Federal Core Accounting
Core Accounting is your general ledger and budgeting tool where all of your financial transactions are recorded automatically, determined by rules-based accounting. Set up and control your accounting information in one intuitive application – eliminating redundant data entry.
Transform your Accounting Team
Transition your staff from operational tasks to transaction verification with automatic generation, posting, and reversal of journal entries across multiple ledgers.
Develop and record budgets while continuously tracking funds. Quickly distribute funds across multiple budget levels and easily control spending by assigning monetary limitations at each level. Tight budgetary controls allow you to effectively manage your finances and ensure accurate reporting.
At fiscal year opening, Continuing Resolutions (CRs) are loaded and made available for spending. At fiscal year end, carryover funds are rolled over and made available for the next fiscal year. A funds check is performed on all transactions in real-time in order to ensure availability. The detailed Funds Status report provides a real-time view of all spending activity.
General Ledger Management
Record all debits and credits in the general ledger for every transaction generated from a subsidiary ledger or from an interfacing system. Provide payroll management, journal voucher management, accounting period maintenance, and data integrity reporting features. Reports are generated and validated by the accounting team on a daily basis to ensure no abnormalities exist.
Manual Journal Vouchers
Year-end and audit-related adjustments that are recorded using manual journal vouchers are attached with complete supporting documentation and recorded with predefined JV templates compliant with the Treasury USSGL. Built-in approval workflows mandate review and approval for all manual journals thereby enforcing internal controls and built-in validations.
Accounting Period Maintenance
Fiscal year calendars are pre-configured and operational with 15 accounting periods as per the latest FSIO guidance.
A robust Federalized payroll engine lets you easily map to various file formats from other payroll providers with capabilities to process payroll files, to record payments, receivables and collections, and payroll adjustments.
Manage the business travel management process from authorizations to payments, providing capability to record travel authorizations, advances, and vouchers. Travelers can enter trip details while recording travel authorizations and attach additional documentation. Links to GSA travel regulation documentation on the Travel Authorization screen provide travelers with the allowed rates and assists travel approvers in verifying expenses before making authorizations. The Advance and Voucher modules provide the capability to record advances and vouchers on behalf of employees. The system does not provide a full-scale, out-of-the-box travel management system that fully enforces Federal travel regulations. Customers typically use a third-party travel management system that is fully integrated in real time with the system.
Federal Accounts Payable
Accounts Payable offers a comprehensive workflow for invoice processing to execute the seamless processing, tracking, and payment of bills.
Save Time by Increasing Workforce Efficiency
Convenient invoice receipt methods, including scanning, email, and fax, maximize workforce productivity by reducing the cost and burden of handling paper. A graphical workflow allows payables managers to easily track and process invoices for payment across the organization. Upon entry in accounts payable, optical character recognition (OCR) tools scan the invoice and automatically populate the information into the required fields, transitioning your resources from data entry to verification.
Reduce Duplicate and Improper Payments
A centralized visual workflow gives managers insight and control over the entire invoice lifecycle. Not only can you track invoices across your organization, but you can take action to prioritize, escalate, or reroute for timely processing. Built-in executive dashboards provide real transparency in managing cash, compliance, and productivity. Quickly and easily match invoices to purchase orders and receipts, and dramatically reduce operating costs, cycle times, and duplicate and improper payments.
The Procure-to-Pay function automates Federal financial processes to ensure consistent, efficient, cost-effective, and timely processing of payments. Management tools offer end-to-end process transparency by making information available in real-time. Pre-configured best-practice workflows enable automatic routing of invoices between the various stakeholders, resulting in reduced operating costs and cycle times. Invoice scanning and electronic imaging eliminates the manual exchange of invoice packages. All approved invoices are warehoused for payment, and transmitted daily to the U.S. Treasury. Payment confirmations are recorded daily. Returned payments are voided and regenerated after correction. The payment inquiry report provides real-time payments status. Interest penalties are measured daily against the Federal Interagency Database Online (FIDO).
Track and Manage Reimbursable Services
The system provides Oracle Project Accounting v.R12, a robust project management and accounting tool for tracking and managing reimbursable services. The module tracks costs, both direct and indirect, and integrates with the Accounts Receivable module to generate invoices. Oracle Accounts Receivable v. R12 is also used to manage the reimbursable customer and the billing of reimbursable costs.
Federal Accounts Receivable
Accounts Receivable features a streamlined billing process for the creation, processing, and recording of a wide range of billing and collection types.
Increase Efficiency and Reduce Operating Costs
Quickly and easily record customer invoices, refunds, and collections using an intuitive graphical interface. Configurable late charges, detailed invoice information, and the capability to pay with a variety of convenient methods encourage timely payments from vendors and increase your receivables liquidity.
Provides customer, receivables, invoicing, and collection management capabilities. Receivables are recorded, and bills are generated and mailed to customers. Collections are recorded and applied against customer open receivables. Checks are deposited and these transactions are loaded into the receivables module. Treasury Report on Receivables (TROR) and Aging Report are pre-configured and operational.
Supports civil fines and penalties, recoveries and refund receivables, rent and royalties, grants receivables, government fees, receivables for services and goods provided, and user fees. Also recorded is straight revenue such as Freedom of Information Act (FOIA) receipts, jury duty receipts, reverse Relocation Income Tax Allowance (RITA) receipts, return of travel advance, and recovery of vendor overpayments.
Procurement supports the entire lifecycle of contracts, purchase orders, purchase cards, requisitions, inter-agency agreements and other accepted acquisition forms and processes.
Save Time with the User-Friendly Interface
User-friendly interfaces guide you through the process of creating procurement documents and pre-populated information based on user profiles. You can even save templates for recurring purchases. Simple and advanced search features enable you to quickly locate information and documents, thus saving you valuable time.
Improve Purchase Cycle Times
Approvers are automatically notified by email when an obligation is created and can approve or reject documents ‘on the go’ using mobile capabilities.
Real-Time Funds Check
Integration between the procurement and core accounting promotes strong internal controls that verify the remaining balance on accounting lines and prevents users from spending unavailable funds. You get full support for the entire life-cycle of contracts, purchase orders, inter-agency agreements, and other accepted acquisition forms and processes. Functionalities include creation of purchase requisitions and miscellaneous obligations integrated in real-time with the general ledger and processing of purchase cards and card purchases. It is accessible to users across applications and provides an intuitive search engine. Requisitions, contracts, purchase orders, inter-agency agreements and other obligation documents are recorded in real-time and do not require duplicate data entry. All validations are performed in real-time and error notifications to the end user are available in real-time.
FPD – Requisitions & Simplified Acquisitions
Developed by GCE, the Federal Procurement Desktop (FPD) is a set of business modules that provide users with an easy-to-use interface for performance of daily activities and has out-of-the-box integration with the Federal government’s leading acquisition and requisition management systems, FPDS-NG, CCR, FedBizOpps, ORCA, USASpending.gov, and FedConnect. FPD services tens of thousands of users.
The GCE contract writing tool enables Federal government agencies to effectively manage the complete acquisition lifecycle, from initial planning and requisitioning through to award and closeout. The Federal customer is also able to receive regular FAR updates and stay up-to-date with regulations via the application.
The system is integrated with the Central Contractor Registration database (CCR) for all commercial vendors. Updates are processed daily. Non-CCR vendor and employee management is also supported. You can generate 1099 reports for each calendar year, which are sent to both the vendors and the IRS.
The credit card reconciliation tool captures obligation data from the field and eases the reconciliation of credit card transactions with their associated bank statements. Posted daily, these transactions provide the most accurate status possible of funds data. Data easily maps to various file formats from service providers participating in the GSA Smart Pay purchase card program. Payments are processed daily to maximize rebates. Built-in approval workflows automatically route the purchase logs and reconciliation documents for approval with automatic email notifications to both card holder and approval chain. Audit reporting of transactions and review of account activity is provided.
Federal Asset Management
Asset Management enables you to physically and financially monitor, control, and track agency assets from acquisition to disposal.
Asset information is automatically transferred to the property management system upon recorded receipt of the asset. Depreciation as well as capital gains and losses are automatically calculated for the capitalized property.
Physically account for assets with mobile scanners that directly upload property information into the system while sending instant notifications to property managers about inventory changes.
Federal Reporting and Analytics
Gain instant access to accurate financial data to make better business decisions. Reporting and Analytics lets you search, analyze, and visualize data in real-time with executive dashboards and reports. Rest assured that information presented in your executive dashboards is accurate because data is always pulled from the authoritative source.
Real-Time Business Insights
Gain instant access to accurate financial data. Quickly and easily run standard reports by business process or use the Ad Hoc Query tool to create, format, schedule, and publish customized reports in multiple formats including CSV, Excel, HTML, and PDF. Save important or common report parameters in your executive dashboard for future execution.
Business intelligence reporting includes approximately one hundred pre-configured reports and is designed with built-in Federal reporting standards. These reports meet the needs of the varied user communities.
Reports are delivered to users 24/7 by utilizing a dedicated segment of the GCE processing grid in its clustered database architecture, dynamically scaling to meet reporting demands. Robust real-time business views are built-in directly on top of the transactional database to provide the end users with quick, up-to-the-minute information. Built on robust, simplified business views consisting of standard reports, ad hoc reports, and dashboards, the Services allow users to query information without needing technical knowledge of the underlying data elements.
A full suite of Federal financial reporting services are available including Consolidated Financial Statements, and General Ledger Trial Balance Reports, currently in use by our existing government customers. Financial statements are generated on demand or scheduled as needed directly out of the authoritative core financial system. Financial reports are validated by our accounting support team led by Cotton & Company LLP.
All operational reports are driven by user roles and responsibilities, and security profiles. End Users, Procurement Staff, Finance Staff, and Property Custodians customarily use online queries and standard canned reports, while Management Staff, Program Administrators, and Power Users customarily use standard reports, ad hoc reports, dashboards, and financial reports.
Reports are available in multiple business function areas such as Procurement, Finance, Property, and Accounts Payable. The easy-to-use reports are self service, real-time, and parameter driven. Report parameters can be saved for future execution with the save report search criteria feature. All reports can be exported to MS Excel, PDF, HTML, and CSV formats.
Ad-Hoc Query Tool
The advanced Ad Hoc Query tool can create, format, schedule, and publish reports to support specific user needs with capability to allow unlimited access to all financial information in the system. Ad hoc users can design reports from scratch using various business view folders with an intuitive, easy-to-use ad hoc navigation tool. Ad hoc Reports can be saved in users’ private folders and public folders.
The data extracts service is ready for use on Day One, utilizing industry standard CSV and XML formats, and features a wide range of pre-existing data extracts. The data extracts can be requested as a scheduled extract or on demand and can be downloaded through the GCE secure FTP servers.