Payment Terms

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Department : Academic

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Modules : Admin

Dependency :

Parent : NA

Child   : Book Marks, Book Purchase Order

Preface : Terms refers to limitation

Scope in the current context : Payment terms form helps in maintaining the mode of payment done by the candidates. It is important for bank transactions. During the year ending, for auditing purpose the total amount collected by the institute via institute fees, fine collected by them, fees for extra-curricular activities etc.

Description :


Credit Days Days stipulated in which the payment is to be done.
Fine Amount Many institutes have restrictions on using Mobile Phones in the premises. The candidate found guilty is liable to pay fine. This amount must be included in this field.
Fine Percentage There are different percentage of fines in every institute for every violation in rule. This percentage determines the amount to be paid as fine by the candidate.
Send Automatic Reminder If checked, it acts as an alarm. It will send a reminder to the concerned person about the payment of fees either by sending an email or an SMS.
Enforce Penalty After Due date Once the stipulated time gets over, the system will generate the fine.
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