SIMS Financial Management System (FMS) for Local Authorities

The SIMS Financial Management System (FMS) is an integrated double-entry accounting system that enables schools to manage all their key financial processes. It provides a comprehensive ‘at a glance’ picture of a school's finances and resources to help ensure its funding and resources are put to the best possible use.

SIMS FMS ensures management teams in your schools can manage day-to-day financial tasks more easily, supporting general ledger, accounts payable, accounts receivable, budget planning and equipment management. In your schools administrative staff can handle payments quickly and efficiently, heads of departments can manage their budgets and equipment, and bursars can track spending and staff costs against commitments.

SIMS FMS is a complete solution designed to address the specific needs of education users  – and costing thousands of pounds less than corporate systems. FMS has been supporting educational establishments for over 20 years and is currently used by over 17,000 schools.

The average secondary school could save 50% on payment costs or £3,500 per year by paying its suppliers by Capita’s BACS service.

Our Financial Reporting Suite further enhances FMS by proving high-quality visual reports.

Key benefits

• Accredited by ICAEW*
  SIMS FMS has been externally accredited by the Institute of Chartered Accountants in England and Wales – a world leader in accountancy and the finance profession.
   
• Simple accounting workflows
  Guide users through accounting workflows, including ordering and payments for materials and managing payments for facilities hire.
   
• A complete financial picture at schools' fingertips
  Gather information on staff contracts, payroll, purchases, payments received and assets held at any time. Schools can log all expenditure and income to easily generate complex analysis reports to help monitor day-to-day spending.
   
• Manage budget and demonstrate best value
  SIMS FMS helps schools set and manage the budget and report to governing bodies. It supports the Government’s Schools Financial Value Standard (SFVS) for demonstrating value for money and Consistent Financial Report (CFR) for end of year management.
   
• Save time and money with electronic ordering and payment
  SIMS FMS supports a completely electronic accounts payable workflow. It communicates with the Department for Education’s OPEN portal so orders and invoices can be authorised and sent for payment using the BACS standard
   
• Keep track of school equipment
  SIMS Equipment Register allows schools to manage and maintain a complete inventory of all their equipment
   
• Helps schools work with your local authority
  Supports common ledger codes to help create consolidated accounts for multiple schools. SIMS FMS supports local school payments (cheque book) or central payments by the local authority or a mixture of both

SIMS FMS is the focal point for all financial data – the point at which your schools have a comprehensive at-a-glance picture of their school’s finances and resources; it makes financial information usable, allowing timely, informed management decisions.

"Through colour coding in SIMS Assessment, we can see who is falling behind in their targets. Where departments or teachers are working well, we share this expertise with those who are less successful. Staff target resources to underperforming pupils ensuring everyone reaches their potential."

- Frank Butt, Deputy Head – Academic, Langley School, Norfolk

Disclaimer:

*The Institute of Chartered Accountants in England and Wales has accredited Capita Children's Services under the terms of the ICAEW Accreditation Scheme.  Purchasers should ensure that the software, its security features and related support meet their own specific requirements, as the Institute will not be liable for any damage whatsoever, incurred by any person, occasioned by the use of the software, or any related products or services howsoever caused.