Financial management in education

Gain better control of financial management in education, along with reporting and regulatory compliance for your school, district, or university.

Prepare financial statements, and meet accounting policies.

Track payables and payroll.

Manage grants.

Monitor encumbrances.

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Overview

Financial management in education

Schools and universities are under increasing pressure to fund more with less. For many academic organizations, revenue sources are declining, but reporting requirements are increasing. Using disconnected payroll, grants management, tuition billing, and other financial systems that require mastery of different tools and applications can introduce unnecessary obstacles to effective financial management in education.

A financial management solution helps you streamline accounting and payroll, automate reporting, stay compliant with local, state, and federal requirements, and improve grant management. Microsoft financial management solutions are based on Microsoft Dynamics GP, which works with and like the familiar Microsoft Office applications that many of your employees use every day.

Microsoft financial management solutions can free up staff time by streamlining functions, including:

Core financials.
Fund accounting.
Accounts payable and receivable.
Grants management.

Simplify financial tasks

A Microsoft financial management solution can help you:

Ease the pain of regulatory compliance and financial reporting. Make it easier to prepare accurate financial statements, help ensure compliance with GASB 34, and maintain a detailed chart of accounts.
Master payroll and human resources challenges. Track employee contract start and end dates, and manage a variety of compensation packages consistently and efficiently with a flexible payroll management solution.
Perform interfund accounting with ease and accuracy. Reduce the challenges that come with transferring balances across accounts, including the increased chance of error and the staff time spent juggling manual entry and reconciliation processes.
Save time and meet reporting requirements with control account management. Manage payables and control accounts by segments, saving valuable time and gaining a detailed picture of your finances that lets you meet demanding reporting requirements.
Ensure best budget utilization with encumbrance management. Keep your focus on using budgets effectively, rather than on tracking expenses and repeatedly checking to see whether you’ve exceeded limits. With Microsoft Dynamics GP encumbrance management features, you can proactively manage and adhere to budgets, streamline period-end reporting, and monitor encumbrances from any point in time.
Track and manage commitments. Track online purchase requisitions as commitments with Microsoft Dynamics GP requisition management functionality. Web-based capabilities give you the flexibility to tighten budget controls without halting purchase order processes.
Manage grants. Microsoft Dynamics GP grant management functionality lets you track the usage of grant funding and grant costs. And it can help ensure compliance with specific guidelines and regulations, improving your ability to qualify for additional grant funding.