Good records protect you, your students and your sleep. They tell you whether the centre is healthy, they settle arguments about what was paid, and they make tax time calm. You do not need expensive software, only the habit of writing everything down the same day.
Set your own fee, then explain it
You decide what to charge your students, keeping your costs, your area and your competitors in mind. This guide does not state any fee and the head office does not set one here. Write your fee for each course on a fee card. State the total, the instalments if any, what is included and what is extra, such as printed notes or exam fees. Give every parent the card and keep a copy.
Use a separate bank account
Open a bank account for the centre and keep all centre money in it. Pay the rent, salaries and bills from it. Do not mix personal spending with the business account, because you will no longer know whether the centre is earning or losing. Ask your bank about the right type of account for a business or a proprietorship.
Give a receipt for every payment
- Use a numbered receipt book or a simple billing program.
- Write the date, the student name and enrolment number, the course, the amount, the mode of payment and what the amount is for.
- Give the original to the student and keep the duplicate.
- Prefer digital payment, such as UPI or bank transfer, so that there is a record on both sides. When you receive cash, count it in front of the person and record it immediately.
The records to keep
- A student register or spreadsheet: name, course, batch, admission date, total fee, amounts paid, balance and next due date.
- A daily cash and bank book: every rupee in and out, with a short reason.
- An expense file: bills and receipts for rent, power, internet, repairs, stationery, marketing and salaries.
- An asset register: your computers and furniture with bill dates and warranties.
- Staff records: appointment letters, salary sheets and attendance.
Check every month
- Total what students paid and compare with the receipts issued.
- List the dues and call students whose payment is late, politely and early.
- Total all expenses and compare them with your plan.
- Compare the bank balance with your own book and find any gap.
- Put aside the money you will need for repairs, replacement and any tax you may owe.
GST in general terms
Goods and Services Tax applies to many services, and whether and how it applies to your centre depends on the kind of service, your turnover, your state and the rules at the time. In general, a business whose turnover crosses the limit set by law has to register, charge tax on its invoices, file returns and may claim credit on tax it paid on its purchases. Some educational services are treated differently from others, and rates and limits change from time to time.
Do not guess. Speak to a chartered accountant or a tax professional early, describe your courses and fees, and ask what registration and invoicing you need. You can also check the official GST portal. A one time conversation costs little compared with a notice later.
Other rules to check
Ask your accountant about income tax filing, whether you need a PAN for the business, any local registration, and what to do about tax deducted at source on rent or salary if it applies to you. If you employ staff, ask about the rules that may apply to wages and provident fund. This guide does not give legal or tax advice. It tells you the questions to ask.
Refunds and pauses
Decide your policy for a student who leaves, pauses or joins late, and write it on the fee card before anyone pays. Fairness and clarity are the point: parents mostly accept a rule that was stated clearly at the start, and resent one invented later.
Plan with real numbers
Use your records to feed the centre planner. After a few months, replace your guesses with the real figures for rent, power, salaries and collection. The estimate becomes far more useful.
This guide is general advice for planning. It states no membership fee and promises no income, student numbers or acceptance of a certificate by any employer. Ask the head office for the current fee and terms in writing, and check local rules and tax with a professional. Use the planner to test your own numbers.