Presentation on theme: "Finance Workshop: 1 st Quarter / 2013 18 February 2013."— Presentation transcript:
Finance Workshop: 1 st Quarter / February 2013
Agenda Principal Primary New functions: Debit orders Debtor notes Project receipts Effective finance office Where is this leading?
Debit orders Why Debit Orders? You are in control of your debtor’s cheque book! Average of 6% bad debts vs. 19% for traditional methods Our partner in the process:
Debit orders (continued) Current tariff structure and process: From 4.40 – R9.00 / transaction 14 day “Retainers” – makes reconciliation difficult External programmes must be used New tariff structure and process: Principal Primary/Stratcol -> R125 / month+ R3.25 per transaction 100 Debit orders - >R4.50 per transaction 200 Debit orders -> R3.87 per transaction The “hou-op-sukkel” way!
New Principal Primary methdod: More effective with direct integration Rejections and non-payments is 100% automated. SMS notices: Evening before (included in costs) With non-payment (optional) ACB as well as NAEDO* *NAEDO is a debit order method that pulse a bank account for a certain number of days. When funds become available, the school will receive payment.‘ Demonstration Future process: 1. Complete Stratcol contract document 2. Return to Stratcol - 3. Send copy to Principal Primary- Debit orders (continued)
Debtor Notes Per Family and Accountable Person Communication method Type notes: Text notes Promise to pay Integration with SMS system Integration with receipts Tasks: Promise to pay for the next couple of days Promises that was not honoured Future: Note can be printed on statement Link “Promise to Pay” directly to the debtors account Hand-over and Debtor Collection System Demonstration
Project Receipts Who paid and Who not? Automatic reconciliation of all learners that were linked on a project. Determine Total Project Budget Links for: Learners Grade Register classes Simple reporting Demonstration
Effective Finance Office Help with reconciliation and financial year- end of your previous financial statements Salary service IRP5 Reconciliation Your tax form!
Where is this leading? Constant development “Browser independence” Tablet / smart phone Processes redevelopment for better technology (e.g. 6 steps of Negotiations to minimise processes and paperwork between schools and departments Next Financial Reporting improvements: Inventory system(End April 2013) Creditor / Purchase management system (End April 2013) Debtor collections (Deployment in 2014) Effective Help Desk / Support Currently 4 people Please send to help desk instead of calling Better Management Tools Principal Primary Audit Tool™ ppSCOA™ en SFPA™
Principal Primary Audit Tool™ For auditors and Financial Administrators Microsoft Excel ® Tool for identifying audit risks and handling of queries Improved audit planning and value adding for your school Real-time information Demonstration
ppSCOA™ en SFPA™ Standard Chart of Accounts School Financial Performance Analysis Automated Management Reports Measure your school against your own industry standard e.g. Primary schools in Gauteng LSEN Schools With / and without boarding A Part of this project will be done in conjunction with FEDSAS Proposed implementation date is July 2013
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