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11 Ratings

Financial Edge NXT

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Top Rated
89 Ratings
11 Ratings
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Score 8.7 out of 101

Financial Edge NXT

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Top Rated
89 Ratings
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Score 8.2 out of 101

Add comparison

Likelihood to Recommend

Acumatica 5.0

As I have only used it in one business I can't say too much how relevant it would be for other types of business, eg Retail or Manufacturing. It doesn't appear to be specifically set up for ecommerce.

We wholesale products and it works well for that kind of business model.
Justin Leflaive profile photo

Financial Edge NXT

Financial Edge NXT is very well suited for the school environment.
Pamela Wittmayer profile photo

Feature Rating Comparison

Customization

Acumatica 5.0
7.0
Financial Edge NXT
6.7
API for custom integration
Acumatica 5.0
7.0
Financial Edge NXT
7.9
Plug-ins
Acumatica 5.0
Financial Edge NXT
5.6

Security

Acumatica 5.0
7.0
Financial Edge NXT
7.0
Role-based user permissions
Acumatica 5.0
7.0
Financial Edge NXT
6.8
Single sign-on capability
Acumatica 5.0
Financial Edge NXT
7.1

Reporting & Analytics

Acumatica 5.0
6.7
Financial Edge NXT
6.7
Dashboards
Acumatica 5.0
4.0
Financial Edge NXT
6.8
Standard reports
Acumatica 5.0
7.0
Financial Edge NXT
6.7
Custom reports
Acumatica 5.0
9.0
Financial Edge NXT
6.5

General Ledger and Configurable Accounting

Acumatica 5.0
8.3
Financial Edge NXT
7.0
Accounts payable
Acumatica 5.0
10.0
Financial Edge NXT
7.1
Accounts receivable
Acumatica 5.0
8.0
Financial Edge NXT
6.2
Global Financial Support
Acumatica 5.0
5.0
Financial Edge NXT
Intercompany Accounting
Acumatica 5.0
9.0
Financial Edge NXT
Journals and Reconciliations
Acumatica 5.0
10.0
Financial Edge NXT
Standardized Processes
Acumatica 5.0
8.0
Financial Edge NXT
Cash management
Acumatica 5.0
Financial Edge NXT
6.8
Bank reconciliation
Acumatica 5.0
Financial Edge NXT
7.0
Expense management
Acumatica 5.0
Financial Edge NXT
7.3
Time tracking
Acumatica 5.0
Financial Edge NXT
6.5
Fixed asset management
Acumatica 5.0
Financial Edge NXT
7.0
Multi-currency support
Acumatica 5.0
Financial Edge NXT
7.8
Multi-division support
Acumatica 5.0
Financial Edge NXT
7.0
Regulations compliance
Acumatica 5.0
Financial Edge NXT
7.6
Electronic tax filing
Acumatica 5.0
Financial Edge NXT
5.6
Self-service portal
Acumatica 5.0
Financial Edge NXT
8.0

Inventory Management

Acumatica 5.0
8.5
Financial Edge NXT
Inventory tracking
Acumatica 5.0
9.0
Financial Edge NXT
Location management
Acumatica 5.0
8.0
Financial Edge NXT

Order Management

Acumatica 5.0
9.3
Financial Edge NXT
5.0
Pricing
Acumatica 5.0
10.0
Financial Edge NXT
5.6
Order entry
Acumatica 5.0
9.0
Financial Edge NXT
Cost of goods sold
Acumatica 5.0
8.0
Financial Edge NXT
2.7
End-to-end order visibility
Acumatica 5.0
10.0
Financial Edge NXT
Credit card processing
Acumatica 5.0
Financial Edge NXT
6.6

Subledger and Financial Process

Acumatica 5.0
6.8
Financial Edge NXT
Automated Invoice Processing
Acumatica 5.0
7.0
Financial Edge NXT
Customer Collections
Acumatica 5.0
7.0
Financial Edge NXT
Cash Management
Acumatica 5.0
7.0
Financial Edge NXT
Period Close
Acumatica 5.0
6.0
Financial Edge NXT

Payroll Management

Acumatica 5.0
Financial Edge NXT
5.4
Pay calculation
Acumatica 5.0
Financial Edge NXT
5.2
Direct deposit files
Acumatica 5.0
Financial Edge NXT
5.4
Salary revision and increment management
Acumatica 5.0
Financial Edge NXT
4.6
Reimbursement management
Acumatica 5.0
Financial Edge NXT
6.3

Pros

  • Generic Inquiries are a very easy way to create custom reports.
  • The automation schedules are useful, we use these for confirming of shipments, creating invoices and emailing them. Reduces workload.
  • Open for integration with other software. We find the ease of connection to MS PowerBI very useful.
Justin Leflaive profile photo
  • Data entry is much easier with NXT especially for accounts payable
  • Reporting is fantastic with the ability to drill down in the reports to the detail and to export reports in more consistent formats (PDF, Excel)
  • Bank reconciliation is a breeze with the cash management capabilities
Pamela Wittmayer profile photo

Cons

  • The CRM module is very basic.
  • There is no supplier remittance function.
  • The API is basic, our ecommerce integration has had to be built nearly from scratch.
Justin Leflaive profile photo
  • The dashboards need to be imported onto company website for board review
  • The financial reports generated within the program should be as appealing (not so canned) to the ones we have to format in excel
  • Implementation costs could be a lot less
No photo available

Likelihood to Renew

Acumatica 5.09.0
Based on 1 answer
It is very customisable and good value for money. It is also scalable for the future. The CRM and ecommerce integtration are the main downsides.
Justin Leflaive profile photo
Financial Edge NXT8.1
Based on 3 answers
There aren't too many non-profit specific financial/accounting software solutions available. Even so, Financial Edge NXT meets the needs of our staff and allows us to operate efficiently.
Gregory Seay, CMA, CPA profile photo

Usability

No score
No answers yet
No answers on this topic
Financial Edge NXT5.5
Based on 1 answer
Still needs development to match the old client server version
Michael Downs profile photo

Support

No score
No answers yet
No answers on this topic
Financial Edge NXT8.2
Based on 2 answers
Quick, responsive. Keep us in the loop on where the case stands. Chat feature.
Michael Downs profile photo

Implementation

No score
No answers yet
No answers on this topic
Financial Edge NXT6.4
Based on 1 answer
From an IT perspective, read up on the user setup integrated with the DB View
Michael Downs profile photo

Alternatives Considered

NetSuite is much more expensive and is difficult to customise or integrate.
SAP is a more complex and powerful system, but several times more expensive to implement and run.
Justin Leflaive profile photo
PeachTree Accounting Software which we discontinued because of the batching and it now having "real time". Red Wing Controller was extremely user friendly and I generally recommend that to constituents. QuickBooks was another option used by our sister company and it was able to preform similar task at a much lower costs.
No photo available

Return on Investment

  • Time to match customer payments has decreased by approximately 30%.
  • Time to enter sales orders has decreased by approx 10%.
  • It has enabled up to easily access our system remotely, meaning we are able to be more flexible in our work.
Justin Leflaive profile photo
  • Positive impact on our desire to 'modernize' (i.e. getting a system that looks and feels more contemporary than our previous accounting systems).
  • Generally positive impact in our ability to streamline or simplify some of our accounting processes that took longer in our previous accounting system.
  • Negative cost impact in that we pay much more for NXT than our old system. In retrospect it may not have been worth it to pay for 'NXT', and we might have just gone with the database view, as that is perfectly suitable. But admittedly I am not sure about the pricing difference.
No photo available

Screenshots

Acumatica 5.0

Pricing Details

Acumatica 5.0

General
Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Entry-level set up fee?
No
Additional Pricing Details

Financial Edge NXT

General
Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Yes
Entry-level set up fee?
Required
Additional Pricing Details