Fund Accounting - Features

Compliance

Complies with the accounting standards of GASB 34, GAAFR, and GAAP (Governmental Accounting, Auditing, and Financial Reporting).
Produces required federal 1099 forms.

Allows you to allocate budgets by accounting period.
Issues a warning or prevents a transaction that exceeds a unit's budget.
Supports expenditure, revenue, and project budgets.
Integrates budgetary accounts into the general ledger.
Monitors encumbrances to ensure they do not overspend while allowing overrides.
Allows you to designate cash controls. Depending on your requirements, the system can either issue a warning or prevent a transaction that would exceed a fund's cash limit.
Allows you to cancel vendor checks and issue checks manually.
Allows you to control the overpayment of invoices by either a percentage or an amount.

Provides a single integrated database.
Interfaces with other systems, such as Human Resources, Purchasing, and Budget Preparation.
Ensures accuracy and flexibility through the use of reference tables. These tables specify settings and values that can be applied to records in your database. Later, as your requirements change, you can adjust all of the records affected by simply changing the appropriate tables.
Utilizes a field-sensitive help function to assist you in selecting the appropriate entries when adding and changing records. The help function provides either a drop-down list of valid entries or a browse page for looking up selections.
Provides an advanced search feature that enables you to use multiple fields and statements in looking up information.
Offers an extensive range of report options, including an option that allows you to customize your own reports.
Generates audit trail records to track the additions and changes made to your database. These records include the names of the users who entered or changed information, dates of the changes, fields affected, previous values, and new data added. These records can be reviewed in reports, either printed or on your screen.
Allows you to periodically purge records from your financial database.

Creates balancing journal entries for inter-fund transactions.
Allows you to close the thirteenth-period transactions multiple times to the next year's ledgers. This enables the next year's ledgers to be current without the need to finally close the prior year.
Provides project accounting, allowing you to track grants, capital projects, and special programs separately from your other accounting records.
Links organization chart records to projects.
Allows you to use modified accrual accounting for recording receivables as revenue.

Provides a web-based environment that is easy to learn and use.
Allows you to access options using menus, keyboard shortcuts, and favorites, depending on your preference.
Enables you to display numerous pages simultaneously. As a result, you can look up records and perform other tasks without having to close your current process.

Restricts account use to particular application areas. For example, you can provide access to payroll accounts for personnel who deal specifically with payroll processing but prevent them from accessing other accounts.
Enables you to grant or deny privileges on a user-by-user basis.