Managing School Budgets, Funding & Billing with Sage 200 for Education

Sage 200 for Education is a powerful financial management solution for the education sector. The solution allows schools and academies to manage all aspects of their income and expenditure - from budgets, to staff payroll, to reporting and billing schedules. Sage 200 for Education is perfect for standalone schools or large multi-academy trusts and provides users with a cloud-based, off the shelf, scalable solution that is continually developed for ease of use. How Will Sage 200 for Education Support Your School/Academy? Although Sage 200 for Education comes with a wealth of useful tools, some of the software’s stand out features include fund management and budgeting capabilities. Here are 4 ways Sage 200 for Education will help you manage your school/academy’s finances: School and Academy Fund Management If you need to organise, control and manage funds within your school or academy, Sage 200 for Education is the software for you. Within Sage 200 for Education, income and expenses are managed against a fund, allowing cash flow to be accurately tracked. Using the software, users can easily report on where expenses have occurred and how well funds are being managed. Sage 200 for Education also allows users to create nominal accounts, which can be segregated based on where funds need to be spent. This allows schools to oversee when, where, and how much funding is being allocated to different departments or key stages, which in turn can aid in minimising over-and under-distributing funds. Users can also see yearly performance with ease, making year-end reporting quick and easy. Tight control on future expenditure can also be achieved as Sage for Education features budget control capabilities for up to 5 years. Managing School Budgets Managing school budgets can also be done stress-free using Sage 200 for Education. The software offers users complete budget control by allowing them to assign budgets to allocated groups. This can include the school as a whole, an allocated budget holder, or to specific school departments or key stages. Budget limits can also be capped for these assigned groups to keep tight control over expenditure. Alerts can be set for these limits so owners can see their outgoings in real-time, ensuring overspends do not occur. All budgets can be set for the current year and for up to five years in the future, allowing schools and academies to accurately plan ahead. Billing Within Education Sage 200 for Education also provides users with the ability to easily access all upcoming direct debits, standing orders and other additional bills/payments. Whether you need to monitor incoming payments from parents/guardians, or oversee your outgoings to employees/suppliers, Sage 200 for Education allows you to track all billing information. Managing your school or academy’s cashflow has never been easier with reports for upcoming payments and outstanding debts also accessible through Sage 200 for Education. SOFA Reporting Capabilities for Academies Particularly useful for academies, Sage 200 for Education also features SOFA (Statement Of Financial Activity) reporting categories. Once you’ve linked SOFA categories with your nominal accounts, you’ll have access to a SOFA report that includes figures from any nominal accounts with cost centre (fund) and SOFA category. Custom SOFA categories can also be added in necessary. The UK Government requires all academies to complete the SOFA report each year and Sage 200 for Education makes it much easier to do this. Why Choose Sage 200 for Education? We’ve mentioned some features of Sage 200 for Education above, here’s an overview of the business benefits that the software offers: Save time with automated reports Easily analyse large amounts of data Setup is quick and easy Dedicated support from Sage experts Save money on hardware and infrastructure Monthly payment options Access data anytime, anywhere with web access Want to Speak to a Sage for Education Specialist? If you’d like to find out more on how to manage your school’s/academy’s finances using Sage 200 for Education, please email sales@onesys.co.uk, or call us on 01423 330335. We also offer software solutions for other industries, including manufacturing and professional services. To speak to us about these products, please visit our contact page here: https://www.onesys.co.uk/contact-us/.

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