by Hilary Levenstein - October 2006

Sekolo SA Borokgo is a small school in Blairgowrie, Randburg that has been using EconoAccounting very successfully since May 2006. It is a senior school with about 300 learners. The principal, Dave Rossouw is understandably proud of his school, with its 100% matric pass rate and motivated learners. He is newly appointed - only arrived this year.

He knows that the school must be managed properly.  When he took over he was unable to ascertain the school's financial position. His bursar was unable to give him management accounts. Debtors were unacceptably high and incorrect.

He appointed a new bursar, and implemented EconoAccounting in May 2006. The first task of the bursar was to find existing financial information, which proved almost impossible. The bursar, with Econoserv's assistance, imported bank account data from various bank accounts and manually captured data where it was not available for download. In addition he captured the 300 learners as debtors and captured invoice information as debit notes. Within a month all transactions had been allocated and the principal was able to see how the school was running. Debtors opening balances took some time to sort out, but within 2 months debtors were running smoothly and parents started paying timeously because they were now receiving correct statements. When statements were first sent out using the EconoAccounting system, they were sent out with a letter asking parents to check the statements. Many parents were able to prove that they had paid and the transaction was traced via the bank account.

Mid August, the Trustees were given management accounts and a healthy debate arose around some of the figures. They had accurate figures with which to work with and plan for the future.

Any donations or sponsorships would be greatly appreciated. You may contact us or the principal on 011 787 6460.