Statutory Reports Setup

The format of the statutory reports, the Statement of Financial Activities (SOFA) and Balance Sheet, is dictated by the Accounts Direction published by the Education & Skills Funding Agency (ESFA). The ESFA normally publishes a revised Accounts Direction every May for the financial statements ending in August.  The SOFA and Balance Sheet, and associated ‘Notes’, derive data from the Sage nominal ledger.  The method adopted by the Dayta Academy Reports is to ‘map’ each nominal account to the lowest level of note required by the Accounts Direction model financial statements (Coketown).  The mapping to the lowest level then determines the summary level automatically.

The ‘mapping’ is maintained using ‘SOFA & Balance Sheet Mapping’