International development cooperation holds many opportunities for recipient organizations. It can prove a positive social, economic and environmental change, but has many challenges in terms of financial management. Organizations have to efficiently comply with donor requirements by configuring them into their existing accounting software and usually also adopt complex reporting templates.
However, their existing accounting solutions are often unable or not configured to incorporate new grants in an optimal way. In this context, GFA B.I.S. has developed a simple and easy to use vertical solution for fund management called B.I.S. Fund Reporting in order to assist with the particular challenges faced with grant management and to help organizations with managing the funds from donors.
The B.I.S. Fund Reporting application is based on MS Excel® that works with a free MS SQL® database and involves no additional license costs. The user can store financial transactions, perform comprehensive financial analysis and automatically generate donor specific financial reports. The application can both, import financial transactions from an existing accounting system, and in the absence of an existing accounting system, allow for manual entry.
The B.I.S. Fund Reporting offers powerful analysis features that can fulfil complex donor reporting requirements, and combines these with the fast set-up, familiar user interface and the ease of use of an Excel sheet.
The B.I.S. Fund Reporting contains a set of standard reports such as Budget Monitoring Report (Budget Tracking Tool), Commitment Monitoring Report, payment tracker, per diem monitoring, advances monitoring and a Bank Reconciliation Statement. This reporting package will be extended with donor specific reports on request, including a dashboard to display the financial information in graphical form.
The combination of advanced analytical features and flexibility makes B.I.S. Fund Reporting ideally suited for different scenarios; as reporting extension for existing accounting systems, as temporary accounting system or as reconciliation system if selective features are missed in the existing system.
For more information, please refer to the following fact sheets in English or French.