School Fees Management System
Fees Management is considered to be the heart of many tasks in educational institutions. Fees collection starts with admission of a student, and continues in the entire academic year. Managing fees also extends to hostel, transport, and other services provided by school. Managing fee and bill payment usually makes institutions to incur a higher level of stress.
Fees Management system is expected to be 100% error-free, even a minute mistake can spoil the financial prospects and reputation of school.
Fee management along with various types of fee submissions, also includes various other tasks like:
i) Receipts generation
ii) Transaction cancelling
ii) Bill generation.
A school fee management system is supposed to simplify all these complex tasks, and can help in easy handling of day-to-day tasks in fee and bill payments.
Here are some benefits of integrating school fees management systems:
- Complete View of Fees Management:
A well-integrated fees management system will provide your school with features like:
a) Setting complete fee structure depending upon student class or course opted.
b) Enables to collect late payments and fines.
- Simpler online transactions :
Fees management system can make your online fee payment simpler by integrating a payment gateway. This integration can make fee payments to hassle-free for students.
Record keeping is also made easier with this type of payment gateway. Reports can be generated at any time, covering important details like transaction date and time.
- Easy Invoice/ Bill Generation:
Parents of students usually expect invoices or bills for the payment of the fee they have done. These tedious tasks consume a significant time of for the accounting team. Automating a fee management system can help your institution to manage this better.
The fees Management system can help you to generate invoices/bills at any time, in various formats like PDF/Excel. Integrating the same with accounting software like Tally can also help in managing ledger account as well.
- Multiple Finance Management:
Educational institutions usually collect fees for a variety of purposes like Form, Admission, Exams, Caution Deposits and several others.
An integrated fees management system can handle all these tasks in single platform. It can help in making fees management simple, smooth, and efficient.
- Tax & GST Calculation:
A fees management system can help in calculating all types of taxes including GST (if possible). The system can also enable you to perform transactions like fees refund.
The beauty of the system lies in user control, and the privilege can be provided to the respective department employees.
- Discount Calculation:
Usually, an educational system offers various types of discounts for its students such as fixed, percentage, ad-hoc depending upon the situation.
The fees management system enables the institutes to set up the discount type. It can also help in generating separate reports based on the category of discounts.
- Control Finances of the Institute:
Fee Management System provides institutes the power to control the entire finance. Specific departments can be provided access to the system. Information can be viewed or taken as a report as and when required.
Institutes can also hold the documents of students if the student has outstanding fees in account. “Filter” feature provides a specialized view of fee and bill payment record of students, course wise, and category wise.
The quick and feature-rich fees payment system from Edecofy allows the schools to quickly check the dues to ensure timely payments and manage fines. Looking for more details? Please visit https://www.edecofy.com, you can also reach us email@example.com