Fees Management & Payment Processing

iQuest Analytics provides a comprehensive fees management system that ensures seamless fee collection, arrears handling, transaction tracking, and integration with various payment gateways. The system is designed for accuracy, transparency, and automation, making it easier for administrators, students, and parents to manage school fees efficiently.

1. Fee Collection & Invoicing

• Flexible Fee Structures – Define custom fee structures based on class, program, or special categories (e.g., boarding, day scholars).
• Automated Invoicing – Generate invoices for tuition, examination fees, transport, extracurricular activities, and other charges.
• Bulk Invoice Generation – Quickly create and assign invoices to multiple students at once.
• Due Date Reminders – Automated notifications to parents and students before the due date to avoid late payments.

2. Arrears Handling & Outstanding Balances

• Real-Time Arrears Calculation – Automatically track outstanding balances and unpaid invoices.
• Installment-Based Payments – Allow partial payments with structured installment plans.
• Penalty & Late Fees – Configure penalties for overdue payments with automatic calculations.
• Arrears Reports – Generate reports on students with pending fees, payment history, and due amounts.
• Scholarships & Waivers – Apply scholarships, discounts, or special waivers to eligible students.

3. Payment Processing & Gateways

• Multiple Payment Methods – Support for cash, bank deposits, mobile money (M-Pesa), credit/debit cards, and online transfers.
• M-Pesa Integration –
  • Direct payment via Paybill/Till Number linked to student accounts.
  • Automated payment validation and receipt generation.
  • SMS confirmation for successful transactions.
• Bank & POS Integration –
  • Integration with local banks for direct fee deposits.
  • Support for POS transactions at school finance offices.
• Online Payment Portals –
  • Secure portals for parents/students to pay fees via PayPal, Stripe, Flutterwave, or bank transfers.
  • Instant updates on successful payments.
• Auto-Reconciliation –
  • Automatically match payments with student invoices.
  • Flag discrepancies for administrator review.

4. Receipts & Transaction History

• Instant Receipt Generation – Generate and send digital receipts upon successful payment.
• Email & SMS Receipts – Notify parents/students of successful transactions via email or SMS.
• Printable & Downloadable Receipts – Available in PDF format for record-keeping.
• Comprehensive Transaction History –
  • View full payment history, including date, amount, method, and reference numbers.
  • Track partial payments, overdue balances, and pending fees.
  • Search & filter transactions by date range, student ID, or payment type.

5. Integration with Other Modules

• Accounting & Finance – Syncs with accounting systems for accurate financial reporting.
• Student Portals – Students can view their payment history, pending balances, and invoices.
• Parent Portals – Parents can track fees, make payments, and receive alerts for due amounts.
• Automated Reports – Generate daily, weekly, or term-wise financial summaries for administrators.

Key Benefits

✔ Convenience – Multiple payment options, including M-Pesa, bank, and online gateways.
✔ Transparency – Real-time transaction tracking and automatic receipt generation.
✔ Efficiency – Automated fee invoicing, arrears calculation, and reconciliation.
✔ Security – Secure and encrypted payments with detailed audit logs.
✔ Reduced Defaults – Automated reminders and structured installment plans encourage timely payments.

The Fees Management System in iQuest Analytics ensures smooth fee collection, reduces administrative workload, and enhances financial accountability for educational institutions. 🚀