# School accounting — Academium SMS

[View the HTML page](https://academium.com.ng/sms/features/school-accounting/)

> Bank accounts, deposit and expense vouchers with charges, double-entry journals, a full transaction log and an audit trail of deleted entries.

School accounting

## Money in. Money out. Nothing lost in between.

Follow your school’s money beyond the fee desk, across every account it moves through.

[Download to get started](https://academium.com.ng/downloads?product=sms) [All SMS features](https://academium.com.ng/sms/features)

Fictional movements from fees, payroll and vouchers in one log.

Accounts

## The accounts your money moves through.

Add each bank account the school uses: pick the bank from the list and its logo comes with it, or name an account yourself and upload one. Give it an opening balance when you create it, and switch an account off when it is closed.

-   **Defaults for deposits and expenses.** Choose the account deposits and expenses go to unless someone picks another.
    

Fictional accounts and balances.

Deposits and expenses

## Every movement has its place.

Record money in or out of an account under a voucher head, such as fuel, supplies or a refund.

-   **Charges taken off as you type.** Stamp duty, bank charges and other charges come off the amount, and the net posted to the account is shown live.
    
-   **Heads that keep their meaning.** A voucher head’s type is fixed once created, and a head already used cannot be removed.
    

A fictional expense: the charge comes off the amount, and the net is shown as you type.

Income or inflow

## Not all money in is money earned.

Heads come in four kinds. Income is money the school earns. Inflow is money that arrives but is not earnings, such as a family wallet top-up, a loan or the owner putting money in. Expenses are what the school spends, and outflow is money leaving that is not spending, such as repaying a loan or a refund. Reports count only income and expenses as earnings and spending.

Example heads of each kind.

Bank charges

## Charges worked out, then reported.

Set up the bank and statutory charges your school pays, each as a fixed amount or a percentage with a minimum and maximum, for deposits, expenses or both, and marked tax deductible if it is. The charges report summarises them by type over any dates, with every charge behind the totals.

Fictional charges by type.

Journal entries

## Adjustments that balance.

Double-entry journals with a date, reference, description and an attachment. Totals add up as you type, and Save stays off until debits equal credits. Mark an entry as adjusting, or set it to reverse itself on a date you choose.

-   **Draft, post, reverse.** A draft can be edited or deleted. A posted entry has moved balances and can only be reversed.
    
-   **Templates for repeat entries.** Save reusable lines and open them pre-filled, ready to adjust.
    

A fictional balanced entry; saving waits until both sides agree.

The full picture

## One log. One audit trail.

Every movement across every account, including those created by fees and payroll, with the running balance.

-   **Deleted, but not forgotten.** Deleted vouchers and reversed fee payments are kept with who did it and why.
    
-   **Accounts with their own logos.** Pick a bank from the list or name an account yourself, with an opening balance on creation.
    

Fictional deletions, each kept with who did it and why.

Reports

## Statements your auditor will ask for.

Account statements, income and expense reports by head, income against expense, a balance sheet and the account log are all under Reports.

The accounting reports in SMS.

FAQs

## School accounting questions

Accounting in SMS.

[Still have a question?](https://academium.com.ng/main/page-contact)

### Do fee payments appear in the accounts?

Yes, when fee collections are linked to accounting. Payroll payments are posted too.

### What if a journal entry was wrong?

A draft can be edited. A posted entry is reversed, so the correction stays traceable.

## Keep your school’s books in Academium SMS.

Download Academium SMS and set up your school, try a demo, or start in free mode.

[Download to get started](https://academium.com.ng/downloads?product=sms) [Explore other features](https://academium.com.ng/sms/features)