The effective administration and management of budgets is crucial to any school’s success. The Budgets module in Engage Accounts provides staff with complete oversight and control.
Budgets are linked to a hierarchy of staff. Permissions can be set to define who can utilise budgets, spend money, who should authorise and to what level, and who is permitted to raise orders.
Budgets can be entered against any combination of nominal codes (up to 10 digits), cost centres and departments, allowing the system to reflect the unique structure and processes of your school. Codes can be linked to sections, headings or groups for incredibly flexible reporting.
Budget accounts can also be marked as ‘inactive’ where appropriate.
The flexibility of Accounts means that budgets can be set for a department to spend on any nominal code, and can be created with an even spread or by using spread templates. Budgets are simply and easily copied from the previous year, adding a percentage or fixed rise.
Budgets and Commitment Accounting
If a staff member is authorised to raise purchase orders against their budget, commitment Accounting can be used, meaning that as the purchase order is raised, the budget is visibly automatically decreased, preventing overspend.
If an order exceeds the set limit for that staff member, it will require authorisation, which, if denied, will restore the budget figure.
To receive further information or to arrange a demonstration of our school management information system and school accounting software please contact us by completing this form or call us now on +44 1935 40 30 20