The Fee Carry Forward feature is a useful functionality in educational institutions that allows for the migration of a student's remaining or unpaid fees from the current academic session to the next session. It aims to simplify the fee payment process and ensure continuity in financial transactions for students.
Here's a more detailed explanation of how the fee carry forward feature works:
- Current Session Fees: In an academic session, students are required to pay fees for various components such as tuition, hostel, transportation, library, and other facilities. These fees are typically divided into installments or paid at specific intervals throughout the session
- Unpaid or pending fees: Sometimes, students may not be able to pay the entire fee amount within the designated time frame. They might have pending fees or an outstanding balance due to various reasons like financial constraints, personal circumstances, or other unforeseen factors
- Carry Forward Process: When the new academic session begins, the fee carry forward feature allows the institution's administration to migrate the student's unpaid or pending fees from the previous session to the new session. This feature is usually facilitated by the institution's fee management system or student information system
- Fee Adjustment: Once the unpaid or pending fees are carried forward, the institution can adjust the amount with the student's new session fees. The remaining balance is added to the fee structure of the new session, ensuring that the student has a consolidated fee amount for the upcoming session
- Payment Tracking: The fee management system keeps track of the carried-forward fees separately, enabling easy identification of the previous session's balance. This helps both the institution and the student to have clear visibility of the outstanding amount and facilitates streamlined payment processes
- Payment Options: To settle the carried-forward fees, institutions usually provide various payment options to students and their parents. These options may include online payment gateways, bank transfers, checks, or cash payments at the institution's fee counter
Benefits of the Fee Carry Forward Feature:
- Simplified Fee Payment: By carrying forward the unpaid fees, the fee payment process becomes more convenient for students and parents. They can settle the dues along with the new session fees, eliminating the need for separate payments
- Continuity in Education: The fee carryforward feature ensures that a student's pending fees do not hinder their education. It allows students to continue their studies in the new session without any disruption caused by outstanding financial obligations
- Transparency and Accountability: Both the institution and the student have a clear record of the carried-forward fees. This transparency helps in maintaining accountability and prevents any confusion or disputes regarding the outstanding amount
- Improved Cash Flow Management: For institutions, the fee carryforward feature assists in managing cash flows more effectively. It enables them to plan and allocate resources efficiently by considering the carried forward fees as part of the new session's financial calculations
In conclusion, the fee carryforward feature in educational institutions enables the migration of a student's unpaid or pending fees from the current academic session to the new session. It simplifies fee payments, ensures continuity in education, promotes transparency, and assists in cash flow management for both students and institutions.
To carry forward the fees of a student to a new session, you must either be a SuperAdmin or a privileged employee (manage finance privilege must be provided).
For example, if you want to carry forward the balance amount from the 2022–2023 session to the 2023–2024 session, you will need to navigate to the 2022–2023 session first through a quick session change window or by pressing the button to bring up the session change window.
- Navigate to Finance > Fees Collection > Fees Carry Forward to perform the fee migration actions
- On the Fee Carry Forward page, filter the student's list by selecting the course, class, and batch or section for which you want to add the balance fee
- Once the list of students is populated, add the balance amount in the balance input box for the respective students and click on "Save"
- Balance Fee will then be shown as the Previous session balance in the student's fee profile