procurement including competitive tenders, tender evaluation, vendor disputes and contract management.

GRANT MANAGEMENT

Supports government grant, loan and contributions to individuals, educational institutions, NGOs and businesses.

SOCIAL BENEFITS

Supports government pensions, health care, employment insurance and welfare payment.

INTERGOVERNMENTAL TRANSFERS

Manages transfer payments among governments.

 

 

Modules

 

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)