Financial Management

Financial Management is a comprehensive management information and accounting system for issuing purchase orders, encumbering funds, processing invoices, printing checks, recording transactions with vendors, maintaining the general ledger and providing informative financial reports.
GovernMENTOR emphasizes separate detailed accounting and reporting for each of the several subparts of a government as well as accounting and reporting for the government unit as a whole. GovernMENTOR places significant importance upon providing accurate and timely reports to ensure that spending restrictions are met. These capabilities are provided through the user specified accounting structure.
The Fund Accounting module, as with all other modules, is designed to be easy to use while maintaining control and producing high quality management information. Data is entered through screens prompting each piece of information, verifying for accuracy as entered, and providing ample opportunity for adjustments, corrections and revisions.
GovernMENTOR’s Financial System is divided into three major modules: General Ledger, Purchasing and Accounts Payable.
General Ledger/Budgeting
Governments place a primary emphasis on "Financial Flow" of information and uses of "Available Spendable Resources" used during a period. For this reason, GovernMENTOR is capable of encumbering and appropriating funds, generating revenue and expense reports. Financial statements include comparisons of provided budgeted amounts with actual results of operations.
Detailed information is also provided to help satisfy their legal and political responsibilities for determining and demonstrating compliance with the various legal provisions used to ensure acceptable governmental organization performance and effective management stewardship. The Revenue Report, Expense/Appropriation Report and Income Statement contain information referring to encumbered balances, month and year-to-date expenditures and revenues, beginning and adjusted budget balances, and last year’s actual for comparison.
GovernMENTOR is designed for all other modules of the system to automatically feed financial information into the General Ledger module. The primary entry screens are the Journal Entry and Cash Receipts screens. These two screens with information received from other modules provide the complete data entry requirements for the General Ledger.
The General Ledger system utilizes general accepted accounting principles. Financial reports include:
Expense/Appropriation Report
Income Statement
Combined Balance Sheet
Detail Transaction Reports
Condensed Revenue Report
Consolidated Revenue Report
Defined Period Revenue Report
Last 5 years Actual Revenue Report
Standard Revenue Report
Standard Balance Sheet
Trail Balance
Condensed Expense Reports
Consolidated Expense Report
Defined Period Expense Report
Last 5 years Actual Expense Report
Chart of Accounts
Budgeting & Other Features
Ability to enter, store and print last five years actual revenues and expenses
Ability to enter, store and print last five years budgets revenues and expenses
Ability to enter requested, revised and amended budgets
Ability to print budget worksheets
Automatic Recurring Journal Entries
Account Number Inquiry
On-line Assistance
The Purchasing module provides control over purchasing practices. It also makes this control easier to maintain by decreasing the effort required to track purchase orders and related information. Purchasing data interacts with all other pertinent modules automatically.
Certain care has been taken to ensure maximum flexibility in the design of the purchasing module. Features of flexibility are as follows:
Purchase orders may or may not be printed.
Several types of purchase order may be used (Standard, Open, Manual, etc.)
Budgeted overdraft (by password approval only)
Multiple invoices may be placed on individual purchase orders or vouchers.
Modifications can be easily made to purchase orders when invoices are entered.
Data is initially entered through the purchase order posting screens. There are only three steps to be completed to establish a purchase order. The first step is entering general purchase order information. The second step is entering general ledger distribution. The final step is entering items purchased to print on the actual purchase order.
GovernMENTOR’s Purchasing module provides many various reporting options for each of the purchasing reports. These reports may be displayed on the CRT or may be printed for the operator’s convenience. Purchasing reports produced by GovernMENTOR include:
Purchase Order Register
Purchase Order Review
Voucher Register
Purchase Order Closeout
Purchase Order Printing
Outstanding P.O. Report
Purchase Order Void
Purchase Order History
Outstanding PO Report by Vendor
Accounts Payable
The Accounts Payable module provides controls over vendor invoices and subsequent payments. A complete vendor history is maintained to provide easy access to previous transactions.
Certain care has been taken to ensure maximum flexibility in the design of the accounts payable module. Features of flexibility are as follows:
Multiple Invoices on one Purchase Order
Invoices May Exceed PO under controlled conditions
Multiple Cash or Payable Accounts
Multiple Funds Updated by P.O.'s
Accrual or Cash Accounting
Purchase Order Distributions may not only be made to expenses, but also to Revenues and Balance Sheet Accounts. Payment dates may be rescheduled effortlessly. Manual checks may be processed without difficulty. Invoices may be charged to previous month or previous year, and PO’s that are carried from one year to another may automatically be assigned to a special Prior Year’s Reserve for Encumbrance account resolution in less year end or audit adjustment to determine budget compliance.
Invoice information is initially entered through the Invoice Entry screens. GovernMENTOR’s invoice entry allows multiple invoices, checking each to prevent duplicate payments. All distributions for the purchase orders, are automatically transferred to the invoice (when the purchase order and invoice amount equal) and expensed. When the expense or liquidation is less than the PO encumberment of the PO, the system will require password security (for administrative approval) to proceed with the additional expenditure.
After invoices have been entered, the system will automatically complete the rest of the Accounts Payable process with very little operator intervention. Checks/warrants may be easily printed (in any order desired), automatically combining multiple invoices from multiple funds on a single check/warrant (if desired). After checks/warrants have been printed, a Check/warrant register (along with many other reports) may also easily be printed showing all checks/warrants written for invoices entered
Accounts Payable Reports produced by GovernMENTOR include:
Payment Schedule by Date
Payment Schedule by Pay Type Code
Payment Schedule by Fund
Payment Schedule by Month
Invoice Distribution Summary
Paid Payment Schedule by Vendor
Open Warrant/Check Register
Voided Warrant/Check Register
Payment Schedule by Vendor
Payment Schedule by Account
Payment Schedule by Fund/Office
Payment Schedule by Liability
Voucher Register
Warrant/Check Register
Yearly Warrant/Check Register
The accounts payable module tracks extensive vendor history and assists with future inquiries on payments made to vendors. All entries are automatically transferred to the appropriate general ledger accounts as vendor’s invoices are entered and processed for payments.
Vendor Reports produced by GovernMENTOR include:
Vendor Report by Account Number
Vendor Report by Address Three
Vendor Report by Classification
Last Year's Purchase Report
1099 Report
Vendor Report by Name
Vendor Report for Marketing & Sales
Vendor Administration Report
Open Invoice Report
Yearly Vendor Purchase Report