Finance Management

Finance plays a pivotal role in the functioning of any institute. It is a very vital function to manage daily monetary transactions in any organization. While technology is there to facilitate planning, monitoring budget expenditure, control flow of money in and out of your institute and regulate your profits; our ClassMentor School ERP and College ERP software helps you to conveniently manage all such activities.

Simplest and effective way of Finance Management for Institute

School Finance Management System

Gone are the days where it used to take a month to complete the entire audit process for your company/school/ institute/college.

ClassMentor School Management Software provides a helpful tool for managing monetary transactions in the most convenient and easy manner.

Our School Management Software provides an effective and improved financial management system which will reduce dependency on other sources for managing the Finances & Expenses of your institute.

  • It will improve the short- and long-term business performance by channelizing the payment process and bill collection.
  • Eliminates human errors in calculating and totalling of accounts.
  • Redundancy in maintaining the records is minimized.
  • Compliant with the tax and accounting regulations as laid down by Income Tax Department, Government of India.
  • Helps a company or institute to quantify budget planning and offers flexibility and expandability to accommodate change and growth.
  • Enables growth of an Institute by increasing profits if all monetary transactions are managed in a proper manner.
  • Rights based access to specific functions of Finance Module in our institute management system.
  • Manage fees, expenses, miscellaneous fees, cheques, passbook, transfers, deposits and withdrawal of money all from one place using the ClassMentor Finance Module.
Simplest and effective way of Finance Management for Institute
Manage Trust/Company

Using Finance Module of ClassMentor School Management Software you can create and manage multiple accounts of multiple institutes.

Admin can manage multiple Trust/Companies and its bank accounts from one place.

Fee categories can be mapped with different companies. This way a particular fee category’s amount will be automatically transferred to selected company’s account.

Manage Fees & Wallet

Admin can create and manage Fees institute wise, manage multiple collection centers and get reports accordingly.

School fees and miscellaneous fees can be managed, company wise as per mapping done by the Accountant or the institute Admin.

Institute collects advance amount from parents against the student’s expenses in campus on a daily basis or to adjust with other expenses which the institute have to charge from the student at a later stage.

The same amount is reflected in Wallet module of our School Management Software. Parents can check all transactions done from Student Wallet in our School Management app.

The advance amount collected in Wallet against the future expense for a Student can be shown and managed from the selected account out of all the available accounts.

View Passbook

Passbook feature available in our School Management Software is very similar to the actual bank’s passbook that we see. All the financial transactions that will be added through our Software will be visible here in the Passbook.

Admin needs to choose the date range for which he needs to check the transactions and he will be able to view the passbook for the selected date range.

There are multiple filters available for sorting out different transaction types like, cash, cheque, online etc. Required transaction is easy to find with the help of available filters.

Admin can get customized Passbook reports according to his need.

Cheque History and Transfer Money

As per the banking standards; we can receive, deposit and clear cheque from this panel. Once the cheque has been marked ‘cleared’, that amount will automatically be reflected in the linked bank account and company.

Admin can transfer money by cash and bank, from all institute’s company account to sub branch’s company account, internally.

Any other income amount can be deposited or withdrawn to and from any institute’s company account via cash, cheque, online etc.

Reference document can also be attached against any transaction done for all future references.

Generate Financial Reports & Summary
  • Provide reports to your Accountant/CA.
  • Keeping all payments and receivables transparent.
  • Keeping track of liabilities.
  • Coordinating finance statements, expense statements, and balance sheets.
  • Income and Expense reports can be generated to regularize the costs and make desired profits to achieve future goals.
  • Summary reports of the entire monetary transactions that are done for your institutes can be viewed using this feature which make several tasks easier and save your valuable time and money.