Revenue Accounting

Flexible options for definition of district revenue accounts

  • Revenue accounts and sub-accounts are district-defined
  • Additional revenue account components can be defined by Fund; the order that defined budget components are displayed in the full revenue account and the delimiters that are used to separate components are district-defined
  • Revenue account “picture” can vary by Fund
  • For funds where project accounting must be maintained, a sub-fund component of up to 7-characters is incorporated to assure that all revenues are accounted for by project

Real-time balances are maintained for estimated and actual revenue that can be displayed on demand. Revenue transactions are maintained for all financial activity within the system that affects these amounts, to provide a complete audit trail to substantiate current balances. All journals and item processing forms dealing with revenue-related General Ledger accounts require that a subsidiary revenue account be entered, and the subsidiary balances are automatically updated when the item is posted.

Revenue transaction form is provided to allow for easy entry of revenue transfers and adjustments. For transfers, system makes sure that all of the adjustments balance to zero. For adjustments to estimated revenue, the system allows for both the estimated revenues and any corresponding adjustments to the budget appropriations to be entered simultaneously. All transfer and adjustment can be annotated.

District revenue account balances for estimated and actual revenue can be automatically summarized by state account codes for generation of state financial reports; generates export to electronically update revenue related entries for the NYS Data Entry Assistant (DEA). District accounts are automatically mapped to state accounts through district revenue code tables that are established during system setup and are used to validate the account components.

User security options to restrict access to specific revenue accounts and the type of transactions that can be maintained by individual users.

Accounts with no financial activity during a fiscal year can be deleted. Accounts with activity that will no longer be used can be inactivated. Inactivated accounts do not rollover to the next fiscal year, so obsolete accounts are automatically deleted.

For BOCES and other service agencies, revenue subsidiary is maintained by user-defined services. Routines are available to maintain service contracts by customer; contracts can serve as the basis for estimated revenue and as the basis for the billing for these services.

A variety of standard reports are available to assist users with management of the district revenues. Detailed activity and account history reports are available to provide audit trails and transaction history for specific accounts.

Integrated industry-standard report-writer, Crystal Reports®, with data dictionary to facilitate the use of system-maintained information as needed; integration with Microsoft Office®.