GFEBS BEx WEBL Funds Management
Questions and Answers | Latest Update |
2024/2025 | Already Passed
What is the primary purpose of funds management in financial systems?
The primary purpose is to track and control the allocation, usage, and availability of
financial resources.
How can u...
What is the primary purpose of funds management in financial systems?
✔✔ The primary purpose is to track and control the allocation, usage, and availability of
financial resources.
How can users monitor fund balances effectively?
✔✔ Users can monitor fund balances by regularly generating and reviewing financial reports
that detail available funds and expenditures.
What type of data is essential for managing funds?
✔✔ Essential data includes fund centers, budget allocations, expenditures, and available
balances.
Why is it important to track expenditures against budgeted amounts?
✔✔ Tracking expenditures against budgeted amounts helps ensure that spending aligns with
financial plans and prevents overspending.
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,What are key features of a comprehensive funds management report?
✔✔ Key features include fund center details, budget codes, expenditure summaries, and
remaining balance information.
How can users filter data in funds management reports?
✔✔ Users can apply filters based on criteria such as fund center, date range, cost center, and
expenditure type to refine their analysis.
What is the benefit of regular fund management reporting?
✔✔ Regular reporting provides insights into fund utilization, supports financial planning, and
ensures accountability.
What steps are involved in creating a funds management report?
✔✔ Steps include selecting the report type, applying relevant filters, running the report, and
analyzing the results.
How does funds management support budget compliance?
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, ✔✔ Funds management supports budget compliance by tracking actual spending against
budgeted amounts and highlighting any variances.
Can historical financial data be accessed for analysis?
✔✔ Yes, historical financial data can be accessed to review past fund management trends and
make informed decisions.
What actions should be taken if discrepancies are found in financial reports?
✔✔ Discrepancies should be investigated by reviewing transaction details and making necessary
corrections to ensure accuracy.
How is fund availability tracked and managed?
✔✔ Fund availability is tracked through detailed financial reports that show current balances and
expenditure trends.
What is the importance of data accuracy in funds management?
✔✔ Data accuracy is crucial to ensure reliable financial reporting, effective decision-making,
and compliance with budgetary constraints.
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