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Below is everything SBS Online customers need to know about the new Academy Chart of Accounts (ACOA).
Following on from our previous blog, our developers have been working hard to introduce a fourth reporting option for the new Academy Chart of Accounts which our customers can soon utilise.
As is the custom with SBS Online, you will be able to use this reporting option either:
- On its own
- With GAG
- With CFR
- With Custom
- Or all at the same time.
The new Academy Chart of Accounts is optional, and academies can map their existing chart of accounts to the new structure if they prefer, providing there is enough detail.
How can this be implemented in SBS Online?
Method 1 – We’ll rebuild your planner
If you choose to completely adopt the new Academy Chart of Accounts, this will require your planner to be rebuilt, with your current budget all remapped to the new Budget Codes. The SBS Online implementation team will manage this for you, so please get in touch to find out more.
Method 2 – You extend your mapping
However, if your preferred method is to use your current chart of accounts and simply extend your code mapping, you can complete this yourself by enabling the new Academy Chart of Accounts in your Budget Settings and editing your Budget Codes to map to this new financial reporting structure.
SBS Online customers will be receiving an email in the near future to reinforce how this change could affect them and how we can assist.
If you have any questions about the above, please get in touch! Phone the Service Desk on 0345 222 1551 • Option 8, or email email@example.com.
We provide regular updates for schools and MATs looking to improve their budgeting practices – please follow @school_budgets to keep up to date with our team.