Kemi Adeosun, Finance Minister, launches new accounting software
*Issues that States has in terms of budget will no longer be in dispute soon
*Minister of Finance says states yet to convert to IPSAS accrual accounting
By Sandra Onyekwere
Mrs Kemi Adeosun, the Minister of Finance, has launched a new software suite “Onebook” to help improve the problems associated with Public Financial Management across all levels of government in the country.
The software which was launched at the Ministry of Finance headquarters in Abuja during the monthly Federation Account Allocation Committee (FAAC) is capable of capturing various revenue types and would impact the entire financial operations from budgeting through revenue and expenditure management to final accounts” the minister says.
It also offers a complete solution that will allow for standardisation and seamless exchange of information across the tiers of government by providing a unified accounting and reporting solution across key areas from Government expenditure , Financial Treasury as well as receipt management.
The International Public Sector Accounting Standards (IPSAS) compliant accounting software suite Onebook which will guarantee efficient accountability and transparency, enhance Public Sector Financial Management, Analysis and performance Reporting” Adeosun added.
The software captures data once thereby eliminating redundant data processing and also provides a single source of truth on government budget, Appropriation, Allocation, Releases, Obligations and expenditure.
According to Adeosun, the software will be made available to all States and Local Governments to support their accounting and recording processes.
This advanced software is an initiative of the Federal Government through the Finance Ministry.