How to add Fee Head in ERP?

How to add Fee Head in ERP?

How to add Fee Head in ERP?     

Step 1 - Go to the Fee Heads form of the Fee Module 

Step 2 - Click on Add New button

Step 3 - Fill in the mandatory details and save. 

Note - 

Fund Name - It is a type of fund that an institute keeps, like a Local Fund or University Fund. The user can create it with the chain type check box. 

Head For - It is a type of Fee Head, like if the user wants the head to be used on Fee Plan creation, then it will be created under the General Fees, and if it's for a particular form, like a Discipline fine, then the head for will be selected accordingly.

Head Purpose - It will be used when the user wants to use it for a particular event, like the head will be reflected when the user uses the Late Fee For Later check box on the Fee Deposit form, while depositing the fees of the student. 

One-Time Applicable - If the head will be paid by the student only one time in his entire journey with the institute.

Reflects in Accounts - If the ledger needs to be reflected in accounts when a transaction is made against the head. 

Default Head - If the user wants the head to be the default when the student tries to pay the fees.

Refundable - Once the fee is deposited into the account can be refundable, then select the check, then only the user will be able to refund the amount. 

Don't Apply Late Fine - If the user doesn't want the ERP to calculate a late fine on the head.

Scholarship Applicable - If the scholarship applies to the head. 

Tax Applicable - If the tax needs to be applied to the head.

For New Admission - If the head amount is only paid by the newly registered students. 

Fee Type - What is the type of head for the institute - Income or Liability? Like caution money head is a liability type because it needs to be transferred back to the student after course completion.