Education Accounting Software
Increasing Others' Knowledge through Education - Increase Your Knowledge about Your Business
New Millennium Solutions provides implementation services for Microsoft Dynamics GP software for vocational, charter, and trade schools as well as other educational institutions. We can help you select an accounting software to provide relevant financial and management reports and streamline your business processes.
Intacct has been architecturally designed with a Platform Services application that facilitates the ability to integrate with your other on-premise or cloud software. Dynamics GP uses 3rd party integration tools to integrate your other applications. Intacct provides a more flexible GL accounting architecture which enables you to have more robust financial and management reporting.
Title IV - 90/10 Ratio
Schools that participate in the Title IV student assistance programs (including the Direct Loan Program) may find it difficult or time consuming to keep track of the Title IV Revenue and its sub-categories vs the non-Title IV Revenue and its sub-categories. Schools can create reports and graphs that display the types of revenues received for each campus and course/program. With Intacct's multi-dimensional GL accounts and multi-entity architecture, New Millennium Solutions can provide you with the flexibility to create timely and informative Title IV 90/10 Ratio reports and graphs, and many other simple and complex reports. Once the reports and graphs have been built, the user only needs to refresh/run them to view the most current data that populates the accounting software. These reports and graphs can be designed by your accounting staff, and you do not need a programmer. Dynamics GP can provide Title IV 90/10 Ratio reports. However, it is more involved, and you do not have the same GL account flexibility, and the mobile accessibility is restricted by web services setup and application installation.
Below is an example of an Intacct graph that displays the Title IV 90/10 Ratio by Location. This graph could also be displayed by Course/Program:
Schools would like to keep track of their student attendance for both campus/location and course/program. With Intacct's statistical GL accounts, you are able to keep track of the number of students for campus/location and course/program. Dynamics GP can provide Student Attendance reports. However, it is more involved, and you do not have the same GL account flexibility, and the mobile accessibility is restricted by web services setup and application installation.
Below is an example of an Intacct graph that displays the Student Attendance for each Program:
Business Processes Functionality
Other functionalities available with Intacct are the purchase requisition approval workflow, the employee expense approval workflow with mobile access for both data entry and approvals, multi-currency, ordering and billing, revenue management, automatic email invoicing capabilities, and more. Using 3rd party applications that integrate with Dynamics GP, it can also provide purchase requisition approval workflows and employee expenses and approvals. Dynamics GP has a strong multi-currency functionality that has helped organizations conduct activities in other countries that use a currency other than the USD. Dynamics GP can produce very informative reports with its SQL Server Reporting Services (SSRS) report writer. This report writer uses SQL scripts to join the database tables to create the data sources and needs someone in the organization or hired by the organization who can program in SQL.
CEA provides students with educational and cultural experiences around the world, and in the following statement, relates their experience of working with New Millennium Solutions (NMS).
"With complex issues created by multiple entities, multiple currencies and multiple languages, NMS has been able to assist us in designing, developing, and implementing systems from the foreign local site through corporate consolidations. They have also assisted in the integration of proprietary systems to Dynamics GP. NMS has been knowledgeable, flexible and timely when handling issues that we have presented. We feel that NMS is an integral part of our accounting and finance team."
– Avis Toberer, Corporate Controller, CEA Global Education Solutions