QuickBooks accounting software is specially tailor-made for startups schools by simplifying all accounting tasks, curtailing administration time and allowing principals and boards of management to focus on what they do best for the progress of the educational institution. QuickBooks software for education startup can help in recording the income and expenses, easy reconciliation of the bank accounts, monthly reports (profit and loss reports, trial balance reports etc.) QuickBooks software does not require any technical expertise and helps in the management of the funds, stocks, inventory related to the school infrastructure and other requirements. Being pocket-friendly software the startup schools can easily employ the software for seamless functioning of the accounting tasks.
Financial Functionalities of QuickBooks
- Records school receipts into QuickBooks software.
- Manage approved vendor files, prepare vendor checks (that includes codes and payments of approved invoices) using QB software.
- Create and maintain tuition fee collection system using QuickBooks (the tuition management program including billing families, recording payments and deposit preparation).
- Manage tuition and fee schedules.
- Keep up the tuition collection policies and procedures for school with all written and verbal correspondence.
- Prepare payroll checks using Paychex feature.
- Transfer payroll taxes and payroll related items to the appropriate agencies in a timely manner to avoid financial penalties.
- It is accountable for deposit preparation for tuition revenue.
- Frame bank deposits and transmit to the bank.
Track Inventory & Stock
QuickBooks smartly tracks all inventory transactions. It also streamlines the process of requesting, ordering, and tracking supplies and tools and allocating supplies to upcoming work requests for the school activities. Proper inventory management by QB software saves your time and money.
- Manages inventory items by various categories and allows inventory to be issued to a project, person or work order.
- Tracks all material transactions and assigns stock pools to see what is low so you can refill as needed in the future.
- It has the ability for end-users to make online requests and sends email notifications to end-users on an approved basis, denied or on back order.
- Showcases the lists of items that need to be ordered, tracks detailed information and generates detailed reports and graphs individually.
We’re a highly acclaimed QuickBooks Consulting Company offers comprehensive financial management services for startup schools and academies. The company has specifically designed services for schools and academies operating in the ‘owner controlled’ and ‘not for profit’ sector.
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