An accounting software system is playing a key role in the effective operation, administration and management of the Tertiary Education Council (TEC) of Botswana, tasked with the funding, regulation, planning, coordination and control of the country`s tertiary education institutions.
The TEC contracted the Botswana branch of southern African business and accounting software reseller and solutions provider Lorge to implement a solution that would not only serve the parastatal`s accounting needs but also provide an effective database for registrations.
An ACCPAC Corporate Edition accounting software package was installed. "To accommodate the specific needs of the TEC, the Accounts Receivable module was also set up in a way that not only enables the tracking of revenue but also individual institution registrations and registration renewal dates," said Lorge Botswana branch manager Jurgens Snyman.
"There are five directorates within the TEC structure and the General Ledger module was therefore set up to provide individual charts to enable each directorate to track and analyse its expenditure. The ACCPAC system is also producing the year-end financial statements with minimal effort and at minimal cost whereas before this was time-consuming and expensive, having first been done manually and then sub-contracted out for auditing."
TEC executive secretary Patrick Molutsi said the goal of the parastatal is to eradicate sub-standard education by ensuring all tertiary education facilities in Botswana are registered with the TEC and that there is ongoing compliance with its minimum requirements and standards. TEC regulations are now in the process of being gazetted.
"The objective," said Molutsi, "is to raise standards, improve overall access to tertiary education institutions and ensure they deliver what they were set up to deliver. Institution buildings, facilities, human resources and curricula, among other aspects, will be regularly reviewed by the TEC."
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