Blackbaud Financial Edge NXT... great for small schools.
We use the Blackbaud Financial Edge NXT in our fundraising office. Blackbaud Financial Edge NXT is rebranded as Raiser's Edge in the …
Overview
What is Blackbaud Financial Edge NXT?
Financial Edge NXT is a cloud accounting solution tailored for nonprofits that provides a general ledger, projects, grants, endowments, accounts payable and receivable, fixed assets, banking, and more. It offers real-time reporting, with one-click drill-down functionality and export capability.
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Analyst in Finance and Accounting
USF Research Foundation (Research, 51-200 employees)
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What is Blackbaud Financial Edge NXT?
Financial Edge NXT is a cloud accounting solution tailored for nonprofits that provides a general ledger, projects, grants, endowments, accounts payable and receivable, fixed assets, banking, and more. It offers real-time reporting, with one-click drill-down functionality and export capability.
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- Setup fee required
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Product Details
- About
- Integrations
- Competitors
- Tech Details
- Downloadables
- FAQs
What is Blackbaud Financial Edge NXT?
Financial Edge NXT is a cloud accounting solution from Blackbaud that is designed to provide transparency across teams, security, compliance, and reduce the need for manual processes. The system is a fund accounting solution that provides a general ledger, projects, grants, endowments, accounts payable and receivable, fixed assets, and banking.
This solution includes a personalized dashboard and customizable views. Financial Edge NXT enables users to closely monitor income statements, program-to-expense ratios, cash balances, and other key metrics. Financial Edge NXT offers real-time reporting, with one-click drill-down functionality and export capability, to enable data-driven decisions in real time.
The system allows users access to grant and project accounting that allows for streamlined management of budget, as well as a way to effectively monitor accounts and generate reports. The vendor’s value proposition is that by using Financial Edge NXT, nonprofits can reduce dependency on manual processes, thus improving data entry accuracy.
Blackbaud Financial Edge NXT Features
- Supported: Cloud Based
- Supported: advanced allocations management
- Supported: Flexible chart-of-accounts structure
- Supported: Project, Grant and Endowment reporting
Blackbaud Financial Edge NXT Screenshots
Blackbaud Financial Edge NXT Video
Nonprofit accountants attended bbcon 2016. They describe how Financial Edge NXT helps organizations spend more time focusing on their missions.
Blackbaud Financial Edge NXT Integrations
- PairSoft
- BizNet Software
- AvidXchange
- Infor F9
- Advanced Budget Management
Blackbaud Financial Edge NXT Competitors
Blackbaud Financial Edge NXT Technical Details
| Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| Operating Systems | Unspecified |
| Mobile Application | Apple iOS, Android, Mobile Web |
| Supported Countries | United States, Canada |
| Supported Languages | English |
Blackbaud Financial Edge NXT Downloadables
Frequently Asked Questions
Financial Edge NXT is a cloud accounting solution tailored for nonprofits that provides a general ledger, projects, grants, endowments, accounts payable and receivable, fixed assets, banking, and more. It offers real-time reporting, with one-click drill-down functionality and export capability.
Sage Intacct, MIP Fund Accounting, and Microsoft Dynamics 365 are common alternatives for Blackbaud Financial Edge NXT.
Reviewers rate Usability highest, with a score of 8.
The most common users of Blackbaud Financial Edge NXT are from Mid-sized Companies (51-1,000 employees).
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Reviews
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June 14, 2023
Outstanding user friendly product
Blackbaud Financial Edge NXT is able to provide amazing reports which are informative and customizable. We also use the projects feature. For us, each project equals one house, so we can easily record the income and expenses for each house. Finally, invoice entry is simple and complete.
- Copies prior transactions for easy entry
- Well defined reports
- Easy bank reconciliation
- Sometimes there is a slight loading glitch where you are waiting for something to load.
- Sometimes transactions default to the first value instead of the correct value. My transactions sometimes default to petty cash.
We use Blackbaud Financial Edge NXT as our company's complete accounting solution. We are a non-profit in the higher education space, raising resources for an affiliated community college, so it was of primary importance to have a product that integrated well with our donor database management solution, which is currently Raiser's Edge NXT. Blackbaud Financial Edge NXT easily handles the unique demands of nonprofit accounting for tracking net assets in restricted and unrestricted classes, in all ledgers. Because the two products are integrated, gift processing and reconciliation are part of a seamless workflow.
- Robust tools for custom reports ("Chart Organizer") and dashboard design
- Integration with financial institutions for real-time updates to bank registers and purchase card activity
- Media storage - this product allows for attachments at every level, so that documentation for every journal entry, deposit, invoice, vendor, and payment is immediately at hand, which has revolutionized the annual audit process for me, and particularly for remote audits post-COVID.
- Drop the "database view" and provide all functionality within the "web view" of the product. It's annoying to have to jump back and forth to take care of certain tasks.
- Add the ability to search by transaction amount.
- In a payment distribution where amounts are split between Projects sometimes, the system changes the distribution when posting to a percentage-based split rather than the specific amounts I entered, causing the splits to be off by cents. This can go unnoticed until individual Projects are found to be slightly out of balance, forcing otherwise unnecessary journal entries.
- Dashboard data is not refreshed often enough.
June 14, 2023
Grant specific tracking
Blackbaud Financial Edge NXT manages all our grant tracking needs for AR,AP, and Financial Budgets. It tracks expenses for each project so we can compare and report on each grant and category separately. Along with Budget to actual monthly reports. Blackbaud Financial Edge NXT is the best tool I have used in the 32 years of my career, most of which has been non-profit accounting. It is very easy to learn and understand in the web view. They are making enhancements to the web view often.
- Separate project accounting
- Easily reclass expenses by Invoice
- Reporting is easy to understand
- Journal entries can be copied and edited
- Accounts Receivable is not the most user friendly module
- Some feature to consolidate Project FS, and have each in a column for reporting
- I wish AP entries were updated in real time, not just when you validate and post
Blackbaud Financial Edge NXT is used to maintain all accounting records for the school.
- Provides 2 interfaces: Web view and database view
- Database view allows for more functionality
- In my experience, implementation process was a complete nightmare
- In my opinion, customer support is severely lacking. In my experience, it is extremely difficult getting support to understand issues, and when help is provided users are referred to "go read an article" for the solution
- In my experience, the system is NOT flexible and cannot be easily adapted to unique circumstances
June 14, 2023
A fundraising friend
Blackbaud Financial Edge NXT is a great one for the organization that who has grant and project (compare to QB). It's more easy to create your budget. I like their database also.
- Grants setting
- projects setting
- database
- It's slow when I do some edit.
June 14, 2023
Your Only Accounting Solution - FENEXT
Blackbaud is user friendly, works in conjunction with other products we use in our school.
- Reporting
- Dashboard
- Budget Creation
- Expense Management
- Accounts Payable process.
- HR component
June 14, 2023
City Light Blackbaud Review
FENXT is our full accounting platform for payables, receivables, expense management, asset management and GL accounting.
- Fund accounting
- Great user interface
- Extensive knowledge center
- Cannot parse CC expenses on Amex feed by card user
- Ability to attach statements to bank accounts
- Reconciliation of credit card accounts
- Easier integration for ACH and EFTs
- Easier integration for Positive Pay
- Easier user interface for report creation
June 07, 2023
Blackbaud Financial Edge NXT
I use Blackbaud Financial Edge NXT for all things Accounts Payables, including invoices, purchase orders, and credit card expense reporting. I also use it for end-of-year 1099 reporting.
- Import uploads
- Vendor management
- Processing invoices
- Would like to enter credits directly into Purchase Orders
- For purchase orders, would like to be able to Receipt All for a specific date, not today's date
- Would like to use short cuts such as Ctrl + E in web-based Financial Edge, not just database
June 07, 2023
My point of view
We currently use Blackbaud Financial Edge NXT to process all of our daily transactions. I personally use the system on a daily basis to process the accounts payable side of our finance department. NXT allows all users within the finance team to collaborate on the financial status of our company.
- User friendly
- Useful reports
- When pulling up a vendor, I would like a popup to alert for special information.
- I do not like that we can no longer post from the dataview side.
I enter new vendors and invoices for payments. I process payments thru Batch Report. I review account balances and invoices. I run Reports and Queries.
I work in all aspects of Accounts Payable.
I work in all aspects of Accounts Payable.
- It is very customizable to our needs
- It lets you run reports through Invoices
- works well for a team
- Runs great Queries in Database
- I'd like to be able to add (+) in the amount fields
- I think the Batch Payment File could be improved to upload without making adjustments
- Better Drill down and more info on Vendor records
May 20, 2023
NXT - Love the reporting features!
To run reports to confirm account balances/in the preparation of account reconciliations.
- Navigation
- Formal reporting
- Data reporting
- Make JE prep more similar to the database where is it much more user friendly
May 20, 2023
Excellent Product
The only problem I have is that customer service takes a long time to resolve our issues. This is a new problem post-COVID.
- Reporting
- Training
- Grant Management
- Banking Links
- Accounts Recievable
- Customer Service - resolving issues
May 20, 2023
Still Needs Work
Staff and I use it mostly for general ledger and project reporting. We prefer to use the Database View (Citrix) because that is what we learned and are experienced with. A big problem for us is that NXT does not support Accounts Receivable which is a very important part of our business. Blackbaud has announced that they will take away our Database View at some time in the future, so I have been trying to use NXT more in order to learn it. In doing this, I've learned that some basic bank account functionality is not available on NXT--things like pre-reconciliation reports. The Database View has to be used for this ability. I prefer the general ledger and project reporting over Database View. It just seems easier to build and process the reports and their outputs.
- Reporting
- Ability to add attachments to some records
- Functionality for Accounts Receivable
- Full reporting for bank reconciliations
It's not as user-friendly as the database version. I use it for reporting, but it seems to take longer to process the reports than the database version does.
- Reporting format in Excel
- Finding reports in search box is nice
- Add everything from the database view to NXT
- Exporting Reports should be one click and quicker
- Automated Bank rec/imports
May 17, 2023
A product that addresses accounting needs well.
With the cloud-based General Ledger and Accounts Payable modules, I am able to process payments and record journal entries while working remotely. The modules are user-friendly. Also, the Blackbaud support team is pretty responsive.
- Cloud-based.
- General Ledger module.
- AP module.
- When exporting reports into Excel format, I quite often run into errors that I have to try restarting the program from time to time.
- When generating a pop-out error message, please try to make the message clear to users with a description of suggested solutions.
We use Financial Edge NXT as our financial software for our not-for-profit Foundation. We primarily use FE-NXT and supplement with Blackbaud database view software where NXT is still lacking. Overall I prefer NXT but some tasks are only possible in the database software. Both versions update the same database. We use Financial Edge for General Ledger, Financial Reporting and Accounts Payable. Our organization has nearly 500 funds, Financial Edge manages fund accounting well.
- Fund Accounting
- Payables
- Cloud-based
- Cash flow reporting
- NXT still lacking some features
May 17, 2023
CFO Review
We use NXT for all accounting functions. This includes budgeting, reconciliations, AP processing, General Ledger, and creating custom reports for auditors, tax professionals and charitable solicitation registrations. We use the product on a daily basis and rarely run into problems. When problems occur, Blackbaud's support team is quick to address the problems and minimize our downtime. We also use the Raiser's Edge product and enjoy how it seamlessly integrates into Financial Edge NXT.
- General Ledger Reports
- Trial Balance
- Checking account integration
- Ease of access
- Speed when running complex reports
- Speed when editing multiple lines of a budget
- Import budget directly into NXT instead of through the database
I have been an FE user for 16 years, the last 4 years with FE NXT. FE NXT has facilitated some reports, some screens are more friendly, but curious enough, there are things we have to do in database because they can't be done in NXT, like AP posting periods for example. Half of our users prefer to work in NXT, half prefer database.
- Reports
- Finding journal entries by partial name
- Finding account numbers by partial number or description
- Attachments to JE and AP
- AP posting by period
- Journal Entry edit (ROWS)
- Security set up sometimes is difficult in NXT
May 17, 2023
Blackbaud--the bible with a little "b"
Blackbaud Financial Edge is our General Ledger and, as such, it is where we record every transaction and from where we generate all reports.
- Reporting
- Accepts several scenaria: actual, budget, forecasts
- Provides financial information on each and every endowed donor fund
- When doing a vendor search, the spelling, capitalization and punctuation have to be exact or FE thinks the vendor does not exist.
- FE does not allow the GL code to be printed on the check stub. Sure would be helpful if it did.
- I would like to see the notes we are allowed to enter into the system (i.e. reason for changing a forecasted number) be retrievable in a report.
May 17, 2023
FE NXT - Why Didn't I Switch Sooner???
I use Blackbaud Financial Edge NXT in the daily financial operations of my organization. It's the primary software that our organization uses for expense management, cash management, budgeting, fixed asset management, cost allocations, and electronic record storage. I used Blackbaud's Fundware until that product was no longer supported. Once I made the switch to FE NXT, I realized that I should have switched sooner. The software is very user-friendly and easy to learn. In particular, I love the reporting functionality. I can create and style my own reports to match individualized needs within the organization. Currently, I'm working on launching the Expense Management module, which will allow for the electronic workflow of invoices and expense reimbursements from staff to supervisor to the accounting department. I am also working on linking our company credit cards so that FE NXT will pull in a feed of all transactions. This will eliminate the manual entry of hundreds of transactions annually. Overall, I really love FE NXT!
- Reporting - users can create and design their own reports
- Budgeting - annual budgets can be entered, allowing for great budget-to-actual reports throughout the year. Budgets can also be easily adjusted as the year progresses
- Media - FE NXT allows for media attachments. This is a great place to electronically store copies of invoices, 1099s, W9s, contracts, correspondence, etc.
- Credit Card Feed - the credit card feed would not link to the local bank that our credits cards were from; we switched to a national bank, however, and hopefully the issue will be eliminated!
We use Blackbaud FE NXT to track non-profit revenue and expenses, as well as manage some of our clients' monies. The products we purchased help mainly with accounts payable and accounts receivable. We also have recently added fixed asset management, however it can be a very daunting process to get started.
- Accounts Payable
- Fixed Asset
- Merchant Services
- Admin access could be made more user friendly
- Improving the process time between adding new records (A/P, JEs, etc.)
- Customer service
May 17, 2023
My Review
Financial users within the Foundation use for AP, and GL. Reporting to them is relatively easy. Struggle with providing standard reporting to non-financial users throughout the school that we support. Also still struggle with a very manual AP process. Do not have an expense management module.
- Ability to drill down to detail
- Ease of navigation
- Reporting on attributes is difficult
- Not having detail in GL until the AP/AR is posted, even though JEs are available when entered, pre-posting
We use Blackbaud Financial Management NXT for Accounts Receivable, Accounts Payable, Fixed Assets, Cash Receipts and General Ledger. We have an integration with Financial Edge and Raisers Edge. With this implementation, the Business Office no longer needs to manually enter gifts/donations/pledges into the General Ledger via journal entries.
- RE/FE Integration
- Project ID's associated with G/L account numbers
- Refresh bank feeds
- Customer service needs improvement. Support tends to not be very helpful.
May 17, 2023
Financial Edge NXT Review
We use Financial Edge for General Accounting, Endowment Management, Accounts Payable, Accounts Receivable, Expense Management, Treasury and Fixed Assets. It was everything we need to run our organization.
- Expense Management is very useful
- Accounts Payable is done without problems
- Bank Reconciliations are done without problems
- Tech support is not responsive all the time or reads from the same Knowledge base we have access to
- Pricing is a challenge every year and do not give enough time to question new charges
- Some functionality is missing for Reporting. Variable dates and batches are not available in NXT
We are currently using Financial Edge NXT as our primary cloud-based corporate accounting system.
- Very clean, simple interface
- Remote access is fairly reliable
- Easy to use
- Accounts Receivable module has yet to be released to users. As such, the solution is still somewhat incomplete.