All educational institutes carry out financial transactions. This is an essential activity performed by organizations, institutions and other economic systems of the world. Without this activity, an economy cannot survive. Hence any transaction made in monetary terms should be backed by supporting evidence to the money depositor. Fee payment receipt is one of those documents that are used for record keeping and other financial matters in a school.
A fee receipt is a document that is given and signed by the receiving party (school) when a person deposits school fee for their educational services. This fee is deposited in the bank or educational institution where the student is enrolled. The purpose of fee receipt is charging money and record keeping after getting payment against charges for specified services.
Following are the general contents of school payment fee receipt:
- Name of the school.
- Logo of the school.
- Address of the school.
- Name of the depositor.
- Billing date.
- Total fee amount charged.
- Description of the service.
- Signature of the student.
- Signature of the collector.
Additional information is also included on fee receipt such as name, class, section, roll number of the student, charges in the case of late fee deposit and any other charges can be included. Fee receipt is also signed by the depositor and the person dispatching it.
A fee payment receipt template fulfills all the specific and necessary requirements but it can be altered as per requirement. These templates are available in so many designs. Anyone can choose or self-made as per requirements of the institution. There are different purposes and advantages of issuing fee payment receipt. The major purpose and benefit are to use this record in verification and auditing process of financial records. Bookkeeping can be helpful in case of any dispute by the depositor or within an institution. So, fee payment receipt is a mandatory document that must be issued by every school to the depositor as evidence and for the maintenance of financial records.