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Finances Function
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Users can define unlimited types of fee schemes for each course, intake, study mode or
semester. For each course, different types of students can be charged at different rates, e.g.
local students, overseas students, exempted students and students who are re-sitting
examinations.
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Split payments and instalments are easily configured and each flow of students' payment can
be automatically monitored.
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Payments made in advance can be captured and posted to advanced payment account. Overpayments
or advanced payments can be used to ‘knock’ off new invoice items or to be refunded to
students.
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Scholarships can be defined within the system. Each approved student application will
automatically generate a report / invoice for payment requests to the scholarship
provider.
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Any overpayment from the scholarship can be refunded to the student or retained in the
advanced payment account.
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Upon receiving payment from students, the system will update the payment schedule and the
total amount collected to date. These information will be used in the Student Aging
Reports, Student Statements, Reminders, Revenue Recognition Reports, Profit Sharing
Reports and all other related reports.
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The system provides statistical reports on fee collections by date, month, mode of
payment (cash / cheque), course, intake, semester, types of fees, deposit, by faculty,
by subjects, by period and more.
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