ClassWallet addresses the pain of managing cash, checks and paperwork associated with tracking certain expenditures for public institutions such as school systems and nonprofit SMEs. Through ClassWallet, users are provided a virtual wallet in which spending budgets can be allocated and spent within a fully integrated network marketplace. All network vendor partners provide SKU level data. As a result, ClassWallet provides administrators and funders real-time, SKU-level reporting of all transactions (as well as pre-approval permissions, if needed) in a completely paperless environment.