9.0
Editor’s Rating:
Best Overall
PraxiSchool: Dashboard
PraxiSchool
  • Able to handle private schooling and daycare
  • Centralized location for vocational programs
  • Parent and student portals provide access to custom forms
8.4
Editor’s Rating:
Best for K-12 Schools
AptaFund: Budget dashboard
AptaFund
  • Has customizable report templates
  • Offers an employee self-service portal
  • GAAP and USFR compliant
8.0
Editor’s Rating:
Best for Higher Education
Ellucian Banner: Dashboard
Ellucian Banner
  • Flexible deployment options
  • Expertise in serving higher education facilities and organizations
  • Scalable and extensible for growing systems

1 PraxiSchool - Best Overall

Why we chose it: PraxiSchool is the best all-around school accounting and management software we reviewed. It offers a fully integrated accounting suite while managing attendance, grades, and the classroom. PraxiSchool manages tuition, allowing parents to pay their tuition with automated billing, allowing two payers for each account. Not-for-profit schools and clubs can manage donors and create various donation campaigns.

Praxi includes school management capabilities so teachers can manage their grade books, create lesson plans, and assign seats directly in the system. Parents can utilize online portals to view and manage student information or review report cards.

Some teachers may encounter a small learning curve when getting comfortable with the system. However, we found that after PraxiSchool had been fully implemented, the overwhelming majority of users reported a positive experience on the platform.

Best Overall:
PraxiSchool
★★★★★
★★★★★
(5)

PraxiSchool: Dashboard
PraxiSchool: Linking Assignments Page
PraxiSchool: Google Classroom Integration Page
PraxiSchool: Mobile Account
What We Like
Able to handle private schooling and daycare
Centralized location for vocational programs
Parent and student portals provide access to custom forms
What We Don’t Like
Exact pricing is based on total students
Performance limitation on mobile apps
Overview
Price Range: $$
Starting Price: $1.45/student/month
Client OS: iOS, Android, Web
Deployment: Cloud Hosted

2 AptaFund - Best for K-12 Schools

Why we chose it: We found AptaFund best for K-12 school districts and charter schools looking to improve their financial management. AptaFund allows employees to customize their dashboards and see only important information about their day-to-day activities. It even has built-in state-specific reporting to automate redundant financial tasks needed for state compliance, making reporting easy for school districts.

AptaFund was designed to meet the needs of K-12 school districts by offering a system to manage accounting, human resources, and grants. Because the system is cloud-based and centralized, districts can easily manage their finances in one place, anywhere the internet is accessible.

School districts can track grant disbursement and capital projects, to ensure a district’s long-term finances are planned and budgeted for. For school districts with student clubs and organizations, AptaFund can track club activity funds without getting new software for each organization.

Best for K-12 Schools:
AptaFund

AptaFund: Budget dashboard
AptaFund: Home Dashboad
AptaFund: My Reports Dashboard
What We Like
Has customizable report templates
Offers an employee self-service portal
GAAP and USFR compliant
What We Don’t Like
Pricing details not provided by the developer
Limited platform accessibility
Overview
Client OS: Web
Deployment: Cloud Hosted

3 Ellucian Banner - Higher Education Accounting

Why we chose it: We found Ellucian Banner well-suited for colleges and universities. Higher education organizations can manage their complex budgets using modules for general ledger, accounts payable/receivable, and fixed asset management. It offers grant accounting for institutions requiring tracking grant expenditures for research and academic purposes.

A notable benefit of Ellucian Banner is that it includes a student financial aid module for colleges and universities. It enables these organizations to manage the entire financial aid process – from application to disbursement. Although Ellucian Banner has been created for both small colleges looking to scale and large universities, budget-conscious institutions with limited expenditure might find its pricing and long-term contracts cost-prohibitive.

Best for Higher Education:
Ellucian Banner
★★★★★
★★★★★
(6)

Ellucian Banner: Dashboard
Ellucian Banner: Student Profile
Ellucian Banner: Academic Records
Ellucian Banner: Classes and Assignments
Ellucian Banner: Finance Query
Ellucian Banner: Demographics
Ellucian Banner: Mobile Employee Dashboard
What We Like
Flexible deployment options
Expertise in serving higher education facilities and organizations
Scalable and extensible for growing systems
What We Don’t Like
Must contact the vendor directly for pricing details
Reporting functionality is on the basic side
Users have reported issues with timely customer service
Overview
Client OS: Web
Deployment: Cloud or On-Premises

4 Blackbaud Financial Edge - Best For Private Schools

Why we chose it: Blackbaud Finacial Edge is our top pick for private school accounting software. We found its ability to connect with Blackbaud Tuition Management a huge benefit for private schools that primarily get their funding from tuition and private donations. This allows schools to enter information once into the centralized system and have it populate across all areas in the software, reducing manual labor.

Blackbaud has included expense tracking modules, allowing a school to track individual expense accounts, approve or deny transactions, and keep an accurate audit trail of all school transactions. While Blackbaud Financial Edge connects with other Blackbaud software, such as Blackbaud Student Information Management, we found its ability to integrate with third-party applications limited compared to other accounting software.

Best for Private Schools:
Blackbaud Financial Edge NXT
★★★★★
★★★★★
(14)

Blackbaud Financial Edge NXT: Budget Page
Blackbaud Financial Edge NXT: File Preview
Blackbaud Financial Edge NXT: Analysis Page
Blackbaud Financial Edge NXT: Accounts Filter
Blackbaud Financial Edge NXT: Bank Account
Blackbaud Financial Edge NXT: BS Report
Blackbaud Financial Edge NXT: Project Record
Blackbaud Financial Edge NXT: Vendor Activity
What We Like
Cloud accounting solution
Comprehensive training resources
Modules for accounts payable, receivable, etc
What We Don’t Like
Custom reports are limited
Inability to drill-down on report line items
Overview
Price Range: $$$
Client OS: Web
Deployment: Cloud Hosted

5 Multiview - Easy to Integrate

Why we chose it: Multiview ERP is a top pick for school accounting software due to its integration options and ability to connect with various systems. Schools can integrate existing Student Information Systems such as GradeLink. This is crucial for schools that depend on other systems for student management and payroll. Multiview also offers a comprehensive financial management package that includes accounts payable and receivables, general ledger, and asset management.

We found Multiview’s highly customizable reporting a useful tool for tracking spending, generating reports for audits, and overall gaining insight into a school’s finances. Although these extensive financial management features are helpful for experienced finance professionals, users unfamiliar with accounting might encounter a learning curve when getting started.

Easy to Integrate:
Multiview
★★★★★
★★★★★
(3)

Multiview: Supply Expenses
Multiview: Report Viewer
Multiview: Purchase Orders and Invoices
Multiview: Payroll Analysis
Multiview: Expense Reports
Multiview: Customers by State
What We Like
ViewPoint tool offers strong reporting and analytics
Scalable, user-based pricing model
Includes 18 fully integrated modules for different industries
What We Don’t Like
Asset module functionality could be more streamlined
Some initial challenges with system setup
Pricing quote requires consultation
Overview
Price Range: $$$$
Client OS: Windows
Deployment: Cloud or On-Premises

6 FINACS - Best Tuition Management

Why we chose it: FINACS by Administrator’s Plus is a school accounting software with integrated tuition management. It enables schools that rely on tuition as their primary income source to manage their cash flow effectively. We found private, charter, and parochial schools that benefit most from FINACS.

FINACS automates the sending of tuition invoices and allows the administration to set custom billing cycles to reduce the amount of manual work and errors that could occur. Each student has their own account, and FINACS keeps a detailed record of each student. We found this feature makes tracking tuition fees, payment history, or following up on unpaid balances easier for administrators.

Best Tuition Management:
Administrator's Plus
★★★★★
★★★★★
(1)

Administrator's Plus: Student Overview
Administrator's Plus: Gradebook
Administrator's Plus: Student Record
What We Like
PlusPortals enable easy data sharing between teachers and parents
Analytics module provides strategic management
Mobile app provides on-the-go access
What We Don’t Like
Exact price details not provided by the developer
System can be slow when navigating between features
Overview
Client OS: Web
Deployment: Cloud Hosted

7 QuickBooks - General Accounting

Why we chose it: QuickBooks Online is a top pick for school accounting because it provides a straightforward and intuitive platform for managing private and public school accounting. We found that schools can prepare tax reports, manage vendors, and track income and expenses to stay on top of their bookkeeping.

As QuickBooks is not made specifically just for schools, employees with experience in other industries can quickly get started on its platform. QuickBooks requires integration with outside systems, such as SchoolCues, to have school-specific features such as tracking students and grades.

Although QuickBooks can be quickly learned and understood, some accounting professionals hesitate to use QuickBooks because it allows employees to delete and edit transactions at any time. This can lead to incomplete audit trails or missing information if employees are not appropriately trained.

Best General Accounting:
QuickBooks Online
★★★★★
★★★★★
(79)

QuickBooks Online: Sales Dashboard
QuickBooks Online: Find an Accountant
QuickBooks Online: Track Mileleage
QuickBooks Online: Mobile Cash Flow
QuickBooks Online: Bank Reconciliation
QuickBooks Online: Dashboard
QuickBooks Online: Mobile Dashboard
QuickBooks Online: Customers
QuickBooks Online: Mobile Shortcuts
QuickBooks Online: Create Invoice
QuickBooks Online: Sales Vendors
QuickBooks Online: Bill Pay
QuickBooks Online: Banking
QuickBooks Online: Expense Dashboard
QuickBooks Online: Payroll Dashboard
What We Like
Customizable invoicing
Extensive pre-built and custom reports
Automatic exchange rates
What We Don’t Like
Comparatively expensive
Few industry-specific features
Limited users per plan
Overview
Price Range: $
Starting Price: $35/month
Client OS: Web
Deployment: Cloud Hosted

Need a school management software to integrate with QuickBooks? Explore our roundup for school management software

8 Sage Intacct - Best for Multiple Campuses

Why we chose it: Sage Intacct is an accounting and financial management software for schools with complex accounting or multiple campuses. Local school administrators can manage their specific budgets, expenses, and revenues independently from other campuses.

While each campus can manage its own finances, Sage Intacct provides a centralized hub to generate reports for individual campuses or combine reports across all locations for a holistic view. Schools can implement role-based access control, limiting access based on users’ specific financial roles and responsibilities.

Because Sage Intacct is a premium accounting software, smaller schools or schools with tight budgets might find the cost of implementation and licensing higher than other options.

Best for Multiple Campuses:
Sage Intacct
★★★★★
★★★★★
(46)

Sage Intacct: CFO Dashboard
Sage Intacct: Executive Dashboard
Sage Intacct: Contract Journal Balances
Sage Intacct: Project Financial Summary
What We Like
Multidimensional reporting capabilities
Scalability for multi-entity support and user growth
Simple and responsive user interface
What We Don’t Like
Budgeting and interactive reporting cost extra
Limited non-financial functionalities
Volume exports can be difficult
Overview
Price Range: $$$
Starting Price: $8,580/year
Client OS: Web
Deployment: Cloud Hosted

What Is School Accounting Software?

School accounting software helps manage financial and administrative tasks unique to educational institutions. Some schools may use general accounting software. However, administrators may opt for specialized systems that help manage school fund accounting, student fee collections, student records, class registration, classroom supply inventories, or parent-teacher communications.

What Can Accounting Software for Educational Organizations Do for You?

Schools and other educational organizations operate with a mission different from that of a commercial company. Not surprisingly, their accounting needs differ in many ways. That being said, educational organizations and commercial companies share key accounting practices: cash management, analytical report tracking, creating budgets, and identifying and tracking operational costs. Software developed specifically for usage in schools, school districts, and training companies is designed to meet these needs.

Software Designed Specifically for Educational Organizations

Solutions designed generally for commercial use often aren’t adequate for meeting the full needs of educational organizations. Many educational organizations operate on a non-profit basis. Consequently, support for fund accounting practices is an important part of accounting software designed for the educational organization. Additionally, educational organizations typically need to database a considerable amount of information about students and tie it back to accounting records.

Integration Between Accounting and Student Records

Whether your educational organization is a professional training company, a university, a private school, or a school district, utilizing software specifically designed to support educational operations can be beneficial.

One of the key elements of software specifically designed for educational groups is the integration between financial data and student records. Integrated information allows educational entities to lower the total cost of ownership by creating efficiencies associated with keeping all relevant information within one centralized database. Hardware requirements are significantly reduced when records are not duplicated across multiple systems. There is a major time savings impact, as well, when staff can access information easily from within one single system.

Fund Accounting Capabilities

Many educational organizations use fund accounting practices to track the allocation of funds for specific purposes. Funds are essentially accounting entities with self-balancing accounts designed to record cash, other assets, and related balances and liabilities. A fund accounting approach allows educational entities to track all expenditures to specific fund sources.

Benefits of Educational Accounting Software

  • Lower Operation Costs: By having your school’s financial data centralized in one system, schools can streamline their operations and reduce their labor costs. Schools with limited resources can benefit the most by managing the same amount of work with fewer employees
  • Enhanced Compliance and Audit Readiness: Additionally, a unified school accounting system ensures that your educational institution adheres to financial regulations and standards. Many solutions simplify the audit process with audit-ready reports and financial records.
  • Improved Transparency: Accounting software provides better insight into a school’s financial activities, streamlining decisions and communication with stakeholders. This is especially important for non-profit institutions that must build trust with donors to continue receiving donations.
  • Increased Accessibility: Schools transitioning from manual accounting into a digital system can benefit the most from increased accessibility. A digital system makes data entry, sharing documents, and collaborating on financial decisions more efficient than existing manual methods.

Taking the Next Steps

All schools, public and private, need to manage their finances, however, finding the right program for your organization can be a difficult and time-consuming adventure. Whether you are looking for a complete accounting and student management system or specific functionality to augment existing software, through a brief phone call, our software specialists will look to better understand your business and software needs to help you locate the most relevant solutions for your requirements. Get started today!

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