Financial Management System
- This module helps to simplify fee collections, automate transactions and provide in – depth financial reports.
- Financial management system basically helps institutions automate and streamline the processes involved with fee – collections. Staff can keep a real – time track on fee invoices, payments and pending fees.
- It is also possible to generate various fee structures, customized reports, and fee receipts. The system can send instant reminders to parents in cases where fee payments are not done.
- It is the safest and most straight forward way to manage all payments, automate fee calculations, and reduce the risk of fraudulent transactions.
- Besides this, this system can also help institutions manage spend – per – pupil, budget – allocation and plan spending through intelligent reporting.
a) Complete Fee Management
- SIS incorporates differenttypes of fee structures followed by different institutions.
- It is possible to schedule fee collection dates and allocate fee amount to be paid based on student category or course selected, in a few clicks.
- Institutions can create masters for fee – particulars and discounts to avoid the complexities of dealing with multiple fee heads.
- Students/parents can pay fees from anywhere at any time.
b) Fee Receipts and Advance Fee Payments
It is possible to:
- Design templates for fee receipts and customize headers and footers.
- View student, employee and guest fee receipts from a single dashboard.
- Invoice for all pre – scheduled fees (general, dormitory, and transportation fees).
- Collect fees in advance and use it later for future fee payments.
c) Fee Defaulters and Online Payment
- Institutions can check the defaulters report and remind students/parents about pending fees via SMS/email.
- Fees can be collected online by integrating SIS with available Payment Gateways.
d) Fee and Other Finance Reports
It is possible to:
- View income and expense transactions for all accounts under transaction reports.
- Record the institution’s everyday transactions by creating custom categories.
- Generate particular – wise student and daily transaction reports and payment mode summary report.
- Compare financial transactions of two different periods and generate the tax collection reports in one go.
e) Discounts and Tax Calculation
This module can:
- Provide fixed/instant discounts along with late fees/fine collections.
- Enable tax on all types of fee transactions – general fees, instant fees, transport, and dormitory fees.
- Enable employees with relevant access/editing rights to initiate, refund or revert fees if/when authorized .
- Create and manage applicable taxes.
f) Other Finance Transactions
Besides management of fees, this module can help manage other transactions such as:
- Calculate staff reimbursements, and generate slips for staff.
- Create multiple donations and administer asset liability management.
- Provide specific controlled access to users to access finances.
- Group various transactions under fee accounts.