See what advanced accounting changes at your institution
Before vs. after adding advanced accounting to iVake
Where you are today
Holding you back
Receipts keyed into the books by hand
Every fee receipt is entered again as a voucher in the accounting package, so the ledger runs days or weeks behind the counter.
Pain point
Settlements matched line by line
One gateway credit in the bank covers hundreds of payments, and someone matches it against receipts across two spreadsheets.
Pain point
Scholarships and grants in workbooks
Government reimbursements, scholarships and project grants sit in separate sheets, and each utilisation statement is built by hand.
Pain point
Audit queries with no trail
Auditors find differences between the fee register, the bank and the books, and nobody can show who changed an entry or why.
Pain point
- 3+Registers one payment passes through
- 2+Times the same amount is keyed in
- WeeksTo close the month
Your institution, transformed
Everything connected
Posted as the money arrives
A confirmed payment writes its receipt and its ledger entry together, against the right fee head, campus and term.
Solved
Settlements matched overnight
The gateway settlement file is matched against the fee ledger every night, and the office opens to a short list of exceptions.
Solved
Each fund on its own account
Scholarships, reimbursements and grants are tracked against their own heads, so a utilisation statement is a report you run.
Solved
Every entry traceable
Each entry records who made it, when and the previous value, and fee entries keep their full revision history.
Solved
- 1Ledger for fees, payroll and stores
- 0Receipts keyed again into Tally
- OvernightSettlement matched to the ledger
Ready to make the switch? See how it works for your institution.
Month-end close from entries already posted
When fee receipts, payroll and stores issues post to the ledger as they happen, the accounts office stops spending the start of every month catching up on the last one.
- Each payment posts against its fee head, campus, programme and term, with no voucher typed
- Payroll runs on the same platform, so salary costs arrive by department without a separate import
- Day book and ledgers export to Tally or Zoho Books in their own format
Reconciliation that starts with a list of exceptions
A single credit in the bank can stand for hundreds of fee payments. iVake matches the gateway settlement file against the fee ledger overnight, so the accountant works only on the lines that do not agree.
- Settlement files from Razorpay, PayU, Cashfree and HDFC or ICICI gateways matched every day
- Each settlement credit broken down into the student payments it contains
- Unmatched lines held on a review list with the likely receipt beside them
Scholarships, reimbursements and grants on their own accounts
Government reimbursements, scholarships and project grants each come with their own rules and their own reporting. Kept in workbooks, they are one wrong version away from a query from the funder.
- Each scholarship, reimbursement scheme or grant kept on its own account with budget heads
- Utilisation statements drawn from the ledger rather than assembled in a spreadsheet
- Alerts to the account owner as spending approaches the limits you set
Advanced accounting features
Everything you need to manage your institution’s accounts effectively
Fee ledger
Instalments, concessions, scholarships and dues on one ledger.
Automatic posting
Receipts, refunds and payroll posted to ledger heads as they happen.
Settlement matching
Gateway settlement files matched against the fee ledger every day.
Campus cost centres
Entries tagged by campus, department and programme.
Funds & budgets
Scholarships, grants and department budgets tracked against their limits.
Tally & Zoho Books
Day book and ledgers exported in the format your auditor already uses.
GST & TDS reports
GST reports and TDS for payroll among the finance exports.
Audit trail
Every entry logged with who made it, when and the previous value.
Frequently asked questions
Get answers to common questions about advanced accounting
How do fee payments reach the ledger without manual entries?
When a payment is confirmed, by the gateway or at the counter, iVake issues the receipt and posts the entry to the right fee head in the same step. The entry carries the student, campus, programme and term, and links back to the instalment it settles, so the student record and the ledger show the same payment.
Can we track scholarships, government reimbursement and grants separately?
Yes. Each scheme or grant is kept against its own heads, with the amount claimed, received and spent. Utilisation figures are read from the ledger, and the owner is alerted as spending nears the limit you set.
How does reconciliation work when one bank credit covers many payments?
The gateway’s settlement file lists every payment inside a credit. iVake matches that file against the fee ledger overnight, so each receipt is tied to the settlement it arrived in. Lines that do not match are held on an exceptions list for the accountant to resolve.
What does the audit trail capture, and how do auditors see it?
Every create, update, approval and export is recorded with the person, the timestamp and the previous value, and fee entries keep a full revision history. Auditors can be given read-only access limited to what they need, and ledgers export in the format they already work with.
How does it work for a group with several campuses?
Each campus runs as its own context with its own fee structure and approvals, while central policy is set once. The group office sees combined figures that drill down to campus and programme, without building a spreadsheet from separate exports.
Can we set budgets and see spending against them?
Department and fund budgets can be set for the year, with approved requisitions shown against them before the invoice arrives. The budget owner sees what is committed, what is spent and what is left, and is alerted at the thresholds you choose.
Do we have to change our bank or Tally?
No. Money settles into your accounts as it does today. iVake records each transaction against the student, reconciles the settlement daily and exports the day book and ledgers to Tally or Zoho Books in their own format.
Does it handle GST and TDS?
GST reports and TDS for payroll are among the finance exports, alongside bank statements and a custom ledger export. Your accountant or auditor still reviews and files the returns.
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 and monthly fees posted by class and route
UniversitiesFigures kept per campus, with a combined group view
Degree collegesScholarships and government reimbursement on their own heads
ITIs, polytechnics & skill centresShort-course instalments and refunds posted as they happen
Playschools & pre-primaryMonthly fees and receipts matched without a spreadsheet
School groups & trustsEach branch’s figures kept apart on one ledger
Integrations, comparisons & tools
Extend advanced 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.
Accounting
Day-to-day books for fees and expenses, sent on to Tally or Zoho Books.
Online Fee Payment
UPI, cards and net banking from the app, with the receipt on the spot.
Payroll
Salaries and payslips on the same platform as the fee ledger.
Expense Management
Claims and approvals recorded against the budget they draw on.
Purchase Management
Requisitions and orders approved before the invoice arrives.
More in strategic capabilities
Explore other features in this category
Ready to transform your accounts office?
See how iVake posts every fee, salary and stores entry once, so your accounts team closes the month from records that already agree.
Try it free for 30 days. No credit card required.