User-Specific Roles

Will there be a possibility to create the ability to assign a specific user a specific function for example, the finance officer to be able to just deal with fee payment alone without being a teacher or admin

The best way to do this is to create a new role (which can be a copy of an existing role) in Admin > User Admin > Manage Roles. You can then assign your desired permissions to the role, and assign the role to the user. Hope this helps.

Yeah, that’s a good approach