SIMS FMS Private Fund Database Service

About the Service

Having an additional database within SIMS FMS allows you to record income and expenditure relating to your school's private funds in a secure, audited system. The financial year can run from September to August or April to March depending on your school's requirements.

The SIMS FMS Private Fund Database Service involves our SIMS FMS specialists creating an additional customised FMS database for your school, to enable you to manage your school's private funds. It is installed on your existing SIMS FMS installation and is accessed via a database selector (DB Selector), which allows you to choose which SIMS FMS database to open.

A separate financial structure can be set up to meet your school's individual requirements.

What are the benefits?

SIMS FMS provides a familiar financial management system for school staff, offering several key benefits:
Time Saving: No need to spend time learning a new system if you are already familiar with FMS.
Customisation: Cost Centre structures and Ledger Codes will be customized to meet your school’s requirements.
Comprehensive Recording: Record all totalled receipts, expenditures, and banking, and generate full accounting reports.
Consistent Reporting: Reports are provided in the same format as the School Budget Share FMS database.
Professional Installation: The database is installed by Lancashire County Council Education Digital Services, with consultancy from a SIMS FMS specialist included as part of the initial setup.
Guidance Documentation: Installation includes a “Getting Started with SIMS FMS Private Funds” guidance document.
Managed Upgrades: Upgrades to your Private Funds database will be managed as part of your SIMS support option.
Annual Support: Annual support from our ICT Service Centre is included.
Full Auditability: The SIMS FMS Private Funds system is fully auditable.
Year-End Guidance: Documents providing guidance on “Opening the New Financial Year” and “Closing the Old Financial Year” will be emailed to schools in either March or August.
Adaptability: Can be used with any third-party income system, such as ParentPay.
Efficiency and Security: More efficient and secure than keeping details on a spreadsheet.

What's Included?

Service Features

Feature	Description
Installation	The installation of a blank SIMS FMS database on the school's server and configuration of the SIMS FMS Database selector. Installation of the database will be carried out remotely.
Configuration of the new database	An on-site visit or remote consultancy will be provided by one of our SIMS FMS experts. They will configure the new system for private funds and tailor it to your school's requirements. The SIMS FMS database is used to record all totalled receipts, all expenditure, banking and to generate full accounting reports.
Consultation Services and FMS Overview	An overview of the new system and associated processes. The on-site consultancy or remote consultancy session also provides the school with the opportunity to address any areas of SIMS FMS they are unfamiliar with.
Documentation	"Getting Started with SIMS FMS Private Funds" document and annual financial year end documentation.