cloud accounting software for education · accountsiq’s cloud accounting and consolidation...
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www.accountsIQ.com
Cloud accountingsoftware for Education
Thinking of moving to the Cloud?accountsIQ has partnered with iSAMS and IRIS to bring yousmarter cloud accounting for schools.
The accountsIQ, iSAMS and IRIS partnershipprovides a unique Cloud accounting solution ideal for schools and colleges. Based on the Software as a Service (SaaS) model, the integrated fee billing, payroll and accounts systems help to eliminateunnecessary duplication of work and costlymistakes by offering a seamless three-waysynchronisation of data, maximising efficienciesat an affordable cost.
While iSAMS handles the complicated billingstructures and generates the invoices, accountsIQ manages the accounts and balances. Iris’ Earniesoftware offers the flexibility of defining paymentsand deductions for specific business needs andis a comprehensive management tool for Payroll.
All the systems are dynamically linked so that changes to data stored in one system, willautomatically update in the other systems.
accountsIQ’s Cloud accounting and consolidation software transforms the way schools manage their finances. Built in 2005 for the Cloud, accountsIQ has over 20,000 users worldwide ranging from smallbusinesses to some of the largest accountancy practices in the world. With clients in over 42 countries using 32 different currencies, it is a unique and multi-functional accounting system and offers enhanced business analytics and performance measurement.
Ideal accounting and admin system for education.
Leading online Management Information System.
iSAMS is trusted by over 650 schools across 40+ differentcountries who use iSAMS every day. The single database andsuite of integrated portals and apps offer bespoke managementof all academic, pastoral and administrative information.
The Earnie payroll system is intuitive and easy to use, with acomprehensive reporting library offering easy access to all theinformation a school would require.Earnie Payroll - for easy
payroll management
With accountsIQ andiSAMS you can:
• Automatically synchronise data for fee payers between the two systems.
• Create deferred income rules within iSAMS, which are recognised in accountsIQ’s accounting journals.
• Generate invoices in iSAMS, which are automatically passed to your accountsIQ accounting system with a definable Parent/ Child billing capability. This allows multiple fee payers to be assigned to any single child in both systems.
• Receive funds in the accountsIQ accounting system and have balances updated in your iSAMS Management Information System.
With iSAMS and Earnie:
• Automatically create payroll records in Earnie once an employee record has been confirmed in iSAMS HR, negating the need for double entry of data.
• The schools HR Department will manage the recruitment process and once an employee record has been created in iSAMS the Finance Team will be notified of a new record created in Earnie Payroll.
• Static information such as name and contact details will be maintained in iSAMS and automatically updated in Earnie.
• The sensitive financial data will exist and be managed in Earnie.
With accountsIQ and Earnie:
• Feed payroll payments automatically from Earnie to accountsIQ.
• Automatically transfer payroll by General Ledger and analysis or cost centre from Earnie and accountsIQ.
• Billing integration enables auto set up of new accounts.
• Automatic transfer of billing by pupil and by fee type.
• Automatic collection of fees by batch direct debit.
A complete,integrated solution.The accountsIQ, iSAMS and Earnie partnership offers schools a best-in-class, Cloud-based solution. This one-stop-shop for your system needs, with only the relevant data integrated, gives you the perfect seamless solution.
All the integrations occur in real-time and are instantaneous, meaningusers simply have to click a button to send data between the systems.The integrations are fully hosted and are supported on an ongoing basis.
Independent Schools• Fully integrated accounting and MIS (iSAMS)• Workflow and budget-holder approval processes• Enhanced reporting capabilities with interactive dashboards• User profiling and enhanced risk control• Collaborative workflow process
International Schools• Multi-currency accounting• Centralised control of FX revaluation rates• On-line access from anywhere in the world• Localisation capabilities for foreign jurisdictions• Currently used in 42 different countries around the world
Academies and MATs• Consolidation for Multi Academy Trusts• Scalable system so you only pay for the schools on the system• SORP reporting compliance• Enhanced reporting on a Group and Sub-Group basis• Separation of funds and income/expenditure recognition
Some of ourother integrations.
The ideal solutionfor theEducation sector
Earnie payrollmanagementUsing Earnie you will easily be able to manage your payroll so your employees are paid quickly and simply. Pensions are made simpler with automatic processing of teachers pensions and it integrates with the IRIS AE Suite to provide a comprehensive auto enrolment solution.
Fitting together to provide the perfect accounting, payroll and MIS solution.
iSAMS fee billingand MIS systemiSAMS highly flexible Fee Billing module allowsyou to generate bills, adding charges to specific applicants, current pupils and alumni in a number of different ways.
These can be posted quickly and simply asindividuals or by batch - such as year, house,or form - using the module’s search tools. Youcan assign single or multiple charges using adrop-down menu and also set up rules for feeallocation, which are useful for automaticallyassigning large groups i.e. boarders in your school. The iSAMS comprehensive billing system letsyou assign an unlimited number of payers to anindividual pupil. These bills can be spilt intocategories such as fees, disbursements orexams where rules can be organised bypercentage or in fixed amounts to suit.
The Charge View section shows all postingsmade in a billing cycle, which can then bedisplayed in Excel, Word and PDF and output as required. There is a four-stage invoice production process for checking all details are correct before generating an invoice. When complete, bills can be posted on the iSAMS Parent Portal. You also have the benefit of being able to look at any postings through the extensive charges history section or running numerous reports.
A visual ‘traffic lighting’ system allows you tokeep track of every aspect of a pupil’s postings with the ability to add notes as required. Invoices feed directly into accountsIQ’s Sales Ledger,eliminating any duplication of work and data entry.
accountsIQaccounting systemOnce iSAMS has generated invoices, these areautomatically passed over to accountsIQ and attributed to the relevant fee payers. You can then manage the accounts using the unique accountsIQ Cloud accounting platform.
Manage customer balancesIntuitive and functional, the accountsIQ software allows finance users to efficiently managecustomer balances. You can quickly and easily search for customers with outstanding balancesor overdue invoices. You can also create and save your own custom filters, which allows you to repeat common searches with up-to-date information.
Bank reconciliationaccountsIQ includes a Bank Reconciliation feature, which allows you to easily allocate funds received against outstanding balances. All updatedbalances are immediately fed back to the iSAMS MIS system. It is a simple process to generatecustomer statements and balances, which can be sent to fee payers individually or in batches.
Extensive reporting Added to this is the extensive reporting capability of the system, which allows finance users to see detailed reports using real-time data. accountsIQ’s reporting is fully-interactive and allows you todrill down to transaction level and producecustomised analysis which can be easily exportedto Word, PDF or Excel.
Workflow approvalUsing accountsIQ’s Workflow Approval process, Purchase Orders and Purchase Invoices canbe automatically sent for approval before theyare posted to the accounting system, savingprecious time. You can specify as many layersof approval as you like. Budget-holders find iteasy to manage spend using accountsIQ’sBudget-holder’s Dashboard.
