CenterPoint Fund Accounting for Municipals

Additional features

1. General Ledger

This is the heart of the system. It records all financial transactions, including revenues, expenses, assets, and liabilities. The general ledger provides a comprehensive view of the municipality's financial position.

2. Accounts Payable

This module helps manage bills and invoices from vendors. It allows for tracking of due dates, generating checks, and reconciling payments.

3. Accounts Receivable

This module handles revenue collection from various sources, such as property taxes, utility bills, and permits. It tracks customer balances, generates invoices, and records payments received.

4. Bank Reconciliation

This feature helps reconcile bank statements with the accounting records, ensuring accuracy and identifying any discrepancies.

5. Cash Receipts

This module records all incoming cash payments, including those received from customers, grants, and other sources.

6. Cash Disbursements

This module records all outgoing cash payments, such as those made to vendors, employees, and for other expenses.

7. Journal Entries

This module allows for recording of various accounting transactions that don't fit into other categories, such as adjusting entries or corrections.

8. Customized Budgets for Each Fund

The software allows for creating separate budgets for each fund within the municipality, such as general fund, capital projects fund, and special revenue funds.

9. Grant Budgets

This feature allows for tracking of grant funding and ensuring that expenditures align with grant requirements.

10. Departmental Budgets

This feature allows for creating budgets for each department within the municipality, helping to control spending and allocate resources effectively.

11. Project Budgets

This feature allows for creating budgets for specific projects, such as road construction or building renovations, helping to track costs and ensure that projects stay within budget.

12. Customize Checks, Stubs, and Invoices

This feature allows users to customize the look and format of checks, stubs, and invoices to match their specific needs and branding.

13. No Monthly or Year-end Closing Procedures Required

This feature eliminates the need for manual closing procedures, saving time and reducing the risk of errors.

14. Simplified Tax Filing

The software can help streamline the process of preparing and filing various tax returns, such as property tax returns and sales tax returns.

15. Annual Report Preparation

The software can help automate the preparation of the annual financial report, ensuring accuracy and compliance with reporting requirements.

16. Drill-down to Original Source Entries

This feature allows users to easily trace transactions back to their original source documents, such as invoices and receipts.

17. Audit Trail

This feature provides a record of all changes made to the accounting data, helping to ensure data integrity and accountability.

18. User Permission by Feature

This feature allows administrators to control access to different parts of the system based on user roles and responsibilities, enhancing security and preventing unauthorized access.