We have managed to eliminate manual bank reconciliation. Reconciliation between the school and the bank on fees payments is now automatic.
This new development eliminates forged bank slips by some students as it has been commonly found in some schools. All fees transaction entries that entered into the bank account will be imported from the bank’s system to the school system, and un-authentic "payments" will be eliminated.
It also helps the Bursar's Office to have a process that captures payments made in a bank, automatically, to eliminate the workload especially at start of term, as well as making fees defaulters’ lists readily available for decision support.
We have helped schools that have had a problem of unpaid bank charges by parents. Experience has shown that many schools’ cash flow is affected by unpaid bank charges because usually, parents pay the actual fees without including bank charges. This system reports only what entered into the account and unpaid bank charges will easily be spotted and school software will still show the parent/student as a debtor by the amount of the total bank charges unpaid depending on the installments they have paid.
Parents will not need to carry bank slips when making payments in the bank, but to have their codes as used at school. Similarly, they do not need to return the receipts to school (the bank will be issuing a receipt for the parent’s record).
For SchoolWrite users, parents will optionally receive a notification SMS that the money reached the school account (most useful where a parent gives money to the student to go and pay).
“Everyday is a bank account, and time is our currency. No one is rich, no one is poor, we've got 24 hours each.”
- Christopher Rice
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