General Features

The FUD Lite program meets the accounting automation requirements of territorial bodies of public and privatized organizations. Careful simplification and optimization of the available functions make it an immediately available package, structured to meet the specific needs of small and medium-sized organizations. The completeness of its functions, extensive customization possibilities, and ease of use make it an efficient and reliable tool, particularly suitable for administrations where the accounting department consists of one or two people, with reduced bureaucracy.

FUD Lite is designed to be used both in remote configuration, namely with an Internet connection within a wide area network, and on a personal computer or local network. Remote use, in addition to drastically simplifying software installation and maintenance requirements, allows the central organization to obtain consolidated financial statements in real time. The program can also be used in stand-alone configuration, through the traditional installation on the user's personal computer.

FUD Lite is an accounting program based on the single-entry accounting system which, thanks to the specific aspects of its accounting management, is nevertheless able to follow many of the typical criteria of business accounting, providing expenditure control and reporting according to economic criteria. The management elements include:

• The budget forecast of expenses and revenues, prepared in terms of economic/financial competence within the chart of accounts defined by the central organization. It is a forecast relating to receivables and payables expected to mature during the financial year on the individual accounts, whether economic, asset-related, or financial in nature.
• The procedures for recording liabilities and making expenditure payments, with the issuance of payment orders.
• The procedures for recording receivables and collecting revenues.
• The procedures for transferring amounts between different current accounts.
• The management report, indicating recorded receivables and payables, payments and collections, amounts still to be collected and paid (receivables and payables due as of 31/12), the achieved economic surplus/deficit, and the difference between receivables and payables.
• The income statement relating to receivables/payables accrued on accounts of an economic nature.

As can be understood from the above list, FUD Lite presents the typical characteristics of financial accounting, relating to budgets based on competence and residual amounts (receivables and payables), replacing the traditional concepts of commitments and assessments with the principles typical of civil accounting, in terms of debts and credits. The system is designed for three main purposes:

• Allow annual planning of expenses and revenues (forecast budget) and their control (recording of accrued receivables and payables, payment constraints).
• Obtain the management report, highlighting the economic surplus/deficit represented by the organization's current assets (cash, receivables, and payables).
• Allow data consolidation at the central level, for the easy preparation of financial and civil accounting statements.

The essential aspects of the accounting methodology used are the following.

Chart of Accounts
The program provides two charts of accounts, by accounts and by program objectives, with a rigid structure predefined by the central organization or modifiable by the user.

Forecast Budget
The entire structure of public accounting is based on the presence of a forecast budget, aimed at planning receivables and payables achievable within the financial year, to be prepared before the beginning of the year.

Budget Variations
During the financial year, increases and decreases in allocations (due to higher revenues, higher expenses, or transfers) are implemented through the entry and maintenance of budget variations. In the program, budget variations have a Header/Rows structure, where the header contains the details of the variation measure (e.g., resolution), and the rows contain the individual budget items affected (accounts, program objectives) with the related increases or decreases.

Receivables/Payables
These are the basic elements of accounting management during the financial year. The value of receivables/payables is constantly compared with budget availability.

Payments and Collections
The payment document is the official act through which the banking institution (cashier or treasurer) is ordered to make the payment, within the limits of the corresponding liability. The collection document is the act through which completed collections are formalized (recorded), against registered receivables.

Current Account Movements
The system allows the use of multiple bank accounts, postal accounts, or cash accounts, which can be moved between each other through authorized transfers.

Final Financial Statements
The program includes functions for preparing and printing year-end final statements. In particular, it provides automatic calculation and printing of the Cash Journal, the income statement, and the account ledgers.

FUD Lite is developed with Borland Delphi for the MS Windows 32-bit environment. The requirements for clients are those typical of MS Windows 2000/XP/Vista/7 environments, while any network systems are fully compatible with the MS Windows 200x Server standard or later. Thanks to the characteristics of its operating environment, the program takes advantage of the advanced MS Windows user interface and integrates directly with widely used Office Automation packages (MS Excel, MS Word). The software is supplied with comprehensive and easy-to-consult online Help documentation, as well as an automatic update feature via the Internet.