1. Home
  2. MAT Finance

MAT Finance

What is MAT Finance?

The Bromcom MAT Finance product is the Finance solution for MATs that provides a single database, multiple site system integrated with the Bromcom MIS for MATs who want a simple integrated Finance solution designed for ease of use with the DfE Chart of Accounts in mind.

Key Features

  • Single Database with multiple Sites
  • Developed with the DfE Chart of Accounts in mind
  • Integrated with the Bromcom MIS

Features and Benefits

FeatureWhat it DoesBenefits
Single Database with multiple SitesAllows for a single MAT customer log-inData is collected organically on the go to make reporting and getting data out quickly and easily
Site ClustersAllows for Sites to be grouped into different ClustersData can be filtered based on Cluster so that Sites can be viewed as a group quickly and easily when performing transaction Enquiries
Finance and Budgeting DashboardsAllows for data to be visualised in purpose built dashboardsReports portrayed in graphs and charts which will show only data relevant to the user logged in
IntegrationsDirect integration with Bromcom MIS and MAT FinanceRemove costly duplication of data entry and ensure consistency across systems
Single/Multiple Bank AccountsAllow for movement of budget amounts between areas in the approved budgetChoice of multiple bank accounts fixed to individual schools or bank accounts used by all schools.
Also supports having a Single bank account for a trust wide system along with a single bank account for groups of academies
Automatic Intra-Company JournalsAllow for cross site postingsGives the ability for transactions to be posted to multiple Sites with automatic self-balancing journals generated to ensure there is no imbalance in the Trial Balance across the trust
Bulk Payment RunsPerform bulk payments via BACS or ChequeAbility to pay Invoices in bulk with the flexibility to perform single site, multiple site and full trust wide payment runs
Budget ManagementCreate unlimited budget profilesCreate multiple profiles and change which default profile is in use at any point in the Financial Year
Detailed User Access SecuritySpecify user access to different data layersGives the ability to limit data access as well as functional access at trust or Site level
Workflows and ApprovalsManage approval of spending across the MATConfigure multiple workflows based on priority to ensure review by the correct individual before authorisation
Workflows can be configured based on any combination of Site, Document and Value
Making Tax Digital (MTD)Automatic link to HMRC for form VAT100 submissionWhere the MAT is registered for VAT, they will be able to complete consolidated returns directly to HMRC via the Making Tax Digital service
Multi Year ReportingAccess multiple years’ data at the same timeBased on user access and permissions, it will be possible to view data across multiple financial years to easily get access that is needed when it is needed without the fuss
Statutory ReturnsSystem reports and APIs to help with financial returnsHave the ability to produce reports as required by the annual Academy Accounts Direction, such as BFRO, BFR, SofA and AAR (Academy Accounts Return)
API can automate data to help populate a large part of the AAR
Mappings can be set up for Ledger codes to make the collecting of data for these returns a seamless process
*Income AllocationAutomatically generate postings for IncomeAbility to collect income from various methods with automatic allocation via APIs to allow for automatic postings of MAT wide Income into MAT Finance
*Automatic Bank ReconciliationDownload transactions directly from the BankAuthenticate directly with the trust or site bank account to download transactions and statements directly into MAT Finance and perform automatic reconciliation
*PunchoutOrder directly from supplier websitesGo directly to the Supplier website from MAT Finance via Punchout to place the orders that then are then automatically created back in the system speeding up the ordering process
*Advanced WorkflowsSet up approvals based on more criteriaWorkflows can be set up to trigger based on document lines, cost centres, ledger codes and other dimensions to allow for a far more advanced set up to be created.

*Planned for delivery by Q3 of 2022