PFMS is basically known as the Public Financial Management System. It is a web-based online software application for payments that is developed by the Controller General of Accounts (CGA), the Department of Expenditure, the Ministry of Finance, and the Government of India. Their main purpose is to track the fund flow systems released under all plan schemes of the Government of India and the reporting of expenditure at all levels. Then, it is expected that the digitalization of accounts can be achieved through PFMS. This also provides stakeholders with a meaningful management information system and decision support system. The outputs / deliverables for the various modes / functions of PFMS include (but are not limited to):
- Payment & Exchequer Control
- Accounting of Receipts (Tax & Non-Tax)
- Compilation of Accounts and Preparation of Fiscal Reports
- Integration with Financial Management Systems of States
PECS provides support for PFMS implementation and IT applications in the government sector. We resolve the operational difficulties in the functionality of software applications and the coordination with district-level officers for the successful implementation of schemes. We have expertise in PFMS and SNA and provide solutions regarding finance. If you have any queries regarding PFMS and SNA, then you can contact us.