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Blackbaud Financial Edge NXT

Blackbaud Financial Edge NXT

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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Recent Reviews

Very nice!

8 out of 10
November 30, 2023
Incentivized
We use it for groups that come in into our facility and individuals. There are no problems so far as we have been using it for almost a …
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Awards

Products that are considered exceptional by their customers based on a variety of criteria win TrustRadius awards. Learn more about the types of TrustRadius awards to make the best purchase decision. More about TrustRadius Awards

Reviewer Pros & Cons

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Pricing

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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.

Entry-level set up fee?

  • Setup fee required
For the latest information on pricing, visithttps://www.blackbaud.com/products/blac…

Offerings

  • Free Trial
  • Free/Freemium Version
  • Premium Consulting/Integration Services

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Product Details

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

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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

Blackbaud Financial Edge NXT Competitors

Blackbaud Financial Edge NXT Technical Details

Deployment TypesSoftware as a Service (SaaS), Cloud, or Web-Based
Operating SystemsUnspecified
Mobile ApplicationApple iOS, Android, Mobile Web
Supported CountriesUnited States, Canada
Supported LanguagesEnglish

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 7.9.

The most common users of Blackbaud Financial Edge NXT are from Mid-sized Companies (51-1,000 employees).
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Comparisons

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Reviews and Ratings

(270)

Attribute Ratings

Reviews

(1-25 of 137)
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Quoc Vo | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Blackbaud Financial Edge NXT is great for an independent/private school. It integrates well with enrollment and student information systems sold by Blackbaud. For example, you could send data from the student information system straight into the Blackbaud Financial Edge NXT. The caveat of course is that you would need to be using other Blackbaud products to leverage this integration. However, all Blackbaud products utilize open APIs so with a little programming, one can share data across many systems.
Pam Holden, MBA | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
System is extremely easy to use and the screens are set up logically, making the transition from another system relatively seamless. The reporting tools are very easy to use, making customization simple. Having said this, the standard reports are outstanding and cover almost anything you might need. Add great support services and knowledgeable Team members across all of the products, and you have a winning combination, making it easy to recommend.
Geri Meyer | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
It is well suited for mid to large sized organizations that want to invest in an infrastructure that will lead them forward into the future. Blackbaud Financial Edge NXT offers real time reporting to enable data driven outcomes. The cloud based system allows for access anywhere at anytime. With constant updates and new features being added, Blackbaud strives to deliver the best product to their customers.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Great for GL functions such as easy creation of JE, include attachments and versatile reporting The organization of reports into various categories are not as nicely display like in database view. Looks rather messy and disorganized. JE does not allow insertion of new lines at specific locations but rather at the end of JE. Also does not have copy function.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
This software is very remote worker friendly! If you need software out-of-the box, this may not be it. There is a learning curve and some set-up required, but once up and running this software is robust and is fully customizable to all sizes of non-profit organizations. And technical support is readily available and responsive!

I would not recommend this software in for-profit industries.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Wonderful for general financial reporting, fixed assets and account payable. Setting up security is tricky. Purchase requisition process does not fit all situations. Should have more flexibility with appearance of income statement.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Fund accounting works well through Blackbaud Financial Edge NXT. We have 3 funds and are able to keep gift accounts in fund 2 separate by project. This allows us to track investments on the account level and report out to users easily.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
My major concern before going with a web-based Financial System was the fact that we are located 12 miles from the closest town and I was afraid that our internet would fail me, but so far we have had reliable internet.
Blackbaud Financial Edge NXT has as much or as less for a company to choose from. The cost associated with it could be prohibitive to some smaller companies. We are a 501c3 and as costs keep rising, there is a need to watch spending. But as I am often reminded, "Accounting is a necessary evil and the better equipped I am the better the company will be.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
i wish it was more flexible for things, reporting, naming conventions. when uploading journal entries, we have to use the app, i would think that would be part of the product, instead of having to go outside FE to get the batch upload product.

we are a non-profit and we do use the project and location areas, but the naming convention is sometimes confusing on what is used for what (project, or t-code)
Score 8 out of 10
Vetted Review
Verified User
Incentivized
I would recommend Blackbaud Financial Edge NXT to any nonprofit and actually a lot of for profit organizations. I could see it being good for higher education obviously. I would not recommend Blackbaud Financial Edge NXT to smaller organizations or those that do not understand GAAP really well because some of the system settings take a good understanding of GAAP and accounting to work around.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
I would absolutely recommend this system to anyone looking for a financial system. The accessibility, the ease of use, and the depth of the system is widely useful for any purpose. Being able to accurately record deposits and payments as well as the ease in returning to any deposit or payment later is incredibly helpful when auditing. To be able to go back into a payment find where it was applied in Blackbaud Financial Edge NXT and then also have the ability to upload the bank statement for secure documentation is certainly a helpful feature to any organization. I would recommend it because the system is incredibly user-friendly and offers the ability to grow your knowledge of financial management through courses. If the organization did not have a large profit, then I would recommend building the business so that the many applications and benefits that Blackbaud Financial Edge NXT has to offer would then be more applicable to the business. Blackbaud Financial Edge NXT would still be incredibly beneficial to a small business, but the range of opportunities and benefits that it offers is very well suited for larger organizations.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
FENXT is very well-suited for organizations with complex or extensive financial structures. While the system was originally designed for organizations with accounting departments, my org has one person in Finance and this system is still very appropriate. If your finances are easily handled by QuickBooks and your auditor does not need information your QuickBooks can't provide, you don't need FENXT. However, if you've outgrown the limited nonprofit capabilities of QB, FENXT is the right choice because of its flexibility and customizability.
Score 7 out of 10
Vetted Review
Verified User
Incentivized
Suited for $12M+ organizations with matrixed organizations with multiple departments. It would be good for companies who have extensive restricted funds as well as those who use other BLackbaud products like Raisers Edge.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Blackbaud Financial Edge NXT is well suited for our organization involved in investment income and grantmaking. I have also used this system with a non-profit school and found it to be very useful. There are many functions that are able to add as needed to Blackbaud Financial Edge NXT which has also been very helpful.
Score 2 out of 10
Vetted Review
Verified User
Incentivized
We've had so many problems with the implementation and then with Expense management and getting training it is really hard for me to recommend Blackbaud Financial Edge NXT (FE) to anyone. We were told that training and implementation were by "project" yet when we did not implement or use something that we paid for we were not given a refund, but conversely, when we used our allotted "hours" devoted to a project we were cut off from training and support. After MANY emails and conversations, this was remedied to a point but it has left such a sour taste that I am very down on BlackBaud (BB).
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Blackbaud FENXT is well suited for a mid-sized independent school that has a small Business Office staff that is currently on Quickbooks.
I recall FENXT being more expensive than other software out there, but the efficiencies gained make up for the cost differentiation.
You just need to know going in that you may need a consultant to assist you with the implementation to ensure that your system is set up properly. And, reach out to a local users group to learn best practices and tips...
Score 8 out of 10
Vetted Review
Verified User
Incentivized
It's very well suited for managing Accounts Payable and Accounts Receivable. It also does a great job on the accounting end, but some functionalities could be improved (see previous question). It would be great if there was more cohesion between web view and database view, as the functionality in web view is better and looks better, but I still find numerous things I have to use database view for; it'd be great not to have to jump back and forth.
Score 6 out of 10
Vetted Review
Verified User
Incentivized
I think it's well suited for most accounting type of work, however very unsuited and lacking to help manage grants. So I would not recommend to any friend or company that works heavily with grants.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Although I am new to FENXT I have found it very easy to use as far as accounts payable goes. I need to learn more about reporting as I have a hard time finding the right report that I am looking for.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Blackbaud simplifies the accounting entry process by providing easy-to-use software. The click-and-drag feature of adding supporting documentation to journal entries is a plus. No more printing and scanning into the software. I don't know of a less appropriate scenario.
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