Educating is a social service. Yet involves finances to share knowledge.
School Accounting ERP System India ensures to put less efforts in managing accounts. So that there is more concentration on providing quality education.
No pain No Gain is now No Money No Gain
Students need teachers to learn. Further, teachers need a salary to teach. Thus, admins take money from parents of students and provide to staff. But finances are not limited to only this. A good school needs infrastructure. Moreover, there are many more payments like electricity and water bills, stationary, etc to pay. Thus the School Accounting ERP System India manages income and expenses.
Accountants in every school or college use an account management system . His/her dashboard has details of daily, monthly and yearly income. Also it is visible in the admin dashboard. Thus, it enables us to track every penny spent. Managing the expenses record is now automated.
There are various fee categories. Such as, tuition, exam, extra curricular fees, etc., All the fee paid updates in the online book of accounts. Payment is either online or offline. Generates a receipt for proof.
Paying salaries to the whole staff is a monthly procedure. Thus School Accounting ERP System India automates the same. And so, every month the salary credits to each staff's bank account. In case of cash payment, the same reflects in the system.
Every day there are different kinds of expenses. System updates a detailed record of money spent for each particular. Also this includes the name of staff who spent the money. This ensures best expense management.
Online Book of Records
Admin can see a cumulative report at the end of each month. Also, an accountant can generate such reports at any point of time. Thus the up-to-date information helps in managing the finances at its best.
Records other sources of income
Educational institutes have another source of income. For instance donations and subsidies. So, such additions to the income need a mention in the book of accounts. Thus, records all the details of such financial transactions for further use.