Higher Education Financial Management Software
Financial account management system automates the accounting of multiple schemes and cashbooks for end number of financial years. Finance module links fees with other modules like Stores, Hostel, Payroll and entries.
Features day to day account entry and account reports. Accounting and financial management can administer the creation of cashbooks, ledger heads, cost centers and account heads.
1. Higher education accounting software can do the following day to day entry of :
Online Receipt of-
- Entries can be transferred to the Accounts module while collecting fees.
- Payment Vouchers
- Contra & JV voucher entries
- Fees Collected
Transfers between modules like-
- Student Fees to Accounts module at the day’s end; the software allows one entry per student per fees head or only just one summary entry of all the fees collected in a day.
- Payroll entries to Accounts
- Stores’ bill transfer
2. Reports of financial management system that can be generated are-
- Cash, bank and day books
- Ledgers and trial balance
- Balance sheets, Receipts and Payments
- Income and Expenditure Statement
3. Accounts Configuration-
- Single Mode receipt / payment / Contra entry
- Per entry narration or single narration
- Auto generated voucher number
- Enables SMS for every payment transaction
- Facility to upload voucher scanned copy with every transaction
- Auto-generates schedule number or manual numbering
- Allows cash in hand and Bank ledger for JV Entry
- Auto generated ledger code
- Auto generated cheque range
Fees collected for academic curriculum, exams, hostels, certificate gets archived within this module of university financial management system. Student Fees’ sub-module can generate receipts, challans and reports; likewise.
Scholarship and Stipends
Based on student type/ admission type; finance management software of higher education erp provides an additional functionality to store/edit/manage data related to scholarships and stipends. Reports are mostly needed by the management or government. The software defines stipend types and monthly bill preparations.
Budget and Bills
This sub-module defines flexible budget heads, purchases and sanction notes. It is integrated with the core accounting module for payments and cheque printing.
Feepayr is an online and in-campus fees collection portal. A secure, smartphone enabled user-friendly platform. Payments transacted by students online or in campus gets deposited directly into the University’s bank account.