Category: Finance

The Public Sector- Government collaborates and implements the ERP solution in Oman

A good governance could expect the Governments and their associated bodies to be transparent, accountable, effective, participatory, efficient and consensus-oriented.

The citizens’ expectations from governance keeps on growing. Governments leverage the power of Information & Communication and Technology (ICT) as a business transformation tool to efficiently manage all kinds of resources, give high-quality services on time and deliver accurate as well professionally managed decisions across the associated organizational machinery.

Being a public sector organization you must contend with various operational factors like operating the fiscal accountability, maintaining the assets, delivering service reliability, the infrastructure and optimizing your workforce. 

You need business systems that are simple and straightforward to meet challenges also to contribute efficiency by streamlining operations for cost-cutting.

Growth of banking and financial services are ensured with operational efficiency and scale of operations. We have areas like business process outsourcing, operations consulting, management, and application development to drive better results for helping the bank to get enhanced revenues.

Suite has a range of products to effectively transform your IT infrastructure into a more flexible business process platform to meet your citizen’s expectations, transparency, improve service delivery, cut operational expenditures, implement policies and move towards large scale technology transformation.

ERP comprises the full spectrum of Governance processes including Debt Management, Financial Management, Budgeting Planning & Execution, HR Management, Project Management & Accounting, Payroll Management, Procurement, Citizen Services, VAT Accounting and Analytics.

The ERP for Public Service Industries addresses the needs and modern challenges faced by Government entities.

ERP for Public Service Industries knows the challenges of government offices and agencies that offer insights to improve your accounting systems and address issues like:

  • The information tracked in multiple databases or offline files that need redundant data entry.
  • Challenges reported on multiple bases and automated CAFR reporting.
  • The organization has outgrown a legacy system with limited reporting functionality.
  • Procure, Budget and manage your costs efficiently.
  • Lacking the tools to control spending by pre-encumbering funds at the time of requisition and purchase.

Atther Global IT Solutions can help you in ERP solution & Implementation for Government / Public sectors in Oman

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    How to Managing Budgets for Odoo 14 Accounting Software

    Managing the budget is an essential part of running a business. Budgets make people intentional the way money is spent as well as organize and prioritize for work to meet financial goals.

    You can plan the desired financial outcome as well as measure your actual performance against the plan. Odoo has budgets with Analytic and General Accounts.

    We have to install relevant apps to use budgeting. The main module is the accounting app. Find the app module to install the Finance and Accounting app. You have to configure as well. Choose the Accounting module with Configuration and go to Settings to enable the Budget management feature.

    The Budgetary Positions

    The Budgetary position has the lists of accounts to keep your budgets like expense or income accounts. They have to be defined so Odoo would know which account needs the budget information.

    Budgetary positions act as a type of restriction to be recorded in the ‘practical amount’ column in a budget.

    Every budgetary position must have the number of accounts from the general ledger assigned. The Analytical account of Odoo needs to know the expenses or costs relevant to a specified budget.

    We have to link our expenses and invoices to a defined analytical account. We have to create an analytical account while entering the Accounting module click menu. The Analytic Accounts must be kept under Configuration, then create a new account by setting a budget.

    We can then set our targets for a budget. If we expect to gain 1000 with this project, we can not spend more than 700. For setting targets, enter the accounting app with Accounting and click Budgets to create a new Budget.

    Request a Demo !

    Fill up the form form below and get a affordable quote or you can call +96899030174

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