Top Hidden Features of Fees Management Software That Will Make Your Life Easier

Your employees use feature-rich MyEdu school management software and fall into a routine. In the process, one may not discover hidden features that speed up the process and improve relationships with parents.

Find out the top hidden features that live within the school fees management system and one can get the work done much more faster.

Fee Schedule

The innocuous-looking feature can help you streamline fee collection. Schools usually collect various types of fees such as tuition fees and transport as well as penalty for late payments.

They may not collect at the same time. This is where the fee scheduler can configure as regards the amount collected for each student, the dates by which such fees are due and reminders. Your fee collection becomes smooth as parents apprised ahead of time through automated reminders.

Automated Fee Reminders

This section is refined in that you can set dates and times to send out automated fee reminders and, in case payment received the software removes the students name from the reminder list to avoid embarrassment.

No one likes to receive a reminder after they have made payment and it becomes a cause for worry. They may start inquiring and then you have to spend time checking and assuring parents that it was due to software error.

Notifications Before the Due Date

Once you have defined the fee schedule you can also set the school fees management system to send out notification by email and SMS and allow users to access the payment link from within the message or use the school management app for fee payments.

Parents may delay reading emails but when you use SMS notification it is likely to read immediately and the reaction is quick. The rate of timely payments goes up, especially when you have the app for parents. It is intuitive, easy to use and gets the job done fast.

Variety of Payments

Sticking to only one mode of payment would be rather restrictive. Your school management app or online payment facility in the school fees software allows parents to pay using wallets, bank transfers, credit cards and debit cards with encryption security.

The payment channel also specifies which head the payment collected and accounted for.

Fee Receipt Download

Once the payments have been made either through the app or online, the software generates a fee receipt and is available for download. You can also send it by email to make sure.

Past Transactions Reports

If you look ahead to fee collection in time to streamline cash flow, it is important to be able to access past transactions.

This is done through the past transactions report module in which you can call up records about to a specific date or for a specific period. It comes in useful for analysis and to resolve disputes.

Real-Time Analytics

This is another useful feature of the fees module of MyEdu school management solution. You can derive reports and intelligence in real-time simply by specifying a few parameters.

For instance, you can know the time lag between sending out reminders and payment receipt. You can have intelligence on which parents make payments ahead of time and some parents who lag behind, must be given more attention.

You can do a lot more like cost-benefit analysis and decide whether fees to adjust or not. When you use the fees module to collect payments you may also carry out a mini-survey and use the inputs to know how satisfied parents are with the school and its services.

Money makes the school go round and fees are the chief revenue source. Use this module by knowing its features as described above and you will notice a jump in speedy collections.

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