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School accounting software brings both the parents and administrators together by digitally showing tuition fees, session charges, income, and expenses.
Financial management is the biggest challenge for any company! Effective and accurate accounting is an integral part of financial management. Whichever industry your business may belong to, you can’t escape bookkeeping. Traditional bookkeeping isn’t a solution for anyone in this modern age when time is flying like an Eagle. To keep pace with time, schools and colleges have opted for school accounting software to simplify the bookkeeping tasks.
Brings Parents And Administrators Together
The software monitors all the financial transactions from student’s fees to teachers’ salaries to grants/donations received. With properly entered data, it automates invoicing and payments on your behalf. It helps the parents by showing the tuition fees and any extra charges if applicable. Giving a detailed breakup of session charges, stationery, books, and other charges it provides better clarity. Online payments save the time and effort of both administrators and parents from traveling to schools and banks.
Features Of A School Accounting Software
1. Tuition fees management – Keeping a track on the tuition fees received and the fees due, the software instantly intimates the parents of the students whose fees are unpaid.
2. Scholarship payments – As per the scholarship percentage and amount entered into the database of the software, it automatically makes a list of eligible students and the amount to be paid to each of them.
3. Student profiles – Each student has an individual profile for the ease of both administrator and parents to keep a check on the payments made and pending invoices.
4. Expense tracker – Schools and colleges incur multiple expenses to run their institution smoothly. Upload the expense bill or enter the expense amount to keep track of the total amount spent. It automates payment of recurring bills.
5. Bank connections – Maintaining direct connections with the bank, accounting software monitors all transactions and directly transfers revenue received via online payments into the respective bank accounts.
6. Web-based accounting – The software brings all your school/ college financials at your fingertips with web-based accounting. Access any detail you want instantly from the location you are at without having to call the school office.
Secured School Financial Handling
Handling all financial transactions and preparing expense ledger, income ledger, trial balance, assets ledger, tax reports, and balance sheet; school accounting software by WordSys Information Technology relieves the school administration of complex accounting responsibility. Coming with a high level of data security feature, school accounting software by this leading IT and software development brand stores and protects all your information comprehensively at one platform.