This Unified Finance Management System (UFMS), an integrated end-to-end finance management system for central higher educational institutes. It provides a complete suit to streamline all financial and payroll related activities with more efficiency and resource optimization.
The UFMS is strategically developed in pursuance to the stringent accounting standards and guidelines, for the preparation of statements for central higher educational institutes, issued by the Ministry of Education, Govt. of India. The real-time and in-depth information provides valuable insights into the financial health of the institute for faster and accurate decision-making. With the compliance to the rules of double entry accounting system and generally accepted accounting principles prevailing in India, this application record and maintain proper book of accounts with respect to –
Keeping in view the usability by the end-user, the user interface of the UFMS is developed extremely personalized that make even a novice user comfortable to record financial transactions without having proper knowledge of Double Entry Accounting System. In line with the generally accepted accounting principles the UFMS delivers the financial statements in stipulated formats such as – Journal Register, Ledger Book, Trial Balance, Cash / Bank Books, Balance Sheet, Income & Expenditure A/c, Cash Flow Statement and Annual Accounts as stipulated by the the Ministry of Education of Govt. of India for all central higher educational institutes
Manage receipts from various grants, endowment, earmarked, designated Funds and various academic and institutional activities.
Manage payment to the outside contractors for various expenses or procurement of assets or advance/reimbursement to the incumbents or students.
Facility to get cheque printed by the system in single or batch mode, with an integrated Cheque Books Registers to avoid duplicate cheque printing.
Manage details of various sponsored projects and sponsored fellowships & scholarships
A full-fledged integrated payroll system having employee & pensioner database, payroll voucher generation, preparation of payroll documents, auto-email of salary slips.
Manage disbursement of advances, part withdrawal and final disbursement of employees’ provident funds with individual annual statements and other reports with separated Balance Sheet, Income & Expenditures, Trial Balance and Cash Books.
A comprehensive journal entry screen that allow user to enter any kind of monetary or non-monetary transaction pursing the accounting standards.
The UFMS generates annual accounts of the institution in accordance to the formats stipulated by the MHRD for all central higher educational institutes, that consists of –
