| Keep up-to-date with us and what's happening in the education sector |
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- 2024 Annual Accounts
- Important Notices
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Reminder: Xero Classic Invoicing Retiring: 27 February 2025
- Xero Tip of the Month: How to Export and Back Up Your Financial Data
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A Guide to Ministry of Education Funding: A Handy Reminder for Schools
- Seeking School Accounting Advisor to join our Team
- Looking ahead
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Payroll Reports:
The end-of-year School Annual Accrual Report (SAAR) and Annual Leave Liability Reports are available via Edpay, so if you haven't already done so, please can you upload these to the Google Drive 2024 Payroll folder.
Can you also remember to upload a copy of the Board Member list for 2024 (including all members that held office during the year).
If you have any questions, please contact the team on (04) 909-7729 or send us an email to admin@afsl.nz.
Important Note: While we're hard at work preparing the 2024 annual accounts, there's a chance you might hear from another team member at Accounting For Schools, someone you don't typically interact with.
Rest assured, this is all part of our team effort to ensure the annual accounts process runs smoothly and efficiently. Your primary contact for all accounting matters remains unchanged, and they will continue to be your dedicated point of contact, addressing any queries or concerns you may have throughout this period. And just to make things a tad easier for you, we've included a link to our complete team below. Simply click the button to access it. Thank you for your continued understanding and cooperation. |
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Banking Reminder - Accessing higher interest rates:
If you have any extra funds sitting in your school current account which are not required in the short term, it is a good idea to transfer these funds to your Savings or Call account in order to benefit from the higher interest rates that are now available.
And if you have funds that will not be required for more than three months you could also consider putting these on term deposit to earn even higher interest. |
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REMINDER: XERO CLASSIC INVOICING RETIRING - 27 FEBRUARY 2025 |
A reminder that Xero will be retiring the classic invoicing version on Thursday, February 27, 2025.
While many of you have already transitioned to the new invoicing system—following Xero's automatic switch on September 2, 2024—some may still be in the process of moving from the classic to the new version. After the extended deadline of February 27, 2025, access to Xero Classic Invoicing will no longer be available. |
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If you haven’t fully switched to the new invoicing system yet, now is the time to do so. Familiarising yourself with the updated interface before the deadline will give you time to adjust and become comfortable with the new features. To learn more about Xero's new invoicing system, upcoming enhancements, and to access Xero’s comprehensive guide, click the buttons below. |
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XERO TIP OF THE MONTH: HOW TO EXPORT AND BACK UP YOUR FINANCIAL DATA |
When it comes to your financial data, you can never be too cautious! While Xero is a cloud-based platform with strong security measures, it’s always a good idea to back up your financial data regularly for peace of mind. Regular exports of important reports and transactions can serve as a safeguard against any unforeseen issues. Although Xero doesn't have a built-in backup feature, you can manually export your data to store it on your local device or secure cloud storage. Alternatively, you can use third-party apps to back up your Xero data, such as:
Coupler.io: This app automatically exports data from Xero to spreadsheets, data warehouses, and BI tools. You can set the refresh interval to daily, monthly, every hour, every 30 minutes, or every 15 minutes.
Xportmydata: This app automatically backs up your Xero data on a weekly basis. You can also use Xportmydata to export your Xero data to Excel, download attachments, and create CSV import files. Both of these apps are available for download from the Xero App Marketplace. Manual Exporting:
If you prefer to export your data manually, Xero doesn’t have a feature to copy all your school's data at once. However, you can export data from specific sections and generate reports individually. Your ability to export data depends on your user role in Xero. If you have the adviser role, you can run and export most reports. However, to export payroll reports, you need payroll admin access.
To learn more about how to export your data manually, click the button below. |
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A GUIDE TO MINISTRY OF EDUCATION FUNDING: A HANDY REMINDER FOR SCHOOLS |
Effective school management requires a solid understanding of the funding available to support both everyday operations and special projects. The Ministry of Education provides various types of funding to help schools meet their financial needs, improve resources, and support students. Each funding stream has a specific purpose and is allocated based on different criteria, such as student numbers, school size, and specific educational requirements.
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By staying informed about the specifics of each funding type, schools can ensure they are fully utilising the resources available to them. Below we have provided a brief summary of the most common types of Ministry of Education funding and how they are allocated to schools.
Operational grant: The operational grant is the primary source of funding for schools. It covers the day-to-day running costs of a school, including teaching resources, utilities, and administration. The amount allocated is based on the school’s student roll and the equity index, which factors in the socioeconomic background of students. The operational grant is paid to schools quarterly at the beginning of January, April, July, and October.
Teacher aide funding (ORS, IRF, SEG, etc.): This funding helps schools cover the costs of employing teacher aides to support students with higher needs. The level of funding is determined by the assessed needs of the students. Schools must apply for this funding for eligible students, and it is also paid quarterly, in Feb, May, August, and November.
ESOL funding: ESOL funding is available to help schools support students whose first language is not English. This funding assists with the costs associated with providing English language instruction to migrant and refugee students, as well as New Zealand-born students of migrant parents. The school must apply for this funding for eligible students, and it is paid twice a year in April and September.
Furniture & Equipment grant: The Furniture and Equipment grant a capital contribution to assist with the upgrading of furniture & equipment within a school. The level of funding is determined by the physical size of the school and is paid out in each 5-year period. Two-thirds is paid out in the first year of the 5-year cycle and the final third is paid out in year three. This funding is recorded on the balance sheet, not as income.
Capital Works (5YA) Funding: Capital Works funding, also known as 5YA (Five-Year Agreement) funding, is provided for upgrades to school land and buildings, and is to be used over a 5-year period. The amount of funding is determined by the Ministry of Education based on the assessed needs of the school and is set out in the school’s 10-Year Property Plan. This funding is recorded on the balance sheet, not as income.
Relief teacher funding: Schools can apply for this funding to cover the costs of hiring relief teachers when staff members are on extended sick leave, serving on a jury, or undertaking higher duties. This funding ensures that schools can continue to operate smoothly in the absence of key staff. |
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Seeking School Accounting Advisor to join our Team |
Due to the increased level of support we are providing to schools, we are seeking a schools accounting advisor to join our great team. Obviously we need someone with an accounting background, we are open to part time or full time hours, and they need great interpersonal skills.
So if you know someone within the wider school community that is perhaps looking to return to work, looking for a change in direction, or just wanting to geninuely help schools stretch those valuable dollars as far as possible, please have them contact Allison (allison@afsl.nz) or Ben (ben@afsl.nz), so we can chat through what's involved. |
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271 Willis Street, Wellington 6011 |
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