What accounting packages are supported by Solutions and Services?
We support Xero and MUSAC Financial Manager. After careful review of on-line accounting packages, we selected Xero as the most suitable for schools – in conjunction with our own Xero add-on Monty. Solutions and Services is a Xero platinum partner and provides implementation, training, and financial services. Monty has been developed by us for school budgeting and reporting and is a separate online package designed to make school accounting easier.
How long can we continue to use MUSAC Financial Manager?
MUSAC has not signaled any end date for schools to use the Financial Manager Accounts and Asset packages. The accounts package was specifically designed for NZ schools and has great search and reporting functions, making it very suitable for schools. As long as a school can continue to have Financial Manager installed on a local fileserver, or remote server, we see schools continuing to choose this package. Contact us on (03) 331 6210 if you have any further queries.
Which Xero version is needed by NZ schools and why do we need Monty?
To manage school accounts in-house, to save time and provide full monthly reporting we recommend that schools need the standard Xero plan. The current pricing is $744 per annum (GST exclusive). This fee equates to only $62 per month. There is no roll related or per user change.
To enable easy entry of a full budget, including balance sheet accounts needed by schools for capital budgets, clusters, equity additions, MOE property project management etc, and to provide easily accessed reporting for Board, Management and budget holder reporting, we created Monty as a Xero add-on. Reporting is quick and the ability to email budget holders so easily has been very well received by school users.
We have reviewed the pricing for Monty to encourage smaller schools and in recognition of the additional development added for larger schools and the server space required. The license fee pricing for Monty ranges from $16.67/month for small schools ($200 per annum + GST) to $81.67/month for larger roll schools with over 2000 students ($980 per annum + GST). Please email us for a proposal.
Professional accounting assistance is still needed for set up and implementation from other systems, and especially at year end with the mandatory Tier 2 level of reporting now required. Solutions and Services provide implementation, support and accounting services.
If our school already uses Xero can we also license Monty from Solutions and Services?
Yes, we do not need to be the support partner for the school. Monty is a Xero add-on and requires very little setup. Specific Xero types for account codes are required but the package is very easy to operate. Training for Monty typically requires less than an hour and is supported by online tip sheets and our team using the remote meeting software TeamViewer 14
The Xero account codes are mapped to Groups for management reporting, and to Categories for the Ministry of Education’s Kiwi Park School format which is mandatory for NZ school annual accounts preparation.
If we want to implement Xero or Monty what is the process?
Contact Sandy Dunn (firstname.lastname@example.org) or Ann Morrison (email@example.com) with details of your school’s current system for a formal quote.
Do we need to change over at the start of the financial year?
No – in fact many schools find that the first term is extra busy and prefer a quieter time (if there is one!) A change to Xero from another accounting system needs to take place at the start of a GST return period.
An existing user can license Monty at any time of the financial year. Setup is very quick. Annual license fees are charged in November for the following financial year with payment due 20 January. For a mid-year implementation the license fee is charged on a pro-rata basis through to 31 December of the current year.
Why should I use batches?
Batches have many uses.
Should I keep my transactions separate in a batch?
If you are using Xero it is most important to keep your cash and cheques in one batch – this equals your banking and the entry on the bank statement which will come thru in Xero. Electronic payments should be kept separate and balance to the bank statement. If you are using Financial Manager, you will still want to keep the above batches separate as it makes it much easier to reconcile at the end of the month.
Help! I have charged the Year 6 Camp at $100 per student. Now the teacher tells me it will only cost $75 per student and they want the students to have a credit.
This can be a huge task for office staff and one we are asked about frequently. Run a billable item report from the Finance List Menu to identify who has paid and who hasn’t paid. Those who have not paid you can now discount the item on the transaction summary page by clicking on the `Discount’ tab beside the Camp entry.
Those who have paid it is a little more complex as you cannot do a part refund. Please phone Solutions and Services for some more indepth help and guidance.
I have made a payment on the wrong student, how can I reverse the payment?
You can reverse a payment by clicking on the X beside the payment received line. A box will appear and you just process the payment.