Fee Components

Fee Components

Fee components are the heads used while creating fee structure. These components can be created as ledgers and can be mapped with respective bank account.

While creating fee structure priority can be defined to these fee components in order to display.

Role

Finance Admin

Path

Finance Admin >> Accounting >> Accounting Configuration >> Ledger

Finance Admin >> Fee >> Academic Fee >> Academic Fee Fixation

Terminology Used

Particulars: Particular will be the fee head to be selected (Ledger created)

Time unit: Time unit can be One time/Yearly/Daily/Monthly depending on the type of fee. For example Deposit can be marked as One Time unit. Whereas tuition fee or development fee can be marked as Yearly.

Refundable: Refundable option can be marked as Yes/No depending on fee type. For example Deposit can be marked as Refundable-yes whereas Tuition fee will non refundable.

Display Name on Receipt: Display name can be different than selected component name only for the display point of view on receipt. For example Lab Charges, Book bank charges will be maintained separately in account under those heads. But on student receipt that can be shown as 'Other Fee'

Include Tax- This feature is used where any type of tax is applicable on the fee head. Usually in case of short term courses tax is applicable on course fee. So in such case tax ledger can be mapped with fee component using this feature.

Fee for Hostel- In case of some institutes, hostel fee is taken along with academic fee at the start of sem/year. For this purpose this functionality is given to denote fee component as hostel fee component.

Inputs Needed

Particular (Fee head)

Amount

Time Unit (Onetime/Yearly/Monthly/Daily)

Refundable-Yes/No

Separate Receipt- Yes/No

Deposit- Yes/No

Display Name on Receipt

Installment No

Component Priority

Functionality

Adding new component

Editing added component

Setting display priority for added components

Step by Step

Adding new fee component

New Fee Component

Added Few Component

Priority Setting