G-FACTS [GOVERNMENT FINANCIAL ACCOUNTING SYSTEM] design & developed by NIC Bihar State Unit is aimed to be a generic Financial Accounting System suitable for government financial transactions.

This uses Double entry Accounting system which is considered to be more transparent, accurate and error free approach. This can assist any office for preparing Accounts, Cash Books and other analysis reports required for day-to-day financial Management. This helps in preparing Cash Book, Bank Book, Journal Book, General Ledger, Subsidiary Ledger, Trial Balance, Sub Trial, and Balance Sheet, Bank Reconciliation Statement, Income and Expenditure Statement. This can be implemented to Monitor Financial transactions between District, Blocks and Panchayats and also prepare various registers such as Allotment Register, Cheque Book Register, Asset Register, Utilization Certificate etc. This is being implemented in 534 blocks (two offices each), 38 DRDAs. It is also being proposed to move it to Panchayat level.

The main objective of the software is:
1. Strengthening of District and Block level Accounting System.
2. Financial Monitoring of Programs.
3. Financial Control of Developmental Programs.
4. Control of Misappropriation of Funds
5. Detection and Prevention of Errors and Frauds.
6. Maintenance of Bank Accounts
7. Assist in Audit and Verification of Accounts

Mr. Vijoy Prakash, IAS, Principal Secretary, Rural Development Department, GOB spoke at length about the use of G-FACTS application software in his inaugural address during Training on G-FACTS at L.N.M.I., Patna along with Shri Santosh Kumar, Sr. Technical Director & SIO, Bihar and Shri Shailesh Kumar Shrivastav, Technical Director & Project Co-ordinator.