6 School Accounting Software Options That Will Foolproof Your School’s Finances

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Accounting errors are a serious threat to schools nationwide.

Consider the University Laboratory High School in Urbana, Illinois. This otherwise successful school accidentally ran a one million-plus deficit in 2014 because it was withdrawing from the wrong account.

Errors like this can put a school out of business.

Historically, most schools have defaulted to using general accounting software. But, this type of software has its limitations, and can’t be tailored to suit school administration needs such as student fee collection, online storefront accounting, and teacher/parent communication.

School administrators need to be able to track fund allocation, and integrate this information with student records. When schools use multiple software systems to achieve that goal, unnecessary steps and human error are almost guaranteed.

With all this in mind, we gathered six school accounting software options to help you address budget issues at your school. We’ve got a quick overview of each option—including a list of features—to help you make the right decision.

Let’s get started!

Software options presented in alphabetical order.

1. Active Educate

School accounting software - Active Educate

Invoice tracker (via Active Educate)

Active Educate offers a complete, school accounting software package. Parents and administrators turn to Active Educate for its user friendliness.

The company offers extensive training through free webinars, help files, and 24/7 user support, all with the goal of end users never feeling lost while using the system.

From managing school equipment rentals to donations, Active Educate is one of the most versatile school accounting software options around.

Features:

  • Student fee collection
  • Inventory tracking
  • Online storefront integration
  • Customizable receipting
  • Equipment tracking
  • Fundraising and donation modules
  • Online credit card payments
  • Customizable reporting

Have you used Active Educate? Be sure to leave a review!

2. HeadMaster

School accounting software - Headmaster

HeadMaster’s main dashboard (via HeadMaster)

HeadMaster is a school administration tool focused on Christian schools serving grades kindergarten through 12. HeadMaster lets you integrate its accounting system with their own full administration software, which can process a variety of payment types (including mobile).

Parents can use the system to check their tuition balance, eliminating unnecessary back-and-forth. HeadMaster also includes lunchroom accounting and payroll functionality.

Features:

  • Tuition management
  • Student profiles
  • General ledger
  • Invoicing
  • Credit card payments
  • Payroll management

Have you used Headmaster? Be sure to leave a review!

3. PraxiSchool

School accounting software - PraxiSchool

Transaction tracking (via PraxiSchool)

PraxiSchool offers a host of helpful school administrative features, including attendance tracking, discipline management, and cafeteria management. Schools—both private and public—can use PraxiSchool to organize their budgets, reconcile bank statements, write and distribute checks, and manage accounts payable and receivable.

PraxiSchool is a great option for schools looking to get rid of information duplication across platforms by switching to a complete school administration system.

Features:

  • Tuition management
  • General ledger
  • Automated billing
  • Credit card payments
  • Customizable reporting

Have you used PraxiSchool? Be sure to leave a review!

4. Rediker FINACS/AP Accounting

School accounting software - Rediker

Budget dashboard (via Rediker)

Rediker FINACS/AP Accounting is a great school accounting add-on option for international schools that integrates with the full Rediker school administration system.

With its ability to balance dual currencies and provide country-specific reports, Rediker provides an accounting solution that many international schools lack. Rediker offers tools for every rung on the school administration ladder, from superintendents tracking admissions fees to cafeteria directors budgeting for student meals.

Features:

  • Online bill payments
  • Multiple currency options
  • Quick access dashboard reporting
  • ACH bank payments
  • Customizable reporting
  • Invoicing
  • Check printing
  • Collections reporting

Have you used Rediker? Be sure to leave a review!

5. RenWeb with QuickBooks Integration

School accounting software - RenWeb

Contact database (via RenWeb)

According to Capterra’s original research, RenWeb is the second most popular school administration software in the world. RenWeb offers more than 300 features for school administrators, including QuickBooks integration.

The QuickBooks integration, combined with RenWeb’s robust list of features, helps schools streamline family account management, billing, and asset management. RenWeb also gives schools the option of starting with just QuickBooks, and moving into a more robust school administration software as they grow. While two software options are necessary to unlock all of these capabilities, the robust list of features offered by RenWeb that work in conjunction with QuickBooks makes the pairing worth your while.

Features:

  • Billing and invoicing
  • Customizable reporting
  • General ledger

Have you used RenWeb? Be sure to leave a review!

6. Senior Systems: Ascendence Business Office

School accounting software - Senior Systems

Balance sheet via Senior Systems

Need a system designed to manage tuition, break down budgets by department, and cover general accounting? Business Office offers school-specific accounting software that does all this, and more.

With add-ons like online budget management, asset management, and community online enrollment, Business Office is great for private and independent schools looking for the flexibility to manage their own finances from start to finish.

Features:

  • General ledger
  • Accounts receivable
  • Customizable dashboards
  • Customizable reporting
  • Purchase orders

Have you used Senior Systems? Be sure to leave a review!

Other school administration tools

None of the six options on this list provide easily accessible pricing tiers; costs are negotiated with the buyer.

As a lack of pricing information can indicate a higher expense, I’ve put together a list of Free and Open Source School Accounting Software Options that won’t put a huge dent in your wallet.

Capterra’s school administration blog offers technology tools and resources to help you streamline your staff, students, and finances. Here are a few posts to get you started:

Are there any other school accounting programs that should have been included in this piece? What are some of the accounting challenges your school faces? How has software helped? Let me know in the comment section below!

Looking for School Accounting software? Check out Capterra's list of the best School Accounting software solutions.

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About the Author

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Nick Morpus

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Nick Morpus is a former Capterra analyst.

Comments

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I think the above software are well and good in Features. I also suggest to check the Schoolzen – Which is used for the student management, Scodoo – An full featured ERP for the school management system / school administration software, Koan – It used for Conducting online assessment for the students, Teachsprout – for teachers skill development and more. All these software are cloud based and especially made for the school automation system. Check for more details on http://educationzen.com

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You can list one more school accounting software developed by MasterSoft which is very famous amongst Indian school. They offer customized software as per the client requirement. This software not only takes care of attendance of staff but also perform variously finance related activities like monthly salary calculation, income tax deduction, supplementary bills, provident fund & loan management, etc. For more details you can visit here – https://www.iitms.co.in/school-erp/finance/

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We need a school management software that could manage in one package:
1. Accounting aspects like: Expenses/payments, revenues, banks and cash, accounts receivable and age analysis of debts, payables and age analysis of payables, Profit and loss, balance sheet, trial balance et and School administration modules like:
-Attendance management for students and lecturers
-Results management/Records
-School program and individual courses time table management.

We and others will need a package like this ; but if there is any already could we be recommended it.
Thanks.

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