In our Accounting management involves handling financial transactions, budgeting, and financial reporting for the educational institution. Effective accounting management within a school management system is critical to ensure that the educational institution's financial operations are transparent, accurate, and compliant with regulations. It also helps in making informed financial decisions and managing resources efficiently.
General Ledger: Maintain a general ledger to record all financial transactions, including income, expenses, and assets.
Accounts Payable: Manage vendor invoices, process payments, and keep track of outstanding bills.
Accounts Receivable: Handle student tuition payments, fee collections, and monitor outstanding balances.
Payment Processing: Accept payments through various channels, such as online payments, checks, and cash.
Invoice Generation: Create and send invoices to students and parents for tuition and fees.
It also includes Discounts, fee type, Due invoice, paid receipt, and expenditure.