The accounting integration between FACTS Management and Aplos Software offers several notable benefits to educational institutions. By seamlessly connecting FACTS Management's administrative software with Aplos, schools can experience streamlined financial management processes. The integration simplifies payment processing, ensuring that tuition payments and other financial transactions are accurately recorded and tracked in your accounting. Overall, the collaboration between FACTS Management and Aplos Software enhances the efficiency, accuracy, and financial transparency of educational institutions, empowering them to focus more on their core mission of providing quality education.
Requirements
- Must have the Core Platform enabled in Aplos
- Must have an Advanced Accounting account with FACTS Management
- Must be an Administrator in Aplos
The integration retrieves received payments and transaction adjustments from FACTS. However, it's important to note that open payables or outstanding receivables will not be synced or imported into Aplos for tracking purposes.
How to Get Started
Access the FACTS integration within your Aplos account. Navigate to the gear icon in the navigation menu and select "Partners." Locate the FACTS integration and click "Link My Account" to establish the connection between your FACTS account and Aplos account.
To complete the setup, you will need to obtain your Institution Key and API Key from your FACTS representative. Please reach out to them to gather this information.
Once you have the necessary keys, proceed with entering them in the integration setup. Additionally, adjust the frequency settings by selecting a start date that determines the sync of transactions from FACTS to Aplos. Choose the desired frequency for the synchronization.
Note: When you choose a frequency setting for synchronization, any newly posted transactions since the last sync will be grouped together into a single journal entry for review.
After the frequency settings have been set, click “Access FACTS” to finish the setup process.
How to Import Transactions From FACTS
After completing the integration setup, you can start importing transactions from FACTS into Aplos. Begin by navigating to the Journal Entry screen, which will display the number of transactions that require review. Clicking "Review Transactions" will present a table of pending transactions, including the Retrieval date, Date Range, Description, and Amount.
Reviewing a Transaction
Review each transaction individually by selecting "Review."
This will prompt a review screen where you can assign the appropriate account and/or fund in Aplos for each transaction. If applicable, you can also add Aplos tags and add additional rows. Once the review process is complete, click "Import to Journal Entry" to import the transaction into Aplos. This action will take you to the Journal Entry Screen, where you can view the newly imported transaction.
Note: During the initial review of transactions, you will need to assign the Aplos account, fund, and tag manually. However, for subsequent imports using the same FACTS account, Aplos will automatically assign the corresponding Aplos account, fund, and tag.
Dismissing a Transaction
If you encounter a journal entry that does not need to be imported into Aplos, you have the option to dismiss the transaction. Dismissing the transaction will effectively hide it from the pending screen, and the transaction will be moved to the History tab.
How to Manage Historic Transactions From FACTS
If you need to review historic transactions from FACTS, you can easily access the History tab on the FACTS import screen. This tab will take you to a page where you can view all imported and dismissed transactions. You have the option to filter them based on their status (Imported or Dismissed) and sort them in ascending or descending order by amount, date imported, or date dismissed. Additionally, you can click on "View Details" to see the specific details of a historic imported transaction. If a transaction was dismissed, you can either mark it as pending or review and import it as needed.
How to Adjust Retrieval Settings
To adjust the frequency settings of the integration, simply click the gear icon on the FACTS import page and choose "Retrieval Settings." In this section, you can customize the frequency and select specific days of the week to retrieve your transactions from FACTS. After making the desired adjustments, remember to click "Save" to save your changes.
Note: The start date cannot be changed.
