Accounting Software for Schools

Our Accounting Software for Schools is complete Accounting Software for Schools that meets all of a school’s accounting requirements as set by the Ministry of Education and the Audit Unit guidelines. The software covers the management of the School Fund Account, FSE Operations Account, FSE Tuition Account, School Projects, Account and Payroll Management.

This Accounting Software for Schools, whose TradeMark is ABMIS, short for School Accounting System is the most popular among the many products in our suite of School Management Systems.

Our Accounting Software for Schools performs the following functions which are analyzed further in more detail below.

  • Receiving all incomes and Issuing Official Receipts
  • Spreading Amounts to vote heads automatically
  • Processing Payments and Printing of payment vouchers
  • Management of Imprests and Imprest registers
  • Fees management and issuance of fees statements
  • Issuance of fees proforma / Fees reminders
  • Daily collections reporting and analysis
  • Vote head analysis and summaries
  • Student Balances
  • Fees register
  • Commitment registers
  • Cash book receipts posting and printing
  • Cash payments posting and printing
  • Bank Deposits and withdrawals analysis
  • Payroll, Pay slips, Payroll Accounts and Bank letters, recoveries
  • General Ledger
  • Trial Balances for each of the accounts
  • Cheque registers.
  • Income and Expenditure
  • Balance Sheet
  • Notes to the accounts

School Accounts/Voteheads

This is an interface in our Accounting Software for Schools allows the user to key into the system the chargeable voteheads as per the cashbook. It also allows the user to add new vote heads into the system when and as the need arises and also enter budget estimates.

Fees Structure

This is another interface in our Accounting Software for Schools that is used for setting the required fees payments per class as set out in the fees structure. It allows the user to enter the required amount per votehead in each of the three terms. The system has an inbuilt facility that checks the correctness of the amounts entered into the fees structure interface allowing the user to easily ascertain that the structure is accurate before proceeding.

Admission

This is where students’ details are entered into the Accounting Software for Schools. Once a student is admitted into the system, the system automatically allocates them a fees structure as was set in (2.) above. Each student is allocated a unique Admission Number sequentially which becomes their identity in the system.

Receipting

Our Accounting Software for Schools contains a receipting form. This forms the receipt side of the cashbook. The system contains two interfaces through which receipting is done i.e. one for the students’ fees as per the set fees structure and the other for receipting all other incomes.

The following reports are produced as a result of receipting the students’ fees and are updated in real time after every transaction.

Official Receipts

After the system automatically spreads money into the voteheads, it produces an official receipt for each transaction, both an original and a duplicate copy. The receipt indicates the name of the clerk and their signature for authenticity.

Fees Balances

From the fees structure, our Accounting Software for Schools automatically maintains fees balances for the students. Once a student makes a payment, the system adjusts their balances and in case the amount paid is in excess of the total annual outstanding balance, it sets the excess amount aside as a prepayment for the following year

The system produces balances for each class and stream per term and per year. It has an inbuilt query system that allows the user to produce balances to suit various specific needs e.g students with fees balances exceeding a certain amount say KSh 10,000.

The system further produces balances per votehead for each student and also aggregates the same to produce total balances per votehead per class.

At the end of the year, the balance outstanding for each student is carried forward as arrears to the following year. The system is capable of maintaining in its database arrears of all students who have cleared the fourth form.

Fees Reminders

In addition to class fees balances, our Accounting Software for Schools also produces individual fees reminder notes that are given to parents indicating how much they owe the school when the balance should be cleared and the bank accounts where they are supposed to deposit fees.

Fees Statements

This is a statement indicating the manner in which a student has been paying fees throughout the year and the balance that is currently outstanding. The statement indicates fees payment details such as the date of payment, the receipt number, the amount paid and the mode of payment (deposit slip, cheque, money order etc.

Fees Register

The fees register is a very important document maintained in our Accounting Software for Schools that records how all students have been paying fees throughout the year and how those amounts were spread in respective voteheads to arrive at their balances per votehead.

Cheques and Money Order Register

The cheques and money order register the records all the cheques and money orders received in the school indicating details such as from whom received, the date received, the cheque/money order number and the name of the receiving officer.

Payments

This forms the payments side of the cashbook. The interface is used to record all payments being made by the school for all goods and services to its suppliers.

Local Purchase Order (LPO)

This interface allows the user to process LPOs to suppliers who have been awarded tenders for the supply of goods and services. These LPOs are printed and signed before being dispatched to suppliers.

Invoices

Our Accounting Software for Schools requires the user to enter details of the school’s suppliers for all goods and services.

Once an invoice is received, this interface allows the user to record the description of goods supplied, the amount and the chargeable votehead. The system then enters this supplier to the list of creditors and automatically commits that amount to the respective votehead.

Payment Vouchers

During payment, our Accounting Software for Schools has an interface that allows the user to select from a list of creditors the supplier being paid. The system produces a payment voucher containing the name of the supplier, amount paid and the votehead/ voteheads charged.

The system’s generated voucher is then signed by the bursar or finance officer, who prepared it, attached with its respective supporting documents and taken to the principal for authorization before a cheque/cash is disbursed.

The supplier also signs the voucher as evidence for receipt of payment.

Creditors Statements

Our Accounting Software for Schools has the ability to produce a creditor statement showing the amount a supplier has supplied during the year, how much has been paid to them and the balance owed by the school.

Commitment Register

This shows the total amount committed to each votehead totalling to the amount the school owes to its creditors at any particular time.

Imprest Register

This feature is used to record all petty cash given out for the purchase of items needed in the school.

Once the imprest holder accounts for the imprest using receipts of items purchased, the system clears the imprest and raises a voucher for those items. The system is able to produce a list of all accounted for and unaccounted for imprests at any given time.

Bankings

Our Accounting Software for Schools has a bankings interface that serves two major purposes:

Cash to Bank – All monies received in the system are posted in the cash column of the receipt side of the cashbook. The system allows the user to effect cash to bank transactions for cash, cheques and money orders once the actual banking has taken place and a banking slip received for the same.

The purpose is to effect a contra entry from the cash column of the payments side to the bank column of the receipts side in the cashbook.

Cash from Bank – This effects a contra entry from the bank column of the payments side to the cash column of the receipts side in the cashbook following a cash withdrawal from the bank.

The Cashbook

The system maintains an analytical cashbook containing columns for date, receipt number/voucher number, received from/to whom paid, cash, bank, total and a spread of all voteheads. This is where all receipts, payments and contra entries are recorded in the system.

Cashbook Receipts

The receipts side of the cashbook records all monies received and spreads the amount to the receiving votehead. At the close of every month, it aggregates the amounts received in each votehead and automatically transfers the totals to the credit side of the ledgers for that month.

Cashbook Payments

The payments side of the cashbook records all monies paid out and spreads the amount to the chargeable votehead. At the close of every month, it aggregates the amounts paid out in each votehead and automatically transfers the totals to the debit side of the ledgers for that month.

Closing Balances

At the close of every month, the system automatically balances the cash and bank columns of the cashbook to arrive at balances carried down for cash and bank. These balances are automatically transferred to the trial balance for that month.

The Ledgers

Our Accounting Software for Schools creates this document to automatically prepare the trial balance. The ledger contains three columns: month, debit and credit. The monthly totals of voteheads from the receipts and payments side of the cashbook are posted in the credit and debit columns respectively and in their respective months. Each month has a balance brought forward from the previous month, which is then aggregated with the total from the cashbook to arrive at the balance to be carried forward to the following month.

The balance carried forward for each month in both the credit and the debit side of the ledger is automatically transferred to the credit and debit column of the trial balance for that month. In the ledgers, each votehead is assigned its own separate page showing all balances for the months throughout the year.

The Trial Balance

The trial balance displays the opening balances of cash and bank as brought forward from the previous year’s cashbook balances carried forward. The closing balances for the month are derived from the month’s balances carried forward from the cashbook.

The sum of debit and credit columns is always equal making the system trial balance to be balancing at all times.

Though the trial balance is prepared monthly in the manual method of accounting, the system is able to show an up to date trial balance throughout the month since it is updated in real time after every transaction.

Our Accounting Software for Schools’ trial balance consists of these seven columns:

Accounts/Voteheads – This column lists all the voteheads subdividing them into Expenditure, Revenue, Funded Accounts, Clearing Accounts and Others.

Ledger/Folio number – This column contains the reference number of each votehead in the ledger.

Budget – This column displays the budgetary estimates the school anticipates to receive/spend in the voteheads as projected by the budgetary committee.

Debit – The debit balance carried forward for each votehead from the ledger is posted in this column.

Credit – The credit balance carried forward for each votehead from the ledger is posted in this column.

Commitment – This shows the commitment balance for each votehead from the commitment register. This column is also updated automatically when invoices are received/creditors are paid.

Balance – The system automatically calculates votehead balances and updates the trial balance. For revenue voteheads, balance is the difference between the budget and the credit column whereas, for expenditure voteheads, balance is the difference between the budget and the sum of debit and commitment.

Income and Expenditure

Our Accounting Software for Schools internally maintains its own adjusted trial balance. For all income and expenditure voteheads, the debit and credit balances at the end of year trial balance are aggregated with the student fees balances per votehead to form the income side and creditor balances to form the expenditure side respectively. Fees prepayments per votehead are treated as creditors.

The difference between income and expenditure produces either a surplus (positive) or a deficit (negative) which is added up to the accumulated fund in the balance sheet.

All these processes take place automatically independent of any user intervention.

The Balance Sheet

The system balance sheet builds up from the previous year’s balance sheet balances. It comprises of liabilities and assets sides whose balances are equal. It also displays the previous year’s balance sheet balances.

Our Accounting Software for Schools prepares and displays notes to the balance sheet for the following items:

Liabilities

Normally consists of:

  1. Accumulated Fund
  2. Funded Accounts
  3. Sundry Creditors
  4. Clearing Accounts

Assets

Normally consists of:

  1. Investments
  2. Cash and Bank Balances
  3. Sundry Debtors
  4. Overdrawn Accounts

Our Accounting Software for Schools’ balance sheet contains spaces to be signed by the school bursar, the principal and the chairman to the board of management.

Distinct Operational Advantages of our Accounting Software for Schools

  • Time-saving – Fees collection is input into the Accounting Software for Schools once, thereby eliminating duplications of input and saving on time.
  • Inbuilt controls – the software has inbuilt controls to ensure data integrity. These include checks for access, editing, existence checks, matching transactions to master files, etc.
  • Accuracy – the Accounting Software for Schools is highly accurate as it has inbuilt checks and balances which automatically check for data accuracy and prevent human errors.
  • Timely information – once data is input into the system, all processing is done automatically thereby providing timely information as and when needed eg student balances
  • Completeness of processing of accounting data- the software covers all the major areas of accounting information processing ensuring completeness of processing.
  • Backups – the software has an inbuilt back-up system, which will ensure rapid reconstruction in case of system failure together with retention of copies of documents sent for processing
  • Data retrieval – Data can be retrieved very quickly using inbuilt user-friendly menus. Special reports can also be generated according to specific needs eg fees reminders
  • Data Redundancy – this is eliminated, as data is stored only in one location.
  • Efficiency – the software is user-friendly and easy to grasp, understand and use which also makes it very efficient in information processing.
  • Relevance – As the software is developed with user specifications, it ensures only relevant operations and information is provided.
  • Flexibility – Our Accounting Software for Schools can easily be modified to accommodate future changes and unforeseen contingencies.