Flow Chart of Financial Monitoring & Planning in WebSAMS version 2.0

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1 Financial Monitoring & Planning (FMP) School Management School Level and Session to be retrieved from School Management Module School Accounting Information Accounting Year Maintenance Chart of Account Maintenance Voucher Type Maintenance Location Maintenance Budgeting ED Grant Draft Budget (Income and Expenditure) Review Budget Approve / Reverse Budget Revise Budget (Income and Expenditure) Bookkeeping Maintain payment, receipt, petty cash and journal vouchers Cheque Printing Voucher Posting Perform month end Perform year end Bank Reconciliation Staff & Staff Deployment Modules Staff Cost Maintain Staff Master Prepare Payroll and Provident Fund Contributions Maintain Provident Fund Register Generate Employers Tax Return Capital Asset Register Maintain Capital Asset Register Maintain Depreciation Sales & Stock Maintain stock purchase & sales Maintain stock in and stock out details Perform year end

2 Daily Collection Summary Maintain Daily Collection Summary Non-recurr ent Grant Register Maintain Register for Building Maintain Register for Furniture & Equipment

3 School Accounting Information o Define the sub-module(s) to be used and the effective date o Select budget check option if both budgeting and bookkeeping sub-modules are selected Accounting Year Maintenance o Create a new accounting year whenever necessary o Re-open of a closed accounting month is allowed Chart of Account Maintenance o Maintain new sources of fund, ledger codes, sub-ledger codes and account codes o Maintain new programme codes for each new accounting year. Copying by year or by session is allowed o Maintain bank information including cheque format and bank autopay format Voucher Type Maintenance o Define voucher type to be used and select use of auto-generation of voucher number Location Maintenance o Location details is used in Capital Asset Register and Sales & Stock sub-modules to record the location of assets and stock Input grant amount allocated by Education Bureau. In preparing the budget income, the budget amount will check against the grant amount Budget income is prepared at account code level. It can be created by preparing a new budget or by copying from current year s draft budget or from previous year s actual amount or revised budget of one school session to another session Budget expenditure is prepared at programme and account code level. This can be created either by preparing a new budget or by copying from current year s draft budget or from previous year s actual amount or revised budget of one school session to another session Generate budget information for preparing School Plan Maintain payment, receipt, petty cash and journal vouchers. Copying from existing vouchers is allowed. Can select auto-generation of voucher numbers. Can print vouchers of different status, viz draft, unposted and posted If budgeting module is used, activate budget check when a voucher is saved Can select vouchers for posting Can print cheque on ten pre-defined cheque formats. Cheque printing is made on manual cheque provided by the bank Allow to re-open a closed accounting month Before proceeding to Year End Process, perform Pre Year End Process to generate reports for checking. Capture audit adjustments separately in adjustment month Perform Bank Reconciliation Generate Annual Accounts Set up staff master either by retrieving basic staff information from Staff and Staff Deployment Modules or by input in FMP Can prepare monthly payroll with different payment method Can generate three pre-defined format bank autopay files Maintain Provident Fund Register Generate hardcopy and softcopy of Employer s Tax Return (IR56B) to IRD is used to define asset category, asset master and analysis code if necessary Can record purchase of new assets, write-off assets and asset quantity on hand Record location details and responsible officer of assets Transfer of asset from one location to another or from one responsible officer to another is allowed Maintain Depreciation Summary Provide worksheet with breakdown by location or responsible officer for stocktaking is used to define stock category, stock master, analysis code if necessary and costing method of stock Maintain details for purchase and sales of stock and stock balance Profit / loss on stock sales is calculated when pre year process is performed

4 Maintain cash receipts and bank-in details Maintain Non-recurrent Grant Register for buildings and furniture & equipment

5 Accounting period, for example, from September to August or from April to March should be defined for first time user. Once it is confirmed, it cannot be changed. Select Budget check option for income and expenditure items. Different option may be adopted for income and expenditure items All sub-modules are integrated but allow to set sub-module(s) effective at different time Programme will be created for each new accounting year. An administrative programme with programme code WFMP is generated by the system when a new accounting year is created EDB-defined account codes are created and maintained by EDB whilst school defined account codes can be created by schools. Surplus / deficit account codes is 11-byte while the other account codes is 5-byte. The first byte of all account codes indicates the source of fund e.g. G represents Government Fund. A set of EDB-defined and school commonly used codes is preloaded in the system. Budgeting Allow to prepare budget for different sources of fund, for example, Government Fund or School Fund Allow to prepare budget for more than one accounting year, a five year forecast is allowed Reversal of an approved budget is allowed if there is no bookkeeping or revised budget transaction Expenditure budget is prepared at programme and account code level Provide budget information to prepare School Plan Bookkeeping The same set of income and expenditure account code is used for both Budgeting and Bookkeeping sub-modules. Budget and actual amount will be charged to the same account code Activate budget check whenever a voucher is saved if Budgeting sub-module is used Separate function for processing petty cash voucher is allowed Voucher posting is a separate function. This can be performed by authorised person only Generate and print payment, receipt, petty cash and journal vouchers of different voucher status Allow to re-open a closed accounting month more than one time but a maximum of three accounting months can be opened for each accounting year at the same time. Re-open a closed accounting month is performed under the Accounting Year Maintenance of sub-module Generate Pre Year End reports for checking before proceeding to process Year End. If Final Year End process for a selected accounting year is confirmed, the accounting year cannot be re-opened. Allow to start a new accounting year without closing the previous accounting year Can generate Annual Accounts Staff Cost Basic staff information can be retrieved from Staff and Staff Deployment sub-modules or by input in FMP. Can prepare monthly payroll for different payment methods e.g. by bank autopay or by cheque Maintain Provident Fund Register for Grant/Subsidized Schools Provident Scheme, ORSO Scheme and Mandatory Provident Fund Scheme Can generate softcopy of Employer s Tax Return (IR 56B) for submission to IRD

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