Features of School Fees Management System

The finance department of schools is concerned with fee collection and its management. The non-revolutionized school fee management system witnessed a department of a few members struggling with figures in their work. Their task required proper attention and careful quality checking. The consequence was the expense of extra energy, fatigue, and less quantity of complete work. Many departments in the school, including fee management, require modernization and digitalization. Teachmint's innovative approach introduces a tool highly suitable for modern schools. The results procure quality work owing to the numerous benefits of the system. Learn about the benefits to gain more efficient insights into the fee management system features.

Teachmint’s Fee Management System Features for Schools

Teachmint’s system for fee management has been designed keeping every aspect and school requirement in mind. There are three major sections whose features will be stated individually. These are fee configuration, collection, and report generation.

Fee Configuration

It is the section that deals with setting up the rules of fees and viewing the same. Here are the features:

Create structure

It indicates the amount of fee to be taken at a rate from a class. It includes:

The school has three types of fees: recurring fees, one-time fees, and transport fees.
Also, there are different levels in the school where not every student must pay every fee.
Some fees need to be paid within a certain time limit, while others don't.
The fee structure may require depositing a particular amount or some percentage of the pending fees.

Thus, the ability to select the right combination is one of the necessary fee management system features. The Teachmint platform provides multiple and relevant choices available in a logical and step-wise manner to ease the decision and selection process.

Visualize the structure and class view of the fee distribution

The created structure needs to be visualized in certain formats for easy interpretation. Thus, Teachmint allows users to:

View the fee distribution according to its type (picnic, examination, and others) and class.
Gain information on applicable classes, receipt series, and due dates for each specific fee type.
Have individual information on the total amount collected from each fee type
Know the tax percentage (if any)
Update the changes as per the change in rules or structure.
Automatic and spontaneous reflection of changes in information
Gain class-wise submitted fees with the above-mentioned information.
Know the fee category with the list of fee types applicable to classes.
The appearance of installments with complete calculation

Deal with offers, discounts, and fines

Managing discount offers and fines is much easier with Teachmint's fee management solution. It enables you to

Create fines and discounts by filling in all the details.
Get separate and tabulated views for standard discount, fine type and add-on discount.
Provides well-suited and relevant information is provided in each category
Effortlessly search for information from the long list of students.
Download, delete, or modify the list.
Labeled fine for better insights

Provide payment gateways

These introduce the available and accepted payment software associated with Teachmint. The features are:

Quick payment methods
Transparent information services stating the applicable charges
Secure transfer of money
Known and reliable providers
Efficient customer service to immediately resolve the queries
A step-by-step guide to transactions stating every instruction
User-friendly interface to effortlessly interpret the action
The verified transactions with confirmation messages for cross-checking
Generation of receipt to keep the record
Sign up on the preferred platform for complete proof, verification, and offer information.
No room for discrepancy or fraud

Manage previous session dues.

Schools always have certain students with previous fee backlogs. Managing and keeping their record is necessary to know the due amount. Thus, the served features here include:

Import previous data regardless of being existing or non-existing Teachmint user
Select the desired receipt numbers for the highest accuracy and precision.
Step-wise instruction information on do's and don'ts for operation by non-Teachmint users
Select a specific set of fees rather than working on the complete data.
Upload a '.csv' file for better compatibility with excel.

Customize the receipt and other fee documents

The different types of receipts require different structures. Often there are multiple formats for specific receipt types. Selecting all of them is easy with the advanced Teachmint's fee management system features. The eye-catching features are:

The system offers the ability to customize payment receipts, demand letters, online payments, transport fees and fee collection settings.
Design the fee receipt layout and decide the information suitable to be printed on them.
Accept partial, advanced or complete fees based on the school's requirements and student needs.
Choose the duration to begin charges of transportation fee.
Accept or prohibit backdated fee payments as per the convenience
Customize the tool and representative receipts according to the school.
Effortlessly decide the structure of receipt by deciding the breakdown of the information.
Automatically updated receipt generation for any class or student

Fee Collection

The section deals with the collected debt and overall fee amount. It covers multiple aspects of fees and helps in visualization.

Teachmint's fee collection comprises two sections, including fee collection, transaction and cheque/DD management.

Get Fee Collection Overview

It provides both a detailed and quick overview of the fees. The clickable options provide detailed information. The beneficial features in this section are:

Get an accurate information overview of applied fees, discounts paid, and the remaining fee amount for the school.
Total and due amount information available at a glance for all the classes
Filter the information based on fee type.
Check each student's credentials.
Facility to send reminder
Visualize the information through filters for selected information.
Search for the information from the list.
Quickly get a demand letter for any student.
Direct link to student's general and specific profile by a simple click
Detailed insights into student fee details with the time period of overdue fees
Complete information with installment-wise student fee credentials
Go to any class from a sorted list of classes.

Manage Fee Transactions and Cheque/DD

It provides student-specific transaction details. The numerous features available here are:

Ability to select the date range for transactions status
Every required transaction detail available in a categorized form
Different filters to select the required set of information
Class, receipt, and taxation ID-wise transaction with mode and status of payment
Easily copy-paste the taxation ID for validation.
Check disbursal and cheque/DD-related information
Download or cancel the transaction in case of issues.
Check the student's profile in this section too.

Fee Reports

Teachmint provides automatically generated fee reports in the best format. The features of fee reports are:

Graphical and colored representation of student fee and fee amount overview
Switch between installments and classes for specific information.
Gain multiple types of reports depending on payment collection, paid and due amounts, along with class, department wise, and multiple other segregations.
Apply different filters in any report for better precise information.
Reliable reports n easily interpretable form
Check the reports for any session.
Download any type of fee report.
Automatically calculated information with 100% accuracy.

12 Amazing Benefits of Teachmint's Fees Management System

The numerous features aid the schools in driving multiple benefits. The direct beneficial effects are evident in increased work speed and less fatigue as the employees are not required to do redundant work all day. Moreover, the digitalization aspect further helps in generating reliable fee-related outcomes. The various benefits offered by Teachmint are:

1. 100% Accuracy

Humans can make mistakes, but machines don't. With the incorporation of developed programming languages with constant updates to rectify the bugs and introduce new features, there are minimal chances of errors. The accuracy and reliability of machines are due to the ability to decode the letters, numbers, and errors often incomprehensible by humans.

2. Enhanced Efficiency

The automation or lack of manual intervention leads to a decrease in efforts required to maintain the work quality. This provides time for the employees to focus on more important tasks and creativity. It allows them to look over the completed work with different perspectives allowing them to draw conclusions significant for school growth.

3. Automatic Generation of Reports

The automatization of fee management includes a component, which is report generation. These reports provide summarized information suitable for a glance at any busy day. It saves time and provides insights into the data. The reports can be further utilized to check the patterns of fee collection, the preferred mode of payment, and other such details, further customizing the school fees management system.

4. User-friendly

The system does not limit any age group to attend the tool. Rather, the user-friendly design allows the creative and easily comprehensible arrangement of categories that can be easily looked for. Similarly, the addition of search and filter functions in the tools allows immediate access to the particularly required data.

The tabulated representation is organized, clear, and spaciously arranged to avoid clustered information. The columns in the table can be sorted by clicking, thus facilitating viewability and usability. Rows in the tables are clickable to provide a student profile without redirecting to a different page, decreasing the fuss. The sections in the fee management portal provide both summarized and detailed information at one stop.

5. Better Data Security

Comparing the modernized fee management with traditional ones, we see a drastic change in the security system. The traditional fee management approach was worked upon on the paper registers, easily checked by numerous employees. It was prone to loss and damage, costing entire data.

The modernized school fees management system is a cloud-based approach that allows the simultaneous working of multiple individuals. Considering multiple user access and availability of information on the web, the tools are designed with enhanced security to avoid any stranger penetration. The backup allows easy retrieval of data in case of any hardware or software damage. The network security, in combination with antivirus, allows maximum protection of the fee data of the school.

6. Multiple Account Management

School fee management isn't only linked with figures and digits. Few students also take up transport services, hostel, picnic facilities, and other such services. Therefore, the finance department requires other information as well. And vice versa is for the admission and administration department and a few staff members. Thus, account management is a crucial part of the automated system for fee management. Teachmint's portals are curated with care, therefore, forming fee management portals’ associations with student profiles. The information is interlinked and easily accessible for anytime usage by any person at a particular job profile.

7. Controlled User Access

The system needs to be accessed only by finance department members. The viewing options, however, are necessary for other staff members. Thus, controlling access is necessary and possible through Teachmint's system for fee management. The control access is job profile based and easy to perform.

8. Quick Payments

The automated fee management systems are a handy tool providing effortless payment options through multiple gateways. These gateways provide effortless transaction pathways easing the facility for students' parents. It also eliminates the requirement of standing in long lines to pay fees.

9. Real-time updates

The automation features quickly update the information in the system allowing real-time updates to the authorities. It eliminates the requirement of waiting for the transaction or day's report at closing hours of the office. It also benefits the schools by taking timely required actions.

10. Automatic Notifications

It is one of the beneficial fee management system features. The notification is generally required on the need to pay the fees, deadlines, or remaining amounts. The option of calling and informing the parents is impractical and embarrassing. Thus, Teachmint allows the automatic generation and sending of student-specific messages to their parents, regardless of the app available on their phones.

11. One-Stop Payment Tracking

We understand that not all parents prefer UPI or instant payment services. The schools receive large cheques and DD, which complete transactions after a few days. Considering these, it is necessary to track the information and keep a record of the details. The separate categorical representation provides an overview of these benefits to the school's staff in gaining timely updates on the status of such transactions.

12. Sustainable Approach

Considering global climatic conditions, the automated approach is eco-friendly and sustainable. Moreover, it also protects from environmental damage resulting in data loss. Also, paper-based data is difficult to analyze and spontaneously generate reports.

Unlock The Complete Potential of Teachmint's Fee Management With Exceptional Assistance

Teachmint's service comes with every possible assistance to ease the collaboration. Often new people are reluctant to explore the tool, which leads to a lack of awareness of possible functions. Also, an introductory session is important not to waste time searching for the functions while using. Thus, Teachmint provides assistance in below mentioned ways to all the subscribers of any of our services:

Guide: The schools purchasing our tool can expect in-person guidance sessions by Teachmint's representative. They will explore each feature for all the employees, stating their usage, functionality, and significance. The will also be open to all the queries of new users. The school authorities can decide the day for the meeting based on staff attendance or suitability.

Help: The help section is a link of connection between Teachmint and the user. The latter can select from multiple options provided to the users. They can chat, contact through calls or mail and send feedback. The users and school authorities can also raise a ticket specifying the module of the problem, ticket type, title, and description. We also provide a tracking option to check the number of resolved and in-progress tickets that can be dealt with further.

Help Videos: The working hours know no bounds for important work or meeting deadlines. Disturbing others for assistance at odd hours is not professional and is unrecommended too. Users can rely on the help videos provided in each section at those moments. These provide a step-by-step guide to users stating the functionality of Teachmint.

Call Back: Apart from these, there is another option stating 'request a callback.' It will automatically generate the ticket with the same title. Users can expect a callback on their registered number within thirty minutes.

Key Takeaways With Teachmint’s fee management system features, you need not look for another tool to manage your finances. The software is an Integrated School Platform that caters to all your needs in the most efficient manner to bring out the best of your school.