Appendix A: Benefits by Module
CAPPS Financials – Core Modules (4)
Maintains transaction and vendor data while invoices are paid in a centralized system, including matching (verification) with purchase orders and receiving. Integrates with the current statewide vendor and accounting systems.
- Ensures through automated reconciliation that agencies only pay for goods and services that were ordered and received.
- Provides a rigorous audit trail for vendor and voucher information.
- Provides a single, centralized source for transaction data.
Provides a fully integrated asset information system, including integration with the Requisitions, Purchasing, Receipts and Accounts Payable modules.
- Reduces redundant data entry and simplifies asset maintenance and reconciliation.
- Adheres to generally accepted accounting principles (GAAP), Governmental Accounting Standards Board (GASB) rules and statutory reporting.
- Allows agencies to track non-financial asset information like physical movement, location and custodians.
General Ledger/Commitment Control/Cash Receipts
Provides efficient and flexible processing of financial data with real-time controls to ensure data accurately meets agency reporting requirements.
- Enables flexible reporting to meet federal, state and agency-specific requirements.
- Provides real-time check of transactions against appropriation, organization, project budgets and management of encumbrances and pre-encumbrances.
- Enables efficient processing of general ledger data through various delivered data entry functions and features.
- Allows for comprehensive budget inquiry with drill-down-to-source-transactions capabilities.
Improves processing efficiency for the purchase of goods and services (including requisitions) with electronic approvals, contracts, purchase orders and receipts. Ensures statewide policy compliance through data validation and integration of documents within the procurement lifecycle.
- Provides a centralized source of transaction processing.
- Enhances traceability and visibility for the entire transaction lifecycle.
- Enables integration with the Accounts Payable, Asset Management and Commitment Control/General Ledger modules.
- Facilitates internal agency and statewide reporting such as historically underutilized business (HUB) data for oversight entities.
- Integrates with the LBB Contracts Database. Identifies LBB-reportable contract records and submits the required data and documentation to the LBB daily.