Fee collection is the number a management committee asks about first, so it has its own place on the dashboard: billed, collected and outstanding for the current term, with the count of families behind on payment beside it.
The term, not all time
Outstanding is shown for the term you are in. A lifetime total flatters a new school and frightens an old one, and neither figure tells you whether this term is going well.
One dial you can read across a room
The collection rate is a single dial. A term running behind is obvious without opening a report, which matters when the person who needs to know is the one least likely to run one.
The same figures the ledger reconciles
The dial is built from the invoices and receipts in the fee module, not a separate summary table. What the dashboard shows and what the ledger reconciles to are the same numbers.