Gov2Biz’s Financial Management Module is seamlessly built into our core platform, offering agencies a fully integrated solution for managing all financial aspects of regulatory operations. From licensing fees and penalties to online payments and reporting, this powerful module is just one of the many reasons Gov2Biz stands as the ultimate centralized platform for regulatory management. With Gov2Biz, you get comprehensive oversight in one system—no additional tools needed—making financial control as effortless as it is effective.
Gov2Biz’s financial management module is uniquely structured as a double-entry accounting system, ensuring financial accuracy for all transactions conducted within the platform, regardless of whether they are licensing, taxation, enforcement, open records or other miscellaneous financial transactions.
This provides transparency and accountability, as each transaction is recorded with corresponding double entries, providing agencies with a reliable, auditable record.
Gov2Biz streamlines financial management within licensing and regulatory operations and ensures this is aligned with standard accounting practices and best practices for financial integrity.
Effective financial management is at the core of Gov2Biz’s platform, providing regulatory agencies with centralized oversight for all licensing, permitting, taxation, and compliance-related financial transactions. With Gov2Biz, financial management isn’t an add-on; it’s a foundational component, ensuring every aspect of your agency’s operations is seamlessly connected.
Gov2Biz’s Financial Management Module integrates fully across the platform, consolidating licensing fees, penalties, fines, and taxes into a single workflow. This approach streamlines revenue management, enhances accuracy, and enables your team to operate from one centralized financial record, minimizing redundant data entry and reducing errors.
With embedded support for online credit card and ACH payments, Gov2Biz enables licensees and other users to pay fees and fines securely and directly through the platform. Built-in PCI compliance provides security, and automatic receipt generation simplifies tracking, enhancing convenience for users and administrators alike.
Gov2Biz takes the guesswork out of financial calculations, automatically managing fees, taxes, and user-defined penalties. Configurable rules apply late fees and interest charges, supporting timely and accurate revenue collection.
Embedded notifications and reminders within Gov2Biz help ensure compliance and reduce overdue payments. Email and in-app alerts notify users of pending payments, upcoming fees, and overdue fines. Through the portal, users can view obligations and settle multiple charges at once, improving both transparency and convenience.
Built for real-world accounting needs, Gov2Biz’s Financial Management Module includes tools for managing refunds, adjustments, write-offs, and more. Detailed logs and audit trails keep processes transparent and accountable, meeting the needs of even the most complex regulatory environments.
A comprehensive ledger captures every financial transaction within Gov2Biz. Standardized reports—such as trial balances, accounts receivable, and revenue object codes—provide your agency with an organized, centralized view of all revenue activities, supporting data-driven decision-making across departments.
With financial management integrated into the Gov2Biz platform, your agency gains a reliable foundation for revenue oversight, compliance, and efficient operations, all in one streamlined system.
The Texas Alcoholic Beverage Commission (TABC) has processed over $1 billion in revenue through Gov2Biz, using our Financial Management Module to simplify complex payment collection, processing and management across licensing, taxes, fines, fees, and penalties—all through one platform.
Gov2Biz supports TABC’s multi-channel payments including credit card, in-person payments, ACH, wire, checks. Over 55% of collections come via ACH and credit card, while the others flow through checks and direct wire transfers into the statewide wire system for high-value taxpayers.
Fully integrated with Texas’s statewide payment processing and with reporting that allows for exacting statewide accounting reconciliation requirements, Gov2Biz provides TABC with functionality, real-time transaction data and reports to allow them to process high volume of transactions with no administrative strain.