Academic ERP Fiscal Management
As one university president remarked in a Chronicle of Higher Education feature on funding, "There was a time when we got it without asking. Those days are over."
Clearly, it's a new day bringing new challenges for colleges and universities. Never before has the ability to access up-to-date, accurate, real-time financial information been more essential or important.
Fiscal Management solution provides tight integration with many off-the-shelf accounting systems, offering choice along with sophisticated integrated features to ensure your institution’s fiscal management runs smoothly.
OVERVIEW: CAMS Enterprise and Microsoft Dynamics GP Accounting Software — a winning team.
Maintaining financial health today requires a sophisticated, easy-to-use system. CAMS Enterprise is tightly integrated with Dynamics GP software based on Microsoft SQL, making advanced integrated features available to our clients.
Microsoft Dynamics GP is authentic accounting software designed by accountants to comply fully with the laws and provide the most features anywhere. Considered No. 1 in the industry, Dynamics GP offers a strong set of accounting modules to ensure your institution's fiscal health.
Features include flexible chart of accounts, easy reporting and drill down capabilities to identify problems. Throughout the years, CAMS Enterprise™ has made life easier for business-office personnel and auditors by providing full integration with accounting packages like Microsoft Dynamics GP.
See below for a brief description of each module along with the list of features. Other accounting software is also available — we give you the choice.
CAMS Enterprise General Ledger serves as the heart of your accounting activities — controlling the flow of account information on the front end and reports construction on the back end.
It builds upon a flexible system of transaction entries. General Ledger is easily tailored to your institutional requirements and allows you to:
- Define your own flexible account structure up to 20 characters long and up to six segments of up to six digits in length. Another 20 characters for a total of 40 characters can be added with an option pack.
- Define up to 54 fiscal periods a year and maintain two open years at a time (You are not forced to close periods or years).
- Create an unlimited number of financial accounts to track current budget and historical balances.
- Establish and track statistical accounts for non-financial data, such as allocation by department of rent/square foot.
- Track unlimited budgets and unlimited years of history.
- Drill down to find originating entries that make up account balances or view an invoice for verification.
- Create a visual audit trail.
- See on-line notes, accounting procedures and account instructions.
- Support different account structures for multiple institutions' batch or individual posting.
- Post dates by transaction date or batch date.
- See online inquiries on account period summary information for current, history and net change balances.
- Create user-definable work environments.
- Perform and create online "to-do" lists.
CAMS Enterprise Student Billing is our billing and accounts receivable solution.
CAMS Enterprise provides additional functionality with optional, separate, non-student receivables. For example, some institutions may have a print shop that sells to the public. The ability to control receivables is at the heart of your institution's economic stability with these types of features:
- An unlimited number of addresses for "bill to" and "statement" addresses for each customer.
- Quick entry of new customer records by "class" association.
- Globally change all customers in a class by changing "class" data.
- Online notes for customer and transaction record
- Automatic calculation of average days to pay.
- Ability to designate posting accounts per customer gives with flexibility to post to G/L.
- History options customized per customer: calendar period, fiscal period, transaction and distribution history.
- Group customers in statement cycles.
- Place accounts on "hold."
- Establish individual credit limits.
- At time of cash receipts, quickly match payment to invoice.
- Automatic calculation of sales tax.
- Record, track and charge checks returned for non-sufficient funds.
- Easily void invoices while maintaining audit trail.
- Choose from predefined statements, modify or design your own.
- Automatically calculate discounts.
- Support account aging and finance-charge assessment.
From creating vouchers to cutting checks and reporting on vendor performance,
CAMS Enterprise Payables Management module works for your institution.
Detailed information on vendors, credit summaries and transactions can be accessed quickly and reliably. Consider these specifics. You can:
- Assign each vendor can have an unlimited number of addresses, which can be added or deleted anytime.
- Track vendors, manage vouchers, process payments and analyze vendor performance.
- Quickly enter new vendor records by "class" association.
- Globally change all vendors in a class simply by changing "class" data.
- Enjoy true customization of each vendor record thanks to user-defined fields.
- Attach notes to vendor and transaction records.
- Automatically calculate number of days to pay a particular vendor, giving you valuable information for negotiating terms.
- Ability to designate posting accounts per vendor gives you flexibility to post to G/L as you wish.
- Place holds on vendor accounts and payments.
- View history options that include calendar period, fiscal information, and distribution history.
- Create and track temporary vendors.
- Create one-time and recurring transactions.
- Save time by easily applying credit memos and returns to other documents at time of entry.
- Print checks at the time you enter a voucher for immediate payment.
- Calculate taxes automatically.
- Record manually written checks.
- Customize check runs.
- Void payments automatically while creating correcting entries for posting to G/L.
- Access quick inquiry windows for vendor summary, credit summary, fiscal and calendar periods, transaction information and payable status summary.
- Sort reports by calendar year or fiscal year and vendor totals.
- Print aged trial balances and historical aged trial balances.
- Customize reports by specifying date range on trial balances.
- Analyze current and future cash flow needs.
Fast, accurate and efficient processing of payroll helps your institution operate efficiently and securely.
CAMS Enterprise Payroll Module calculates salary, pension and EIC amounts effortlessly, using shared data from other areas of the accounting program when available. With Payroll Module you can:
- Keep financial statements up-to-date by posting payroll transaction information to G/L.
- Have unlimited pay codes, deductions, benefits and local taxes.
- Quickly enter new employee records by "class" association such as job type.
- Enter a change once to modify information for an entire class. If desired, the change can be rolled down to all employees in the class.
- Attach notes to employee and transaction records.
- Set up pay, deduction, benefit and local tax codes for an entire company.
- Record information specific to your business in employee records via user-defined fields.
- Assign individual employees multiple pay records per pay type.
- Have unlimited defined pay codes to allow editing of monthly, quarterly and yearly financial information for reports and W-2 statements.
- Automatically record, track and subtract advance pay from employee's next check.
- Record accountable and non-accountable business expenses to be included on W-2 statements if desired.
- Enjoy complete flexibility when sheltering deductions from taxes so deductions such as 401(k) plans are calculated properly.
- Show accrued vacation and sick time automatically either as flat number of hours each period or as a calculation based on number of hours worked.
Efficient bank reconciliation saves you time and money. CAMS Enterprise Bank Reconciliation provides unsurpassed access to vital information, making your data a powerful tool. You’ll be perfectly positioned for rapid growth. Consider the following, which are just a few of the features this module delivers:
Consider the following, which are just a few of the features this module delivers:
- Transaction Sorting - Sort transactions by type or date, which allows you to match your bank statement layout for quick reconciliation.
- Reconcile - When the reconciliation totals match, simply press the reconcile button and the program does the rest for you. All files are updated and posted to the G/L, and your reports will contain the latest information.
- Drill down in greater detail - Get detailed information about deposits, checks and more, all without interrupting your reconciliation process.
- Flexibility to deal with exceptions on the fly - Handle cleared amount adjustments quickly and easily without having to make a separate transaction.
- Seamless integration - Bank-related information flows from module to module, so you have to enter information only once.
- Bank reconciliation inquiries - Get instant answers to bank related questions while viewing reconciled and unreconciled transactions immediately.
- Reporting - Create a suite of reports that present the information you need in the pest format for your business.
From a simple, one-time order to complex, multi-item, multi-site purchases, CAMS Enterprise Purchase Order module automates all processes. You tailor purchase and receipt numbers to fit your institution; related information flows from all other parts of the accounting system.
Tracking and "drill down" capabilities make answers to your most important purchasing questions automatic. You can:
- Drop ship orders — Items can be shipped directly to customer by the vendor.
- Change saved purchase orders — Purchase orders can be easily adjusted allowing for preliminary orders.
- Place multi-site orders.
- Track status of purchase orders.
- Automated purchase order generation can create purchase orders in response to quantity shortages.
- Track bill of lading.
- Assign pre-approved purchase levels.
Gain full and accurate control over inventory from a public address system in the athletic department to individual stock at the bookstore. Items are easy to enter, value and track. Effective tools for inventory control minimize shortages and overrides. As with all accounting modules, you have powerful report capabilities that print inventory checklists helping you evaluate turnover and stock sizes.
Here are just a few of the several options this module offers:
- Item classes used to create template records make entering items fast and easy.
- User-defined categories allow you to track and analyze information unique to you.
- Item numbers are flexible and allow you to keep the tracking system already in place or define a brand new system.
- Serial and lot numbers allow you to keep meticulous control of your inventory and help you improve customer service.
- Item vendors help you track all the pertinent information for each item ordered from every vendor.
- Quantity types allow you to obtain status on items at any time.