Overview

eFinancePlus, a product of Powerschool, is a comprehensive financial management system designed specifically for K-12 school districts. It offers a wide range of abilities and functionalities to support efficient and accurate financial operations within educational institutions. Here are some key abilities of eFinancePlus:

1. General Ledger Management: eFinancePlus allows schools to manage their general ledger, including creating and tracking accounts, recording financial transactions, and generating reports. It provides tools for managing budgets, revenue, expenses, and fund accounting.

2. Accounts Payable: The system streamlines the accounts payable process by managing vendor invoices, tracking payments, and facilitating approval workflows. It automates invoice processing, payment generation, and expense tracking, ensuring timely and accurate payments.

3. Purchasing and Procurement: eFinancePlus includes features for managing the purchasing and procurement process. It allows schools to create and track purchase orders, manage vendor contracts, and receive goods and services.

4. Payroll Management: The software offers robust payroll management capabilities. It handles employee data, tracks hours worked, calculates salaries and deductions, and generates paychecks. It accommodates various pay structures, benefits, and tax regulations.

5. Budgeting and Financial Planning: eFinancePlus provides tools for creating, managing, and monitoring budgets. It enables schools to set budget allocations, track actual expenditures, and generate reports to analyze budget performance. It supports financial planning and decision-making processes.

6. Financial Reporting: The system offers a wide range of financial reporting capabilities. It provides pre-built reports and customizable report templates to generate financial statements, budget summaries, expenditure analyses, and other financial reports. It facilitates data analysis and informed decision-making.

7. Compliance and Audit Support: eFinancePlus helps schools ensure compliance with financial regulations and supports audit processes. It provides audit trails, financial controls, and data security features to maintain data integrity and meet reporting requirements.

These abilities of eFinancePlus contribute to efficient financial management, accurate record-keeping, streamlined processes, and improved financial decision-making within educational institutions.

Integration with other Products

eFinancePlus plays a crucial role in linking various products such as PowerSchools Unified Talent and TimeClock Plus, by integrating them into a unified administrative solution. Here's an overview of eFinancePlus' role in linking these products:

1. Unified Talent:

   • HR Integration: eFinancePlus integrates with Unified Talent to ensure seamless data exchange between the HR management system and the financial management system. This integration allows for a unified view of employee data, including payroll, benefits, certifications, and evaluations.

   • Payroll and Benefits: eFinancePlus leverages data from Unified Talent to streamline payroll processing and benefits administration.

2. TimeClock Plus:

   • Payroll Integration: eFinancePlus integrates with TimeClock Plus (TCP) to capture employee attendance and hours worked. This integration enables accurate and efficient payroll processing based on the time and attendance data recorded in TCP.