Improve Money Management Between Trusts and Colleges

Integrated modules enable a single platform for each activity while combining different departments- admission, hostel, library, transport, etc. Simplify every day activities by planning, allocating, organizing, and having complete control of the financial activities in colleges and universities with centralized software.

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Robust Analytics

Get access to detailed data analytic tools backed by AI, offering detailed financial information about the institute and coming with built-in reports.

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Easy Customization

Get configurable solutions where the universities can make changes in the system as per their scalability and accounting needs.

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Complete Integration with Other Software

Easy integration with the student information system, online gateways, HR payroll system, etc. for gathering data and maintaining a smooth budgeting process.

Reduce Workload by Avoiding Lengthy Manual
Calculation in Excel Sheets with an Automated ERP

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Fee Management

Designed on an AI-powered framework the fee management system supports various modes of fee payments, including credit cards, debit cards, net banking, etc. The fees paid are transferred to the institution’s bank account within 24 hours as per the Government of India norms, in just a few clicks. After the payment, the student ledger gets updated with student fee records and outstanding ledgers.

The admin staff can manage and create fees institute and course-wise, manage numerous collection centers, and create reports accordingly. The cloud-based fee management system is integrated with the best and most reliable payment gateways to ensure 100% safety of financial transactions.

Different types of fees are collected such as annual academic fees, examination fees, tuition fees, hostel fees, library fees, sports & extra-curricular activities fees, and miscellaneous fees. Also, various types of fee-related MIS reports can be generated, including daily fees collection registers, fees write-off reports, outstanding fee registers, bank-wise fees collection reports, fees abstract reports, and canceled fees receipt reports.

Asset Management

Effectively manage assets across departments with full control over disposal, capitalization, and depreciation. Make use of automation to reduce the time admin staff works on routine tasks such as depreciation processing. Systematically integrate asset tracking with accounting, procurement, and related financial functions for complete visibility and financial control.

With a real-time asset register, institutions can get rid of manual auditing of assets, by automatically knowing the quantity of the equipment available to them. Track and maximize the usability of school equipment such as computers, books, etc. ensure that the equipment needed for smooth operation of the academic institute is always in a working condition. Also, ensure the availability of assets such as science lab equipment and laptops to instructors and teachers.

With better asset management, schools or colleges can significantly reduce their spending on the replacement of stolen or lost assets as well as accurately track the spending across different departments. Build a central data repository for all critical assets and get rid of complex paperwork required to track assets. Prevent spending on duplicate assets by getting access to the school’s asset register and avoiding spending on equipment which is already there.

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Financial Accounting

Manual accounting and paper based ledgers are unreliable methods. Financial accounting system gets the true financial picture with real-time data. The financial module is centralized and up-to-date as well as is connected with accounts from different departments. Also, it helps in managing income and expenses of the institute.

Financial account management system automates the accounting of different schemes and cash books for the end number of fiscal years. Finance module links fees with other modules such as Hostel, Payroll, Library, etc. Get comparative analysis based on various expense heads. Generate extensive reports as per requirement.

Procurement Management

Procurement challenges faced in schools and colleges posed by outdated processes, budget cuts, and limited purchasing resources can be resolved by e-procurement management. It helps the institute's purchasing department in enhancing efficiency and achieving better cost savings. It offers a configurable and secure solution to streamline the college purchasing process.

Improve transparency and achieve improved cost savings via document management and automated supplier management. Drive efficiency and enhance control throughout the entire procurement process of the college. Understand which suppliers provide the best value and focus your spending and streamline approved suppliers.

An integrated cloud-based software, combines sourcing, proactive risk management, supplier management, and contract management of the institute with transactional procure-to-pay features. The academic institutes can leverage vital data when making insightful decisions while proactively managing ongoing activities from source to buying cycle.

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Billing Management

Avoid relying on MS Excel to outline, record, and break down an institution's finance with configurable accounting software, which seamlessly manages the billing of the school or college. The system is multidisciplinary and customized to the different needs of the institution.

Improve invoice accuracy and receive payments faster than before with automated billing software. Post bills straight back into the accounts for accurate reporting. Create, manage, and send bills online while preventing any errors. Also, set bills on a recurring mode for purchases that happen at regular intervals.

Enable transaction approval easily and verify the bills before they reflect in the institute’s bank accounts. Improve the accounting accuracy and thereby eliminate the risk of processing incorrect transactions. Instantly create a bill at a mere click of a button once a purchase order is finalized, which makes the billing process smooth and simple.

Features of Finance Management System

  • User-Defined Rules

    Generate calculations for provident fund, house rent allowance, professional tax, dearness allowance, company leased accommodation, etc.

  • Easy Fee Collection

    Set various predefined fee structures for different categories of students & courses based on the fee concession & enable online payment via the portal.

  • Automated Accounts Payable

    Generate invoices from the vendors and ensure that the correct amount is paid to specific suppliers in a timely manner.

  • Manage Student Accounting

    Integration of the system with student information system and student management system, which gives reports of scholarships, refunds, payments, etc.

  • Online & On-Campus Fee Collection Portal, Feepayr

    Feepayr is a smartphone enabled platform from where the payments can be transacted by students, online or via campus, depositing directly to college’s bank account.

  • 100% Security

    Get utmost security for confidential financial data of the institute with constant data backup on cloud, which can be easily accessed during breakdown of hardware storage.

FAQs On Finance Management System

1. What is a Finance Management System?
A financial management system helps in managing income, assets, and income in an institute. It maintains audit trials, reduces accounting errors, and ensures compliance with applicable accounting standards.
The purpose of a finance management system is to ensure long-term enterprise sustainability and maximize profits.
  • Improved financial management with well-built dashboard
  • Robust data analytics tools backed by Machine Learning and AI
  • Simpler and error-free payroll management
  • Provision for customization
  • Integration with other systems-HR, payroll, fee, etc.

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