Expenses

At any organization, and not just educational ones, it is very important to maintain and track the incomes and expenses. In case of the Schools and Colleges using Eduware® Online, the core part of Income is already comprehensively covered under the Fee Module and a substantial part of Expenses, which is usually comprised of Salaries, is covered under the Staff & Payroll Module. However, practically, there could be other sources of income for an educational institute such as donations, financial aids, miscellaneous events that also raise funds and so on. And, when it comes to expenses, there are a lot more items in the list, for example, repairs & maintenances, constructions, various types of purchases, utility bills etc. So, having a dedicated module for recording all other types of Incomes and Expenses is quite helpful in maintaining a seamless and flawless chart of inflow and outflow of money, planning & foreseeing a budget, and generating some very vital accounting reports. It also aims to eliminate the need of separate, unconnected accounting software to serve the same purpose. Most commonly available accounting software require re-entering the summaries of fee collections and outstanding, salary payments, loans, advances etc. which, in itself, is very error prone and time consuming. Additionally, in case of any corrections or modifications in such entries in Eduware® Online, the corresponding entries in the separate accounting software need to be searched out and rectified, and verified all over again.