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 they may not discover hidden features that could speed up process and improve relationships with parents. Find out the top hidden features that reside within the school fees management system and your employees can get much more done faster and with better effect.

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 be collected at the same time. This is where the fee scheduler can be configured as regards the amount to be collected for each student, the dates by which such fees are due and reminders. Your fee collection becomes streamlined with 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 is received the software automatically 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 directly 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 be 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 against which head the payment is collected and accounted for.

Fee receipt download

Either through the app or online, once payments have been made and credited to the school’s bank account the software automatically generates a fee receipt and makes it available for download. You can also send it by email just to make sure.

Past transactions reports

If you look ahead to fee collection in time to streamline cash flow, it is equally important to be able to access past transactions. This is done through the past transactions report module in which you can call up records pertaining 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 which parents lag behind and must be given more attention. You can do a lot more like cost-benefit analysis and decide whether fees should be adjusted. When you use the fees module to collect payments you may also carry out a mini-survey and use the inputs to know just 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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