The Vendor is required to provide an accounts receivable and accounts payable solution tailored for a court system environment.
- Solution must satisfy the court’s fiduciary responsibilities including assessing state and locally mandated fees, receipting case-related and non-case-related funds, posting case-related funds to a case fee record to maintain accurate balances, maintaining trust accounts and investments, disbursing funds and generating checks, producing payment agreements, producing notices required for collection activities, billing for uncollected funds, reconciling bank accounts, and producing documents required to satisfy county, state, and federal auditing agencies.
- General Accounting Features:
•Comply with generally accepted accounting principles (GAAP).
•Support double-entry accounting for accurate financial tracking.
•Prevent backdating of financial transactions to maintain data integrity.
- Transaction Management:
•Allow authorized users to adjust or correct financial entries while maintaining audit logs.
•Support batch processing for routine financial transactions.
•Automatically reconcile transactions with bank statements.
•Ability to associate all financial transactions with a specific case and/or with individuals involved in a specific case in order to support effective tracking.
•Support tracking and disbursement of funds in accordance with applicable State and Local Laws and Orders.
- Payment Processing:
•Accept multiple payment methods, including cash, checks, credit/debit cards, and electronic funds transfers.
•Enable partial payments and installment plans, with automated tracking of balances due.
- Receipting:
•Generate detailed, customizable receipts for every transaction, including payer details, purpose, and associated case or account.
•Support batch receipting for high-volume transactions, reducing manual processing time.
•This functionality must either be provided directly from the proposed solution or integrate with the Clerk’s existing receipting solution provided by CanAm Teller.
•Ability to endorse received documents based on user defined data.
- Disbursement Management:
•Automate the disbursement of funds to appropriate recipients, including refunds, vendor payments, and trust account disbursements.
•Support electronic disbursements (e.g., ACH, wire transfers) and generate audit-compliant documentation.
- Trust Fund Management:
•Handle trust accounts with the ability to track and manage funds held in trust.
•Calculate interest on trust accounts based on configurable rules (e.g., simple or compound interest).
•Classify funds based on case type or legal requirements.
- Bond Management:
•Provide end-to-end management of bonds, including posting, tracking, and releasing.
•Support various bond types (e.g., cash bonds, surety bonds, property bonds) with proper categorization.
- Reporting and Auditing:
•Generate detailed financial reports, including income, expenses, and balance sheets.
•Provide audit trails for all transactions to ensure transparency and compliance.
•Support user customizable reporting for various court-related financial operations.
- Security and User Management:
•Implement role-based access controls to separate duties and limit access based on roles.
•Ensure multi-factor authentication for users accessing sensitive financial data.
•Provide real-time monitoring and alerts for unauthorized access attempts.
- Additional Requirements:
•Configurable workflows for handling AR/AP processes.
•Support for user-defined rules to automate recurring tasks, such as late fee application, court related fees or payment reminders.