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School Accounting Software


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Intacct logo
 
Intacct offers many useful school accounting features in its Cloud-based software. It supports time and expenses, ordering and billing, revenue management and purchasing, and features automatic email invoicing capabilities.
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Intacct offers many useful school accounting features in its Cloud-based software. It supports time and expenses, ordering and billing, revenue management and purchasing, and features automatic email invoicing capabilities.
 
Cougar Mountain DENALI logo
 
Denali Accounting is a good option for schools that need robust budget management tools with inventory monitoring functionality. The barcode software is an especially good solution for textbook tracking.
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Denali Accounting is a good option for schools that need robust budget management tools with inventory monitoring functionality. The barcode software is an especially good solution for textbook tracking.
 
NetSuite logo
 
Netsuite Financials can aid both K-12 and higher ed institutions that need to manage finances at several different locations. It is also a smart option for schools facing budget cuts and needing a solution with fewer upfront costs
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Netsuite Financials can aid both K-12 and higher ed institutions that need to manage finances at several different locations. It is also a smart option for schools facing budget cuts and needing a solution with fewer upfront costs
 
Multiview logo
 
Multiview brings it experience in over 40 industries to schools and colleges. The flexible system integrates seamlessly with industry-leading applications for payroll, human resources, budgeting, and more.
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Multiview brings it experience in over 40 industries to schools and colleges. The flexible system integrates seamlessly with industry-leading applications for payroll, human resources, budgeting, and more.
 
Sage Live logo
 
Sage Live is a web-based and mobile ready accounting platform for small and mid-sized businesses. Key features include multi-company, multi-currency, and multi-legislation support, personalization based on user role, bank integration,... Read More
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Sage Live is a web-based and mobile ready accounting platform for small and mid-sized businesses. Key features include multi-company, multi-currency, and multi-legislation support, personalization based on user role, bank integration,... Read More

Call us for a free FastStart Consultation: +1 888 918 2748


 
Sage Fixed Assets logo
 
Sage Fixed Assets is a valuable asset management solution for educational institutions of any size. This system is designed to help guarantee more accurate funding and budgeting across your educational organization.
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Sage Fixed Assets is a valuable asset management solution for educational institutions of any size. This system is designed to help guarantee more accurate funding and budgeting across your educational organization.
 
Abila MIP Fund Accounting logo
 
Abilia Fund Accounting (formerly Sage MIP) consolidates records for school-specific procedures and fund accounting in a best-of-breed, Windows-compatible solution that can be deployed either on-premise or Web-based.
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Abilia Fund Accounting (formerly Sage MIP) consolidates records for school-specific procedures and fund accounting in a best-of-breed, Windows-compatible solution that can be deployed either on-premise or Web-based.
 
Deskera logo
 
Deskera is an enterprise resource planning software formulated to run manufacturing operations. The system is suitable for companies manufacturing for a variety of industries. Textiles, automotive, distribution, metal processing, pharmaceuticals,... Read More
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Deskera is an enterprise resource planning software formulated to run manufacturing operations. The system is suitable for companies manufacturing for a variety of industries. Textiles, automotive, distribution, metal processing, pharmaceuticals,... Read More
 
Acumatica ERP logo
 
Acumatica ERP delivers adaptable cloud and mobile technology with a comprehensive user licensing model, enabling a complete, real time view of a business anytime and from any location. Through a worldwide network of partners, Acumatica... Read More
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Acumatica ERP delivers adaptable cloud and mobile technology with a comprehensive user licensing model, enabling a complete, real time view of a business anytime and from any location. Through a worldwide network of partners, Acumatica... Read More
 
FinancialForce Financial Management logo
 
Educational institutions will find that FinancialForce supports needs for managing student records, online registration and more. The system is Cloud-based so users can access it from anywhere with an Internet connection.
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Educational institutions will find that FinancialForce supports needs for managing student records, online registration and more. The system is Cloud-based so users can access it from anywhere with an Internet connection.

Call us for a free FastStart Consultation: +1 888 918 2748


 
Xledger logo
 
Xledger is an automated and scalable cloud-based accounting/ERP solution for medium- to large sized companies and is designed to provide insight and analytics for decision-makers. The system is an out-of-box solution that is configurable... Read More
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Xledger is an automated and scalable cloud-based accounting/ERP solution for medium- to large sized companies and is designed to provide insight and analytics for decision-makers. The system is an out-of-box solution that is configurable... Read More
 
Fusebill logo
 
Fusebill provides businesses with cloud-based financial and accounting processes, including core accounting, billing and invoicing, financial reporting and more. The system is suitable for small businesses, as well as midsize companies... Read More
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Fusebill provides businesses with cloud-based financial and accounting processes, including core accounting, billing and invoicing, financial reporting and more. The system is suitable for small businesses, as well as midsize companies... Read More
 
SAP Business One logo
 
Because SAP Business One can perform tasks like keeping student and financial profiles together in a single database, it is a strong choice for school management needs.
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Because SAP Business One can perform tasks like keeping student and financial profiles together in a single database, it is a strong choice for school management needs.
 
Microsoft Dynamics GP logo
 
Academic administrators will find NetSuite Financials is an accessible cloud-based financial platform. It is best for medium to large educational institutions that need a feature-rich system with customizable options.
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Academic administrators will find NetSuite Financials is an accessible cloud-based financial platform. It is best for medium to large educational institutions that need a feature-rich system with customizable options.
 
Unit4 Business World logo
 
UNIT4 Agresso, offers best-of-breed accounting software for schools, colleges and other academic institutions. It is best for medium to large organizations that need a feature-rich system.
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UNIT4 Agresso, offers best-of-breed accounting software for schools, colleges and other academic institutions. It is best for medium to large organizations that need a feature-rich system.

Call us for a free FastStart Consultation: +1 888 918 2748


 
Infor SunSystems logo
 
Infor SunSystems is an integrated financial management, purchasing, inventory and sales management solution. It is used by more than than 9,000 customers in over 190 countries worldwide. Offered in multiple languages and currencies,... Read More
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Infor SunSystems is an integrated financial management, purchasing, inventory and sales management solution. It is used by more than than 9,000 customers in over 190 countries worldwide. Offered in multiple languages and currencies,... Read More
 
SapphireOne logo
 
SapphireOne is an accounting solution built for any size enterprise. The system integrates information from all relevant business departments. Key features include asset management, account management, payroll and reporting. SapphireOne... Read More
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SapphireOne is an accounting solution built for any size enterprise. The system integrates information from all relevant business departments. Key features include asset management, account management, payroll and reporting. SapphireOne... Read More
 
Sage X3 logo
 
Sage X3 is an enterprise business management software suite that includes integrated functionality for financial management, sales, customer service, distribution, inventory, and manufacturing, and business intelligence. Sage X3 is... Read More
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Sage X3 is an enterprise business management software suite that includes integrated functionality for financial management, sales, customer service, distribution, inventory, and manufacturing, and business intelligence. Sage X3 is... Read More
 
SAP Business ByDesign logo
 
Offering users a broad range of organization management applications ranging from accounting to HR to project management. This web-based solution lets you pick and choose the functions you need for full customization.
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Offering users a broad range of organization management applications ranging from accounting to HR to project management. This web-based solution lets you pick and choose the functions you need for full customization.
 
Financial Suite by IntelliTek logo
 
Financial Suite by IntelliTek is the financial component of IntelliTek Systems’ broader ERP offering. Financial Suite by IntelliTek is an ideal accounting systems for small and mid-market companies. The platform is comprises of Accounts... Read More
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Financial Suite by IntelliTek is the financial component of IntelliTek Systems’ broader ERP offering. Financial Suite by IntelliTek is an ideal accounting systems for small and mid-market companies. The platform is comprises of Accounts... Read More
 

Buyer's Guide

by Eileen O'Loughlin,
Market Research Associate
Last Updated: May 19, 2017


A well-run administration is essential to the overall quality of an educational institution. When financial operations are functioning as they should, academic leaders are able to concentrate their efforts on the ultimate goal: providing excellent services for students that help expand their horizons and lead to personal growth.

Buying dedicated software to handle the accounting side of your academic institution can help staff work to their fullest potential by automating error-prone, time-consuming tasks. All kinds of educational organizations can benefit from this software, including:

  • Private institutions
  • Public schools
  • Universities and colleges
  • School districts

We wrote this guide to help you better understand how education accounting software works and key considerations for selecting a solution.

Here's what we'll cover

What Is Education Accounting Software?
Common Features of School Accounting Software
Benefits of Education Accounting Software
Evaluating Education Accounting Software
Deployment Options

What Is Education Accounting Software?

Since the students are the benefactors of the educational system, it’s not surprising that integrating student records should be a top priority of educational institution accounting software. Consolidating these records into one centralized database minimizes confusion and allows for improvements in efficiency, avoiding cumbersome duplicates in data entry.

Along with this database, education accounting systems can track funds for school-specific procedures and considerations such as online student fee processing and registration, textbook tracking, retention rates and educational budgeting and forecasting.

In this guide, we'll cover the functionality most important to those in the education industry, as well as best practices for evaluating these solutions.

Common Features of School Accounting Software

In addition to core modules, education accounting software typically includes the following:

Student records The crucial and extensive data associated with student records requires a robust solution that integrates that information with the accounting. Grades, extra-curricular activities and class schedule can be managed within the system.
Online registration & payment A robust educational software solution will allow students and their payments to register and pay for classes online and then have registration tie directly to the student record.
Inventory & facility management Schools deal with many different kinds of inventory—from classroom, supplies and textbooks to desks, computers and sports equipment. In addition to physical assets, school buildings and property also need ongoing repairs and maintenance. Being able to track and manage all of these details helps keep tabs on school assets and prevent loss.
Fund accounting Funds are self-balancing accounts designed to record cash, related assets/balances and liabilities. Fund accounting helps educational entities track all expenditures back to specific sources, so that donations and other funds can be used for the designated purpose.
Point of sale system For items being sold on campus (i.e., meals in the cafeteria), a point-of-sale system can help you manage cash operations, improve speed and accuracy service and track sales.

Benefits of Education Accounting Software

Here are just some of the benefits your organization can realize after implementing education accounting software:

  • Lower operational costs. Some schools have particularly limited resources and can’t afford for their staff to spend time entering the same data in different systems. By centralizing information in one software, your team can create efficiencies and reduce labor costs.
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  • More accurate forecasting. Another downside of using disparate software systems is that it can lead to non-standardized data. This makes it more difficult to prepare financial forecasts and may lead to less accurate results.
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  • Greater accessibility. This benefit is especially clear for educational institutions that are buying software for the first time. If they’ve only been using manual methods up to this point, they’ll realize how much easier it is to enter, share and collaborate on accounting tasks with a dedicated digital solution. School districts that account for multiple locations and higher education academies with more than one campus will also find value in how much more accessible accounting software is compared to paper-based recordkeeping.
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  • Improved transparency. Since software gives you greater visibility into your organization’s costs and expenditures, it is easier to pass this knowledge along to stakeholders and donors. Many academic centers are nonprofit entities, so this is a particularly important benefit for them. For example, software enables administrators to generate reports that summarize how every cent of a particular grant was used, which builds trust with donors and may encourage them to make future contributions.

Evaluating Education Accounting Software

A special consideration for schools is whether or not this software is necessary. Many educational organizations operate as nonprofits and therefore need solutions for fund accounting. Self-balancing fund ledgers are appropriate for these organizations and should be a priority in their search.

When these systems, buyers should consider the following:

  • Will it have fund accounting ledgers for nonprofit organizations?
  • Can it effectively maintain a large centralized database of student records?
  • Are there convenient tools for course registration and student fee processing?
  • Are there other helpful tools, such as logging check-out of fixed assets?

Deployment Options

Now that you’ve got a good understanding of what software can do for your organization, it’s time to break down your deployment options. You have two main choices to make:

  • Subscription license vs. perpetual license: Perpetual license systems require an upfront lump sum while subscription licenses need you to make periodic payments. The amount of users may affect the system’s pricing.
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  • Cloud-based vs. on-premise: In cloud-based systems, which are also known as Software-as-a-Service (SaaS), administrators don’t have to buy or maintain servers because the system is hosted remotely. This usually results in lower upfront costs. That said, some institutions may prefer on-premise systems because they are often easier to customize and they already have the IT staff to maintain the servers.

We should note that on-premise software is often licensed under a perpetual model, while cloud-based systems usually require subscription fees.

Your final choice should depend on your budget and needs. You should also take into consideration how much your institution expects to grow in the next few years. For example, if your organization currently serves elementary school students only, but you’re hoping to expand to junior high soon, it’s likely better to go for a more robust solution that can scale with you.

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