One of the key challenges confronting private school managers, proprietor or proprietress is, an unorganized accounting system to keep track its students database while taking into account paid and outstanding tuition fees directly tied to a session to ascertain actual income received and forecast expected income from next sessions plus expense channels and an accurate financial report of the school.
Here are tips to using QuickBooks Accounting Software for your private school record.
Customers List: This feature in QuickBooks tracks all the student record – names and outstanding balances as at when the accounting software set-up is implemented.
Invoice: Create a School Fees or Tuition Fee Bill for all the students at the end or beginning of a session which will generate a report on expected income.
Receipt: Create payment receipt for your school income channels like school fees, lesson fee, swimming, extra curricula activities e.t.c.
Fixed Assets List: You can also track all the school property and items – School Bus, Computers, Printers, Scanners e.t.c. which will be tracked at fixed asset and subject to depreciation if necessary.
Report: You can see a real-time view of income and expense report for your school in QuickBooks Accounting Software.
While this tips may give you an idea of how QuickBooks can work for you, CONNECT with us on 09092942048, 08175420054 or SEND us your request: info@magnetgroupng.com, to help on how we implement QuickBooks for Schools in Nigeria.
