iSAMS integration a financial boost for International Schools
AccountsIQ is a cloud-based accounting solution that expands to include business intelligence, analytics and ebanking. It performs well for any school, but its consolidation feature makes it particularly powerful for organisations with a group structure of any sort, including multi-currency groups. The software is designed as a common platform for accountants and clients to manage and benchmark multiple organisations. What the company does particularly well is integration with leading industry-standard software – in fact third-party application integration has been a vital factor in its success.
With international schools and academies within multi-academy trusts among its clients, the company was keen to explore iSAMS integration, and we welcomed the chance to make complex accounting easier for school clients.
The advantages of an accountsIQ/iSAMS integration are clear. AccountsIQ is compliant with SORP requirements – vital for schools with charitable status – and manages the dual responsibility that academies have to SORP and the Company Act 2006. It handles consolidated accounts for groups of schools easily; you can add a new school at any time. Its cloud-based SaaS model fits our own, and gives school bursars and external accountants shared real-time access. By drawing its pupil, parent and school data from iSAMS, fee billing becomes straightforward; a seamless two-way flow between the two tools. AccountsIQ also has a parent/child capability which makes it easy to manage tuition invoices paid by multiple parties.
The accounting software’s functionality – much like iSAMS’ own – can be increased in modules. As well as compliance and consolidated accounts, it offers risk management and assurance, grant and budget management, key performance indicators, advanced reporting and analytics through intuitive dashboards, procurement and more.
Our partnership means more than just a dynamic link that guarantees changes made in iSAMS automatically update accountsIQ, and vice versa. Together we promise continuing support and updates for users, which future-proofs both MIS and the financial flow that keeps a school running smoothly.