What is the best accounting software for schools?
The best accounting software for schools should improve the automation, flexibility and visibility of educational finance management and operational processes. With the right software, school finance managers and non-finance staff should feel empowered to make data-driven decisions for their school or Multi-Academy Trust.
With this in mind, how do you know what to look for when researching the best accounting software for your educational institution? There’s a number of essential features that you need to consider, and we’ve outlined them here to help make your decision as easy as possible.
The best accounting software for schools should be
Can my school use generic accounting software?
Accounting software designed for SMEs could theoretically be used in schools, but it is not guaranteed to help with essential functions, such as:
- Complying with education-specific regulations
- Getting the information you need at a glance
- Having a customer service team that understands the requirements of a school
Choosing school accounting software which has been designed by educational specialists is likely to provide better functionality, streamlined workflows and, most importantly, tailored support from people who understand your situation.
What accounting software is best for your school?
In some cases, school accounting software will not include all of the features listed above, so you need to determine what is the minimum needed for your institution.
Consider the needs of your school, academy or large-scale MAT
Do you have a hybrid, remote or mixed-location team that needs off-site access to your accounting software? Are you a Multi-Academy Trust who needs centralised control over banking, journals and purchase invoices? Then cloud-based software should be your priority.
Will you have different members of staff from non-financial backgrounds downloading reports to present and analyse performance? Is your institution a small private school with very unique requirements? You’ll need to opt for software which has been made for and designed by education specialists.
What happens if you want the best accounting software for schools without any compromise?
Fortunately, Access Education’s cloud-based financial management system offers all of the listed features and functionality, as well as DfE automation and specialist support for schools of all sizes. If you’re concerned about disrupting your existing processes, Access Education also offers remote implementation and training by a team of experts, helping your institution adapt to change smoothly.
School accounting software FAQs
Can my school use generic accounting software?
Accounting software designed for SMEs could theoretically be used in schools, but it is not guaranteed to help with essential functions, such as:
- Complying with education specific regulations
- Getting the information you need at a glance
- Having a customer service team that understands the requirements of a school
- Choosing school accounting software which has been designed by educational specialists is likely to provide better functionality, streamlined workflows and, most importantly, tailored support from people who understand your situation.
What accounting software is best for your school?
In some cases, school accounting software will not include all of the features listed above, so you need to determine what is the minimum needed for your institution.
What next?
With everything we’ve discussed in mind, it’s clear that the best accounting software for schools leave no stone unturned when it comes to scalability, usability and compliance. Choosing a solution that works for you will require considerable thought about your institution’s unique needs and plans for the future.
If you’re currently looking for specialist software to implement for your educational institution, you can learn more about Access Education’s school accounting software or find out how to choose the right financial system for your school in our helpful report.