The customisable settings in Novus provide schools with the flexibility to tailor the software to their specific needs. You can upload your school logo for digital invoices and purchase orders, set up accounting periods for month-end closings, and configure approval workflows to streamline processes. NOVUS allows you to set up departments, add industry averages for financial data comparison, and choose bank import templates for bulk invoices, ensuring that everything aligns perfectly with your school’s unique financial operations.

The Novus Interactive Visual Dashboard helps SBMs compare budget vs actual figures or outturn positions using intuitive visual graphs, simplifying financial reporting. The benchmarking feature shows three years of performance with percentage changes for easy comparison. ICFP key ratios offer further insights, helping schools identify improvement areas and take corrective action. This powerful tool transforms complex data into actionable insights, enabling school leaders to make informed decisions and better manage their school’s financial health.

Novus Purchase Orders enable schools to easily raise POs for individual departments, streamlining the procurement process. The departmental creation feature allows users to create and manage their own departmental budgets, track spending, and monitor financial performance through a user-friendly dashboard. This functionality empowers budget holders to effectively manage their department’s finances, providing clear insights and greater control over budget allocation and expenditures, all in one convenient platform.

The invoicing functionality in Novus allows you to easily send invoices to customers via email, using customisable school stationery designed within the system’s settings. You can also add standard messages to each invoice for consistency and professionalism. This feature not only streamlines your invoicing process but also helps your school go green by managing invoices digitally, reducing paper waste and improving efficiency.

The Purchase Card functionality in Novus allows users to manually input purchase card transactions or import them using pre-provided templates. This feature simplifies the process of tracking and managing purchase card transactions, ensuring accurate and efficient recording of expenses for each supplier. Whether entering data directly or importing bulk entries, Novus streamlines the reconciliation process, saving time and reducing the chance of errors in financial records.

The Novus Budgeting module allows schools to forecast their budgets for the next 3-5 years, providing Headteachers and SBMs with valuable insights into their school’s long-term financial planning. This module enables schools to predict staffing costs by importing teacher and support staff pay scales, either from the Local Authority or directly from the school. By doing so, schools can ensure that their budgets are realistic and aligned with future financial needs, allowing for better decision-making and more accurate financial forecasting.

The Forecasts module in Novus lets schools input financial forecasts directly, offering a clear view of their yearly financial position. Schools can compare forecasts with system reports, removing the need for Excel. Novus saves time by providing strategic insights instead of manual report creation, future-proofing financial management, and ensuring school leaders have accurate information for effective decision-making.

The Journal Vouchers module in Novus offers users the flexibility to manually input journal entries or import them using templates provided by the system. This functionality streamlines the process of recording financial transactions, ensuring accuracy and efficiency in maintaining financial records. Whether entering entries directly or uploading bulk data, Novus makes managing journal vouchers simple and user-friendly, saving time while maintaining precise accounting records.

The Auto Bank Reconciliation in Novus saves SBMs time by automatically matching invoices with bank transactions when the date and amount align. Currently, 80% of invoices match without human intervention, simplifying reconciliation and reducing manual effort. This game-changing feature boosts efficiency and cuts administrative time. An upcoming enhancement will further streamline processes by automatically importing all bank transactions directly into Novus, making financial management even more seamless.