The Fine Management Module in Cyclomax’s School Management System is designed to simplify and automate the process of managing overdue payments, ensuring that your institution’s cash flow remains consistent. With customizable fine calculation formulas and an efficient approval process for fine waivers, this module empowers finance managers to make informed decisions that encourage timely payments.
Fine Management Module
Streamline Fine Calculation and Waiver Requests
Features of Fine Management Module
Customizable Fine Calculation
Finance managers can set and adjust fine percentages for overdue payments using custom formulas tailored to the institution’s policies. This flexibility helps to incentivize parents to settle payments on time.
Waiver Request Management
Parents can request a waiver of fines through the system. These requests are routed to a dedicated approval panel, allowing management to make decisions based on the institution’s guidelines.
Streamlined Approval Process
The module includes an authentication panel for fine waiver approvals, ensuring that any deductions from the final payment recovery are properly authorized.
Enhanced Cash Flow Management
By enabling fine tuning of payment recovery processes, the module helps to maintain a steady cash flow, contributing to the financial stability of the institution.
