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April 22, 2020
Financial Edge NXT is a full-featured business accounting system built for nonprofits. We use it for all of our finance-related tracking, including employee reimbursement, payroll, AR/AP, expense tracking, credit card management, all of our reporting, etc.
- Fully customized, multi-layered account number setup, so that every line represents exactly what you want to track.
- Ledger-based so you have total control over every transaction.
- Web-based user interface is very user-friendly and intuitive.
- Excellent customer service and training resources.
- It's a big, complex system. There are many moving parts, and as a result, sometimes it's hard to figure where you went wrong when something doesn't look like it should.
- There is a learning curve before you will feel fully comfortable. I feel as though I am still learning after two years using the system.
March 04, 2020
Accounting department
- Traditional reporting
- Expense Management
- Accounts Payable
- Dashboard
- Forward-looking reports
- Refresh rates
December 24, 2018
Financial Edge NXT is used mostly by our foundation staff. We use it as our main accounting software. We use Raisers Edge for recording contributions and then integrate them with Financial Edge. This process is very easy as long as all your accounts are set up correctly. We would like to soon make Financial Edge NXT available for all of our advancement staff and some of our project directors. The challenge in this is being able to easily limit access to only the individual’s projects.
- I love the copy invoice feature. This makes for quicker entry of our invoices.
- The drill-down feature is also a plus when searching for a particular item.
- Being able to export tables quickly is a timesaver.
- At this time it doesn’t distribute negative entries to the correct project when there are multiple projects. This becomes a problem when you are trying to use a credit for one project but expenses invoice to a different project.
- The edit feature for imported journal entries is more difficult than in Financial Edge.
- The timeout feature logs you out too quickly.
I work for a Foundation at a college and our whole department uses FENXT. We use it for all of our accounting needs other than Purchase Order management. We use it in conjunction with Raiser's Edge to keep track of all incoming and outgoing money and also to manage the active funds our organization has.
- I love how well FE interacts with Raiser's Edge. This makes it much easier for our organization to stay current and increases our level of trust in the information we are seeing in both systems.
- The reporting features in FE make it easy to pull accurate information in a timely manner.
- I would like to see the price reduced. I work for a medium-sized non-profit and if the price keeps rising, I worry we will no longer be able to use FE. It is an incredible system to use, but if the price keeps rising, it will be difficult for small to medium-sized organizations to justify the cost.
- I would like to see error messages that contain more information. When our accountant runs the process to post gifts from Raiser's Edge, she typically is not able to easily understand the reason for the gift exceptions. It then requires me doing research in RE to find out what the error may have been from.
May 21, 2018
We have been using Blackbaud products for over 20 years and last fall we made the choice to upgrade to the cloud version for the entire school products. Upgrading to Financial Edge NXT was not the driver---the student information system was the driver---but we are reaping many benefits from the NXT environment. Since using Financial Edge NXT, we rarely utilize the database version as the majority of day-to-day activities can now be done in NXT.
The benefits it has provided have been faster access to the system and more efficiency in our business office. We can get things done more quickly with the NXT version.
The benefits it has provided have been faster access to the system and more efficiency in our business office. We can get things done more quickly with the NXT version.
- 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
- Right now budgeting functions are only available for look ups, not for budget creation or editing
FENXT is being used by myself and other users across the organization in place of the traditional database view to the extent that the functionality is available in NXT. It is used for vendor and payment lookup, account activity lookup, payment posting and processing. One item missing is full functionality of the purchase order module. As soon as it works, I will use NXT to issue POs. It is a very user-friendly version of FE. Much easier to train staff to use and recover the information they are looking for. It is menu driven and intuitive.
- Vendor activity look up
- Output of reports to Excel
- Fund register activity
- Ability to export queries to Excel
- Better integration with PaperSave
- Export all activity to Excel
- Purchase Orders
April 05, 2018
Financial Edge is being used by all employees in the Business Office. Department heads have view-only access to look at their budget reports. The view-only access is better than the reports we sent them because they have the ability to drill into transactions from the report.
- Customizable, attractive reports
- Bank Feeds
- Generate multiple reports simultaneously
- Journal entries are better in database view
- Unable to create queries in NXT
FE NXT is being used by our accounting department as we try to migrate off of the client-server version to a SaaS environment. [It's being used by the] accounting department and some in IT with dashboards. NXT helps us eliminate using a Citrix environment for some of the FE use.
- Dashboards are easy to create and look professional.
- Learning curve from the client-server version of Financial Edge was minimal.
- Missing functionality, needs missing modules from the client server version or the DB view.
- Ability to edit users within NXT.
We are a private school and use Financial Edge NXT for our daily accounting/finance operations. Very self-explanatory and easy to use.
- Adding a new invoice is fairly simple.
- Easy to add new vendors in the system.
- A variety of reportings available.
- Hope they quickly change to the web view faster, so we don't have to switch between web and database view.
Once implemented, it will be used organization-wide. We attempted to convert to Financial Edge NXT a year ago... unfortunately, we still have not converted even though we are paying for NXT. There were issues between host sites... Orange County moving to Boston... I was told that we could test NXT in the hosted environment prior to converting. Once our data was uploaded, I was then told that we could only test in FE on the cloud... not NXT until our live convert. In testing with FE, we found there is a huge lag in processing time as opposed to having the data processing locally. Because it had taken so long I was facing an audit and did not want to have to manage a software conversion during an audit... The final audit report just came back so now we can proceed to convert to NXT... Our development office went live on RENXT in July and find that the processing time is also painfully slow...
- n/a - have had trouble with conversion
- n/a - have had trouble with conversion
- n/a - have had trouble with conversion
- eliminate processing delays. Per our IT dept, the issue is not on our side.
- better follow up by implementation.... WE ARE STILL NOT IMPLEMENTED!
- renewal team wasn't aware of switchover and received billings for NON NXT renewals... took a long time to get resolved.
We use Financial Edge NXT for high level review of transactions and attachment of accounts payable invoices. It is more efficient than the database version as far as drilling down and finding transactions. We only use the General Ledge and Accounts Payable currently.
- Like I said, the ease of getting around and drilling down for information is the best feature for us.
- It is great to have attached accounts payable invoices instead of having to search through an organization of folders to find an invoice copy.
- The hidden benefit is always being up to date on versions. We don't have to get emails notifying us of updates, forwarding those to IT and asking them to have our hosting company apply patches. Then we would wait and have the system down off hours before updates were applied. That's all gone now.
- We have to rely on the database version for Accounts Receivable.
- I'me not real sure about all the features. I know what I've got in the database view and so I live there. I would like to get into general ledger reporting and queues but the one time I tried, I couldn't get where I wanted to go so I gave up easily.
- We've had a couple of issues that came up for some reason because of what we use that apparently nobody else does, like having the many bank accounts we use show up in a drop-down menu. The software engineers have been good to fix those things, but it makes me feel like we are continually using a beta version of the software. It feels like Blackbaud is trying to get up to speed at their own pace and at the expense of users experimentation.
FENXT is being used as our Financial System, including Accounts Payable, Budget, and Payroll.
- I honestly can't think of one thing FENXT does really well.
- Since FE NXT is in the "cloud" it has been a really difficult transition as our company has some special needs that we finally got ironed out in FE, but then started the transition to NXT and now those special needs can not be met by NXT.
- Just logging in takes three more steps. Frequently the program logs out and we have to log back in.
- Payroll is more difficult than AP. AP is fairly smooth, but payroll is just now starting to go a bit smoother, but we heard there would not be anymore enhancements to the payroll module in the future, so our concerns will most likely not be met in the future. It's up to the clerk to figure out how to meet the needs of the employees.
We currently use Financial Edge across our organization. We currently serve four entities (3 schools and our network), therefore, we run/track individual transactions and reports - but also run consolidated reports. FE addresses all of our finance and accounting with the exception of payroll and student billing.
- Because we run four separate entities, FE allows us to allocate transactions to each of the entities. This allows the ability to look at each entity separately as well as look at the organization at a consolidated level.
- FE tracks interfund entries well.
- There are some nuances in FE that can stand to be improved upon - nothing that will discourage me from using FE, just things that would make it easier to navigate through the system. For example, navigating between modules could be improved upon. Having the ability to navigate through the system while reports are running should be an option.
We are using FE NXT in our philanthropy department. It addresses the problem of our finance department not tracking project balances and expenditures.
- Reporting
- Reconciliation
- Ability to track at package level from RE
October 17, 2017
Financial Edge NXT is a cloud-based software that supports the general ledger accounting and reporting needs globally for our organization. It is user-friendly in the form of being accessible to users anywhere via multiple platforms. Prior to being cloud-based, this was not a possibility.
- Flexible cloud-based reporting.
- Instant access to records
- User-friendly with a modern feel for new hires.
- Extend functionality of desktop version to web version
- Designated support contact upon implementation/conversion to NXT
- Cost of product is greater than competitors
January 16, 2018
We decided to go from FE & RE to the new NXT products for several reasons. Development officers can now access it remotely; we can log in from anywhere, we can have campus-wide reporting made available without the need to change each computer, reporting has more flexibility and auto bank reconciliation to name a few.
We are new to NXT but have used Blackbaud for several years in our organization.
We are new to NXT but have used Blackbaud for several years in our organization.
- Remote access is easy to use and so convenient. Development members can access funds and provide the most up to date information to the constituents.
- Access to project reports by our fund directors campus wide is something that we are working on implementing right now since the use of reporting is so accessible.
- The bank reconciliation module is a time saver.
- Logging into the data base view could be streamlined for faster login.
- Create a system that would allow groups of invitations for FE NXT all at once. We have FE NXT view only for our fund directors and development officers across campus and the need to invite each one individually and not have the ability to set them up at the same time is very time consuming and inefficient. Our fund directors change frequently so this is definitely something that I would be interested in seeing an update completed.
Financial Edge NXT is used to track all of our finances. It's used across the whole organization.
- Allows for budget tracking and analysis
- Good data pulls
- Allows for maintaining client records and printing cheques electronically
- It's quite expensive.
- At times it can be restrictive in terms of ability for pulling reports
We are making the migration from our accounting system first implemented in the 1990s. We started as a Smart Tuition customer, who they purchased over a year ago. We have implemented Raiser's Edge NXT and Financial Edge NXT. We are already experiencing better automation and have been able to go paperless with our accounts payables.
- The NXT interface is very easy to use. Can't wait for more features/functionality from the move from database view FE.
- Links between Smart Tuition and Raiser's Edge help the "whole" process.
- Training and Knowledgebase really help when you have questions.
- Need more functions that are currently only in FE database view.
- Can't wait to see the bank reconciliations with automated feeds with the banks.
- Looking forward also to the new credit cards module going on line.
September 08, 2017
Our staff uses NXT on a constant basis to keep up to date on the budget vs. actuals. No more waiting for monthly reports!
- Versatility to be used on any device anywhere
- Sleek design that's easy on the eyes
- Robust enough to view summary information as well as drill down to details
- Needs a bit more performance in speed to load information
We use it only in the business office. We had planned to use it to keep track of our accounting needs on a daily basis. Which would include reporting, accounts payable, accounts receivable, student billing, etc I can't answer the question of What business problems does it address.
- It is a web-based program that can be accessed from any computer.
- The accounts payable tab......Why is the vendor info not have the option to enter invoices. It makes it very difficult to make changes when I have to refer back to a vendor.
- I have found that creating deposits are not as easy, too. I can't even find my "client" to enter my info, its all done individually like the AP tab. It makes it very hard to go back to refer to a specific deposit when it is not grouped by my clients.
- I have decided, after many days of frustration, trying to figure out NXT, that as long as the Blackbaud hosting services are available, I will continue to use that, so I feel that our costs to upgrade was a poor choice, but that is my personal opinion due the fact that I use this system on a daily basis.
July 10, 2017
Currently Financial Edge (FE) NXT is being used exclusively by the finance department, but the plan is to roll-out departmental access to selected information. The plan is to allow department managers direct access to their current budget, expenses, etc., thus eliminating monthly reports and improving day-to-day financial planning. However, we are still in the implementation phases, and most of our staff are heavy users and are waiting for more functionality before they will make the switch.
- The user interface is much easier to work with. It may seem like a little thing, but the changes to font, colours, and screen organization make the system much more approachable.
- When entering journal entries, the newest items added are at the top of the page.
- The knowledge base access is much more visible - people are more likely to use it!
- When entering transactions in a journal, you can't just tab after the last field and have the next line appear; you have to click a button.
We are using it through out the organization, but mainly accounting. All of the other departments uses it for entering their travel and creating requisitions for purchase orders. The CFO uses it for all of the financial reporting for the organization. I am new to using Blackbaud and still learning the system.
- Having the ability to create reports quickly.
- To void checks and the system creates your adjusting entries for you.
- Having the ability to review your accounts payable processing before printing your checks.
- The various links to get in touch with someone at Blackbaud is an excellent tool.
- The PO system. It would be great if there would be a section where you can breakdown various items from various departments, when you are placing your order into the system.
- Credit memos- once a check is voided and a credit memo is attached, how to remove it if there is several.
- Issues with the addresses once it has changed in the vendor file.
- When you are adding a vendor, "Lisa Fowler" the system would list her under the "L". So if I wanted to pull her up on the system. Normally it should be under "F" because of her last name but it would listed under the "L".
Financial Edge NXT is only being used by the Finance & Operations team. We use it as our accounts payable system & our general accounting system.
- I love the sidebar feature for accounts payable that allows you to see much of the details of the transaction without requiring you to open the full record.
- Being able to run a report straight to Excel is very useful & easy.
- It is nice to be able to search for vendors more easily than one could in Financial Edge 7.
- The journal entries are cumbersome to use. The view is "backward" from what I'm used to, with the most recent lines entered showing at the top of the entry.
- It is hard to review journal entries in the NXT view because only some of the lines (>5) show in each screen & then you have to click to get to the next set of 5 lines, etc. I often revert to the database view so that I can see the entire entry in one screen.
- There are no journal entry line numbers in the NXT view. This makes it difficult to find a specific line item & if you search for just that line you can't see the other side of the transaction. Again, I revert to the database view for most JE review & revision.
- The most useful & complex reports, such as the Statement of Functional Expenses, are not available in the NXT view.
January 18, 2017
Financial Edge NXT is being used by our accounting team for data entry, oversight, and reporting. We upgraded to NXT for both Financial Edge and Raiser's Edge to allow for easier access and reporting.
- The reporting exports in the NXT view are much cleaner than the database view.
- Accounts payable entry is very user-friendly.
- The feature that is coming soon to link bank accounts and credit cards for easier reconciliation is very exciting.
- Cannot set up or modify VCOs on the NXT side yet.
- We use the allocation module as an add-on and this has yet to be done in the database view.
- I would love to be able to import into the journal entry area.
January 09, 2017
Financial Edge is currently being used by our business office and it provides a clear, comprehensive solution for our entire accounting office. The ability to track the general ledger and giving from the advancement office in one system provides a seamless flow of information from one system to the other.
- Single System
- Intuitive
- Ease of use
- Stronger Dashboard
- Link to RE NXT
- Stronger note pad
Financial Edge NXT Scorecard Summary
Feature Scorecard Summary
What is 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, banking, and more.
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.
Financial Edge NXT Screenshots
Financial Edge NXT Videos (4)
Financial Edge NXT Downloadables
Financial Edge NXT Integrations
PaperSave, BizNet Software, Advanced Budget Management, Paramount Workplace, Infor F9, Avid Exchage
Financial Edge NXT Competitors
Sage Intacct, Abila, Microsoft
Financial Edge NXT Pricing
- Does not have featureFree Trial Available?No
- Does not have featureFree or Freemium Version Available?No
- Has featurePremium Consulting/Integration Services Available?Yes
- Entry-level set up fee?Required
Financial Edge NXT Support Options
| Paid Version | |
|---|---|
| Phone | |
| Live Chat | |
| Forum/Community | |
| FAQ/Knowledgebase | |
| Social Media | |
| Video Tutorials / Webinar |
Financial Edge NXT Technical Details
| Deployment Types: | SaaS |
|---|---|
| Operating Systems: | Unspecified |
| Mobile Application: | Apple iOS, Android, Mobile Web |
| Supported Countries: | United States, Canada |
| Supported Languages: | English |