Financial Management System
Turn data into actionable intelligence to keep your institution on track with your strategic plan. CampusNexus® Finance HR & Payroll is a feature-rich financial management system designed for higher education.
Optimize Resources to Drive Student and Operational Success
Facing budget reductions even as they try to maintain competitive advantage and academic standards, college and university business offices need an ERP solution that helps optimize resources around their mission as student, staffing, and operational needs evolve.
With CampusNexus® Finance, HR & Payroll, your institution gains real-time insight into operational effectiveness from world-class Microsoft technology that has been tailored specifically to the needs of higher education.
You get the most universally recognized brand name for managing operations and resources already configured with the most proven tools for higher education.
Solution SheetFinance, Accounting, and Revenue Recognition
Whether your institution has one campus or 100, you need feature-rich functionality that keeps you in control of the processes critical to sound fiscal management. CampusNexus Finance, HR & Payroll includes:
General Ledger – manage ledger, sales tax, currency, year-end closing and financial statements
Cash and Bank Management – administer bank accounts and bank reconciliations
Accounts Receivable – oversee tuition and services invoices and incoming payments
Accounts Payable – process vendor invoices and outgoing payments
Student Accounting – record student information, including charges, payments, refunds, and adjustments
Federal Work Study Management – record FWS award amounts and track against payroll information to ensure available funds
Fund Source Management – create and manage the funding sources available to students, from federal grants, loans, and work study programs, to state aid, private scholarships, and institutional grants
Fixed Assets – track and depreciate assets such as equipment, technology, furnishings, vehicles, and buildings
Retail and Point of Sale – operate sales for ticketed and special events, bookstores, and dining halls and cafes
57% of Chief Business Officers state that greater transparency in campus decision-making would result in better financial decisions
Planning and Forecasting
Successful financial management is founded on clear visibility into current and future needs, plus real-time monitoring and accountability. CampusNexus Finance, HR & Payroll provides:
- Budgeting – set up, initiate, and view budgets; restrict, freeze, and increase/decrease budgets based on real-time needs
- Position Budgeting and Control – project hiring needs, anticipated retirements, associated costs, and implement bulk pay-rate changes by effective date
- Project Accounting – provide financial supervision for multi-year capital improvement projects throughout the organization
- Procurement and Sourcing – manage the purchasing process for goods and services
- Travel and Expense – define expense policies and automate reimbursement for approved travel