What is a “Fee Schedule”?

Overview

A Fee Schedule is a tool used to manage and streamline the fee collection process. It serves two primary purposes:

1. Reminder for Timely Payment: Alerts parents to pay fees within the defined schedule.
2. Default Management: Identifies defaulters and applies fines for late payments.

The fee schedule allows administrators to define payment start dates, due dates, and end dates. Once a schedule is created and fees are collected under it, the schedule cannot be altered. This ensures accountability and accuracy in the fee collection process.

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How to Create and Manage Fee Schedules?

Accessing the Fee Schedule Section

• Navigate to Settings → Finance → Fee → Fee Schedule.
• Select the Fee Schedule option to open its configuration window.

Creating a New Fee Schedule

1. Locate the Add (+) option in the top-right corner of the Fee Schedule window.
2. Click the Add (+) button to open the schedule creation page.

Defining Fee Schedule Details

• Schedule Name: Provide a clear name for the schedule (e.g., “Term 1 Fees”).
• Applicable Class: Select the class or classes to which the schedule applies.
• Installments: Specify the number of installments for the fee schedule.

Adding Installment Details

• For each installment, define:
  • Installment Name (e.g., “First Installment”).
  • Start Date (the beginning of the payment period).
  • End Date (the due date for the installment).

Saving the Fee Schedule

• Once all required details are filled, click Save.
• The fee schedule is now active, and fees can be collected under the defined installments.

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Important Notes

• After a fee schedule is mapped and fees are collected, it becomes non-editable to ensure accuracy in record-keeping.
• Late payments beyond the due date will automatically classify the student as a defaulter.
• Fees collected under a specific schedule will reflect in reports for that schedule.

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Benefits of Fee Scheduling

1. Structured Payment Process: Enables timely reminders and organized collection timelines.
2. Defaulter Identification: Simplifies tracking of overdue payments.
3. Compliance and Transparency: Prevents unauthorized modifications after fee collection.