If you are a millennial, you would be familiar with the manual collection method of fees. Either parents physically go to school or sends the money through students. Fee management for the school includes keeping accounts with sheets of paper work. It involves a lot of writing including that of fee receipts, making it a hectic job for the school admin. School Fee management software changes all that.
By automating billing/fee collection process, schools can not only improve their revenue but also manage the data efficiently. A school fee management software provides you complete reporting of expenses with a single click. School management can send computerized reminders for pending charges and create advance expense bills. It helps keep a complete log of paid and due charges so you can monitor each student with no bother. Such software comes with features to handle fee submission (hostel fee, admission fee, computer fee, and tuition fee) , advanced fee, fee refund.
Key benefits of implementing an automated school fee management software
User-friendliness – Want to know the details of a school student’s past, future and current fee billing / payment collection receipts? Fee Management software has got you covered. It also provides details such as mode of payment, fee details, balance information and student payment etc. Imagine doing the same manually. It would consume a lot of time and effort to get all these details.
Ease the collection process without error – Fee collection when done manually is prone to human error. Automating this process helps avoid the errors at the receipt counter. If you are a school administrator, you can create convenient fee structures using a school fee management system. Fee structuring at class or student level becomes very simple and easy. You can define the time and type of fee to be collected from specific grades.
As such modules have features to collect fee from the school store and canteen, the whole fee process gets a proper structure and it becomes easier for the accountant to
Involvement of lesser workforce by schools – Schools can benefit from the reduction in admin staff. The reliability of the system makes data collection, storage and retrieval easier and faster. It also means the number of admin staff can be brought down. Especially if yours is a school with huge student population. The cost thus saved maybe used in other constructive ways such as the better infrastructure or study facilities or even an extra teacher.
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Strict security measures – With a secure database of student and payment accounts, such advanced software can prevent fraud transactions and maintains transparency. There are role based user profiles in the system which helps in identifying missing payments and the like, if any.
Easy online fee collection – While office admin has limited time to work, online school fee management software works 24/7. Being online round the clock makes it easy for parents to pay fee according to their convenient timing from wherever they are.
Parents can also benefit from the software– It isn’t just the school management or the admin who enjoys all the benefits, but parents can also use them. In their busy schedule, parents do not have to visit the school to pay fees. Apart from the convenience of paying fees online via secure channels at anytime, anywhere, they will also receive message alerts and notifications on balance dues and other fees, if any left. For each payment from parents, the software will generate valid receipts as well.
Never lose your data – Occasionally, manual management can lead to data loss. But, in the case of a fee management software, you don’t have to worry about such issues. There is always a backed up version online. Even if your current data gets lost, you can restore it from your backup.
Timely Notifications – As mobile phones are with everyone, it has become super easy to send notifications. These can be set to different user profiles as required.