FreeBalance Accountability Suite
Public Financials Management
FreeBalance Public Financials Management supports the unique budgetary requirements of the public sector. Features such as support for commitment accounting and budget management enable governments to manage tax dollars effectively.
Budget & Commitment Accounting
Supports core government financial functions for unitary governments, national governments, line ministries, sub-national and municipal governments and projects.
Assets & Inventory
Supports asset management principles tailored specifically to government needs such as fixed assets, stores, fleet and facilities.
Supports project management link budgeting and project accounting to project estimates and forecasts.
The Public Financials Management functions in the FreeBalance Accountability Suite include the following:
Budgetary funds are mapped to the Chart of Accounts (COA) at a pre-determined hierarchy level for aggregate fiscal control.
REFORM AND MODERNIZATION
Modernizes the financial management structure such as migrating to accrual accounting.
FIXED ASSETS AND INVENTORY
Manages asset accounting, depreciation and evaluation. Supports government stores, transfers, inventory counts and consumption.
MULTI-LEVEL ALLOTMENT CONTROLS
Supports approved appropriations, warrants or allocations, mapped to summary or detailed levels within the COA and to fiscal periods.
Balances ledgers in real-time with budgets to ensure that budgets are not overspent.
JOURNAL, VOUCHERS & LEDGERS
Supports traditional accounting cycle used in public and private sectors.
COMMITMENT & OBLIGATION CONTROL
Supports a soft commitment to spend or hard commitment/contractual obligation.
Modules provide additional features that can be combined and configured to create solutions for government.
- Budget Controls
- Cash Books
- Controls for ERP
- Line Ministry System
- Municipal System
- Core Public Financials
- Project System
- Regional System
- Sub Ledgers
- Standard Reports
- Government Fixed Assets
- Government Fleet Management
- Government Facilities + Property
- Government Stores + Inventory
- Job Costing
- Public Works Projects
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)