Financial Management Software (FMS) is an Enterprise Resource Planning solution designed to simplify and optimize financial operations for municipalities.
FMS Key Features
Accounts Payable
- Improve internal control by routing invoices for management approval.
- Automate bank and payables account reconciliation.
- Send critical information notifications, such as vendor payment name and address changes.
- Optimize payment dates to enhance financial planning.
- Reduce the monthly closing cycle.
Accounts Receivable
- Customize billing and receivables management to your specific processes.
- Accommodate multiple methods of cash application, including unapplied cash accounting.
- Accumulate historical data by various criteria, allowing for in-depth analysis.
- Retrieve analysis by customer, customer group, product, or other classifications through powerful online inquiries and reports.
Budgeting
- Create customized budgeting solutions that align with your organization’s processes.
- Automate budget approval routing according to your specific workflow.
- Conduct in-depth financial performance analysis versus budget.
- Perform automatic computations and allocate budgets to different organizational units.
- Easily attach budget commentary and supporting documentation.
Fixed Assets Management:
- Efficiently manage large investments with automation.
- Automatically update the General Ledger.
- Generate multiple entries with a single transaction, facilitating disposal actions and depreciation calculations.
- Easily convert budgeted assets to actual assets.
- Reduce asset maintenance time through mass maintenance features.
General Ledger
- Tailor the Chart of Accounts to meet specific information and reporting requirements.
- Report financial and statistical data in various ways using online queries, dashboards, and more.
- Accommodate special reporting needs, including multiple ledgers and fiscal years.
- Track and report all financial and statistical data, from positions to hours served.
Inventory Management:
- Reduce data entry time by automatically updating inventory balances for various inventory activities.
- Automatically generate notices or purchase order requests when re-order points are reached.
- Compute costs and identify slow-moving or obsolete items.
Procurement:
- Streamline procurement processes and reduce paperwork.
- Automatically match purchase orders, receivers, inspection reports, invoices, and freight charges.
- Provide online access to historical data for vendors, vendor groups, items, and transaction types.
- Support decentralized requisitions with automatic approval routing and status tracking.
Project & Grant Accounting:
- Accommodate unique needs, including subsidiary ledgers, multi-year grants, and capital projects.
- Record grants as soon as applications are submitted, automatically tracking approval status.
- Generate reports on project expenditures, percentage of completion, and remaining budget.
Business Intelligence & Reporting:
- Enhance reporting capabilities with FMS DataLink for seamless communication with desktop applications.
- Access the latest Microsoft .NET development tools for web-based data display.
- Select data from various FMS modules, including General Ledger, Project Accounting, Job Cost Accounting, and Purchasing.
Integrations:
FMS integrates seamlessly with several other software solutions, including FastTrackGov, Open Checkbook, Socrata, System Innovators, WinCAMS, IBM Maximo, OnBase by Hyland, e-PlanSoft, Selectron, ViziTrace, and Esri, further expanding its capabilities and compatibility.