Page 95 - Education World Dec 2021

EW SPOTLIGHT FEATURE

3 Steps to Building Efficient School

Fee Management Systems

n the past eig ht years reconcile the records of the
since inception, I have previous week and match the
I been maj orly involved amounts with internal reports
with schools in helping them and bank statements. his
T
develop their fee manag ement process will help schools fix all
processes and systems to inconsistencies.
make fee collection more
streamlined and error- 3. Monitoring: M onitoring
free. D uring this j ourney, I builds reliability and trust in the
discovered that fee records entire fee collection process,
in schools don’t match the which is a significant concern
amounts in bank account of the school manag ement. I t is
statements. With reminders pertinent to develop a reporting
not being sent on time, parents system that g enerates
don’t remember the ex act daily reports for the school
fee amount and pay incorrect manag ement. T hese reports
T
amounts. he list g oes on and should hig hlig ht the critical
on. elements of the fee-collection
Working closely with Danish Kundra process such as receipts
a larg e number of reputed C o-founder at School ad cancelled or re-g enerated,
P
schools enabled me and concessions g iven along with
my SchoolPad team to find details, backdated receipts
T
innovative solutions to all these g enerated, etc. his data will
operational difficulties. In this article, I effort can be put into this issue specifically bring more transparency into the system
have consolidated all these learning s and some clarity is built throug h proper making it more reliable. Now, these could
into a simple 3 -step process that will help training and documentation, then schools be a set of manual reports presented
schools build an efficient, error-free and will surely see the results. A system daily to the manag ement or automated
reliable fee manag ement system. will be created that will automatically ones mailed throug h the fee collection
take care of the accuracy of school fee software to key manag ement responsible
T
1. Build Clarity: his, in my opinion, collections and improve the payment for monitoring fee collections.
is the most crucial step which takes ex perience for parents. B uilding systems and processes
care of most of the problems during the takes time but to build and g row a
T
fee collection process. Some issues of 2. Reconcile regularly: his is the school, it is essential to have strong
concern are: Who will be collecting the second most important step, especially processes and systems so that school
fee? What will be the application process when you have multiple modes of fee manag ements and owners can focus
for g iving concessions? Who will approve payment ( online, bank deposit, cheq ue, on the g rowth of the school rather than
the concession and who can apply for it? cash etc. ) . K eeping a record of the spend precious time on fixing daily
Who can exempt fines? What is the fine receipts is j ust one part. I t is essential to operational issues.
ex emption process? Who assig ns the have a process in place to reconcile the I hope you found this article helpful. I n
transport fee? What is the process to opt records of the previous week, once in a case you are facing similar issues in your
for transport fee? And so on. week. school, do reach out to me at danish@
B asically, school fee collection teams Schools can select a day according to schoolpad. in. I would love to have a chat
need a ow chart that clearly explains all its settlement dates, considering cheq ue with you and work with you to resolve
the steps and roles. I f some concerted or online fee payments, so that they can these issues and make your life easier .

EDUCATIONWORLD DECEMBER 2021