Bank accounts

School Accounting follows your school's money beyond fee collection. It starts with the accounts your money goes into. Open School Accounting → Bank Accounts. School accounting needs a plan that includes it.

Adding an account

1. Choose the bank from the list, which shows each bank's logo, or name it yourself and upload a logo.
2. Enter the account details.
3. Enter the opening balance: the amount in the account on the day you start using Academium. You can only set it when you create the account.
4. Save.

Add a cash account too, for money collected in cash.

Default accounts

Choose a default deposit account and a default expense account. They are filled in for you on fee payments, income and expenses, so staff do not have to pick an account every time.

Turning an account off

Disable an account you no longer use. Its history is kept.

Where money comes from

You do not have to record fee payments twice. Fee collections, transport and hostel payments, inventory sales and salary payments are all posted to the right account automatically. See Inflow.