The proposed accounting system must meet the following minimum requirements: • General Ledger (GL): Automated recording of transactions with customizable chart of accounts. • Accounts Payable (AP): Vendor management, invoice processing, and payment automation. • Accounts Receivable (AR): Customer billing, invoicing, and collection tracking. • Bank Reconciliation: Automated bank statement imports and reconciliation with accounting records. 3.2 Integration Requirements: • API availability for third-party software integration. • Data migration services from the existing system, ensuring data integrity. • Note: Current system is not integrated with state’s existing ERP, CRM, payroll, or HR system. Modernized system will remain ‘stand-alone’ and will be used strictly for RA fund accounting purposes only. 3.3 User Access and Security: • Role-based access controls and user permissions. • Support for multi-user collaboration with audit trails. • Secure data encryption and compliance with data privacy regulations
