Effective capabilities to meet specific needs of Government departments:
- Double Entry Accounting System
- Accrual Method of Accounting
- Fund Based Accounting
- Utilisation Monitoring
- Financial Progress
- Budget vs Actual Variance
- Variance Analysis
- Concurrent Multilingual
- Roll up of data from Blocks to Districts to State to Centre and so on.
Monitor and Manage Funds
TallyPrime offers comprehensive features for monitoring and managing funds starting from financial budget estimates and approved budgets to accounting fund receipts to reporting of expenditure and generation of utilization certificates. Funds can be maintained project-wise, program-wise, funding agency-wise or any other dimensions like this. Fund Management covers recording of fund-wise accounting for receipt of funds, advance payments to below level offices/NGOs/contractors, expenditure accounting, refunds, interest accruals, other incomes, etc.
Flow of funds from Government of India/State Government to the State Departments/Missions to the district offices at lower levels and further to block level and still further down to implementing agencies level at villages can be accounted and tracked. Funds can be accounted and managed at each of these levels starting from State Offices, District Offices, Block Offices, Cluster Offices and implementing agencies/offices at village level. The reporting of expenditure can be established exactly in reverse direction of flow of funds.
Other than the Government, funds received from other organizations like World Bank, DFID, UNESCO, etc. can be tracked separately and reported accordingly. TallyPrime can be integrated with MIS applications or websites of the respective organization by supplying or updating the required information periodically.
Disseminate Intelligence Across Projects
TallyPrime provides enhanced financial budget handling. It provides you with the facility to record estimated financial budgets and submit for approval. The approved financial budget can be recorded along with physical targets and tracked.
The financial progress reports help in monitoring the variance between the required periods by comparing actual expenditure with approved budgets. Along with approved financial budgets, physical targets can also be defined and compared accordingly. This will help in knowing the variance between physical targets and actual progress. It also helps in analyzing the actual physical progress achievement for the expenditure reported during the period.
TallyPrime provides the information to monitor the expenditure nearing/reached 80% of the budgeted values in advance for better planning and seeking approvals for enhancement of budget and arrangement of funds to ensure smooth functioning of the activity/project.
Total Control and Full Visibility
TallyPrime helps in having total control of the project-wise funds and activity-wise expenditure up to date.
TallyPrime with its extensive reporting offers full visibility starting from inception of the project, the funds received, disbursed as advances, activity-wise amount spent and carry forwarded for across multiple financial periods and the available balance.
It provides project-wise information of funds lying at various locations in the form of cash, advances and fixed assets. Bank interest earned on bank balances or deposits can be tracked and maintained project-wise.
It provides an integrated environment for tracking the project-wise unspent grants, cash and bank balances, deposits, fixed assets, activity-wise expenditure and accrued interest. Financial progress, statement of expenditure, statement of programme-wise unspent balances, balance sheet with annexure, income and expenditure a/c and receipts and payments give total control and full visibility.