It’s difficult to monitor every payment that comes through the door at a school district. Payments can get lost in backpacks or the wrong amount could be entered into the system. Plus, once your school receives the payment, how can you be sure the money is going to the right place? There are a few steps you can try to improve your internal controls and your payment process.
• Switch to a centralized online payment system
This will ensure that all payments made to your district are coming through the same place. Parents won’t have to struggle with using multiple systems for classroom payments, athletic payments, food service, and more. Staff will be happy that they don’t have to learn a variety of different ways to reconcile and track each fee that comes through. If you don’t already, switch to a payment system that can process every payment in one place.
• Process more payments online
Once you set up a centralized payment system, process as many payments as you can online. The goal would be to process every payment online and create a campus that was cash and check free. Each payment paid online is automatically tracked and automatically entered correctly.
•Set up multiple deposit accounts
With multiple deposit accounts, you can be sure that the money is automatically going to the correct bank account. This means that fewer people will have to sort the funds and help make sure no sorting mistakes are made.
When you implement any of these three payment tips(?), you will see your process become more efficient. Try all three for the best results and relax as you finally find peace of mind.