Benefits of using Fee management for education institutions

Schools are moving ahead towards digitalization and adopting new strategy of collecting payments through cloud and mobile based fee management technique. It would be important for any type of public or private institutes to automate their fee collection and earn great revenue, while saving manual work.

What is Fee Management?
A fee management module as its name indicates an important module of school management software that specially designs to control the functions and calculation of fees. As we know that human work contains a lot of errors so we can’t rely on this result based work. A fee management module of school software will provide error free results and manage the account of every student individually.

Some key benefits of fee management are:-

Easy to use without any external aid
Fee management is a user-friendly system that can easily implement in a few steps. It helps user to feel comfortable and easily handle fee processing in a paperless environment.

Manage details of each student individually
Fee management module of school ERP software will create profile of each student individually with demographic information, contact details and parent’s information’s. It tracks and post fees of hostel, library, admission and other activities in students account.

Secure online payment gateway
It provides parents an easy and a secure way of fee deposition. It helps parents to easily deposit their child’s fees through their mobile phones as well as helps school to collect fees through online payment gateway. It also generates fee-receipt that parents should keep with themselves for future reference.

Easy Customize and flexible.
Fee management modules allow customizing fee structure based on the needs of schools. It provides flexibility to add or edit fees, set discounts and collect penalties or fines with ease.

Generate reports
The advanced feature of this module generates reports and analytics of each student individually on monthly and yearly basis. As well as provides fast and automatic backup and online/offline synchronization of data.

Send notifications to parents
One of the important features of this module is that it helps to build an effective communication between parents and schools. It keeps parents informed about fee payments through real-time notifications and messages and also sends information about late fees, fines and other details to parents.

Managing fees is undoubtedly one of the most hectic and time consuming task for school's administrative department. Hence, fee management module can cut down their cost to zero. Chalkbox brings excellent school management software that not only manage student’s fees effectively but also helps to manage various important things of schools that should be used in day-to-day working.