Running a school is so much more than just ensuring the students are safe, are learning enough are gaining the knowledge required. There is a whole back end accounting process of running a school that is never shown on the primary surface. School accounting is not only easy but is a big task that requires proper accountants and processes that require time and planning. To make matters easy, it is important to have a school billing software that takes into consideration all the different incomes and expenses of the school. And myBillBook school billing software just doesn’t go to the lengths of a school but can be personalised to any educational institute such as a playschool, nursery, primary or secondary school, college and even for tuitions or coaching classes.
Why use myBillBook?
What is a school billing software and why is it needed?
Just as how a business needs accounting software to keep track of the inventory, sales and expenses, the same way a school also needs a billing software that keeps track of all the income and expenses borne by the school. Running the books of account for a school is not as easy because there are multiple income streams and expenses that need to be maintained and have a track. Also, quite a few schools run on a board system or a trustee system and it is necessary to show them the accounts of the school every quarter or every few months. With the help of myBillBook school billing software, not only will all your business accounting be up to date but the software can also export business and accounting reports that can be shown at the meetings in a timely and orderly manner.
The importance of school billing software is that it helps in the recording keeping of school fees such as admission fees, school trip fees, computer fees, sports fees and so on. It also keeps into account all the expenses such as the teacher’s salary, maintenance of the school structure, classroom renovations, electricity, payment to other vendors and so on. While managing a school there aren’t just parties that are directly related to the school but outside vendors also such as school bus contracts, uniform contracts and all these vendors need to be paid from the school system. At the same time, students pay for their school bus and uniform fees too, so the school needs to have a proper management system that keeps all these accounts in order and easy to understand.
What are some of the features of a school billing software?
With a pandemic being underway and most schools and classes being converted into online classes, school billing software is also needed for the online payment of fees and other courses. Earlier, students or parents would pay the fees and receive a physical receipt in return. But with now everything happening online and not in person, schools need a software that reflects that as soon as the fees are paid, the parents or students receive an online receipt for the acknowledgement of the fees. All these features and more are done by the myBillBook school billing software. You can customise each of the functions of the software according to the needs of your institutions.
Some of the features of a school billing software are:
- Automated Fees and Invoicing Software
Whether fees need to be paid physically at the school or online due to work from home situation, with the help of billing software the bills and invoices that are generated are done automatically without human intervention at all steps. This eases the process and ensures that the fee-paying is done seamlessly without any hassle. In case the school needs to follow up with outstanding payments or late fees, the system will set the reminders in place and give timely notice of when the fees are due next. The software is also integrated in such a way that parents can use different platforms to make the mode of payment according to what they prefer.
- School and Student Data
One of the biggest responsibilities of running a school is the data and track record of the past, current students, teachers and vendors. Not only that, the data of students right from their exams to other activities, all the data needs to be collected and stored. With the help of software, all these processes are automated and stored for years. Since the software is usually a cloud accounting system, there is usually no limit on the memory storage but they do come at an additional cost. This way, all the data can be preserved for years to come and nothing will be destroyed.
- Admission and document collection
Another problem with the schooling system being online for a while is the admission and documentation process that requires people and parents to be present in person. Birth Certificates, prior mark sheets, letters of recommendation and so many other documents are required for the admission process. With the help of software, there is an inbuilt integration system that will let parents and students upload all these documents without the hassle and ensure their admission process is done smoothly without any glitches.
- Automated payments and leave policy
Teachers and professors need to be paid a monthly salary on time as soon as the next month start. The software allows to keep track of how much each teacher needs to be paid and in case they have taken additional leaves, those are accounted for too and made sure the calculations are reflected in the system. This way, no one needs to calculate what the final amounts are nor is any additional communication required. The entire process is done by a few computers who come at the final amount.
- School Franchisee or Trust Boards
If the school is run by a franchisee and the school has multiple chains throughout the city, state or country having a school billing software is a blessing in disguise. The main school can adopt a billing software and pass it down to the franchisee to follow the same method. This way all the information and process is kept uniform and there are no changes between one school and another school.
In case the school is run by a trust, they need to know what the accounting of the school looks like and need to be shown reports often. A billing software does all the needs for you with just a few clicks and publishes reports with data and statistics and graphs for easier understanding. The reporting is almost accurate with no errors and this means that no arguments or manipulation of accounts can take place.
myBillBook School Billing Software aims to make a school experience easier for the students, parents and teachers. After all, a school experience should be that of fun, learning and a knowledge centre. With billing software for schools doing all the back end work, the other parties involved in the school can actually work towards the better enhancements of the experiences and shape the future leaders of our country. This is everything you need to know about school billing software.