Fees Management System

What is Fees Management System?
Fees Management is the most important module that will help an institution to maintain a financial record of an institution. It will take care of the amount of fees paid by students for the respective course opted by them. Fees Management is a kind of module specially designed to give a precise idea to parents regarding the fee structure of the institution.

Fees Management System Challenges

Managing collection of fee, issuing fee receipts and fee register update is a laborious manual process, leading to data inaccuracy and / or reconciliation. Also, preparing receipts manually everyday needs additional clerical staff.
For generating due fee report a complete manual procedure is required, which involves a lot of time and staff manpower. Re-entry of fee receipts in accounting software separately leads to double manpower cost and time.
Reminding students and parents about fee payments and due dates is a tedious task. Managing rush and chaos during last few days when due date approaches closer is again a challenge for institutes. Procedures like Demand Draft/Cheque clearance are time consuming and require paperwork and an additional staff.
If there is an option of paying fee in instalment then the institute’s efforts increase.
Sometimes these tedious processes add to disappointment of parents and students regarding management skills of the institutes’ staff.
Regulatory compliance tracking becomes challenging for institutes’ management team.

Fees Management System Attempts

Define and club various fee components for various grades, course, streams etc. to generate a flexible fee structure.
Define fees slabs with different ranges like quarterly, monthly, half yearly for different standard.
Facility to clone fees slab for different standard from the fees slab of other standard saving time and effort from repeated data entries.
Linking the fees slabs to accounting ledgers so that on collection of fees, accounting receipts are generated with ease.
Facility to collect fine and provide discounts in fees.
Display of fees remaining on part payment of fees.

Fees Management System Solutions

Any payment related notification will appear on the dashboard of the particular parents and students.
This amenity of mutiple dashboard makes it easy for an admin to determine the unpaid fees.
This dashboard will also present the receipt in return to the amount of fees paid by parents.
With this feature, the parents as well as the school management are updated about the financial part.
Also, Fees Management Module offers automation in updating the fee structure of particular students in case of promotion of a student to another standard.
All these record will be maintained under the Student Information Module as well where, the entire history record of each student is maintained.
Also, it makes it easy for the management to determine the amount of income earned from the students.

Fees Management System Usefulness

Maintaining finance sector in an institution is a challenging task for an official to perform, since it involves an accountability to parents as well as school authorities about the money invested and earned by them.
This module takes care of the entire finance of the institution and manages it effectively, allowing the staff to concentrate on the other important tasks.
There is barely any chance of misrepresentation/ fraud because everything is recorded online and is under constant observation of the school/ college authorities.
This module is very much in demand in today’s modernly built education institution, where, every minute detail is recorded online using a software.
It lessens the workload from the school/ college official, allowing him/ her to focus on other school management areas. Also, this software is time-saving, reliable and cost-effective.
It only requires one-time investment by the institution that could be used for the long-term. We provide the module in the customized format, allowing the institution to add/ delete options, as per their institutional standards.