MasterSoft’s Fees Collection Software For Institutions
Fees collection is the most tedious task for any educational institution and requires precise attention for calculations such as pending fees status, fees concessions, scholarships & discounts, etc. Moreover the manual fees calculations & collection process doesn’t guarantee 100% accuracy. Chances of errors while managing fees manually are tremendous which may impact the overall work procedure adversely. This is why switching to automated fee collection software is a smart decision for any institution. It not just delivers accurate fees-related calculations but also saves enormous time & effort of the administrative staff.
A fee management system is used as task management software that automates collecting fees and generating fee receipts. It eliminates duplicate data entries and minimizes errors when entering entries into school accounts. The system supports all sizes of public and private institutes.>
Online And Offline Fees Collection Software
MasterSoft’s fees collection software is a 100% safe and secure platform to deliver online & offline fees collection & other fees-related operations seamlessly.
MasterSoft’s Online Fees Collection Software
Designed and developed on an AI-powered technological framework, the fees collection software supports multiple modes of fees payment such as – debit card, credit card, net banking, etc. The fees amount can be transferred to the institution’s bank account online within 24 hours as per the norms of the Government of India with just a few clicks. Student Ledger is updated with student fee records & outstanding ledgers updated.
MasterSoft’s Offline - Counter Based Fees Collection
MasterSoft offers the provision of offline- counter-based fees collection as well. To make offline payments, students can visit the campus and pay the required amount of fees on the fees counter. The counter-based fees collection software auto-calculates the amount that needs to be paid or outstanding fees. The administrative staff just needs to take the amount and make the entry in the software for records.
Fees Management System - Challenges Vs. Solutions
Challenges faced by schools and colleges
- Advancements as per requirements of institutions
- Successful installation & implementation
- Budget constraints of institutions
- Time consumed for data transfer in the new system
- Fees-related report generation
- Hard to understand the navigation of the ERP
- Challenges of data security & privacy
Solutions offered by MasterSoft’s FCS
- Configurable solutions by MasterSoft
- Complete handholding & assistance
- Affordable fees management system
- Accurate MIS fees reports at few clicks
- Easy-to-use interface for fees management
- 100% data security & privacy assured
- Easy data migration provision to institutions
Fees Collection for Various Departments
Hosted on a secure cloud server, the automated fees collection software is integrated with the best payment gateways to ensure the safety of financial transactions. It enables institutions to collect various types of fees such as–
- Annual academic fees
- Examination fees
- Tuition fees
- Hostel fees
- Library fees
- Sports & extra-curricular activities fees
- Miscellaneous fees
The fees collection software is also powered with a mobile app to help parents & students pay fees from anywhere without any hassles.
Fees Payment Reconciliation
The administrator needs to keep a tab on daily fees-related transactions in the educational institutions. Payment reconciliation, that incorporates cross-check methodology is the best way to track everyday transactions.
MasterSoft's fees management system offers a payment reconciliation provision that helps the administrative staff in creating & managing internal documentation and records of the transactions through the ERP. The fees collection system cross-checks the bank statements with the amount deposited in the bank to ensure accuracy of the accounts & finances.
The time taken to complete the process is just a week which otherwise may consume a year!
Features Of Fees Collection Software
1 Simple Registration Process
Institutions just need to enter their email ID & mobile number to get registered on MasterSoft’s fees collection portal. If you have implemented MasterSoft's ERP software, you can directly transfer the entire fees-related data to the cloud. In case you don’t use ERP, there’s a provision to upload course & fees details online via Excel.
2 Precise Fees Calculations
The student fees collection software enables the administrative department to auto-calculate fees for various categories of students considering factors like merit, scholarship, concessions, religion, caste, etc.
3 Multiple Modes Of Fees Payment
Designed & developed with the latest framework, the fees management system offers multiple modes of fees payment such as - debit card, credit card, or net banking. The fee is processed & transferred to the institution’s account within 24 hours as per the norms of GOI.
4 Role-Based Access To The Staff
The online fees collection portal provides role-based access to the staff members to ensure complete data security & eliminate the risk of data theft in the institution. The admin can define access rights based on the position of the staff.
5 AI-Powered Analytics Dashboard
The fees management system enables the administrative faculty & higher management authorities to keep a tab on real-time data on daily fees transactions & generate fees collection MIS reports.
6 Fees Notifications & E-Receipts
The online fees payment software sends auto-generated pending fees-related reminders & notifications to parents every month or at a pre-defined time. Also, the fees software generates an e-receipt after every successful transaction & sends it to their registered email ID or mobile.
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Key Benefits Online Fees Collection Software
Centralized Platform For Fees Management
Reliability and Prompt Payment
Effective Sales Management
Management of records in a Transparent & Visible Manner
Quick & Secure Payments - Online & Offline
Multiple Payment Gateways
Quicker Processing of Fees
Better Insights & Transparency Of Work
Accurate Data Handling
FAQs On Fees Management System
The fees management system is an ERP software that is designed & developed to automate the fees payment & collection procedure. Educational institutions should adopt a fees management system for ensuring error-free fees collection & payment transactions.
The following list depicts the important features of the student fees management system-
- Pre-defining fee structure as per caste/category/merit
- Error-free fees transactions
- 100% accurate fees MIS reports
- Syncing with secured payment gateways
- Ensuring quick & reliable transactions
The following are the key benefits of using student fees management system-
- Centralized database
- Ease of 24*7 access
- Completely transparent platform
- E-receipts & notifications
- Integrated mobile app - FeePayr
- Data Backup & synchronization with other ERP modules
Fees collection software enables the administrative staff of schools & colleges to ensure hassle-free fees management - online as well as offline/counter-based collection. The software automates & simplifies the fees-related calculations & transactions within a few clicks.
For making online school fees payments, parents need to follow the given steps-
- Register themselves on the fees portal
- Login to the e-payment portal
- Make payment by filling in the required details
- Check the e-receipts on their mail/SMS