Accounting can be described as a way to assess the financial health of a school.
It is a way of professionally
monitoring and managing the Assets, Liabilities, Cash flow and analysing the Future of a school. It is also a legal
requirement to submit Annual Accounts [comprising of a Balance sheet and Profit & Loss accounts] to the Government.
Statutory reports that need to be submitted
Private Schools charge Fees to provide better teaching services. Schools fees may be accepted annually
or by term. Government schools are usually FREE, as they are funded by the Government.
Besides Fees, Parents may have to separately pay for expenses such as uniform, school-trips, books and a number of
other things that schools offer.
Each authorised person can login and enter details of expenditure to School2016. If approved, the amount due is
creditted for collection
from the school office. Until expenses
are entered and approved, advances given are considered loans. Those not authorised to enter financial transaction must
submit details to the school-office
Assets and Liabilities
Assets and Liabilities are best left to the Accounts staff in the school-office. School2016 will automate any part of
the procedure they wish to.
- School2016 will work with the Accounts Dept and provide the features they want
- Transactions can be entered in Internet PCs and Smart Phones
- Specific reports can be delivered as Emails and Fax to authorised users. For example,
Petty-cash balances can be sent Text every morning
- Text alerts can be automatically sent to Accounts Manager when specified transactions occur
- Controls and checks reduces errors. Users suggest from ledgers and accounting-heads. Every transaction balances
- Document sent as Fax are considered suitable for Legal situations