RSCCC Finance provides an automated method of maintaining the financial records of school districts and assisting districts in controlling district monies in accordance with the Financial Accountability System Resource Guide (FAR). From daily transactions, to ending accounting periods, to closing out a calendar or fiscal year, the Finance application provides the user with the necessary functions.
Basic functions such as accrued payables, encumbering and liquidating purchase orders, posting cash receipts, making journal entries, and monitoring account balances are available. The user can record checks produced manually or print checks using the application. Many financial reports are available, as well as printing on customized forms such as check stock and 1099s. The application also provides a Positive Pay Export feature which can be used in conjunction with your bank to inhibit unauthorized checks from affecting your checking accounts.
The advantages to RSCCC Finance are that the screens within the application follow point-and-click Windows standards and make it easy for the user to enter the exact data required to establish table data, maintain system data, post transactions, reverse transactions, change transaction data, and conduct inquiries.
The Finance application incorporates the many state and federal regulations which apply to financial accounting while allowing each district the flexibility to implement various operational philosophies and methodologies.
Finance Features
Ability to copy funds to historical file at year-end
Ability to "inactivate" an account on the general ledger
Ability to preview and reprint checks
Archiving of multiple years of general ledger accounts and transactions
Automatic assignment of vendor and/or cash receipt numbers
Bank reconciliation that extracts cash receipts and check transactions
Generation of a 1099 Work File for 1099 processing and customization of 1099 forms
Inquiries for PO transactions by vendor and check transactions by vendor
Option to automatically generate benefit accounts with creation of salary account
System-forced balanced journal entries
User-defined bank account groups, cash objects, and investment objects
Validation of total debits and credits by fund on journal entry screen
Finance Reports
Journals/Checks/Detail Ledger Reports
Accounts Payable Listing
Capital Outlay Expenditure
Cash Receipts Journal
Check Payments List
Check Register
Detail Budget Status
Encumbrance Journal
Expenditure and Liquidation Journal
General Journal
General Ledger
YTD Check Payments List
YTD Check Register
Vendor/Purchase Order Reports
Aged Purchase Orders
Outstanding Credit Memo Listing
Outstanding Purchase Orders
Purchase Order History
Vendor Labels
Vendor List
Vendor W9 Reference Listing
1099 Report and 1099-Misc Form
Summary/Miscellaneous Reports
Board
Budget Status Summaries by Organization and Program Intent
