There should be the ability for both the school and parents to pull a report of a summary of all billing items on an account by student. While families can view their billing detail the "printer friendly" version is not good enough for tax purposes and it should include the school name with tax ID.
While there is a year end statement parents should be able to pull a report throughout the year with the summary of their billing. The school should also be able to run reports like these from the reports page.