Transforming Montessori Accounting: A Success Story of Efficiency with QuickBooks Advanced and Dext

Accounting can be a complex and time-consuming task for many educational institutions, especially when relying on outdated processes. A Montessori school in Toronto faced this challenge head-on. Their existing accounting system was slow and inefficient, causing delays in critical financial reporting. After partnering with Exactitude Bookkeeping, they completely overhauled their accounting workflows, moved to QuickBooks Online Advanced and Dext, and achieved a remarkable turnaround. This post shares their journey, highlighting how cloud accounting tools and expert guidance helped them submit their fiscal year audit in just 7 calendar days—down from 2 months the previous year.

Identifying the Challenges in Montessori School Accounting

The Montessori school’s accounting process was manual and fragmented. They used spreadsheets and paper records, which led to:

• Delayed financial updates

• Inconsistent data entry

• Difficulty tracking expenses and revenues

• Lengthy audit preparation times

  
  

These issues made it hard to close the books quickly at the end of the fiscal year. The school’s finance team spent weeks reconciling accounts and preparing reports, which delayed the submission to auditors by nearly two months.

Why QuickBooks Online Advanced and Dext Were the Right Choices

Exactitude Bookkeeping recommended QuickBooks Online (QBO) Advanced and Dext for their cloud-based capabilities and automation features. Here’s why these tools fit the school’s needs:

• QuickBooks Online Advanced offers scalable accounting features, including custom workflows, enhanced reporting, and multi-user access, ideal for growing organizations.

• Dext automates receipt and invoice capture, reducing manual data entry and errors. It integrates seamlessly with QBO, ensuring real-time updates.

• Both platforms support cloud access, enabling the finance team to work remotely and collaborate efficiently.

  
  

The Transition Process: Months of Consistent Improvement

The transition was not instant. It took several months of steady work to:

• Migrate historical data accurately into QuickBooks Online Advanced

• Set up Dext to capture and categorize expenses automatically

• Design new workflows tailored to the school’s financial operations

• Train staff on using the new systems effectively

• Continuously refine processes based on feedback and audit requirements

  
  

Exactitude Bookkeeping’s expertise was crucial during this phase. They provided hands-on support, troubleshooting issues, and ensuring the school’s team felt confident with the new tools.

Designing Workflows to Ensure Audit Readiness

One of the key goals was to make the school’s books audit-ready at all times. The team focused on:

• Establishing clear approval processes for expenses and invoices

• Automating bank reconciliations and transaction matching

• Creating standardized reports for monthly reviews

• Implementing regular internal checks to catch discrepancies early

  
  

These steps reduced errors and improved transparency, making the audit process smoother and faster.

Results: Fastest Audit Submission in School History

The impact was clear when the fiscal year ended. Thanks to the new system and workflows:

• The school submitted its audit package to auditors in just 7 calendar days

• This was a dramatic improvement from the 2 months it took the previous year

• The finance team saved countless hours previously spent on manual tasks

• The school gained confidence in its financial data and reporting accuracy

  
  

The success demonstrated how cloud accounting and expert guidance can transform financial operations in education.

Practical Lessons for Other Schools and Small Organizations

This case offers valuable takeaways for similar organizations:

• Invest time in proper setup and training to maximize cloud accounting benefits

• Use tools like Dext to automate data capture and reduce errors

• Design workflows that support ongoing audit readiness, not just year-end preparation

• Partner with experienced bookkeeping professionals who understand your sector

• Be patient—transformation takes time but delivers lasting results