School Fees Management System
In general, fee management is considered to be the heart of many tasks in educational institutions. Fees collection starts with the admission of a student and continues in the entire academic year. Managing fees also extends to the hostel, transport, and other services provided by the school. Managing fee and bill payments usually make institutions incur a higher level of stress.
The fees Management system is expected to be 100% error-free, even a minute mistake can spoil the financial prospects and reputation of the school.
Fee management along with various types of fee submissions also includes various other tasks like:
i) Receipts generation
ii) Transaction canceling
ii) Bill generation.
By all means, a school fee management system can simplify all these complex tasks and can help in the 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 :
The fees management system can make your online fee payment simpler by integrating a payment gateway. For this reason, this integration makes fee payments hassle-free for students.
Record keeping is also made easier with a payment gateway. Reports can be generated at any time. These reports also cover 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. In other words, Automating a fee management system can help your institution to manage this better.
At the same time. the fees Management system can also 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.
In other words, An integrated fees management system can handle all these tasks in a 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 applicable). The system can also enable you to perform transactions like fees refund.
The beauty of the system lies in user control. The privilege is provided only to the respective 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:
On the positive side, the fee management system provides institutes the power to control the entire finance. Only specific departments are provided access.
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 records 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 contact@edecofy.com
