Account for what you own11 / 11
Somebody has the laptop. Nobody knows who.
Schools buy constantly and lose track just as fast. Projectors, laptops, laboratory equipment, furniture, sports kit. The purchase is recorded because it had to be paid for. What happened to the thing afterwards usually is not.
The problem today
The purchase is recorded. What happened next is not.
- The stock register is a book, and it is behind.
- Fixed assets and consumables are treated the same way, which suits neither.
- Depreciation is calculated once a year by the accountant, from a list somebody assembles.
- When a member of staff resigns, working out what they hold means asking around.
- Stock goes missing and nothing records it going. The register still says what it always said.
What EduBold changes
EduBold tracks every asset, and who is holding it.
Account for what you own/A movement says why
- Damage
- Expiry
- Theft
- Wastage
- Recount gain
- Recount loss
- Return to vendor
- Opening balance
Consumables and fixed assets are different things
A box of chalk and a microscope do not behave alike and are not tracked alike. Fixed items carry an asset tag, a serial number, an acquisition cost and a useful life in months.
The purchase creates the stock
A bill goes from draft, to approved, to goods-received. Receiving materialises the stock for every line automatically. Once a bill is received it cannot be cancelled, because you cannot un-receive goods.
The scanned invoice attaches to the bill, and purchase history for any item is available across every bill you have ever raised. When somebody asks what these chairs cost last time, there is an answer.
Issue to a person, or a place
Material is issued or allocated to a staff member, a student, or a location.
Then the question that matters becomes a screen: what does this person currently hold? Asked every time somebody resigns, and currently answered by memory in most schools. Items are returned, or marked lost with a reason.
Stock movements carry a reason
Not just a number that changed. Damage, expiry, theft, wastage, recount gain, recount loss, return to vendor, opening balance.
An auditor can see why the count moved. And you can total the value impact by reason, which means you can say what theft actually cost this year rather than suspecting.
Depreciation runs monthly, by itself
Configured per category, calculated on a schedule.
Calculate it and look at it before posting it. Those are two separate actions here, which is the difference between an accountant who trusts the number and one who checks it by hand.
Ten reports, shaped like an audit
Stock register as a chronological journal per item. Material purchase, line by line. Current and annual stock. Material allocation, showing what is out right now. Material written off. Consumable issue. Consumable stock. Location-wise allocation. Printable tag slips for labelling fixed assets. Stock valuation, by value, highest first.
The detail that decides it
Pick up any one thing the school owns and see its whole life.
Pick any fixed asset and see its life in order.
- Purchased, on this bill
- Received, on this date
- Issued to this person, returned, reissued to a location
- Adjusted for damage
- Depreciated, every month
- Condemned
Schools do not usually think they need this until an insurance claim, a question from the auditor, or a dispute about whether a piece of equipment was ever actually delivered.
Then they need exactly this, and there is no way to reconstruct it afterwards.
For the management committee
Fixed assets are a balance sheet item most schools cannot evidence.
What exists here is an asset register with acquisition cost, useful life, monthly depreciation, disposal and condemnation, and a valuation report.
Items below reorder level and top vendors by spend are the two operational reports a committee actually uses: one prevents emergency purchasing, the other shows procurement concentration.
One thing to know: inventory depreciation and the fixed-asset register in the accounts module are currently separate systems. The connection between them is designed but not yet implemented. If consolidated asset accounting matters to your decision, raise it in the demo.
Next
Bring your hardest question.
Half an hour, on the problems your school actually has. Bring the thing your current system cannot do, and you will watch EduBold run it against your own rules before you decide anything.