IPSAS Implementation Challenges

ExpressBook PSA

About ExpressBook PSA

ExpressBook PSA is full-featured IPSAS-compliant Accounting and Budget Administration software. The Nigeria version has been customized to work with the IPSAS National Chart of Accounts, released by the Office of the Accountant-General of the Federation.

ExpressBook PSA complies with both Cash and Accrual IPSAS accounting. It comes pre-loaded with the National IPSAS Chart of Accounts and Budget Preparation template, and comprises of the following standard modules:


  • Budget Administration & Control
  • Treasury
  • Accounts Payable
  • Accounts Receivable
  • Inventory Management
  • Noncurrent Assets Management
  • Projects Monitoring & Control
  • Periodicals
  • Journals

ExpressBook PSA is not just about features; it is more about relevant and ease of use. The system has been customized based on the practical requirements of the National Chart of Accounts and the exigencies of the Nigerian system, without compromising any of IPSAS’s requirements. For example, we have put in so much into designing and building the Budget and Project monitoring and control modules because of the importance of these two activities to the government. Integrating these two modules seamlessly with the General Ledger also makes execution, monitoring and reporting very easy. It is our hope that public sectors in Nigeria (at the Federal, State and Local government levels) will embrace this software as part of their efforts and duty to render transparent accounting in line with the provisions of the International Public Sector Accounting Standards (IPSAS) and win the trust of the people.

Below are detailed features of ExpresBook PSA.

Budget Administration & Control

The Budget module is designed to implement all aspects of IPSAS 24, and contains tools for budget preparation, updates/adjustments, monitoring and reporting. Some of the key tasks include:

Budget Classification

  • Budget Classifications
  • Budget Preparation Worksheet
  • Budget Approval Setup
  • Supplementary Budget
  • Budget Transfer
  • Final Budget Reports in various formats and charts

Special utilities have been embedded in the system to automatically monitor and enforce budget compliance. Budget execution or implementation is also automated since Budget is tightly integrated with General Ledger through the common chart of accounts. There are several reports and charts in various formats for budget analyses and appraisals.


Due to the peculiar nature of the National Chart of Accounts, the Treasury module contains special utilities to enable efficient management of the cash and bank accounts without distorting the approved chart of accounts. One of those special utilities is the Bank Control which allows the setting up of individual bank accounts, along with other relevant details, and linking each bank to appropriate control account in the National Chart of Accounts. Other tools provided for efficient management of the treasury include:

Main and Treasury

  • Petty Cash Management (Cash Requisition, Approval & Retirement)
  • Cash Payments & Receipts
  • Money Transfers (including cross-currency transfer)
  • Vendors’ Purchases Payments
  • Sales Receipts
  • Bank Reconciliations
  • The Treasury module, on its own, can fully implement the Cash-Basis IPSAS.

Accounts Payable

This module is designed to handle all purchases based on either Local Purchase Order (Goods) or Work Order (Service) from registered vendors or contractors, based on accrual basis of accounting. The module has tools to carry out the following tasks:

Purchase Order

  • Vendors’ Registration
  • Purchase/Work Order Entry
  • Order Approval/Invoice

Payments for the goods and services are carried out under the Treasury module, while the goods supplied are received under the Inventory module.

Accounts Receivable

This module is designed to handle the sale of all income-generated goods and services on accrual basis. The primary tasks include:

  • Customers’ Registration
  • Sales Order Processing
  • Invoicing

Receipt of money for goods or services provided is carried out under the Treasury module, while the release of goods is performed under the Inventory module.

Non-current Assets Management

This module provides the tools and utilities for classification, measurements and presentation of non-current assets in accordance with IPSAS 16 & 17. The primary tasks include:


  • Assets Classification
  • Initial Measurements
  • Subsequent Measurements
  • Impairment
  • De-recognition
  • Presentation & Reports

Aside from meeting the IPSAS requirements, we have also provided a special utility for the tracking and monitoring of each asset by maintaining a comprehensive Asset Allocation Register.


The inventory module is implemented based on IPSAS 12. It performs the following primary tasks:

  • Opening Stock
  • Goods Release
  • Goods Receipt
  • Goods Transfer
  • Inventory Update/Write-down

This module is directly linked to Purchases and Sales Order Processing, as inventory is automatically updated when goods are purchased or sold. But the actual release or receipt of goods must be carried out in this module.

Projects Monitoring & Control

This is a special module that is designed to monitor and accounts for each capital project. It keeps track of operational, administrative and financial activities involved in each project, and automatically transfers the project from Work In Progress to appropriate Property, Plant and Equipment account. It provides tools for efficient monitoring and reporting on each project. The primary functions and tasks include:

Project Journal

  • Project Registration/Update
  • Fund Receipt
  • Contractor Billing
  • Contractor Payment
  • Project Notes/Progress Report
  • Project Monitoring & Appraisals
  • Note that Project accounting is on accrual basis.


Under Periodicals, we provide special tools that automate some standard accrual accounting and basic financial instruments measurements and accounting. They include:

  • Prepaid/Accrued Expense
  • Unearned Earnings
  • Amortized Payments
  • Placements/Fixed Deposit

ExpressBook PSA is an ideal solution for Ministries, Department and Agencies (MDAs) of government, as well as Local Governments, wishing to comply with IPSAS. IPSAS actually requires all these MDAs to prepare their own set of financials outside the consolidated accounts of the central government.