1. Accounting & Financial Management • Ability to track receipts, disbursements, transfers, and balances for each club, activity, or account. • Support for fund-based accounting, including segregation of restricted and unrestricted funds. • Ability to address the collection of SC Sales tax or Use tax, as applicable. • Real-time account balances with audit trail of all transactions. • Detailed ledger entries including user, timestamp, and supporting documentation. 2. Cash Handling & Deposits • Cash receipting tools for schools to record collections from fundraising, fees, and events. • Deposit tracking with supporting documentation. • Optional integration with cashless payment options (online payment portals, POS systems). 3. Auditing & Compliance • Full audit log of all transactions. • Compliance with state school activity fund guidelines. • Ability to attach documents, receipts, and supporting materials. • Year-end closing tools for rollover of balances. 4. Reporting & Analytics • School-level and district-level reporting dashboards. • Capability to generate: o Balance sheets o Income/expense statements o Activity-specific financial reports o Audit reports o Outstanding receivables/payables • Export to Excel, CSV, PDF. • Custom report builder preferred. 5. User Access & Security • Cloud-based system with secure login and multi-factor authentication. • Role-based access control (RBAC). • Must adhere to industry security standards (e.g., SOC 2, ISO 27001) and comply with all applicable local, state, and federal financial regulations. • The system should include appropriate safeguards and fraud detection capabilities to protect sensitive data and operational integrity. • Compliance with FERPA and district cybersecurity standards. • Daily automated backups and disaster recovery plan.
