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Products

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.

 

 

 

Features

 

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.

Projects &
Job Costing

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 CONTROL

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.

REAL-TIME LEDGERS

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

 

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)