Importance of School ERP Software for Fee Management

Posted by - Avni Bardiya, October 17,2021

School ERP Software for Fee Management

To keep up with the rapid growth of technology, educational institutions must embrace and use online school management-based systems. In the current context, employees work from home and students attend lectures from home. When the lockdown was initiated because of the never-ending COVID-19 outbreak, parents and even well-known schools encountered difficulties at first. One-stop shop for all educational institute activities, the web-based school management system was a lifesaver.

Yes, school management software was in use even before the pandemic, but lockdown made it easier for schools to fully adopt these innovative technologies, and now, even as new school sites open, educational institutions are glad to use an online school administration system.

Managing a student's financial data digitally is made easier using an online school management system's online fees management system. There are several payment channels in the fees management system, and this module allows schools to keep track of all of the different price structures, generate receipts for the fees, modify the receipts, and monitor and audit their fees. There are numerous difficulties in managing fees manually, but school management software makes it much easier.

Let's find out how school management software simplifies fee management systems:

1) Reduces the amount of effort and time

The physical fees-related work is a lot of hassle and takes a long time. Because parents have to run to the schools or the bank to pay the fees, this is a major inconvenience for everyone. To save time, online fee systems automate the student fee record, from registration to generating receipts, all of which can manage. No matter it’s a school or college, it handles everything related to payments. 

2) Calculation of charges automatically

Student fees record administration is a difficult task because of alternatives such as fees amounts that are dynamic according to different standards, online learning, hostel costs, scholarship programs, fees for university libraries, and management of student transportation expenses. Due to the initial configuration of fees structures and related features like fees invoice, refunds, and expenses being completed with minimum effort after basic settings in online fees management software, everything is accomplished in this manner with ease.

3) Regular updates and notification 

Ordinarily, parents have to keep track of the termly fee dates and pay the fine if they forget. However, fees management software reminds parents of the end dates, as well as sending them real-time notifications. Just after when fees are paid and generating online receipts for payments made. Some integration helps schools gain good feedback from parents.

4) Secure fee transactions with online fee payment

Paytm, PayUmoney, Hdfc, debit cards, credit cards, and net banking are just a few of the handy payment channels available to parents. They can also pay the fees using UPI money transfers utilizing applications like Phonepay, Google pay, and many others. In some circumstances, parents will be notified through email when the transaction has succeeded or failed, depending on when it was finished. This aids schools in gaining the confidence of parents while also allowing them to manage student data online.

5) E-receipts save paper because they are online

The educational institutes deliver their standardized receipts copy and preserve a copy of the same with them during the physical fee-paying procedure. One of the most useful features of the online fees management system is the ability to generate instant e-receipts. Once the fee is paid online, the parent receives a copy of it via the mobile app. Aside from banks, even the schools can make invoices public for parents who want to pay their tuition in those institutions.

6) Manage fees in installment

Nowadays the parents are ready to sacrifice their everyday wants to educate their child at the best institutes. So to minimize the load on the parents using this technique the schools might provide the option of fees payment in installments. Hence paying the fees collectively yearly, the parents can pay the costs in the installment and organize their budget accordingly.

7) Analyse with several reports:

Earlier if the auditors or the management wanted to examine the summaries of the termly fees for the status of students’ financial history then they needed to check in the various register. Now the finance team may examine it in the online fees management systems of numerous data with customizable filters and reports. The management team has been given customized dashboards where overall summaries of businesses reflect with eye-catching graphics and pie charts.


In the current generation educational institutes, online-based fees management is one of the must-have features of schools, because NLET helps right from managing students financial registration to, online fees payment, e-receipts, automatic fees calculation, regular alerts in form of SMS, e-mail, or push notifications, secured transaction. So without any queries or hesitations, NLET school management can go for it.

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