Financial Accounting for Schools
Fee collection is revenue in. Financial accounting is everything else: expenses, vendor payments, ledgers, and budgets, so the school's full financial picture lives in one system.
1 system
for fee revenue and school expenses together
What it does
Income and expense ledgers
Record all school expenses, from vendor payments to utility bills, alongside fee revenue, for a complete picture of the school's finances.
Vendor and payment tracking
Track vendor invoices, payment status, and due dates in one place, instead of a mix of physical files and spreadsheets.
Budget vs actual tracking by department
Set an annual budget per department or category, and see actual spend against it throughout the year, not just at audit time.
Audit-ready reports
Generate income and expenditure statements, trial balances, and ledger reports in formats your auditor and management committee expect.
How it works
Set up income and expense categories
Define categories for revenue (fees, other income) and expenses (salaries, utilities, maintenance, vendors) that match how your school's books are organized.
Record transactions as they happen
Fee collections flow in automatically from Fee Management. Expenses and vendor payments are entered by the accounts team as they occur.
Review reports any time
Generate ledgers, budget comparisons, and income-expenditure statements for any period, without waiting for a manual month-end compilation.
Frequently asked questions
Does this replace our existing accounting software?
For many schools, yes, since fee revenue is already in ChalkPis. Schools with more complex accounting needs can continue using Tally alongside ChalkPis, with the two kept in sync.
Can we export data to Tally?
Yes. ChalkPis integrates with Tally so financial data can be exported or synced, useful for schools whose chartered accountant works directly in Tally.
Can different people have different levels of access to financial data?
Yes. Access is role-based. Correspondents and trustees see full financial data. Accounts staff see what's relevant to their day-to-day work, and other staff see none of it by default.
Can we track budgets separately for each department?
Yes. Set a budget per department or cost center and track actual spend against it throughout the year, with alerts as a category approaches its limit.
Related features
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