The FreeBalance Accountability Suite is designed for managing government fiscal processes from the ground up. The FreeBalance IFMIS is implemented by activating functionality options through software configuration rather than bespoke programming and software source code customization.
Governments worldwide select required functionality that reflects the unique country circumstances and can activate additional features and functionality as the political process evolves. The FreeBalance IFMIS is initially scaled down for fast implementation of a simple system, which can be extended over time to reflect evolving government needs and budget frameworks.
- Localization. All translations, including terminology changes are easily accessible by the customer through simplified methods for uploading translation files. All software modules support multiple languages and multiple currencies of up to 14 digits and 2 decimal places.
- Configuration. The software configuration includes selecting and setting the Chart of Accounts (COA), accounting methods (cash, modified cash, accrual, modified accrual accounting), the government purchasing processes, fiscal periods, approval methods, valid code combinations, business rules, workflow, reporting entities and authorizations.
- Progressive activation (sequential activation of additional functionality) though allowing ongoing changes to the accounting methods, budgetary controls and initial country-specific configuration to support evolving political processes and capacity building.
- Adaptable connectors to 3rd party software, such as Customs and Taxation systems, secure cheque printing and electronic funds transfer systems.
- Multi-tiered Government Synchronization (MTGS). MTGS enables stand-alone systems located at nodes such as the Ministry of Finance (MOF), line ministries or regional offices to be connected by a wide area network (WAN), usually through VSAT satellite communications. This deployment enables synchronization of data between the nodes and different levels of government.