At times, there arises a situation when the institution has to pay back a student, any fee amount or any admission fee as a refund fee. Your very friendly Fedena comes with a brand new feature called the Refund Fees which allows you to manage the entire process of refunding fees to students. Follow the article and you know how easy it can become to you, the entire tiring process of creating refund fee types and giving back money to all those students who want.
The Refund Fees Feature in Fees Management system
1. To go to ‘Fees Refund’, click on the menu bar and go to ‘Fees’ in ‘Finance’. Select ‘Fees Refund’ in ‘Fees’ and you land on a page with the different options for fees refund. A screenshot for the same is provided below:
2. When you want to create a new refund rule, click on ‘Create refund rule’. Create a refund name for the particular fee collection you want along with the percentage that you want for the refund policy and the refund validity date which is the particular date for which the refund will be available.
3. Once you create the fees refund, you can apply the refund for any student by using the option ‘Apply Refund’. Once you click on ‘Apply Refund’, you need to type the name of the student in the search box.
Click on the student’s name and select the fee collection for which the refund will be made. The student details will be coming along with the option to refund the money.
4. You can view the list of all the refunds that have been made using the ‘View refunds’ option. Click on ‘View refunds’ and search the refunds by dates with start and end date, by student name or by using fee collection name.
Make sure before any student asks for the refund of fees, that the student had already paid the entire amount of fees.