How to Ensure The Most Accurate GASB Reporting

Do you know what is really going on with your school’s activity funds?

With the first reporting deadline for GASB Statement No. 84 upon us, many districts already have a solution in place to collect the data that they need. Is it the most efficient system? Maybe it is or maybe it isn’t, but either way, how confident are you in the accuracy of that data? Let’s consider that the original data is often input by in-school staff who you likely have little oversight of and then all the reports are build.

1. We take the accounting out of accounting.

In-school staff do not usually have an accounting or finance background. They need a solution they can understand. Learning a new solution is difficult but learning a new solution with all the theory behind it is even more difficult and increases the likelihood of unintentional errors.

2. More control at the district level.

You need to be able to manage each campus from your district office. With School Cash, you will have the visibility to see transactions in real time at the click of a button.

3. Data entry controls – Posted transactions to the ledger immediately.

Whether entered by one of your in-school staff or transacted online ensure that every transaction, even complicated NSF fees and refunds, hit your books properly. Data entry controls ensure that reporting is accurate, including ensuring neither debits or credits are inflated.

4. Umbrella Accounts – Gives you the comprehensive reporting you need.

Allow your accounts to be classified groups related to your Chart of Accounts. Have high level reporting, object codes or transaction codes to record transactions by specific revenue or expense classifications.