Payment Type is the form of payments which are used in the system for the transactions in respect of the students.
To setup billing module, first setup the payment type/s. Go to Billing >> Setup >> Setup Payment Type.
Enter the payment type name and its description and click save. Your payment type for the school is set now.
Fee Type is the form of fees applicable to the school based on its frequency. Example, Yearly, Monthly or Quarterly.
To set up fee type, go to Billing >> Setup >> Setup Fee Type.
Enter the fee type name, fee amount, description and its frequency, and click save. In this way, various types of fees can be entered that are used in the school.