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Things all PSF users need to know

Date published: Date modified: 2022-12-09

PS Financials (PSF) is a complex accounting system with many functions unknown to users. From queries about reallocating invoices to simply adding a credit note, we’ve heard it all. So, we thought we would share some of our knowledge to help you get to grips with the basics.

We believe that every PSF user in your team should know how to use these handy functions so that you can feel more confident with your school or academy's financial administration.

Scanning documents

Regardless of whether you have purchased the document attach functionality or not, you can still scan and attach invoices to PSF. The benefit of doing this is instant access to view your invoices, which means you don’t need to search for a paper copy.

This can also decrease your storage requirements since HMRC now accept scanned documents as evidence.

For large volumes, you can purchase the document attach functionality which provides a barcode to stick to each paper record. Once scanned into the system, each document will be automatically attached to the relevant transaction in PSF.

Prepayments and deferred income

When posting transactions which span two financial years, why not pro-rata the transaction it relates to on the system so that the relevant portion is posted into the current financial year and the remaining balance, relating to the future financial year can be posted straight to the balance sheet. This will speed up year-end and provide an accurate current year forecast.

PS Budgeting

Do you currently use budgeting software? There is now an integrated budget solution designed in collaboration with SAAF which streamlines the budgeting process, allowing medium-term forecasting and MAT consolidation for the Trustees and ESFA budget forecast.

Set up your own reports and favourites

Did you know that in your favourites there is an option to save reports you run regularly such as account enquiries, trial balance or document enquiries? This can save you time and make processes more efficient.

Upgrade to version 6

If you haven’t done so already, we recommend upgrading to the new version 6 of PSF- this contains some really useful additional functionality including:

  • Automated cheque cancellation
  • Automated intercompany rule for cross-location posting
  • Master cost centres
  • Central cost recharge functionality
  • Consolidated VAT returns

PSF Training

Did you know we are accredited PSF training and support partners? Contact us to find out more about our ad-hoc PSF training sessions. 

Contact us


Related Articles:

5 Tips that will help you become a PSF master

By Andi Brown
SAAF Education 340 110

12 September 2017



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