Government accounting follows GASB standards, not GAAP — with fund-based accounting, encumbrance tracking, and budget management requirements that no commercial ERP handles well. Nexus does.
Governments maintain dozens of fund types — general, special revenue, capital projects, debt service, enterprise, and fiduciary. Each fund operates as an independent accounting entity with its own financial statements. Managing this in a commercial ERP requires extensive customization.
Government appropriations create legal spending authority. Encumbrance accounting must track commitments against budget authority in real time. Overextending appropriations is a legal violation, not just a financial control failure.
The Annual Comprehensive Financial Report requires government-wide financial statements, fund financial statements, and extensive statistical and compliance sections. Preparing it from the GL is one of the most complex financial reporting challenges in any sector.
GASB (Governmental Accounting Standards Board)
2 CFR 200 (Uniform Guidance for Federal Awards)
OMB Uniform Guidance
ACFR reporting standards
ACFR preparation
time reduced by 35%
Budget overextension
prevented in real time
Federal grant
compliance maintained automatically
See how Plurafi handles your industry's complexity