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GFEBS 2023/2024 already graded A+
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GFEBS 2023/2024 already graded A+
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GFEBSObjectives for GFEBS Implementation - ANS1. Enable the automation and integration of the
majority of the Army's business processes.
2. Use of common data and business practices across the Army and throughout DoD by using
the Standard Financial Information Structure (SFIS) to standardize data.
3. Enable users to produce and access information in a real-time environment.
systems replaced - ANStwo major systems replaced were the Standard Finance System
(STANFINS) and the Standard Operation and Maintenance Army Research and Development
System (SOMARDS).
L. 3 - SDRN - ANSStandard document reference number
SFIS - ANSStandard Financial Information Structure (SFIS
sfis PLUS gfebs ALLOWS - ANSThe use of SFIS within GFEBS facilitates end-to-end
connection of key business activities and provides:
•a means to record and track auditable financial information
•a basis for conducting sound financial analysis
•timely and reliable executive decision support
Funds Management - ANSIncludes budget authority, fund allocation, maintaining funds
availability, performing funds analysis, budgetary accounting, and generating reports
Cost Management - ANSIncludes capturing cost accounting data, performing cost assignment,
cost accumulation, revenue accumulation, cost monitoring, and generating reports.
Financials - ANSIncludes maintaining the chart of accounts and transaction posting rules,
recording Journal Voucher entries, posting transactions to the General Ledger and performing
period end closing.
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