Badminton Academy Fees - Track the Pending Fees and Get it on Time
Different ways to track the dues and manage easily
3 min read |
Tracking the pending fees and get the fees on-time is one of the biggest challenge for any sports academy (especially in India). Coaching/Membership being the primary source of income for any academy you need to keep track of the incoming fees, pending fees, follow-up to get it on time to run your business efficiently.
For any academy with more than 30+ students/members it becomes hard to remember who has paid the fees, whose pending and then start following up for the fees. The problem multiplies with more students and more centers and more attrition of students (for multi-center academy).
And, if you are receiving fees on a monthly basis (majority of the academies have a monthly fee mode), you need to keep tracking every month.
Various methods to track the fees
Notebook/attendance register
The most common method used by academies are the notebook method where you write down all the student name, batches and their fees. Whenever you receive fees from the student/member you make an entry in the book and also update the next due date. Advantages
- Easy to start, control on how you want to write
- Best method if you are a starting a new academy with few kids/members
Disadvantages
- Does not work after some-time when students increase
- Does not give a clear picture of how much is pending fees, how many are pending etc.
- Not easy to understand by another person as you maintain your own format — hard for new academy member joining
- Error prone as you might forget to update, misplacing or loosing the book would eventually lose all the fee data
Excel sheet method
Some academies log the data in an excel file. This is a better alternative to logging in books. You can have separate worksheet for each batch, add all students within that batch, their joining dates, due dates etc. You can also have a dashboard within excel combining all the data.
Advantages
- More structured and organised.
- Can apply different filters based on due dates, joining dates etc.
- Shared across the team and can have one format used by all the team members in the academy
- Derive lots of reports like fees pending reports, fee collected reports etc
Disadvantages
- Not everyone of your staff understands Excel well
- Cannot remind the pending students/members of fees payment
- Security of the excel data is an issue as a team member can delete (may be accidentally) and you loose all the data
- Data security and threat of loosing or sharing of data to outside person
Dedicated system to track
Build a dedicated system with all the fee tracking, fee-reminders, fee-receipts or use Badmintonbuddy DRIVE to get a clear view of all pending fees and student, automatically remind them when their fees is due and when they are paid send them the fee receipts.
Join 150+ academies who are already using Badmintonbuddy DRIVE to manage their academy
