Effectively monitoring spending is at the heart of good financial practice, and for schools it can make all the difference between success and struggle.
Budget spending is restricted according to staff permissions. If budgets are exceeded, finance staff can opt to block the requisition, create a warning or ignore it, depending on the context. When a requisition is within limits, it is automatically approved – if not, the request is passed to the relevant staff member for approval.
An approved Requisition, or request to spend money, is termed a Requirement. Within the Accounts system, Requirements can be met from items already held in stock or from new Purchase Orders. When Requirements from multiple Requisitions can be combined, the school is often able to take advantage of bulk order discounts savings on delivery charges.
Engage Accounts allows your school to establish rigorous financial monitoring and processes, providing the essential insights necessary for confident financial planning and strategic development.
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