Department Of Accounts

Name

Department Of Accounts

Legal name

Virginia Department of Accounts

Website

https://doa.virginia.gov

Company type

Private

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Government Financial Management

SIC

Finance Services (6199)

akta.pro industry

PRIMARYBPAIAEAD

Government Accounting & Financial Reporting

Business & Public Services/Public Sector & Government Administration/Public Finance, Treasury & Procurement

SECONDARYFSAMAKAL

Corporate Treasury & Supplier Payments (AP, Mass Payments)

Financial & Insurance/Payments & Transaction Processing/Payroll & Payouts / Disbursements

Keywords

• Government financial management
• State accounting services
• Public sector payroll
• Financial reporting compliance
• GAAP accounting

Headquarters

HQ city

Richmond

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Others

Distribution channels4 records

Marketing channels4 records

Core offering

The Virginia Department of Accounts is a state government agency that operates a suite of web-based financial management systems and secure portals to provide uniform accounting, financial reporting, payroll processing, fixed asset tracking, lease accounting, and electronic payment services across the Commonwealth of Virginia. Its core function is enforcing Comptroller's Directives, producing GAAP-basis financial reports (including the Annual Comprehensive Financial Report), and managing central payroll, accounts receivable, and EDI/ACH payment operations for state agencies, higher education institutions, localities, and vendors.

Product overview

The Virginia Department of Accounts provides a comprehensive suite of financial management systems and portals serving state agencies, higher education institutions, localities, and vendors. The portfolio includes a unified set of interconnected web-based platforms for core financial operations including accounts receivable management, charge card administration, fixed asset accounting, lease accounting, payroll processing, and electronic payment systems. The systems operate through secure authenticated portals including the Directive Submissions Portal for regulatory compliance reporting, Financial Certification for authorization workflows, and the Cardinal Project for integrated HR/Financial management. These products share common security infrastructure including SSL encryption and COV Okta authentication, and are designed to work together to support the Commonwealth's financial accountability and reporting requirements.

Differentiator

Problem solved

Functional benefit

Products and services

• Accounts Receivable Web-based data entry system for state agencies and institutions to manage and track accounts receivable, submit receivable data, and access user guides and security authorization forms.
• Charge Card Administration (CCA) Online portal for administering Commonwealth of Virginia charge cards across state agencies, providing forms, user guides, and charge card security management.
• Commonwealth Vendor Group Secure portal and enrollment system for vendors doing business with the Commonwealth of Virginia, enabling vendor information management, W-9 form submission, and vendor maintenance requests.
• Directive Submissions Portal Secure web-based portal for state agencies and higher education institutions to submit required Comptroller's Directives financial reporting attachments and compliance documentation.
• Financial Certification Secure portal that enables users to submit and manage financial certifications through authenticated workflows for the Commonwealth's financial reporting processes.
• Fixed Asset Accounting and Control System (FAACS) Online system used across the Commonwealth for tracking and managing fixed assets, capital leases, and equipment, with detailed password and security protocols.
• Lease Accounting System Plus (LAS Plus) Web-based lease accounting system for managing lease agreements across the Commonwealth, secured with SSL and ECC encryption to protect sensitive financial data.
• Payroll Service Bureau Secure portal that processes Commonwealth of Virginia employee payroll for state agencies, using COV Okta account authentication.
• Prompt Payment Web-based system used by state agencies to manage and track prompt payment compliance, including security authorization forms and reporting on payment timeliness.
• Remittance Electronic Data Interchange (REDI) Virginia EDI payment program portal that enables vendors, state agencies, localities, and grantees to receive electronic remittance data and manage their EDI trading partner accounts.
• Subrecipient Monitoring Secure Portal (SMSP) Secure portal that supports monitoring of subrecipients of federal funds, providing compliance oversight capabilities to localities and state agencies.
• EDI/ACH Program Electronic Data Interchange and Automated Clearing House payment program that allows trading partners to enroll and manage ACH payment processing with the Commonwealth.
• Cardinal Project The Commonwealth of Virginia's integrated HR/Payroll and Financial Management system project, providing job aids, course materials, and human capital management capabilities to state agencies.

Quantifiable outcome

• Unmodified audit opinions on GAAP-basis financial reports for every year since 1986

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Scale indicators1 record

Recent moves4 records

Expansion highlights3 records

Direct peers

• Georgia State Accounting Office (SAO): Georgia's statewide accounting office, operating under the State Auditor. Provides uniform accounting systems, statewide financial reporting, and payroll services to Georgia agencies — directly comparable mandate and operating model.
• California State Controller's Office: California's constitutionally chartered statewide accounting and disbursing officer. Operates a comparable suite of statewide financial systems, issues accounting guidance to agencies, and is a direct functional peer for payroll, unclaimed property, and statewide reporting.
• Texas Comptroller of Public Accounts: Texas's statewide accounting and financial reporting agency, directly comparable in mandate to Virginia DOA — produces the state's Comprehensive Annual Financial Report, operates statewide payroll/HR and payment systems, and issues accounting directives to agencies and localities.
• Illinois Office of the Comptroller: Illinois's statewide accounting and reporting office. Performs comparable functions to Virginia DOA: statewide accounting policy, GAAP reporting, and central disbursement authority to state agencies and localities.
• Florida Department of Financial Services: Florida's combined CFO/treasury/state accounting agency. Comparable in delivering centralized financial management, statewide accounting policy, and payment/reporting systems across a large state government.
• Ohio Office of Budget and Management: Ohio's central budget, accounting, and financial reporting authority. Comparable scope in statewide accounting policy, payroll operations, and financial systems administration for a large state government.
• North Carolina Office of the State Controller: North Carolina's statewide accounting and financial reporting office. Operates centralized accounting systems and produces the state's CAFR, closely mirroring Virginia DOA's statutory responsibilities and system portfolio.
• New York State Comptroller: Elected statewide comptroller performing centralized accounting, payroll, and financial reporting for New York State agencies. Closely comparable scope of statewide accounting, internal control oversight, and GAAP reporting.

Broad incumbents

• Pennsylvania Department of the Auditor General: Pennsylvania's independently elected statewide financial oversight body. While its primary function is audit rather than accounting administration, it operates at comparable scale across state and local government financial reporting and provides a relevant structural peer for reporting oversight.
• U.S. Department of the Treasury - Bureau of the Fiscal Service: Federal-level agency administering centralized payment, collections, and accounting services for the U.S. government (including ACH/EDI and CAFR-equivalent reporting). Comparable in function at a much larger scale, relevant for benchmarking systems and policy frameworks.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/department-of-accounts

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Department Of Accounts