Draft Budget Preparation
This service provides comprehensive preparation of draft budgets for the beneficiary entity, including revenue and expenditure estimates based on historical data and future projections.
Methodology: Conduct workshops with departments to gather input, analyze historical financial data, prepare draft budget proposals, and review with stakeholders for final approval.
Approved Budget Execution
This service ensures proper execution of the approved budget by monitoring allocations, tracking expenditures, and ensuring compliance with financial regulations.
Methodology: Implement budget monitoring systems, track spending against budget lines, generate periodic reports, and recommend corrective actions when needed.
Budget Augmentation Request
This service handles requests for budget increases or amendments due to unforeseen circumstances or new requirements.
Methodology: Assess augmentation requests, prepare justification documents, coordinate with relevant authorities, and track approval status.
Internal and External Transfers Execution
This service manages internal budget transfers between departments and external transfers to other entities as authorized.
Methodology: Process transfer requests, verify authorization, execute transfers in the financial system, and maintain proper documentation.
Budget Commitment and Encumbrance
This service manages budget commitments and encumbrances to ensure funds are reserved for approved expenditures and contracts.
Methodology: Record commitments in the system, track encumbrance balances, release funds upon invoice verification, and generate commitment reports.
Monthly and Quarterly Financial Performance Reports
This service prepares comprehensive financial performance reports analyzing budget execution, variances, and key financial metrics.
Methodology: Compile financial data, analyze budget vs. actual spending, prepare variance analysis, and generate detailed reports for management review.
Board of Directors Budget Report
This service prepares detailed budget reports for the Board of Directors, highlighting financial performance and key decisions required.
Methodology: Summarize financial data for board presentation, prepare executive summaries, and support board meetings with detailed backup documentation.
Beneficiary Entity Accounts Management
This service manages accounts receivable and payable for the beneficiary entity, ensuring proper recording and collection.
Methodology: Maintain accounts receivable ledgers, follow up on collections, process payments, and reconcile account balances.
Vendor Accounts Management
This service manages vendor accounts including setup, maintenance, invoice processing, and payment processing.
Methodology: Maintain vendor database, verify invoices against contracts, process payments, and manage vendor relationships.
Bank Accounts and Etimad Platform Management
This service manages bank accounts and coordinates with the Etimad platform for government financial transactions.
Methodology: Monitor bank accounts, process transactions through Etimad platform, reconcile bank statements, and ensure compliance with government requirements.
Asset Management
This service manages fixed assets including acquisition, depreciation tracking, and disposals.
Methodology: Maintain asset register, track depreciation, process acquisitions and disposals, and generate asset reports.
Revenue Management
This service manages revenue recognition, recording, and collection for the entity.
Methodology: Record revenue transactions, reconcile with bank receipts, follow up on collections, and generate revenue reports.
Advances Management
This service manages employee and project advances including processing, reconciliation, and recovery.
Methodology: Process advance requests, track outstanding advances, reconcile with final expenses, and recover excess advances.
Government Payments Management
This service manages government payments including taxes, fees, and other obligatory payments.
Methodology: Calculate government payments, prepare payment files, submit to authorities, and maintain compliance records.
Accounting Entries Preparation
This service prepares all accounting journal entries for financial transactions.
Methodology: Analyze transactions, prepare journal entries, post to general ledger, and maintain supporting documentation.
Bank Reconciliation Preparation
This service performs bank reconciliation to ensure accuracy of cash records.
Methodology: Obtain bank statements, compare with cash records, identify discrepancies, and prepare reconciliation reports.
Financial Statements and Final Account Preparation
This service prepares complete financial statements and final accounts for the entity.
Methodology: Compile all financial data, prepare financial statements, conduct final account review, and prepare for audit.
Government General Ledger Preparation
This service prepares the government general ledger in required formats.
Methodology: Extract general ledger data, format according to government requirements, and prepare submission files.
Monthly Schedule Preparation
This service prepares monthly financial schedules and supporting schedules.
Methodology: Gather monthly data, prepare supporting schedules, reconcile with general ledger, and compile monthly reports.
Tax Records Processing
This service manages tax records including VAT, withholding tax, and other tax compliance.
Methodology: Calculate tax liabilities, prepare tax returns, submit to tax authorities, and maintain tax records.
Final Bank Guarantees Follow-up and Release for Vendors
This service manages bank guarantees for vendors including tracking, renewal, and release.
Methodology: Maintain guarantee register, track expiration, process releases, and ensure compliance with contract terms.
Providing Regulatory Authorities with Beneficiary Entity Requirements
This service coordinates with regulatory authorities to fulfill beneficiary entity requirements.
Methodology: Identify regulatory requirements, prepare submissions, coordinate with authorities, and track compliance.
Investment Management
This service manages entity investments including portfolio monitoring and returns tracking.
Methodology: Maintain investment register, track performance, prepare investment reports, and recommend investment strategies.
Creating and Updating Financial Regulations, Financial Authority Matrix, and Chart of Accounts (CoA)
This service develops and maintains financial regulations, authority matrices, and chart of accounts.
Methodology: Review existing policies, develop financial regulations, create authority matrix, update chart of accounts, and ensure compliance with standards.
