Fee Management and Online Fee Collection

Fee Management and Fee Collection

  • Teachmint
    Teachmint

How to Ace Fee Management?

Teachers have gotten used to online teaching and it has become the new normal. Schools, colleges, coaching centers and other educational institutions have opted for online teaching and online classes. The shift was sudden, unavoidable and the resourcefulness of teachers and the authorities has helped them to make it through these testing times.

With the numerous features Teachmint provides, such as online whiteboard, live class recording, classroom tools, attendance management and more, educational institutions, teachers and tutors can focus on the important aspects of teaching.

Fee management, online payment and fee collection is another major concern for educational institutions. Keeping track of the students who have paid, reminding them about payments, maintaining reports and likewise, is time-consuming and hectic.

The latest Fee Management module in Teachmint puts an end to this concern. Fee collection and online payment will no longer be problematic. Let us take a look at how you can manage fees and online payment with Teachmint.

1.Fee Category Distinction

Fee categories are one of the most important things to keep in mind when working with the fees of academic institutions. There might be a multipronged fee structure for different students. Teachmint offers the easy allocation of fee categories in an extremely convenient way. It is more dynamic, fast, and easy to categorize than ever before! Another important aspect of fee categorization arises when deductions are given to certain students by the institution. For example, discounts may be given for getting a scholarship, student references, students who are children of teachers studying in the same institution they are teaching in, reservation discounts, exemptions made for economically weak students, etc. These can all be separately categorized and organized with Teachmint.

2. Fee Installment Management

Different institutions may offer different installment options - some may pay the whole amount together, and some may offer half-yearly, quarterly, or even monthly options. Keeping track of who is paying in what installment will become difficult - which is where fee management software comes in. With Teachmint, you will be able to manage all the different installment options with little to no physical paperwork. Fee installment options offered by institutions are monthly, quarterly, half-yearly, or annually.

3. Automated Reminders

With the hectic work schedule of today, parents and school staff are buried in their own world of deadlines, meetings, and PPT presentations. So, it is only natural that parents might forget about the timely payment of fees of their wards. However, this can pose a problem for the administrative staff at school as their work will get delayed. The parents may also have to face penalties for late payment. However, a timely reminder can come to the rescue - Teachmint offers an automated messaging system that will send reminders to the parents regarding the last date for payment of fees.

4. Fee Records and Receipts

There are so many methods of fee payment like UPI, bank transfers, debit cards, credit cards, etc., filing reports might be hectic. This is where Teachmint comes in - everything from the amount payable, the amount refunded to the amount provided as a discount; all of it can be generated seamlessly and without any hiccups.

As mentioned, fee collection is usually a time-consuming process. However, with Teachmint, fee collection is simple and effective.

Read more here.