A fee receipt is a document given to a student or their parent as an acknowledgment of payment of school fees. Students can use this piece of paper to show that they have cleared all the payments and there are no dues. It helps to use a fee management software so that the processes are streamlined.
Educational institutions can use the fee management system to automate and manage the fee collection process. The software generates an automatic fee receipt after payment has been made. The software lists all the fee receipts for payments made by students, parents, and guest users. They can use the system to pay hostel, transportation, and other related fees.
A fee receipt carries the following details:
- Receipt number: After paying the fees, students and parents get a unique number called the receipt number. It is an acknowledgment slip.
- Payer name: It contains the name of the person who made the payment.
- Payer type: The payer can be students, parents, or guests.
- Batch/Department: It mentions the batch the student belongs to.
- Payment date: The date the payment was made.
- Amount: It specifies the amount paid as tuition fees.
- Payment mode: It specifies the mode of payment, cash, card, and online payment methods.
- Cashier name: The name of the employee who processed the payment.
Schools have various options to make fee receipts. The school management can take printouts of the receipt or provide e-receipt to payers. Also, they can design their own receipt online with a free online receipt maker. However, adopting a fee management system is the best way to have a hassle-free fee payment process. Visit Teachmint’s website to know about our fee management module and lms portal.