Finance
Everything you need to know about fee management, expense management, invoicing, and basic accounting operations.
Expenses
Tip
For proper management of expenses, it is needful to create categories of expenses for easy grouping of all expenses.
How to create a category for expenses
Follow the steps below to create an expense category:
- Step 1: Log in to the school portal and navigate to the Finance section of the main menu
- Step 2: Click Expenses
- Step 3: Click Category (A sub-menu of Expenses)
- Step 4: Click the CREATE CATEGORY button at the top right corner
- Step 5: Fill in all required fields
- Step 6: Click Save
Note
- Fill in a category (e.g. bills, utilities, maintenance & repairs, toiletries, miscellaneous, etc) in the Title field
- Click Reference Account to see the list of Banks the school uses, and then choose the bank account into which every expense associated with the category should be recorded.
- Click ADD MORE to add other categories of expenses
Tip
Edit or Delete if there is a need to make any adjustments or corrections. However, understand that a created category can only be deleted if it has no entry recorded against it.
How to Create Expense Tags
Follow the steps below to create expense tags:
- Step 1: Click Tags, a submenu under Expenses
- Step 2: Click the ADD TAG button at the top right corner of the page
- Step 3: Fill in all the fields
- Step 4: Click Save
Click ADD MORE to input more entries.
Tip
Edit or Delete if there is a need to make any adjustments or corrections. Note that a created tag can only be deleted if no entry is recorded against it.
Note
Expense Tags allow for more informal expense sub-grouping. All Tags entries will be used to associate all expenses based on similarities or any other marker the school chooses to use. The goal is to make it simple to track expenses that have similar details. Tags, on the other hand, are optional. The distinction between Category and Tags is that Category groups all expenses using formal or universal terms (e.g. utilities, bills, miscellaneous, etc.), whereas Tags uses informal sub-groupings or sub-categories for expenses based on the choice, more akin to labels.
How to View an Expense Account
Follow the steps below to view an expense account:
- Step 1: Click Expenses Account (a sub-menu under Expenses)
- Step 2: Click LINK CATEGORY on each bank to see the categories of expenses linked to it
How to Keep Track of and Manage Your Expenses
Follow the steps below record expenses:
- Step 1: Log in to the school portal and navigate to the Expenses section of the main menu.
- Step 2: Click Manage Expense (A sub-menu under Expenses). Manage Expense gives you access to the list of categories of expenses
- Step 3: Click the MANAGE EXPENSE button attached to any of the categories
- Step 4: Click the ADD EXPENSE button in the top right corner
- Step 5: Fill in all the *required fields. (Note that fields tagged *required cannot be left empty, except for the ones tagged *optional). Click ADD MORE if you need to make more entries.
- Step 6: Click Save
Click the SWITCH CALENDAR button in the top right corner to choose the year and month of your interest).
How to View an Expense Report
Follow the steps below to view an expense report:
- Step 1: Log in to the school portal and navigate to Finance section on the main
- Step 2: Click Expenses, a sub-menu of Finance
- Step 3: Click Report, sub-menu of Expenses. (Report gives access to a monthly or yearly record of all expenses)
- Step 4: Click View report under each expense to see more detailed and monthly information on that expense or category of expense
Click the SELECT CALENDAR button to choose the year of interest.