Top-Rated SaaS Financial Management Tools for K-12 Schools

Efficient and accountable financial management is nonnegotiable in today’s K-12 landscape. Outdated, traditional software packages can’t keep pace with the complex demands of modern schools. They must invest in a reliable, integrated finance system that unifies day-to-day operations, promoting efficiency and transparency. Discover six top-rated SaaS financial management tools for K-12 schools.

Fund Management & Compliance

KEV School Solutions is one of the top-rated SaaS financial management tools for K-12 schools. It has been trusted by over 1,000 districts and 26,000 schools for almost 30 years. It integrates fees, payment, audit reporting and accounting in a single, cloud-based platform to improve planning and decision-making processes.

You can also connect your existing enterprise resource planning (ERP), student information systems (SIS), nutrition services software and library systems for a seamless experience. The platform enhances day-to-day operations, including managing fund accounting, maintaining audit-ready financial reports, and managing fees and payment processing. It can also set up and assign fees to students in seconds.

KEV School Solutions has various security compliance certifications, ensuring a clean, transparent and stress-free experience for finance teams. Visit the website to book a call with customer service.

Key Features

• Lets you manage all school funds in one secure, cloud-based platform
• Accepts and tracks payments for fees, activities and events online
• Generates real-time, audit-ready reports for transparency and compliance
• Seamlessly connects with student information and district accounting systems

Client Review

“Technology that tightly integrates online payments with accounting is the most powerful solution I’ve seen for preventing school fraud. From the second a payment is made, we are able to track it through a digital trail.” – Matthew M. from Burnaby School District.

PowerSchool — Best for Unified Finance & HR for District-Wide Efficiency

PowerSchool offers eFinancePlus — a cloud-based platform that centralizes and secures financial data. It helps school staff organize and use insights to drive better outcomes.

The platform provides finance officers with a separate ledger to track projects and grants, a chart of accounts with client-specific segments, and encumbrance accounting. HR staff can also access the platform to manage daily schedules, employee information and attendance. Finance teams can see billing, receipts and real-time analytics.

PowerSchool also offers other services for personalized learning, student success and AI integrations. The K-12 platform helps your school stay in compliance with ever-changing regulatory requirements. Visit the website to get a demo.

Key Features

• Manages budgeting, payroll and HR in one system
• Monitors expenditures and allocations with up-to-date dashboards
• Offers tools for state and federal financial reporting

Client Review

“PowerSchool Connected Intelligence has been nothing but transformative and enhanced our ability to support schools by helping us automate processes that provide schools with actionable information to inform instructional planning and support.” – Dr. Angel T. from Volusia County Schools.

Frontline Education — Best for Integrated Budgeting & Grant Compliance for K-12

Frontline Education offers reliable SaaS financial management solutions for K-12 institutions to improve compliance, save time and make better strategic decisions. Its connected systems and analytics tools allow you to keep budget accountability, manage costs, optimize resources, and ensure compliance. The web-based software also lets you streamline manual processes like budgeting, procurement and payment in one system.

The entity has an exclusive partnership with Wagestream, which allows flexible pay options. This feature allows employees to acquire a portion of their earned but not yet paid wages at any time. Such a perk can attract new talent and reduce turnover. Visit Frontline Education’s website to talk to a frontliner.

Key Features

• Streamlines all financial operations in a single, web-based platform
• Gains insights with customizable financial dashboards
• Simplifies payroll processing and benefits administration

Client Review

“When we bring new employees on board who have come from a situation where they were getting paid every other week, and now it’s monthly pay, for some of them that’s a turnoff. They just can’t. They are just not in a financial position where they can even make that leap to us. I thought, ‘Frontline Flex Pay could help with that as well.’” – Dr. Sharra S. from Bellevue Public Schools.

Tyler Technologies — Best for Enterprise-Grade Fund Accounting for Public Schools

Tyler Technologies offers an SaaS-based financial management platform specifically for K-12 schools. The School ERP provides cloud access, real-time data and integrated financial tools. It streamlines all of your district’s business functions to increase efficiency and improve data integrity.

Fully scalable and customizable, Tyler Technologies gives you the flexibility to tailor your system to your unique needs. The School ERP Pro has comprehensive solutions, including financial management, reporting, analytics and human resources.

SISFin™ has tools that let you report on district budgets, create a detailed history of financial information, access school district personnel files and manage payroll. Visit the website and contact the team for more details.

Key Features

• Manages multiple accounts and funds with full audit trails
• Streamlines purchasing, approvals and vendor management
• Provides customizable views for administrators, the finance team and auditors

Client Review

“Our decision was simple when we realized they weren’t just selling us a financial management product but rather a partnership. [Tyler], above all others, demonstrated a complete commitment to our future success. They understood our need to unify the complex information and reporting demands school district managers face into one comprehensive solution.” – Rebecca Williams from Cajon Valley Union School District, California

MIP Fund Accounting Software — Best for Flexible Fund Accounting for School Districts

MIP Fund Accounting Software provides accounting software for K-12 schools managing complex financial processes. Its core accounting functionalities let you track and account for funds, services, grants, projects, locations, and more. Generate reports directly within the platform and choose among the dynamic report templates to simplify your data.

The platform provides your staff with easy access to financial data so you can build budgets and track expenses together. With MIP Fund Accounting Software’s financial, human resource and payroll capabilities, your organization can make strategic decisions across areas like tuition management and admissions. Visit the website to request a demo.

Key Features

• Tracks and reports on multiple funds, grants and programs
• Builds reports tailored to school and district needs
• Maintains compliance with built-in audit trails and controls

Client Review

“MIP is so cost-effective and easy to use that when the organization doubled in size in terms of personnel and budget it was no question that we would be keeping MIP as our accounting system. Because we were so confident in the product, we were able to focus more on our programs and other work and not have to worry about MIP’s ability to grow as we do.” – Anna L. from New Visions for Public Schools Education Management

SAS — Best for Advanced Analytics for Data-Driven School Finance

SAS provides a reliable K-12 education financial management software to monitor school funding and expenditures. The robust, centralized data platform transforms data silos into usable information to ensure transparency and equity of education funding. It lets you determine how grants are being allocated, meet federal requirements with detailed reports and mitigate potential gaps by forecasting finances.

You can seamlessly manage, report, integrate, analyze and visualize data from various systems within a single platform. Develop static and interactive reports that stakeholders and industry leaders can easily access and understand.

SAS lets you integrate time-saving tools so your staff can focus on high-value tasks and drive real change for students. Visit the website to chat with a customer representative.

Key Features

• Uses predictive analytics for forecasting and budgeting
• Connects financial, HR and student data for comprehensive insights
• Provides tools to ensure ongoing regulatory compliance

Client Review

“This partnership with SAS for advanced data analytics, artificial intelligence and machine learning capabilities empowers higher education institutions to make data-driven decisions that support student success.” – Susan H. from Midwestern Higher Education Compact

A Summary of the Top-Rated SaaS Financial Management Tools for K-12 Schools

Here’s a quick rundown of the best companies that offer SaaS financial management tools.

Company	Main Features
KEV School Solutions	Centralized fund management and robust security
PowerSchool	All-in-one finance and HR management platform
Frontline Education	Accounting tools and automated payroll
Tyler Technologies	Fund accounting and role-based dashboards
MIP Fund Accounting	Multi-fund tracking and audit-ready controls
SAS	Predictive analysis and compliance monitoring

Why You Need a SaaS Financial Management Tool Provider That Specializes in K-12 Schools

Managing school finances can be challenging. For example, in Massachusetts, many school leaders are facing budget shortfalls due to declining enrollment, high inflation and the expiration of federal COVID-19 Relief funds. Choosing a SaaS financial management provider specializing in K-12 institutions helps you stay on top of these challenges through these tailored solutions:

• K-12-specific compliance and reporting: A specialist provider understands the complexities of managing student fees and handling multiple payment plans, and builds features to support them.
• Robust security: Education data is sensitive. A purpose-built K-12 system can provide strong security features to prevent fraud and breaches.
• Audit readiness: K-12 schools are often subject to audits. Every transaction must be properly documented and reported. A cloud-based platform provides accurate data and reporting features to avoid penalties.
• Streamlined workflow: A K-12 school deals with donations, tuition, and other funds that require careful oversight to maintain trust and transparency. A modern financial management system simplifies workflow and automates repetitive tasks so you can focus on what matters most.

Invest in a Top-Rated SaaS Financial Management Tool for Your K-12 School 

Investing in the right cloud-based platform can transform your financial operations and free up resources to focus on student success. Take the first step today — explore these options and contact a few prospects to discover the perfect fit for your school’s unique needs.