Fee collection shouldn’t feel like detective work. With AcadexAI Fee Management, institutions define structures once, automate invoices and reminders, and track payments in real time — reducing disputes and building trust with parents.
Why Modernize Fee Management?
- Clarity for parents: Clean statements, clear due dates, and instant receipts.
- Control for admins: Centralized tracking, configurable rules, audit-ready exports.
- Predictable cash flow: Automated reminders and smart dunning reduce delays.
Quick Setup in AcadexAI
- Define structures: Tuition, transport, lab, and activity fees — by class, term, and frequency.
- Configure rules: Due dates, grace periods, late fees, and concessions.
- Add channels: Enable online payments and auto-generate invoices/receipts.
- Set alerts: SMS, push, or email reminders for due and overdue notices.
From there, the cycle runs on autopilot — finance teams just monitor exceptions.
Smart Alerts & Dunning
Not all reminders should sound the same — AcadexAI adapts tone and timing based on parent profile and payment history.
- Friendly nudges: Sent 7 days before due, on due date, and during grace period.
- Escalations: Post-grace reminders with late fee breakdowns.
- Recovery flows: Installment suggestions and counselor call prompts for chronic delays.
- Thank-you receipts: Instant acknowledgements with downloadable PDF receipts.
Concessions, Scholarships & Waivers
Apply concessions at student or cohort level with full audit trails. Tie scholarships to attendance or performance (via AI Insights) and let the system auto-recompute dues.
- Conditional rules: Auto-apply discounts based on criteria.
- Transparent records: All concessions logged and time-stamped.
Reconciliation & Reports
- Auto-reconciliation: Payment gateway settlements mapped automatically.
- Aging buckets: 0–30, 31–60, 61–90, >90 days with drilldowns.
- Exports: CSV/XLS for auditors and management.
- Dashboards: Dues, collections, and overdue trends in real time.
Parent Experience
Parents see a simple timeline: invoices, dues, payments, and upcoming dates. One-tap pay, instant receipts, and transparent breakdowns — no confusion, no surprises.
Best Practices
- Publish the annual fee calendar at session start.
- Use multi-channel reminders to reduce missed notices.
- Offer installments for large dues with transparent terms.
- Review aging weekly to trigger recovery workflows early.
What’s Next?
Connect fees with Rewards & Recognitions (e.g., incentives for on-time payments) and align communications with Communication & Collaboration for unified messaging.
Ready to streamline your finance operations?