Academy Accounts Format

With our Academy Accounts Format, you could save as much as a day per set of statutory accounts, versus accounts prepared manually in either Microsoft Excel or Word. As the year-end for academies is 31 August and the filing deadline is 31 December, there is limited time to prepare and file the accounts. Therefore, the efficiency and automation of accounts production software that is up-to-date with the latest regulatory changes can save valuable time and relieve pressure on busy accounts departments.

Academy Accounts Formats have the look and feel of a normal company set of accounts, but have additional disclosures that relate to the charity and trust part of the academy structure.

The following Academy reports are provided:

Academies - academy only SOFA Blank report Lead Schedules
Academies - consolidated accounts Category Summary - Balance Lead Schedules - Group
Academies accounts Journals Report Trial Balance

BENEFITS OF ACADEMY ACCOUNTS FORMAT


  • Save time by using our automated trial balance import. Accounts codes are created dynamically based on the client trial balance and can then be assigned directly to report categories.
  • If adjustments are subsequently made the differences are highlighted on re-import to reduce risk.
  • Our current released template is based on the latest Accounts Direction published in May 2014 by the EFA.
  • For peace of mind our template uses the model ‘Coketown’ standards to ensure final account reports adhere to the currently accepted standards.
  • The academies accounts software will automatically switch on Disclosure Notes as necessary via conditions based on the imported trial balance data. For flexibility, users with the necessary permissions can manually override these conditions.
  • The SOFA is fully automated by data imported from the trial balance. It is split into 3 columns; Unrestricted Funds, Restricted General Funds and Restricted Fixed Asset Funds, followed by totals for current and prior year.

Statement of Financial Activities split between fund types

Multiple Schools Breakdown Supported in the GAG Note

  • Academy funding notes are populated via dialogs with the ability to split grants between funds. A reconciliation warning appears if the note does not agree to trial balance data.
  • Full reconciliation and error checking on tables to ensure accuracy.
  • Rapid and seamless updating via our template manager to keep formats up-to-date.
  • Fully editable user friendly reports using our state of the art reporting system.
  • Governors’ report pre populated with standard wording from ‘Coketown’. All standard wording is fully editable. Hyperlinks to text boxes for other academy specific disclosures which will appear in the report if populated.
  • Microsoft Word document import where necessary (maintaining a consistency of look and feel by using harmonising styles with existing report). This allows the user to save time if a Governors’ Report has been supplied by the client.

NEXT STEPS

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Academy Accounts Format
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