eRKTM-BG enables the preparation of a detailed budget based on the most recent data available, achieving accurate and reliable operating budgets that supports strategic budgeting objectives and processes, which reduces time frame and the manual efforts required in preparing budgets.
Features
End-to-end budget planning provides detailed budgets with strategic goals to facilitate planned business targets.
Budget could be prepared by individual vote.
Budget could be prepared by individual department.
Due to controlled and secured system,it provides a structured workflow.
On screen comparisons, such as Actuals, Budgets, Commitments, Variances.
Creates budget reserves and restricts funds for future expenditure.
Budget at any level within an organization for any time frame and for any account code.
Provides tight security on each transaction based on the user's level.
Current year budget could be increased / decreased by specified percentage.
Based on previous year's budget.
Users can compare their current budget with previous periods and variances are calculated automatically for each line item.
Fiscal year and calendar year based budgeting.
Minimizes resources required to develop budgets, particularly over peak periods by setting up prerequired items.
Budget can divide expenditure for a corporate support cost center between other areas in the organization, e.g. Admin Dept may not receive its own funding, but have an allocation from other units.
It allows such cost center to develop a budget.
Enables unlimited number of transactions, on each budget account.
Enables unlimited number years of budget allocation preparation.
Tracks and measures Actual vs. Budgeted.
Authorized personnel could do virement in and virement out of the budget.
Budget reserves could be carried out before the virement transaction.
Budget is automatically reserved when an activity is in progress, e.g. tender or quotation.
Finance managers can get up-to-date and accurate financial reports based on unique account groups, cost centers, projects and funding sources at any level.
User defined attributes can be assigned to data subsets to analyze and monitor throught the fiscal year.
The master database supports up to unlimited years (depending on hard disk capacity) of historical financial data, including the current year budget and budget ptojections.
Allows sophisticated distribution of expenses and income without creating unmanageable and uncontrolled growth of General Ledger accounts.
Integrated with revenues, financial and human resource systems.
Synchronize budgets with business plans to enable users to use business plans, as the foundation for organization's budget to achieve high-level goals, to compare actual results against budgets and plans and then taking action.
Enables online enquiries.
Configurable Budget tracking amounts, e.g. track amounts related to pending transactions.
Optional Features
Leverage an intuitive spreadsheet-like interface for planning, analysis and reporting budget data.
Budgets are approved and signed-off, as they are completed and the budget file locked when funding is approved, so that managers know exactly how much they have to work with.
Allocating over a period, which can be either input of an amount for each that workers compensation premiums are paid quarterly, so the predefined ratio might for example be divided between June, September, December and March or allocate the items using an even split, or predefined ratio.
Automates allocations, calculations and cost splitting.
Ad-hoc report generation and printing.
Reports
Detailed breakdown by department / vote.
Vote book master / transaction / processing lists.
Daily.
Vote details.
Expenditure.
Outstanding commitment (LO/IO/CO).
Outstanding liabilities.
Budget master.
Comparative and analysis reports, such as Budget Vs. Actual.
Vote detail history by transaction type.
Indicative report on the budget level.
Comparison data (actual / allocated / projected).
Listing of transaction by type / invoice number / document number / supplier number / date.
Vote book report list.
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.: eRKTM-FINANCIAL
eRKTM-Financial consists of the following modules, please click on the product code for more information.
