Student Activity Fund Accounting
Highlights of Major Functions and Features
MAINTENANCE FILES
General Ledger Account Maintenance
Set up all your GL Accounts quickly and easily.
Account mask can have up to 25 characters and 9 segments.
Accounts may be alphanumeric.
Unlimited number of accounts.
Advisor/staff name field.
Provides for income and expense budgets for each account.
Two user-defined fields per account.
Optional cross-reference for district account numbers expedite exports.
Inactive account flag.
Shows actual and encumbered balance, all transaction detail, encumbrance detail.
Vendor Maintenance
Set up Vendors so you can enter invoices and pay bills.
Alphanumeric vendor code.
Vendor reference number — for printing on checks.
Shows calendar and fiscal year-to-date payments.
Displays 1099 information — Tax ID number and 1099 box number.
Allows for temporary vendors and inactive vendors.
Shows check detail, open invoices, open purchase orders.
Enter new Vendors on-the-fly in PO Entry, Invoice Entry, Manual Check Entry.
Bank Account Maintenance
Identify a Bank Code for each of your cash accounts.
GL Print Group Maintenance
The purpose of GL Print Groups is to allow the user to create sub-categories or groupings of accounts to be printed on financial statements. GL Print Groups are GL Account-specific. A GL Account number may only be assigned to ONE GL Print Group at a time.
Category Maintenance
The purpose of the Categories in general is to allow the user to mark individual transactions with a code that can be used for reporting later on. Category Codes are NOT GL Account-specific. They are transaction specific. The purpose of Category Maintenance is to give you a place to set up codes for all the things you want to track. For example, let’s assume you want to track equipment purchases. At the end of the year, you want a report showing all the equipment you bought during the year, regardless of which account it was charged to. If you set up a Category called “EQUIPMENT,” you can assign that code to each individual appropriate transaction. Then at the end of the year, you can run the Category Transaction Report for EQUIPMENT and see how much you spent on equipment. You can enter an unlimited number of Category Codes.
PURCHASE ORDERS, INVOICES, AND CHECKS
Purchase Orders
Use Purchase Order Entry to enter existing purchase orders or to enter information for the printing of new purchase orders. You can either enter information about purchase orders that you have typed or printed yourself using another system (Manual Purchase Orders), or you can let SchoolBooks® print your purchase orders for you (Computer Purchase Orders).
Supports Standard PO, Blanket PO and Multi-Vendor (pay multiple vendors from ONE purchase order) PO types.
PO Line Types can be Amount, Item (for specific item numbers) and Comment lines.
Allows for separate Ship-To Addresses.
Once entered, POs show in Vendor Maintenance, on Encumbrance Report, on Account Analysis Summary Report with Encumbrances.
Reports: Open PO Report, Purchase Order History Report.
Program tracks changes to original PO
PO data automatically flows to Invoice Entry when invoice is received.
Invoice Entry (also for Check Requests)
Enter all invoices, check requests, and other bills you want to pay with a SchoolBooks check into Invoice Entry. You may either automatically load information from an existing purchase order or enter invoices that have no purchase order.
Invoice Line Types can be Amount or Item (for specific item numbers).
Once entered, invoices show in Vendor Maintenance, on Encumbrance Report, on Account Analysis Summary Report with Encumbrances.
Reports: Open Invoice Report, Computer Check Edit Report Purchase Order History Report.
Put invoices on Hold at any time to prevent them from being paid.
Allows you to enter an out-of-balance invoice, but will NOT allow you to pay it until it’s in balance.
Computer Check Printing
The Computer Check Selection screen allows you to view all the open invoices in SchoolBooks. You can place invoices on hold and see any invoices that may be out of balance. You can choose to print a single check or a batch of checks.
Easy-to-format check forms and checks print on almost any check stock.
Print checks in Vendor number order or Voucher number order.
Allows for voiding checks in case of printer malfunctions.
Manual/Void Check Entry
Enter manual and void checks into SchoolBooks through this screen. Manual checks are checks you have written on the typewriter or handwritten — they were not printed through SchoolBooks, so the system knows nothing about them. Also use this screen to enter void checks into the system.
Allows for entry of Vendors on-the-fly.
Allows for entry of invoices and check requests.
Allows for voiding checks previously issued and original voids.
RECEIPTS AND BANK DEPOSITS
Receipt Entry and Printing
In Receipt Entry, you can enter Manual receipts for receipts that have been handwritten or generated outside of SchoolBooks. You can also enter receipt information and have SchoolBooks print a Computer receipt (using your report printer) on either blank paper or a pre-printed form. SchoolBooks allows you to enter the information about your receipts, print a Receipt Journal, and then automatically create a Bank Deposit for all the money you have received.
Distribute each receipt to multiple GL accounts.
On request, the Receipt Journal automatically writes data to Bank Deposit Entry.
Bank Deposits
Use Bank Deposit Entry to enter information about the bank deposits that you make to your bank accounts. The deposit amount will be posted to the selected bank account and the Bank Reconciliation file and detail amounts will be posted to the GL accounts indicated.
Allocate each deposit to an unlimited number of accounts — each with its own description.
Program allows for entry of out-of-balance deposit, but will not update until it is in balance.
TRANSFERS AND ADJUSTMENTS
Most transactions in SchoolBooks involve either cash coming into the system through bank deposits or cash going out of the system through checks. But occasionally something gets put in the wrong place and has to be moved. Or an expense happens that doesn’t involve a check — like bank fees. There are several types of adjusting and transfer entries:
Adjustments: These are entries that involve a cash account. These are transactions for bank charges, check printing fees, NSF fees, corrections for incorrect deposit amounts, etc. In other words, all these transactions affect an actual bank account and a GL account.
Transfers: These are transactions where money is moved between two GL accounts, but the bank doesn’t know about it or care. An example of a transfer would be moving $100 from the French Club to the Girls Softball account.
Multi-Line Transfers: These are transactions where amounts are moved between multiple accounts. For example, you might want to move a $1000 gift from the Class of 2004 and allocate it $500 to Spanish Club, $250 to Pep Squad, and $250 to Camera Club.
Cash Transfers: These are transfers between two cash accounts. If you write a check from your checking account to a CD account, that’s a Cash Transfer. Or if you make a telephone transfer between accounts, that’s a Cash Transfer too.
PERIOD END PROCESSING
Bank Reconciliation
Bank Reconciliation Wizard allows you to balance your bank statement to your books. The system displays current balances for cleared checks and deposits on the screen as you clear the items shown on your bank statement and the numbers turn GREEN when you balance! Even if you have never balanced a bank statement before, you will find that you can balance quickly and easily. Our Multiple School Bank reconciliation feature even allows you to reconcile one checking account used for several schools.
Month End Processing
Removes purchase order records which have been completely received from the open purchase order file. Purchase order history transactions are not removed.
Removes Temporary Vendors with no open records from the Vendor Maintenance file. Data is still saved in check history files.
Removes paid invoices from the Open Invoice file. Data on paid invoices is saved in the Check History files.
Afterwards, SchoolBooks will not allow you to enter transactions in any of the Entry screens with a date prior to the month-end date you have selected. This protects you from making entries in months that have already been closed.
Year End Processing
This process closes out your books at the end of the year.
SchoolBooks calculates the net profit or loss from the Income and Expense accounts, zeroes out those accounts, and posts that net amount to the Due to Student Body account.
All detailed transactions for the current year are cleared. SchoolBooks changes all existing balances into Opening Balances for the next year. SchoolBooks changes the beginning and ending fiscal dates in School Data to the next year.
1099 Processing
SchoolBooks allows you to use your Vendor data to print 1099 forms or to prepare your 1099 information for electronic filing with the IRS. You can even combine data from several schools and consolidate the data to produce one big batch of 1099s. Note that when you are using 1099 Processing, you can be working with multiple schools at the same time.
GENERAL SYSTEM FEATURES
USER CODES AND SYSTEM SECURITY
In User Code Maintenance, you can set up user codes with passwords - one for each person who uses your system. SchoolBooks keeps track of which user makes each transaction and when. Then you can grant or deny access to each item on the menu using a simple checkbox screen.
PRIOR YEAR DATA
This utility allows you to copy the data from your current year school to another school so you can save it forever and ever. You can copy your school for 2003-04 to a new school so you can keep all the data for last year in case we ever want to go back to check something.
THREE STEP UPDATE PROCESS
SchoolBooks uses a three-step process to update any transaction to the general ledger. These steps can be described as Entry, Journal and Update. This process ensures that you can check and, if necessary, correct your work BEFORE it gets updated. This means fewer errors get past you the first time! Let’s assume you enter a bank deposit in Bank Deposit Entry.
Note: Purchase Orders and Invoices are NOT posted to the general ledger and are NOT updated in this way. This Three Step Update Process applies to everything else on the Entry Menu with the exception of Purchase Orders and Invoices.
Think of each entry screen as a bucket. You put transactions into the bucket and they stay there, happy as can be, until you print a journal and say “Yes” to update. So, these are the steps to enter a bank deposit:
| 1 |
Entry |
Go to Bank Deposit Entry and enter your deposit or edit a deposit already entered but not yet updated. |
| 2 |
Journal |
Print the Bank Deposit Journal to a printer. Check it over to make sure it is correct. (If you only Preview, you won’t be asked to Update.) |
| 3 |
Update |
When SchoolBooks asks you if the data printed correctly and if you want to update, answer “Yes.” Each journal and every transaction is assigned a number during this process. |
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TOOLS FOR THE AUDITOR
Master Audit Report: Every entry that is updated in SchoolBooks is marked with a date/time stamp (when the update actually happened) as well as the User Code of the person doing the update. The Master Audit Report allows you to view transactions by User, by transaction date, or by GL Account number.
Audit Selection Report: Auditors can select a date range to audit and then indicate what percentage of each type of record they want to examine. The program will randomly select the specified number of transactions, which can be printed on the Audit Selection Report for followup.
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