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Financial Module (FM) is a key module that is built on coexistence with DIGIT software that which enables municipalities to create and manage Financial Transactions financial transactions like Budgetbudget, Revenue Demandrevenue demand, Receiptreceipt, Advancesadvances, Depositsdeposits, Billsbills, Paymentspayments, Asset Creation asset creation (Capitalizationcapitalization), Fund Transfer fund transfer and also Reconciliations reconciliations and Reportingreporting.

FM enables municipalities to maintain financial records of ULBs following established procedures and practices. Financial Module is a Fund Based Double Entry Accrual Accounting System fund based double-entry accrual accounting system designed in line with National and Punjab municipal accounting manualthe National Municipal Accounting Manual.

Module Features

Financial The financial module enables users to -

1. Posting of General Ledger

2. Bill Processing: Generation of bills for varied items such as purchases, works, and salaries

3. Payment Processing: Payments are processed based on the type of expense typestype

4. Receipts Processing - from other DIGIT modules or from 3rd any other third party appsapplication

5. Service Wise, Bank Mapping account mapping - Configurable

6. Collection Remittances - Configurable individual mode of collection wise

7. Budgeting: Upload Budgets, Budgetary Controls, Budget Enforcement & Budget Re-appropriations

8. Asset Management: Asset Categorizations, Depreciation, Capitalization & Improvement, Revaluation, sale and disposal

9. Contra Entry, Bank-reconciliation, Deduction Management & period End Activities.

10. Deduction Management - processing statutory and non-statutory deductions and its remittances.

Module Ontology

State Level

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