Importance
You can create a hybrid system where, for example, the digital transactions of the school are kept online while the cash transactions are kept on paper, but this will lead to wastage of time, ineffective tallying, human error, and ultimately, financial losses. If the management of fees is effective, it can provide the convenience of efficient operations. Teachmint’s simple, yet robust solution to fee management for all educational institutions helps save time and effort. All you need to manage your institution, in one smart bundle. If you were wondering how an institution can transition seamlessly from a workload-heavy offline setting to an online fee management system, fear not - we’ve got you covered.
How Can Teachmint Help?
- 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.
- Fee Collection
Fee payment can be done directly through Teachmint with absolute ease irrespective of the payment mode - whether it is offline or online payment. All that needs to be done is to use the fee management system for the same. Select the ‘Fee Collection’ option and follow the sequence of options to make the payment. It is quite foolproof and requires no previous knowledge, the process is as simple as it gets.
- Fee Installment Management
Different institutions may offer different installment options - some may pay the whole amount together, 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 generally offered by institutions are monthly, quarterly, half-yearly, or annually.
- 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.
- Fee Reports
Accessing the data of who paid what fees at what time is extremely difficult without a proper tallying system to keep track of it. Since there are so many methods of fee payment like UPI, bank transfers, debit cards, credit cards, etc., filing reports becomes 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.
Teachmint is known for taking something as uncharted and nascent as online teaching and making it digestible for all age groups and economic classes. Make your transition to the online space smooth and hassle-free - just like it should be.
FAQs
1) Can fees be paid from anywhere?
Since the entire suite of features for fee management is online, fees can be paid by the parents from anywhere, at any time.
2) Can institutions download fee reports?
Yes, institutions can download the fee reports, which will be customized for each school, and they can be stored and shared with ease.
3) Will parents get to know if they have forgotten to pay their wards’ fees?
Parents will be sent reminders with respect to the fee amount, the last date of submission of the fees, as well as notifications after the payment is processed.
4) Is there an option for fee concessions?
If the institution wants to give fee concessions to certain students, they have the option to do so by creating a separate category for it and keeping tabs on who can avail it.
5) Is it possible to customize the fee structure for individual students?
If there is a need for such customization, Teachmint has the necessary tools to do so easily and effectively without any hiccups.
