FreeBalance® Accountability Suite
FreeBalance Government Receipts Management
Governments raise revenue and collect receipts through a number of means. To enable the ability for a government to raise revenue, the (GRM) Government Receipts Management category of the FreeBalance Accountability Suite delivers:
- Non-Tax Revenue modules to support government sales and other income including sales, permits and licensing
- Tax Revenue modules to support tax administration for income, business, import and property
- Billing and Receipts modules to support receipts collection including utility billing, collections and cashiering
The FreeBalance (GRM) Government Receipts Management functions in the FreeBalance Accountability Suite include the following:
- Taxation
Support income, property, custom, excise and sales taxes at national and sub-national levels.
- Government sales
Manage sales of government assets, products and services.
- Permits and licenses
Manage permit, license, certification, user fee, fines and other government processes that collect revenue.
- Collection management
Support front and back office receipts handling, collections, invoicing statements, and dunning letters.
- Customer and taxpayer management
Manage citizen and corporate information and identity across revenue systems.
The following FreeBalance modules comprise the (GRM) Government Receipts Management category:
- (GRPL) Permits and Licensing
- (GRRV) Government Receipts Management
- (GRSR) Standard Reports
- (GRCE) Customs Taxation
- (GRCT) Corporate Income Tax Administration
- (GRPT) Personal Income Tax Administration
- (GRPT) Property Taxes
- (GRBP) Bill Presentment
- (GRCM) Case Management
- (GRCR) Customer Relationship Management
- (GRCS) Cashiering
- (GRUB) Utility Billing
Modules may be purchased separately. Please note that module dependencies will determine if other modules in this category or other categories must be purchased. Please contact FreeBalance for more information.
Supported Standards
The FreeBalance Accountability Suite supports good fiscal practice and internationally recognized standards such as:
- United Nations Common Functions of Government (COFOG)
Functional classification to report government statistics to the International Monetary Fund (IMF) and the United Nations
- The IMF Government Finance Statistics (GFS)
Provides a comprehensive conceptual and accounting framework suitable for analyzing and evaluating fiscal policy and performance of the general government sector and broader public sector of any country
- The IMF Code of Good Practices on Fiscal Transparency
Method to assess government fiscal transparency with practical advice
for improvement
- Generally Accepted Accounting Principles (GAAP)
A collection of rules, procedures and conventions that define accepted accounting practices. This includes broad guidelines and detailed procedures applied to both the public and private sectors
- International Financial Reporting Standards (IFRS)
International Accounting Standards Board, International private and public sector reporting standards
- International Public Sector Accounting Standards (IPSAS)
Cash and accrual reporting requirements for government and public sector organizations. Compliance with the IPSAS standards guarantees that the financial reporting of public bodies conveys what is termed a true and fair view of the financial situation. IPSAS take account of the characteristic features of the
public sector.
- Millennium Challenge Corporation (MCC)
Governance outcome measurements supported in performance objectives
- Medium Term Expenditure Frameworks (MTEF)
Multiple year rational planning and budget formulation processes enabling the government to establish credible and transparent criteria for allocating public resources to strategic priorities while ensuring overall fiscal discipline
- The World Bank Treasury Reference Model
A development tool for fiscal managers and system developers, intended to help implement good practices in fiscal accounting and expenditure control
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