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GASB 34 Reporter combines sophisticated power with web-browser ease-of-use to provide the best and most affordable means of producing audit-ready GASB 34 reports!
If you plan to produce a Comprehensive Annual Financial Report (CAFR), we have great news for you! The newly released Combining Statement Add-On Module creates your combining statements for you at the click of a button. Ask your Sales Representative for more information!
What is GASB 34? Statement 34 of the Governmental Accounting Standards Board is the new financial reporting model required for all governmental organizations and schools. Reported as being the most sweeping changes to financial reporting standards in the past 50 years, GASB 34 imposed fundamental changes to the financial reports governments and schools must produce.
All governmental and school organizations are required to comply with GASB 34 regulations. Failure to comply may result in qualified and non-compliant financial statements, which may affect your external bond rating.
Many have assumed that their auditor will handle their GASB 34 needs; however, those who have taken this route have discovered that leaving all the work to an auditor or outside CPA firm may be costly – and is not a complete solution.
Many organizations are learning that becoming GASB 34 compliant demands considerable changes to their capital assets management, accounting methods, and in some cases, their general ledger system. Most are realizing that their present software requires extensive upgrade at a significant cost – if it can be upgraded at all.
FundBalance is the first software company in the country to introduce a complete GASB 34 reporting solution – GASB 34 Reporter!
While most software providers are scrambling to make their systems capable of handling just the data-management requirements of GASB 34, FundBalance already has a true GASB 34 solution!
Starting with the financial information from virtually any general ledger system (via a universal file import), GASB 34 Reporter can produce audit-ready GASB 34 reports!
GASB 34 Reporter is affordable. Most organizations will find that using GASB 34 Reporter drastically reduces the time needed to prepare their financial data, format their reports and produce these reports for their auditors. Most will find that GASB 34 Reporter pays for itself the very first year of use.
Not only does GASB 34 Reporter produce the 10 new basic financial statements that are now a standard part of your organization’s financial reporting requirements, it also provides a complete audit trail for every financial number on the reports. That is, you and your auditor will know the exact derivation of each financial number printed on the 10 basic statements.
GASB 34 Reporter was designed to work with other FundBalance applications as part of an integrated system or as a standalone product for those using a third-party software system.
FBWin General Ledger and Capital Assets users benefit from the seamless integration built into the FBWin product line. GASB 34 Reporter directly imports FBWin General Ledger and Capital Asset data, giving users a tremendous head start
The FundBalance import captures account data, allows you to designate component units and performs powerful analysis on your data – even applying the 5%-10% test to determine major funds. This is all done automatically! No other software product on the market today has this kind of power and integration.
GASB 34 Reporter is capable of importing data output from virtually any general ledger system. Using a new Universal Import feature, GASB 34 Reporter processes any standard ASCII comma-delimited output file that complies with our file layout.
FundBalance has provided financial solutions to government and non-profit agencies for over 18 years. With more then 700 customers in 32 states, we have the experience and knowledge it takes to produce a true GASB 34 reporting solution.
Extensive research and design went into developing the application architecture, logic, and user-interface for GASB 34 Reporter. When FundBalance CEO, Andy Arizala II, first conceived GASB 34 Reporter, he assembled a team of experts to produce the first software application to truly address GASB 34 compliance needs.
The product development team included leaders in the field, such as Paul Glick, nationally known GASB 34 implementation expert, fund accounting experts and top-level programmers. The GASB 34 team also included customer support professionals, software quality assurance specialists, skilled technical writers and software trainers.
The result is an application that has the technical sophistication to tackle the complexities of GASB 34 reporting, and the ease-of-use of a web-browser!
"GASB 34 Reporter" is part of the Fund Accounting line of products, developed by FundBalance, Inc..