School fund software for the administration of school income and expenditure accounts
Managing school funds is a time consuming and often frustrating exercise. Historically, schools used either a manual ledger book or a simple excel spreadsheet to account for tens of thousands of pounds worth of income and expenditure.
FundsMaster enables the appropriate member of staff to record all income and expenditure and maintain bank reconciliation records. A comprehensive suite of management reports and full audit trail are standard.
FundsMaster 3 can now import data from ParentMail.
Find out about the latest version and its new features v.3.1.0 >>
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FAQs from our current users
1. Q: I have un-presented cheques from a previous financial year in FundsMaster and they are now out of date, what can I do?
A: This is a 2 step process. Because the original cheque shows money coming out of your bank account, you need to show it coming back in since it was never cashed. Step 1: Select Cash Bank > Receipts - add a receipt for the same amount as the cheque and put a note in the note field to say 'Un-presented Cheque'. Step 2: Select Bank Reconciliation > Reconcile Bank - Reconcile both the original cheque and the receipt you've just added. This will have the effect of cancelling out the original cheque.
2. Q: I have un-presented cheques from the current financial year in FundsMaster and they are now out of date, what can I do?
A: Select Cash Bank > Payments Select the required payment from the list and click the delete button. The payment is presented on screen for viewing prior to deletion. Note that no changes can be made at this point. To complete the deletion a reason must be entered in the appropriate box and the Save/OK button clicked. You will be asked to confirm the deletion.
3. Q: How do I un-reconcile a cheque/receipt which I have already reconciled?
A: Select Bank Reconciliation > Reconcile Bank. Choose 'All Transactions' from the popup menu and click OK. On the next screen locate the relevant receipt or payment and remove the tick from the 'Reconciled' box then click Save/OK.
4. Q: Where do I find my serial number?
A: The Serial Number for the software can be found on your CD and begins with the letters CS.
5. Q: Can I backup my FundsMaster data to CD?
A: It is not possible to backup your data directly to CD from FundsMaster. You can, however, backup to USB drives, floppy disk, external hard drives or a folder on your computer.
6. Q: I've just made a backup of my data but when I try to open the files to see the data I get errors, what am I doing wrong?
A: Opening your USB drive and double clicking any of the files (e.g. Ledger.DBF) will NOT allow you to view the backup as database files do not work in the same way as Word or Excel files. Unless you receive any error messages when making a backup you can safely assume that it has worked correctly.
7. Q: I have just installed FundsMaster 3, what password do I use to login to the software?
A: There is no password set when you first install FundsMaster, therefore leave the password box empty and click the Save/OK button to enter the software. To create a password select Setup > Change Passwords.
8. Q: I've forgotten my password, what do I do?
A: Either email firstname.lastname@example.org or call 0845 345 1002 for assistance.
9. Q: How do I delete a fund I no longer need?
A: If a fund has no transactions it can be deleted by choosing Setup >Funds. Select the fund from the list and click the delete button. If the fund has transactions the only way to delete it is to make it inactive and when the end of year routine is carried out the fund will be deleted and any remaining balance will be transferred to the School Fund.
10. Q: I click on the printer Icon and my report prints immediately, how do I preview the report first?
A: Select Setup > Change Parameters. Tick the box labelled 'Preview reports before printing'.
11. Q: When I view my funds on screen - Setup > Funds - some of the funds are in grey and also do not appear in the fund popup when adding receipts or payments. Why is this?
A: These represent funds which have been made inactive. Inactive funds are funds you no longer require in the current financial year. If you have made a fund inactive by mistake you can re-activate it by choosing Setup > Funds, select the fund you require and click the Edit button. Remove the tick from the inactive tick box and click Save/OK.