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Financial Edge, Use It!Financial edge is used as the financial, accounting software for my organization. It is also used for subsidiary corporations. We are able to track debits and credits, provide balances for departments across the university campus, examine budgeting scenarios and reporting. We utilize a number of candid reports but also have built a number of custom reports.,Financial edge is able to be customized in a way that fits our organization. Financial edge is able to provide reports to our end-users on budget versus actual account balances. Financial edge is able to handle a large volume of transactions with ease, having built-in capabilities for batching and balancing.,While the program is highly customizable, it would be helpful if there was more direction on best practices of how to set everything up. Expand on reporting. Ability to report on "open" years.,8,We have been able to more effectively track utilization of budgets Scholarship management has more than tripled over a five year period,QuickBooks Enterprise Solutions,The Raisers Edge, Raiser's Edge NXT, Target AnalyticsFinancial Edge Spoiled MeFinancial Edge is the premier nonprofit software I have worked with. It allows for deep segmenting and analysis of expenses as well as grant management. If an organization has two or more grants, I highly recommend Financial Edge to them. One of the better features is dashboards that allow department or team managers to quickly review their budgets and expenses at a glance without burdening the accounting team.,Grant Management - nothing is more harrowing than grant reporting, and FE does it best. It allows for layered budgets and limitless division of expenses among grants, overhead, or other projects/programs. Reporting - Most financial software tries to adapt for-profit accounting into a non-profit mode without addressing the unique needs of a nonprofit for reporting and auditing. Multiple projects and/or cost centers within a budget and system - nothing is more challenging than trying to manage expenses over several cost centers and FE is a champ at allowing that complexity.,Not for "out of the box" users - Financial Edge is a great system, but implementation requires support or even an consultant. You want to make sure you have set it up correctly - not duplicating what you have always done, but in a way that makes the robust reporting in FE work for you. Better exported reports - Reports exported to Excel always seem to have too many lines and columns as well as at least one column that is off one cell to the right. Not a huge issue, but it takes a little time to reformat.,9,Like any enterprise software, there are costs/investments ahead of return. It isn't something you would implement without support. During the significant financial downturn, we were able to use FE to forecast trends and make budget adjustments easily. It transformed communication about forecasting and cuts with assurance.,QuickBooks Pro,The Raisers Edge, Blackbaud CRM, Blackbaud NetCommunity, Salesforce for NonprofitsEasy as 123Financial Edge is used to create purchase orders, invoices, and process payments.,It is a quick and easy way to create purchase orders. It is easy to look up vendors and purchases that have been made through them.,I do not have any complaints about its functionality.,7,This was the software that was in place when I was was hired.,Andar/360, DocStar, Microsoft VisioFinancial Edge for Membership OrganizationsWe use Financial Edge in our business department to serve the accounting and finance needs of our organization. We utilize the General ledger, Accounts Payable, and Fixed Asset Modules. Since our organization has two entities, Financial Edge enables us to manage the finances of both business entities within one system and we are able to house reports and other information in one location. This makes it easy for us to retrieve information requested from our department and enables all users of the system to pull reports in the event someone is out of the office, making our processes more timely and efficient.,F-9 Reporting is a great tool. We are able to build custom financials for our Finance Committees and Board of Directors and choose how we want to present information to these parties. The AP Module is easy to use and has a "common sense" format. The ability to reference various dates/periods in one journal entry is awesome!,In the list view of Journal Entries, it would be great if we could see the post date in addition to the date added. Fixed Asset module is not set up for some unique scenarios (removing a previously "acquired asset" that was not necessarily disposed of, but place in FA in error). Reporting within the FE application is not so great, so F-9 saves the day with respect to reporting.,10,Financial Edge has enabled us to save time with respect to monthly reporting. Financial Edge has helped us streamline some larger entries that were once a pain to enter in Fundware. The F-9 plug allows us to report information in our desired format as opposed to using the reports within the FE application. Overall, I would say that Financial Edge definitely saves us time on closing each month which frees us up for other projects within our department.,fundware,The Raisers Edge, Raiser's Edge NXTFinancial Edge is great for simple companies!Financial Edge is being used by our Finance Department for all of the Financial needs. It hasn't really solved any business problems for our organization. However, It does the job of an accounting system.,Financial Edge does a great job at pulling up reports in the general ledger. Financial Edge is great if you have simple accounting needs. Financial Edge makes entering A/P fairly easy.,Financial Edge should not allow for there to have multiple invoices with the same invoice number Financial Edge should be more user-friendly when looking for information Financial Edge should allow more options for financial reporting,7,It saves time by making processes easy for A/P entry It gives many options for customizing reporting It doesn't have a user-friendly interface for simple GL reporting,,DPS Outlook Office, OnRamp, EMS Software
  3. Financial Edge Reviews
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Financial Edge
21 Ratings
Score 7.8 out of 101
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Financial Edge Reviews

Financial Edge
21 Ratings
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Score 7.8 out of 101
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Reviews (1-6 of 6)

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Stephanie Ulmer profile photo
December 21, 2018

User Review: "Financial Edge, Use It!"

Stephanie Ulmer
Score 8 out of 10
Vetted Review
Verified User
Review Source
Financial edge is used as the financial, accounting software for my organization. It is also used for subsidiary corporations. We are able to track debits and credits, provide balances for departments across the university campus, examine budgeting scenarios and reporting. We utilize a number of candid reports but also have built a number of custom reports.
  • Financial edge is able to be customized in a way that fits our organization.
  • Financial edge is able to provide reports to our end-users on budget versus actual account balances.
  • Financial edge is able to handle a large volume of transactions with ease, having built-in capabilities for batching and balancing.
  • While the program is highly customizable, it would be helpful if there was more direction on best practices of how to set everything up.
  • Expand on reporting.
  • Ability to report on "open" years.
Financial edge is great for tracking revenue and expenses for specific donor-designated gifts. It is easy to create projects for each designation that allows for tracking and reporting. I would like to see some expansion in reporting based on projects. We currently have built custom reports for reporting to our end-users and donors on project balances.
Read Stephanie Ulmer's full review
Wendy Johnson profile photo
November 29, 2018

User Review: "Financial Edge Spoiled Me"

Wendy Johnson
Score 9 out of 10
Vetted Review
Verified User
Review Source
Financial Edge is the premier nonprofit software I have worked with. It allows for deep segmenting and analysis of expenses as well as grant management. If an organization has two or more grants, I highly recommend Financial Edge to them. One of the better features is dashboards that allow department or team managers to quickly review their budgets and expenses at a glance without burdening the accounting team.
  • Grant Management - nothing is more harrowing than grant reporting, and FE does it best. It allows for layered budgets and limitless division of expenses among grants, overhead, or other projects/programs.
  • Reporting - Most financial software tries to adapt for-profit accounting into a non-profit mode without addressing the unique needs of a nonprofit for reporting and auditing.
  • Multiple projects and/or cost centers within a budget and system - nothing is more challenging than trying to manage expenses over several cost centers and FE is a champ at allowing that complexity.
  • Not for "out of the box" users - Financial Edge is a great system, but implementation requires support or even an consultant. You want to make sure you have set it up correctly - not duplicating what you have always done, but in a way that makes the robust reporting in FE work for you.
  • Better exported reports - Reports exported to Excel always seem to have too many lines and columns as well as at least one column that is off one cell to the right. Not a huge issue, but it takes a little time to reformat.
Financial Edge is ideal for the $1m to $10m budget organization. Those who are smaller or larger (or more complex) may want to consider another system.
Read Wendy Johnson's full review
No photo available
February 07, 2019

Financial Edge Review: "Easy as 123"

Verified User
Score 7 out of 10
Vetted Review
Verified User
Review Source
Financial Edge is used to create purchase orders, invoices, and process payments.
  • It is a quick and easy way to create purchase orders.
  • It is easy to look up vendors and purchases that have been made through them.
  • I do not have any complaints about its functionality.
It is easy to look up vendors to see how items are coded if they have been receipted. It is also easy to create new vendors and add in general ledger codes.
Read this authenticated review
Sunny Reed profile photo
October 25, 2017

Review: "Financial Edge for Membership Organizations"

Sunny Reed
Score 10 out of 10
Vetted Review
Verified User
Review Source
We use Financial Edge in our business department to serve the accounting and finance needs of our organization. We utilize the General ledger, Accounts Payable, and Fixed Asset Modules. Since our organization has two entities, Financial Edge enables us to manage the finances of both business entities within one system and we are able to house reports and other information in one location. This makes it easy for us to retrieve information requested from our department and enables all users of the system to pull reports in the event someone is out of the office, making our processes more timely and efficient.
  • F-9 Reporting is a great tool. We are able to build custom financials for our Finance Committees and Board of Directors and choose how we want to present information to these parties.
  • The AP Module is easy to use and has a "common sense" format.
  • The ability to reference various dates/periods in one journal entry is awesome!
  • In the list view of Journal Entries, it would be great if we could see the post date in addition to the date added.
  • Fixed Asset module is not set up for some unique scenarios (removing a previously "acquired asset" that was not necessarily disposed of, but place in FA in error).
  • Reporting within the FE application is not so great, so F-9 saves the day with respect to reporting.
We would like to eventually have an all-in-one solution for billing/AR. We are a membership organization and currently have to host an additional database for billing, then post those transactions to FE. For this reason, we do not feel Financial Edge is best-suited for our accounts receivable needs; as we still have to incur costs associated with hosting another database to do what we need to do. On-the-other-hand, Accounts Payable module works well for our business needs. We primarily process check payments and bank drafts and this module makes it easy to manage payments and correcting errors (i.e. deleting invoices or reprinting a check that did not print properly) is fairly simple.
Read Sunny Reed's full review
No photo available
April 12, 2018

Review: "Financial Edge is great for simple companies!"

Verified User
Score 7 out of 10
Vetted Review
Verified User
Review Source
Financial Edge is being used by our Finance Department for all of the Financial needs. It hasn't really solved any business problems for our organization. However, It does the job of an accounting system.
  • Financial Edge does a great job at pulling up reports in the general ledger.
  • Financial Edge is great if you have simple accounting needs.
  • Financial Edge makes entering A/P fairly easy.
  • Financial Edge should not allow for there to have multiple invoices with the same invoice number
  • Financial Edge should be more user-friendly when looking for information
  • Financial Edge should allow more options for financial reporting
Financial Edge is suitable for smaller companies who have easy accounting entries. However, it does not allow there to be room for making entries customization.
Read this authenticated review
Petra Hall profile photo
March 21, 2017

Financial Edge Review: "The Blackbaud help desk is worth it."

Petra Hall
Score 9 out of 10
Vetted Review
Verified User
Review Source
The modules that make up Financial Edge (General Ledger, Accounts Payable, and Student Billing) are used by finance. The Student Billing module is also used by the Registrar's Office.
  • Data entry - detailed, but straightforward.
  • Query - very powerful and easy to use.
  • Overall, the interface looks like something from the early 90s. Users tend to fight the interface until they get used to doing their particular tasks. However, once they know how to make it work in one area, the interface is very similar across the program.
Mostly I deal with student tuition tracking and reporting on donations imported from other products, such as the Blackbaud development software: The Raiser's Edge. Financial Edge is fairly good at tracking the complexities of fees and financial aid, but it can't email invoices to the parents and does not allow for payments to be processed automatically according to a payment plan.
Read Petra Hall's full review

Financial Edge Scorecard Summary

Likelihood to Recommend (21)
7.8

Feature Scorecard Summary

Pay calculation (2)
9.0
Benefit plan administration (1)
7
Direct deposit files (1)
8
Salary revision and increment management (2)
7.5
Reimbursement management (2)
9.0
API for custom integration (2)
9.0
Plug-ins (3)
7.0
Single sign-on capability (2)
8.7
Role-based user permissions (5)
8.9
Dashboards (5)
7.6
Standard reports (5)
7.3
Custom reports (5)
8.3
Accounts payable (5)
8.4
Accounts receivable (4)
7.7
Cash management (5)
7.8
Bank reconciliation (6)
8.1
Expense management (5)
7.5
Time tracking (2)
5.9
Fixed asset management (4)
7.8
Multi-currency support (3)
7.7
Multi-division support (3)
8.0
Regulations compliance (4)
7.6
Electronic tax filing (2)
7.0
Self-service portal (4)
6.4
Global Financial Support (4)
7.2
Primary and Secondary Ledgers (4)
7.3
Intercompany Accounting (4)
7.5
Localizations (3)
8.0
Journals and Reconciliations (4)
8.2
Enterprise Accounting (3)
7.7
Configurable Accounting (4)
6.6
Centralized Rules Framework (3)
7.7
Standardized Processes (4)
7.7
Location management (1)
8
Pricing (1)
8
Order entry (1)
8
Credit card processing (1)
8
Cost of goods sold (1)
8
Order Orchestration (1)
8
End-to-end order visibility (1)
8
Order exception Resolution (1)
8
Branded client dashboards (1)
8
Client data roll-up capabilities (1)
8
Client data consolidation for benchmarking (1)
8
Configurable alerts (1)
8
Billing bypass (1)
8
Client template cloning (1)
8
Single sign-on (1)
8
Configurable client onboarding questions (1)
8
Cross-client workflow management (1)
8
Industry-specific versioning (1)
8
Legacy system data migration (1)
8

About Financial Edge

Categories:  Accounting & Budgeting

Financial Edge Technical Details

Operating Systems: Unspecified
Mobile Application:No