financial management who for academies and multi .manage your finances ... it’s everything you
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Independently accredited accountancy software
Chief Operating Officer or
Finance Director
Business Manageror Director
Bursar or Finance Officer
Who benefits? Financial management for academies and multi-academy trusts
SIMS integrated to save time and reduce errors
Multi-year budget planning
New solution for multi-academy trusts
Simplified academy reporting
Multi-academy solution
Work efficiently
Avoid re-keying and errorsFully integrated
Easy to use
Access anytime, anywhere
Benefits
Manage your finances effectivelyWith school and academy finance growing in complexity, you need a solution to help streamline your financial processes and improve efficiency across your organisation.
Our finance solution is designed specifically to meet the business needs of the education sector - this includes academies, multi-academy trusts and independent, maintained and free schools. SIMS Financial Management is the most comprehensive solution for meeting your financial legal obligations and our FMS accounting software is ICAEW accredited.
Our complete finance solution comprises:
FMS core accounting package
FRS enhanced reporting for FMS
FPS multi-year budgeting for FMS (software provided under partnership with HCSS)
FMS MultiView consolidated tracking and reporting for MATs (software provided under partnership with HCSS)
Working together as a whole solution, it provides you with an integrated double-entry accounting system, enhanced, flexible reporting and online multi-year budget planning. Its everything you need to successfully manage your academys finances.
As well as being a solution for standalone academies, our finance package enables MAT Finance Directors and Officers to have instant online access to consolidated account reports from data entered into FMS. FMS MultiView also provides on-screen indicators and reports of individual academy financial performance.
In FMS, the entire process from requisition to payment can be electronic, eliminating the need for paper-trails or storage and saving academies considerable time and money. Attach electronic invoices and supplier documents to save office storage, and import supplier catalogues to streamline purchasing from preferred suppliers.
With 80% of your expenditure related to staffing, you need to be sure you have accurate and up-to-date information. FMS is the only accounting application that pulls through contractual information held in SIMS to generate salary projections without the need to re-enter and update contracts in the finance system.
Our solution is fully integrated for maximising cost and time saving. Its also integrated with SIMS to reduce manual financial errors and save time.
After converting to academy those that used FMS as a school will be familiar with the software so there is no need to re-train. The extra functionality required for academies is also very intuitive - however, training courses are available.
The finance solution is very flexible. Whether youd like to continue using FMS on a server, have remote access to allow staff to work from home or would like FMS hosted online its your choice - Capita, your LA or your IT provider can help you.
Accruals accounting
Manage your budget
Monitoring and reporting
EFA & statutory reporting
NEW FEATURES New reporting engine in
FMS for improved outputs
FMS MultiView for multi-academy trusts
Debit card payments
Enhancements for the paperless office
RELATED PRODUCTS
SIMS PersonnelSIMS AgoraSIMS Dinner MoneyEARNIE Payroll
One of the new FMS academy reports with expandable rows
SIMS FMS is incredibly powerful and we get every report we need from the system. Weknow we can produce all the reports the auditors want, which is one less thing on our to do list. We have no last minute report requests sprung upon us!
Alison Macarthur, School Business Manager, Wigmore School (Academy)
I need the confidence that everything in the system is accurate and up to date. I also do not want to be pulling together lots of different figures to do my external reporting. SIMS FMS was the system we decided was up to the job. In fact, we trialled another system just to be sure and then reverted back to SIMS FMS as it was the most efficient option.Valerie Haffey,Business Manager, Ryvers School and Nursery (Academy)
SIMS FMS gives us the top-line view we need to monitor each individual academys spending centrally. This means I can quickly alert headteachers when they are getting close to a budget ceiling, meaning that they keep within their budgets and we keep a tight ship.Sarah Usher,Finance Manager, Diamond Learning Trust Partnership (MAT)
FMS is a full double-entry, accruals-based accounting package. It supports two-stage period close, recurring and reversing journals and asset management automatically accounts for depreciation. FMS allows the customer flexibility for the Chart of Accounts, either transferring an existing structure that you are familiar with or designing an entirely new one to be imported.
FPS allows academies and MATs to model and explore future multi-year budgets. It integrates with FMS to import staff contracts and staffing commitments. After looking at an unlimited number of scenarios, the chosen academy budget can be transferred into FMS to become the operational budget for the coming financial year.
There is a range of standard reports and the ability to create your own making it easier to manage your day-to-day activities.
The FMS solution includes key reports such as Budget Forecast and Summary Trial Balance enabling Finance Directors and Accountants to prepare EFA Budget Forecast, EFA Accounts Return and statutory accounts for Companies House. The system maintains a detailed audit record satisfying auditor requirements.
Over 1,800academies use FMS, making it the most popular academy finance package.
Capita SIMS, Franklin Court, Priory Business Park, Cardington, Bedford MK44 3JZTel 01234 838080 | Fax 01234 832036 | Email info@capita-sims.co.uk | www.capita-sims.co.uk
Registered office 71 Victoria Street, Westminister, London SQ1H 0XA | Registered in England No. 2299747. Part of Capita plc.
Want to know more about finance for academies?
SIMS 5148 V3 06/14
Telephone: 0800 170 1722
Email: info@capita-sims.co.uk
Web: www.capita-sims.co.uk/academyfinance
Follow us @CapitaSIMS
FMS Accruals accounting package
FRS Enhanced reporting for FMS
FPSMulti-year budgeting for FMS
New FMS MultiView Multi-academy trust
solution for FMS
Double-entry, comprehensive audit trail
Supports multiple bank accounts
Accruals and pre-payments Supplier and delivery
management Fund management and
reporting Asset management and
depreciation Cash flow management and
reporting General, purchase and sales
ledgers Trade electronically
Send POs as PDFs Store invoices and
supporting docs Create and import
supplier catalogues BACS payment Comprehensive range of
finance reports User define reports View reports on-screen,
printed or output to Excel or PDF
Create, import, update Chart of Accounts
Multi-user (unlimited academy site licence)
Definable user permissions to enable/restrict rights
Integrated with SIMS Personnel (for
contract information) SIMS Dinner Money Earnie payroll system Capita HR & Payroll
Drag n drop columns and ledger codes to build reports
Add/hide nil lines and sub-totals etc
Options for customising report layouts and adding graphs
Save and clone report templates
Add and save notes and annotations for future reference
View reports on-screen, printed or output to Excel or PDF
Current and planned expenditure is transferred from FMS
Salary information is transferred from SIMS Personnel
Explore an unlimited number of future budget scenarios
Plan multi-year budgets up to 5 years
Chosen budget is transferred into FMS.
View reports on-screen, printed or output to Excel or PDF
Financial account consolidation for multiple academies
Individual Chart of Account mapping to global structure
On screen status of period close per academy
On screen indicators of each academys financial performance
Standard and user defined finance reports
Multi-user (unlimited MAT licence)
View reports on-screen, printed or output to Excel or PDF
Academies can select the finance modules that best suit their needs. The SIMS finance solution includes: