About the SOFA report

About the SOFA report

This report is only available to Sage 200cloud Education users who are also Academies.

The SOFA report is required by the Government to report on the income and expenditure of your funds. You can produce the required figures for this report from Sage 200cloud.

Where the figures come from

Sage 200cloud uses your cost centres fund types and SOFA categories when deciding which balances to included on the report.

How to set up Sage 200cloud to produce the report

You 'll need to make sure you've set up the following:

How to run the report

Open: Nominal > Nominal Reports > Financial Statements > Statement of Financial Activities.

How to reconcile the report and check your figures

Your can check the figures on the SOFA report by checking it against the Cost Centre Analysis reports:

  • Cost Centre Analysis: This shows the total Debits and Credits for each nominal account by cost centre.

    Check the total debits and credits for each fund type match the income and expenses sections on the SOFA report.

  • Cost Centre Analysis (Detailed): This lists the transactions for each nominal account by cost centre. It also shows the totals per cost centre.

    Check that the total debits and credits for each fund type match the income and expenses sections on the SOFA report

Tip:
  • Any nominal accounts without a cost centre are also included in these reports. To exclude these, select the range of cost centres in the report criteria.
  • Make sure you run the reports using the same dates. Set the Transaction date in the Cost Centre Analysis report criteria to be the same as the last day of the period set for the SOFA report.

Some transactions are missing from the report