Efficient collection and recording of revenue.
This component is aimed at providing functionalities for collection, recording and classification and reporting of Government revenue. It involves all activities related to revenue and cash management from generation, collection, recording of revenue and distribution of funds to MDAs and Counties.
It also facilitates timely reconciliation of bank accounts. This translates to the automation of the following core processes within Government:
- Recording and reporting for revenues collected by Kenya Revenue Authority (KRA);
- Collection, recording and reporting for revenues collected directly by MDAs, Counties, among other sources;
- Recording and reporting for funds disbursed to National and County Governments;
- Auto bank reconciliations; and
- Cash flow management in terms of cash forecasting and cash positioning.
IFMIS manages these processes through the core IFMIS system.