Educational institutions are usually recognized as charitable organizations. In the same sense, the purpose of Sagisoft is to help in promoting, developing and enhancing the quality of education through financial supports. Educational institutions are mostly branded as nonprofit organizations which leads to negligence in financial aspects. It needs to have persistent growth with adequate funds for its development and the infrastructural needs. Thus, there should be standardized and smooth financial management in every educational institution whether it is a profit or non-profit organization. An Institution’s financial management system should be more focused and centralized in a systematic way for the development and acquisition of funds. Finance management is used to stabilize the financial position of the organization.
Educational institutionsare meant to have proper financial information and survival technics in a competitive environment. Major success depends on their ability to collect and use financial information in an adequate manner. Well maintained Institutions will always have the right sets of financial information. Certain rules, laws and procedures are very well defined in some educational institutions with the help of financial decision making.
THIS MODULE INCLUDES THE FEATURES LIKE
The administrator can add an account master list together with the account name, balance and group name. This feature will handle all the account related activities and also helps to check-out the account master list. It can manage Bank or Cash transactions, Expense and General voucher for the Institution’s activities.
The most important feature of the finance management system is fees collection. Administrator can handle and manage all the fee related institutional activities.The administrator can specify the type of fee payment paid with any mode such as in cash, cheque or visa cards. Fee setting list will display a complete detail of any student who has already paid his/her fee or a detailed list of any student who hasn’t yet paid his/her fees, thus aiming for a late fee payment penalty. It also shows the stream in which a student is studying. It provides high accuracy in professional accounting in terms of School fees, Issuing fee receipts and fee registration updates.
Different types of reports can be created by users of the software. Some of the reports which can be created here include Journal Book, Cash / Bank Book, GST Reports, Profit and loss reports, Balance sheet and trial balance reports etc. These reports helps the institution in analyzing, recording and calculating the total available funds and total profit as well as loss of the institution.
Finance management can operate and or handle different types of master accounts such as Expense Master, Bank/Cash Master, Tax Master etc. It may also be used for Bank related transactions. The tax master helps in knowing the tax rate for different tax imposed on the Institution related activities.
This module can also help in handling the Institution’s financial budget & expenses. The administrator can add the expense master which consist of details such as Expense master name, contact number, Email, GST details, PAN number, Opening balance, Bank & Branch Name etc.