Fee collection is one of the most pivotal tasks of the school administration team. But can this tedious job be simplified? We bring you the answers.
Fee management and collection is very important for a school administration. Timely collection of fees helps the school function in a seamless manner. However, when the fee collection is done manually, there are bound to be human-errors and miscalculations. Additionally, fee calculations every month, for every student are time-consuming and labor-intensive processes. If the institute also provides a hostel facility, transport facility, canteen facility, and other services as well, then managing fee becomes more stressful.
Fee management also includes tasks like generating receipts and maintaining records for the fees,
Any mistakes in the calculation, collection, or processing of the fees can have the last effects on the reputation of the school and educational institute.
How to Simplify School Fees Collection?
The use of a School ERP system has revolutionized the fees collection system for schools. The software uses technology to simplify the tedious tasks from sending payment reminders to the parents to managing fee submission, generating receipts, managing the online transaction, maintaining records and lots more. It simplifies the manual tasks, eliminates the chances of errors and enhances the fee management structure – making it easier for the school as well as for the parents paying the fees.
What are the advantages of school ERP software for fees collection?
1. Use to Install and Implement
School ERP software is easy to use and install. Instead of a complicated system, the school administration team will struggle to learn and implement, school ERP software is very simple to use. This will motivate the team to use.
2. Error-free calculation
Calculating the fees manually for every student is a tedious task with a high scope for errors and mistakes. This labor and time-intensive task require a lot of hard work, attention, and manual calculation. On the other hand, with school ERP software, the entire process is automated. This enhances accuracy and eliminates the possibility of mistakes in the process.
3. More Comfortable & less Time-Consuming Process
The school ERP software with the fee management module gathers information from all departments such as the transportation department, library, hostel, etc. This makes it easy and less time-consuming for the management team to make final records and calculate the total fees.
4. Automatic Calculation of All Elements of the Fees
Calculating the fees for a student’s includes many elements from the calculation of late payments, calculating hostel/canteen/transport fees, evaluating scholarships and discounts, and working out the entire amount. The use of a school management system allows for an integrated fee management system. It gives the administration team the facility to set up a complete fee structure according to the student category, course, or service requirement. The system also computes any late payments, fines and includes those into the fees as well. It also calculates the taxes and refunds as deemed necessary.
5. Automatic Reminder to Parents
Once the fees have been tabulated, the system can send automatic reminders to the parents through SMS or mail integration. This saves the time of the school staff as they no longer need to send fee reminders or late fee mails to the parents.
6. Easy Online Transaction
Once the parents receive the reminder for the payments, a fee collection module allows for them to make the payments from the comfort of their homes. Instead of visiting the school to pay the fees, the school management system has a preferred payment gateway. It allows for payment integration for the parents of the students to submit their fees online with no hassle.
For the schools too, they can collect the fees online, record it, and generate reports for their internal records.
7. Generate invoice and bills
An invoice, receipt or bill is essential for every payment. Once the school fees have been paid, the ERP software helps the school to generate an invoice with all the details of the fees paid. This invoice or bill can be customized according to the needs of the educational institute.
8. Safe and Secure
The fees collection module in the ERP software platform is highly safe and secure with all the information saved in a secure cloud system. The system not only protects data privacy of the school, but it has role-based access control which also prevents fraud or misuse of data. The system also automatically takes a periodic backup of all the data is an add-on relief for the school.
9. Benefits the environment
Automatic and digital fee collection enables the school to develop a paperless system. Since all the payment records, invoices and bills are maintained in a digital format; it helps to create a paperless system that is environmentally friendly.
10. Easily scalable and customizable
As compared to the traditional ways of fee management, a digital format is easily scalable, and it can be customized according to the needs of the school as well. As the educational institute grows with multiple campuses or changes brand logos, the school fee management system can be altered with these evolutions in the school.
Educating young minds and keeping their love for learning is a complex process. Therefore, schools need to concentrate their resources on creating the best learning space for students. Other tasks can be simplified through the use of technology. Transport management, attendance and fee management are some such tasks that can be made easier through the use of technology. It decreases the workload of the teachers and the administrative teams so that they can use their time and resources to give the best learning experience to the students.