Public Accounting

Public Accounting

Public organizations linked to government administrations are expected to fulfill growing demand in citizens’ needs, offering a set of high-quality services tailored to strict budget boundaries.

The budget is the main tool from which to develop public service objectives. In this sense, it is imperative to have a system that highlights the constraints of a budget and implements it in specific terms. This approach allows public organizations to develop and modernize their financial activity.

Axional ERP/FI – Public Accounting provides all the functions and features that ensure an efficient, flexible public accounting system that adapts itself to administrations’ broad range of requirements. The system is equipped to facilitate and automate the usual tasks linked to tax and fiscal requirements according to the administration’s accounting cycle.

This solution supports different automated document generation models, whereby public accounting documents can automatically produce general ledger transactions. Furthermore, management documents such as order delivery notes and invoices can simultaneously feed both the general ledger account and public accounting structures.

All public accounting documents are allocated according to the parameters of a predefined system of operations, establishing the accounting structure of general ledger entries, which types of documents are involved, and how accounts, items, and headings interact.

The key features within the scope of this module are:

  • Management of the budgetary accounting model (budgetary transaction document) used in most public administrations.
  • Budgetary headings and hierarchical subdivisions for each fiscal year or period.
  • Automated integration with  general ledger bookkeeping, providing a dual accounting model: Public/Budget and General Ledger accounting.
  • Wide range of options for reports and lists to track accounting transactions based on multiple reporting options.
  • Documents pending or already created for expense/income in relation to the public accounting document flow phases, which enhances ease of use.
  • Control of remaining budgetary funds available anytime.
  • Free budget amendment Operations availability: transfers, cancelations, etc.
  • Budget Management Operations: credit hold, authorizations, regulations, warrants, payment issuing and recording payments issued, as well as various combinations of these document flow phases and their inverse operations.
Notable benefits
  • Dual accounting model. Public accounting fits within traditional general ledger accounting, thus providing a dual model operating simultaneously in the public and private framework.
  • Core integration with the management system. All documents: delivery notes, invoices, etc. are able to register their transactions in both public and private accounting models at the same time, also reserving budget amounts according to the heading or phase of the budget.
  • Control of accounting cycles. Adaptable to different approval cycles or budgetary control, which may be modified on a yearly basis.

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