Fees Management feature provides a complete and comprehensive control over the school fees with all types. It provides flexibility to add fee type as needed. So, if you need to add tuition fees you can add tuition fees fee type and if you would like to add admission fees you can add admission fees fee type.
While adding the fee type you will specify the payment mode whether it is to be collected annually or once. So for example, the admission fees are only collected once per student so you choose the payment mode to be once and the system will only collect the fees once. On the other hand, if the fees are to be collected annually, like tuition fees, then the system will collect the fees annually per student.
Each fee type will have a debit and credit account to get associated with when the system collects the fees and then post the payment entries in the general journal so that the system integrates properly with the financial accounting system and reflects the payments in the financial books.
Fees Management also provides the tools to build the fees structure for each school per academic year. You will specify the amount to be collected on the grade level for each fee type.
The system will automatically detect the amount of fees to be collected per student per academic year and provide you with the tools to collect the specified amount for each student giving you the options to apply discount or fine per each fee type.
Once the fees are collected it will reflect automatically in the collection reporting system which will provide you with 360 degree reporting view for the collections. It can report the collections per fee type or by receipt or even per student within a specific school and academic year.