(GTM) Government Treasury Management Modules

(GTM) Government Treasury Management Modules

Enables governments to manage cash, debt and investments

Module Overview

(GTM) Government Treasury Management modules harmonize treasury operations, mitigate risk and ensure effective forecasting. They can be implemented as standalone tools, or as part of the wider FreeBalance Accountability Suite.

(GTBR) Bank Reconciliation

Embrace a thorough approach to financial management that mirrors your global presence.

The FreeBalance (GTBR) Bank Reconciliation module simplifies the intricate task of matching bank statements with transactions in the General Ledger Bank Account. Experience real-time synchronization, reducing errors, and ensuring an up-to-date financial record.

This module effortlessly handles multi-currency complexities, offering a seamless reconciliation process that transcends geographical boundaries.

It also allows for both automatic and manual reconciliation, and supports migration to a Treasury Single Account (TSA).

(GTBT) Bank Account Transfers

Effortlessly execute monetary transfers to ensure effective, transparent and timely management of government finances.

The (GTBT) Bank Account Transfers module from FreeBalance allows users to easily administer individual or grouped bank account transfers, ensuring a seamless flow of funds.

This module supports transfers between the main government account to secondary accounts, and between secondary accounts within the same main account. This allows resources to be quickly and easily targeted to where they are most strategically needed.

(GTCM) Cash Management

Reduce debt and increase government investment income with FreeBalance’s digital (GTCM) Cash Management solution.

This module empowers governments to effectively forecast cash flow based on revenue, commitments, obligations and goods received.

The (GTCM) Cash Management tool allows you to easily analyze budget variances and variance forecasts based on previous trends or using consolidated views of the Chart of Accounts.

Users can ensure accurate cash management and reporting by imposing warrant controls and augmenting allotments.

(GTDM) Debt Management

Proactively manage debt records and payments with the (GTDM) Debt Management tool from FreeBalance.

The (GTDM) Debt Management module provides debt accounting sub-ledger functionality. It models short- and long-term debt, allowing finance leaders to plan effectively for the immediate and medium term future.

Using the (GTDM) Debt Management module helps governments to ensure that debt obligations are met on time, and provides a range of dashboards and reports for easy analysis of debt commitments.

(GTTM) Treasury Management

Experience streamlined treasury management, improved financial oversight, and enhanced compliance with Treasury Single Account (TSA) requirements.

FreeBalance’s (GTTM) Government Treasury Management module provides a centralized platform for managing treasury operations. This comprehensive module streamlines TSA implementation, simplifying the process of collecting and managing government funds.

It facilitates bank accounts master data management, providing a centralized repository for accurate and up-to-date bank account information. and enables bank account virtual accounts, enabling seamless segregation of funds for specific purposes.

(GTIT) Government Departmental Transfers

Seamlessly manage the flow of government funds between ministries, departments and agencies.

The FreeBalance (GTIT) Government Departmental Transfers module allows authorized individuals to transfer funds between different parts of the government, enabling straightforward budget management and delivering highly efficient fiscal operations.

Movements of funds within (GTIT) Government Departmental Transfers are permitted within the same budgets, dependent on budget balances, and are fully trackable, speeding up key administrative processes while also reducing risk.

(GTPM) Payment Management

Streamline the payment management process, while enhancing efficiency and control.

FreeBalance’s (GTPM) Payment Management module automates the payment approval process, ensuring timely and accurate disbursements.

It seamlessly integrates with procurement, purchasing, and payroll applications, eliminating manual data entry and reducing errors. Additionally, it supports partial payments, advance payments, and grouping multiple invoices into a single payment.

This module facilitates cheque printing or integration with other payment instruments, such as EFT, providing flexibility and convenience.

Additional Reading

Implementing Government Treasury Management Tools Across the Digital Journey In an earlier article we explored the journey which governments go on when they begin to use digital tools for public financial management, and discussed the different stages of an organization’s digital evolution through digitization, digitalization, and digital transformation.
Government Treasury Role of Treasury Management Systems Government financial management and accounting are different from that of private businesses. The accounting principles and regulatory requirements are unique to governments. For instance, governments have to maintain a high level of transparency and accountability, which requires the use of specialized accounting standards. Private sector ERP systems are not designed to handle these specific requirements and may not provide the necessary features to comply with the government's regulatory and reporting requirements.
Government Treasury Management graphic The Benefits of Government Treasury Management Treasury management refers to the process of managing an organization's financial resources, including its cash, investments, and liabilities. Government Treasury Management is a critical aspect of fiscal governance that helps countries manage their financial resources, support economic growth, and ensure transparency and accountability in public finances. A well-managed treasury system can provide governments with the necessary resources to fund public services and investment in infrastructure, education, and health. This is where the FreeBalance Accountability Suite™ comes into play.