An all-in-one integrated MIS and accounting solution for schools

This unique platform brings together academic, wellbeing, administrative and fee billing elements with a cloud-based accounting system that will help you to eliminate unnecessary duplication of work and reduce costly mistakes.

BI dashboards provide an overview of key information
Create predefined, custom and consolidation reports
Support multi-currency, recurring invoicing, accruals and prepayments
Simply and efficiently amend invoices
Customise your paperless workflow approval process and see the live status of your budget

Developed specifically with the Bursary in mind, bring your academic, wellbeing, administrative and fee billing elements together with a powerful accounting and finance solution.

Powerful Accounting

The iFinance accounting, consolidation and business intelligence features offer your bursary the ability to generate predefined and custom reports, profiled by user. The fully-interactive reporting means you can drill down to transaction level and produce a customised analysis, which can then be exported to Word, PDF or Excel. The Auto-Bank Reconciliation enables you to speed up the allocation process, uploading your bank files and posting transactions in a time efficient manner. Plus, the customisable online workflow approval process will allow your school to adopt a paperless purchase order and invoice environment, allowing your key stakeholders to see a live status of their budget.

 

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Comprehensive Flexible Billing

The iFinance fee billing feature allows your account department to generate bills and add charges in several different ways for specific applicants, current students and alumni. It also enables your bursary to amend invoices and synchronise this data with a sales and nominal ledger. Not only this, but the flexible deferred income functionality removes the need for monthly journals to be calculated and posted. You’ll also be able to use a comprehensive suite of interactive reports for pre and post invoice, historic invoices and ad-hoc reports.

 

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A feature rich platform...

Workflow Approval

With our workflow approval, you’re able to automatically send paperless POs and purchase invoices for approval before they are posted to the accounting system, including options to add customisable layers of approval. You can also save time by creating an auto approval process for reviewing or approving invoices by authorised personnel. Keep your data secure and track each request with a real-time view of the status of approval.

All your company and group assets can now be managed and stored via this single database, without the need to switch between multiple systems. Quickly approve fixed asset POs or invoices through our workflow approval and App. Upload accompanying documents with our document management functionality, schedule dates for maintenance or renewal, and link assets to leases or loans. Plus, manage your assets with automated depreciation journals and fixed asset schedules – with CapEx forecasting offering you greater assistance in your financial planning.

Employees can record expenses and outlay against internal or external projects and managers to approve. Enjoy our easy-to-use Expenses Capture App to add photos of expense items or receipts, submit expenses to line managers, start-stop mileage claims using Google Maps and easily route expenses for client recharge and tag as paid or to be reimbursed – all with ease on your smartphone. Lock fixed expense items to reduce the risk of error and avoid multiple submissions for the same expense claim, whilst integration with the finance ledger ensures expense claims are automatically paid once approved.

Stock Management

Integrate purchasing to automatically track stock levels, so you know how much stock you have available at any one time and when you might need to order more. Integrate with ePOS, shopping cart and CRM systems to avoid the duplication of data across multiple platforms and retain a more holistic view of your finances.

Group Consolidation

Simplify monthly consolidations across each of your designated groups with different subsidiaries, currencies and account structures via a separate SQL database. Plus, you can access these consolidated results in real-time via this single system.

Icon for Workflow Approval

Workflow Approval

Workflow Approval

With our workflow approval, you’re able to automatically send paperless POs and purchase invoices for approval before they are posted to the accounting system, including options to add customisable layers of approval. You can also save time by creating an auto approval process for reviewing or approving invoices by authorised personnel. Keep your data secure and track each request with a real-time view of the status of approval.

Icon for Fixed Asset Register

Fixed Asset Register

All your company and group assets can now be managed and stored via this single database, without the need to switch between multiple systems. Quickly approve fixed asset POs or invoices through our workflow approval and App. Upload accompanying documents with our document management functionality, schedule dates for maintenance or renewal, and link assets to leases or loans. Plus, manage your assets with automated depreciation journals and fixed asset schedules – with CapEx forecasting offering you greater assistance in your financial planning.

Icon for Expenses Capture

Expenses Capture

Employees can record expenses and outlay against internal or external projects and managers to approve. Enjoy our easy-to-use Expenses Capture App to add photos of expense items or receipts, submit expenses to line managers, start-stop mileage claims using Google Maps and easily route expenses for client recharge and tag as paid or to be reimbursed – all with ease on your smartphone. Lock fixed expense items to reduce the risk of error and avoid multiple submissions for the same expense claim, whilst integration with the finance ledger ensures expense claims are automatically paid once approved.

Icon for Stock Management

Stock Management

Stock Management

Integrate purchasing to automatically track stock levels, so you know how much stock you have available at any one time and when you might need to order more. Integrate with ePOS, shopping cart and CRM systems to avoid the duplication of data across multiple platforms and retain a more holistic view of your finances.

Icon for Group Consolidation

Group Consolidation

Group Consolidation

Simplify monthly consolidations across each of your designated groups with different subsidiaries, currencies and account structures via a separate SQL database. Plus, you can access these consolidated results in real-time via this single system.

Key Features

Cloud-based Solution

Accessible from anywhere and on any computer (school or home); a true web-based solution.

Flexible Billing

A flexible and simple module to generate bills and add charges in several different ways.

Powerful Accounting

Comprising of accounting, consolidation and business intelligence with multi-currency support and recurring invoicing, accruals and prepayment capabilities.

Invoice Management

Simple and efficient invoice amendments, with pupil, parent and invoicing data synchronised at the click of a single button.

BI Dashboards

The business intelligence dashboards provide an overview of key information, including a budget-holder’s dashboard, making it easy to manage spend.

Split Billing

A comprehensive split billing system to assign multiple bill payers for an individual bill.

Bank Reconciliation

Auto-bank reconciliation allows you to easily allocate funds and payments against outstanding balances.

Workflow Approval Process

With the workflow approval process, paperless purchase orders and purchase invoices can be automatically sent for approval before they are posted to the accounting system, with customisable layers of approval.

Recurring Charges

Recurring charges allow for a charge to automatically be assigned to future billing cycles. Recurring charges can be assigned a start and end cycle, or be set as a persistent recurring charge

Expenses Capture

Allows employees to record expenses and outlay against internal or external projects and managers to approve.

Consolidation

Consolidate Groups and Entities, with Consolidation Reports generated in just one click.

Fixed Asset Register

A single database to store all your company and group assets.

Stock Management

A distribution module that will add and integrate stock management.

“In times when every penny counts, we have found the analysis tools and management information provided by iFinance to be second to none. This has helped with both day to day operational decisions through to strategic direction at Board level.”

Michael Coles - Bursar, St Edward’s Cheltenham

“When we found out about iFinance we knew we had to give it a go. With our Bursary now able to pull data directly from other areas of iSAMS, our budgeting and financial planning has become even more efficient…”

Simon Lee - Director of Digital Technology, Dubai College