See what accounting changes at your institution
Before vs. after adding accounting to iVake
Where you are today
Holding you back
Fee reports typed into the books
Each month the collection report is printed and keyed into the accounting package as summary entries, so checking a disputed receipt means comparing two systems line by line.
Pain point
Supplier bills checked by hand
Orders, delivery notes and bills are compared from paper files in two offices, and a bill paid twice turns up only at the annual audit.
Pain point
Reconciliation eats the week
Gateway payouts and bank credits arrive with little detail, and matching them to receipts takes days of work across spreadsheets.
Pain point
The board pack lives in one spreadsheet
Figures from the fee system and the accounts package are merged in a workbook only one person understands, and a late entry makes the pack stale.
Pain point
- 3+Places the same payment is recorded
- 2+Times each figure is keyed in
- DaysSpent reconciling every month
Your institution, transformed
Everything connected
Posted when the family pays
Each receipt posts to the ledger under its fee head, and the day book reaches Tally or Zoho Books without retyping.
Solved
Bills on the same books
Stores and purchase entries post to the same ledger, so a bill already paid is visible before anyone pays it again.
Solved
Settlement matched overnight
The gateway’s settlement file is matched against the fee ledger, and the office starts the day with the exceptions.
Solved
One set of figures
Collection, dues and payroll are read from the records staff work in, with every figure linked to the entries behind it.
Solved
- 1Ledger that every fee posts to
- 0Summary entries typed at month end
- OvernightSettlement matched against the ledger
Ready to make the switch? See how it works for your institution.
Fees reach the ledger without month-end journal entries
Typing a month of receipts into the accounting package as summary entries is slow, and it hides the detail behind every figure. In iVake the ledger is written when the family pays, and the books read from it.
- Each payment posts under its fee head the moment the gateway confirms it
- Concessions, refunds and reversals are entered once, with their approval, and carried into the books
- Day book and ledgers export to Tally or Zoho Books in their own format
Reconciliation that starts with the exceptions
Matching a gateway payout against two spreadsheets is how errors hide for months. iVake matches the settlement against the fee ledger overnight, so the office opens to what did not match rather than the whole statement.
- Settlement files from Razorpay, PayU, Cashfree and bank gateways matched line by line
- UPI and NEFT references tie a bank credit back to the student who paid
- Unmatched lines are listed for a person to resolve, not left unexplained in the statement
Board figures read straight from the books
A board pack built from exports that one person knows how to merge is a single point of failure. iVake reads collection, dues and payroll from the records staff already work in, so the figures are current when the meeting starts.
- Collected, due and overdue by campus, class or programme, read live
- Group dashboards that drill down from all campuses to a single programme
- Every figure links to the receipts and entries behind it
Accounting features
Everything you need to manage your institution’s accounts effectively
Ledger heads
Fee, payroll and stores heads grouped the way your accounts are kept.
Receivables & dues
Instalment ageing and outstanding dues by class, programme and campus.
Campus & department
Postings tagged by campus, department and programme for clean reports.
Tally & Zoho Books
Day book and ledgers in the format your accounting package imports.
Finance dashboards
Collected, due and overdue, read live from the ledger.
Approval chains
Concessions and refunds approved by rule, versioned and visible.
Audit trail
Every entry and change logged with who made it and the previous value.
Rollout support
Fee ledgers and balances migrated and reconciled before go-live.
Frequently asked questions
Get answers to common questions about accounting
How does Accounting differ from Advance Accounting?
Accounting covers the everyday books: ledger heads, postings from fees, payroll and stores, reconciliation against the gateway, and the export to Tally or Zoho Books. Advance Accounting is for institutions whose reporting asks for more, such as a group whose trusts or campuses keep separate books. Start with Accounting unless your trusts or campuses already keep separate books.
Do we have to start a new chart of accounts?
No. During discovery your existing ledger heads are written down alongside your fee heads, instalment plans and approval chains, and postings are mapped to them. The day book that reaches Tally or Zoho Books uses the accounts your auditor already knows, and new heads can be added later without disturbing the old ones.
How do fee payments reach the books without manual journal entries?
When a family pays by UPI, card or net banking, the payment is recorded against the student and posted to the ledger under its fee head. The gateway’s settlement file is matched against that ledger overnight, and the day book and ledgers export to Tally or Zoho Books in their own format, with the reconciliation already done.
What does the audit trail record, and what can our auditor see?
Every create, update, approval and export is written to the audit trail with the person, the timestamp and the previous value, and fee entries keep a full revision history. Your auditor can be given read-only access to ledgers and receipts, and the export is in a format their own tools already read.
How is a bank credit matched when it covers many payments?
A gateway pays out many families’ payments as one credit. iVake reads the settlement file behind it, matches each line to the receipt it belongs to, and lists anything that does not match for the accounts office to resolve. UPI and NEFT references tie a direct transfer to the student who made it.
Can we report by campus, department and programme?
Yes. Campuses, departments and programmes are part of how iVake is set up, so postings carry them from the start. Group dashboards show every campus together and drill down to one campus or one programme, and each figure links to the entries behind it.
What happens to the balances we already hold?
Fee structures come across with balances paid and outstanding, alongside students, staff and results. A trial import runs into a test copy, counts are compared line by line against your source, and you sign off the reconciliation before go-live.
Does our bank or accounting package have to change?
No. Money settles into your bank accounts as it does today, and Tally or Zoho Books can stay where your final accounts are prepared. iVake records each transaction against the student, reconciles the settlement daily and hands over the day book.
Cloud, hosted in your region
REST API & webhooks- SSO: Google, Microsoft & SAML
Encrypted, backed up daily
Built for the DPDP Act- Full security details
Built for your institution type
See how this feature works for your specific institution
CBSE, ICSE & state-board schoolsTerm fees, transport by route and sibling concessions on one ledger
UniversitiesCampus-wise figures with one group view
Degree collegesCategory fee heads, scholarships and reimbursement- ITIs, polytechnics & skill centresPart payments and refunds on withdrawal, on the books
Playschools & pre-primaryMonthly fees receipted and posted without a counter queue
School groups & trustsGroup dashboards that drill down to each branch
Integrations, comparisons & tools
Extend accounting with integrations, see how iVake compares, and run the numbers
Related features
Financial Management
Fee structures, instalments, receipts and reminders on the same student record.
Advance Accounting
For groups whose reporting asks for more than one set of books.
Payroll
Salaries on the same platform, with payslips sent to staff in the app.
Expense Management
Staff claims with receipts, approved by rule before they are paid.
Purchase Management
Requests, approvals and supplier bills on the record the books read.
Asset Request Management
Equipment requests, the asset register and warranties in one place.
More in finance & administration
Explore other features in this category
Ready to transform your accounting?
See how iVake posts every fee and payment to one ledger, so your accounts office closes the month without retyping.
Try it free for 30 days. No credit card required.