Blackbaud Financial Edge NXT

Blackbaud Financial Edge NXT

Cloud fund accounting software for social good organizations

About Blackbaud Financial Edge NXT

Financial Edge NXT is cloud-based fund accounting platform designed specifically for small to large nonprofits and government entities that enables users to support fundraising efforts, and monitor and track program success in a single platform. Accounting teams are able to efficiently manage transactions, securely share information, and eliminate manual processes, as well as drive transparency and financial control using advanced financial reporting tools.

Financial Edge NXT includes a flexible general ledger structure including tools for account segments, to transaction characteristics. Users are able to maintain a streamlined account structure with the ability to capture transaction details and require funds to balance by grant, project, department, and more. Blackbaud's ERP module helps automate information flow across the organization, improving donor transparency and eliminating duplicate data entry.

Internal controls and compliance features help organizations commit to ethical accounting practices with tools to prevent wasteful spending, fraud, breach of policy, and other destructive behavior. Automated workflows help control activities while structuring the control environment to fit organizational needs. In-depth records, configurable dashboards, and custom reports help with financial planning and analysis, allowing users to review critical information and drill down to see which transactions are driving results.

The grant accounting module allows users to manage grant activity and complete grant administrative tasks within a single system. Revenue and expenses at the grant level can be tracked and reported on by type, amount, status, and start/end dates, and information such as grantor contact details, budgets, reimbursable expenses, and more can be securely stored. With efficient workflows, users are able to manage cash flow, accounts payable / receivable, and ensure the organization’s spending policies are enforced.


Key benefits of Blackbaud Financial Edge NXT

  • Simplify fund accounting and efficiently manage complex reporting requirements and maintain a streamlined chart of accounts with Financial Edge NXT's flexible general ledger structure.
  • Streamline communication across the entire organization and eliminate duplicate data entry with Blackbaud's ERP which helps automate information flow between offices.
  • Review critical information using Blackbaud's configurable dashboards and custom reports, and get a more detailed look at transactions for financial planning and analysis.
  • Limit the need for spreadsheets by storing all grant related data within a single system and complete all grant administrative tasks in one place.
  • Manage accounts payable, accounts receivable, and cash flow with efficient workflows to ensure the organization's spending policies are enforced and reduce time consuming manual processes.

  • Images

    Blackbaud Financial Edge NXT Software - FENXT vendoractivity
    Blackbaud Financial Edge NXT Software - FENXT bank account
    Blackbaud Financial Edge NXT Software - FENXT balancesheet
    Blackbaud Financial Edge NXT Software - FENXT accounts filter
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    Blackbaud Financial Edge NXT video
    Blackbaud Financial Edge NXT Software - FENXT vendoractivity
    Blackbaud Financial Edge NXT Software - FENXT bank account
    Blackbaud Financial Edge NXT Software - FENXT balancesheet
    Blackbaud Financial Edge NXT Software - FENXT accounts filter

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    R 8 000,00
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    Pricing Options

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    Integrations

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    Ease of Use

    3,9 (166)
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    Reviews

    Overall rating

    4,2 /5
    (166)
    Value for Money
    3,7/5
    Features
    4,1/5
    Ease of Use
    3,9/5
    Customer Support
    4,2/5

    Already have Blackbaud Financial Edge NXT?

    Software buyers need your help! Product reviews help the rest of us make great decisions.

    Showing 5 reviews of 166
    Cain
    Overall rating
    • Industry: Civic & Social Organization
    • Review Source

    Overall rating

    • Value for Money
    • Ease of Use
    • Customer Support
    • Likelihood to recommend 10.0 /10

    The best nonprofit accounting software, period.

    Reviewed on 2016/07/22

    Pros

    FE is quite flexible, especially its chart of accounts and the number of segments you can report on. Setup is easy, and unlike other packages, you're not glued to what you set up originally. If down the road you find you need to add a segment to your chart of accounts for reporting purposes, you can do that on the fly. And you don't need to be concerned at set-up with adding future account segments. But make no mistake: you've got to have a basic understanding of accounting in order to appreciate this product for all it can do. Customer support, through annual maintenance contracts, is excellent.

    Cons

    I too would like to be able to export financial reports into Excel without having to re-format when I get to Excel. That's a mild inconvenience, but there are times when you want to put stuff, data onto financial reports that can't get there any other way than through manipulation in Excel.

    Robert
    Overall rating
    • Industry: Philanthropy
    • Company size: 11–50 Employees
    • Used Daily for 1-5 months
    • Review Source

    Overall rating

    • Value for Money
    • Ease of Use
    • Customer Support
    • Likelihood to recommend 6.0 /10

    Blackbaud Financial Edge (BBFE)

    Reviewed on 2016/10/04

    BBFE has both strengths and weaknesses, as might be expected. It is a true fund accounting...

    BBFE has both strengths and weaknesses, as might be expected. It is a true fund accounting software with the ability to handle thousands of funds. Being able to push data in and exporting data out are 2 features that are usually very important, and BBFE mostly does that well. BBFE allows for attaching various homegrown codes to the data at the fund, account, and transaction level. This is not a panacea but can be helpful. The software can be used in a fairly high volume a/p environment and the g/l functionality is also pretty good.

    Pros

    Exporting data is easy, so long as the export you are looking for is available. Importing fund codes is do-able but may require some significant preparation of the upload. BBFE allows for a seemingly unlimited amount of codes to be attached to funds, accounts, and transaction lines. This is very helpful. BBFE has some built in custom reporting facilities that can be helpful. BBFE has a detailed security model that can help with internal controls.

    Cons

    Reports: many of the builtin reports do not contain running totals and grand totals as well as header information page-to-page as one would like. Exports: the data exports are not true sql type, but are a simplified version, which is sometimes adequate. You might need another sql facility to adequately access the data and control the data joins. BBFE imposes credit memos and disallows negative invoices--depending on what you are doing, that could be a big problem that will need to be addressed. BBFE automatically computes and shows balance forwards and each year does not stand on its own, so for some data analysis you might have to compute balance forwards in order to avoid having to download all historical data. BBFE doesn't enforce cash balancing for JEs (if 2 funds are exchanging cash, the JE can give more cash to the recipient than was removed from the payer). BBFE doesn't seem to understand control funds (a fund that holds detail information that belongs to a pool of other funds)--this will require booking JEs that would be unnecessary in some other fund accounting software. BBFE enforces using an outside service for production of 1099s.

    Angie
    Overall rating
    • Industry: Philanthropy
    • Company size: 501–1 000 Employees
    • Used Daily for 1+ year
    • Review Source

    Overall rating

    • Value for Money
    • Ease of Use
    • Customer Support
    • Likelihood to recommend 3.0 /10

    FE- no thanks!

    Reviewed on 2018/01/19

    We were pushed into FE after our original program, Fundware, was "sunsetting". In hindsight, we...

    We were pushed into FE after our original program, Fundware, was "sunsetting". In hindsight, we should've researched other programs before settling with this one.

    Pros

    I guess if not being "too complex" is a pro, that would be it for Financial Edge. It is a simple product and doesn't have too many bells and whistles so its pretty easy to pick up on.

    Cons

    Hmm where to being....
    I will preface this by saying that our implementation of FE was a nightmare. They had people leaving the company left and right and in our 3 month implementation and data conversion, we were passed along to 3 different Project managers. Because of this we were playing a constant game of catch up and I don't think we were ever really given a good training of how to use the product. Also, employee support is HORRIBLE with this product. Blackbaud parcels out their support to 3rd party companies and we were working with Zobrio. They were of no help to us. The prduct doesnt intergrate with our other platforms well, so importing info in to our GL is a process that could be made much easier. We also used them for payroll for a while which was an absolute nightmare. Our W-2's were wrong due to wrong info being imported during our data conversion. We also spent many late nights working on payroll issues in the program and again, had no response when calling Zobrio or Blackbaud. ( Blackbaud did get back to us once and worked well with us, but it was quite an undertaking to even get to a person at Blackbaud. The accounting side of the software is probably the best, but overall, I am sure there are much better accounting programs out there.

    George
    Overall rating
    • Industry: Education Management
    • Company size: 1 001–5 000 Employees
    • Used Weekly for 2+ years
    • Review Source

    Overall rating

    • Value for Money
    • Ease of Use
    • Customer Support
    • Likelihood to recommend 9.0 /10

    Financial Edge - the application that works with Raiser's Edge

    Reviewed on 2019/03/14

    Overall, FE is a good application if you are already RE but do not have an existing accounting...

    Overall, FE is a good application if you are already RE but do not have an existing accounting application. If your organization is small and do not have an IT team, then look at Blackbaud to host your RE and FE applications and let the professionals take care of your application hardware infrastructure.

    Pros

    If you are using Blackbaud's Raiser's Edge (RE) software and need another application to perform accounting functions, Financial Edge (FE) is the application that will take care of Vendor tracking, A/R, A/P, etc. Rather than using another accounting application (ie. Quickbooks), Financial Edge integrates with Raiser's Edge. When you post gifts from Raiser's Edge, it goes over to Financial Edge and updates the information. The information for batch number, Appeal, Funds, Campaign migrate over to FE from RE. The user interface, look and feel between Financial Edge and Raiser's are the same. If you know RE, then FE will be easy to catch on. If you are hosted by Blackbaud, then you will be looking for FE/NXT

    Cons

    While there is a lot of integration from RE to FE, this comes at a cost. The FE application is expensive compared to other financial applications. If you are hosting FE on-premise, I believe Blackbaud charges by the number of users. You also need to a server with SQL to run FE. This is not like QuickBooks which can install on a local PC. If you are hosted by Blackbaud, then you will be looking at FE/NXT and again price will your main concern.

    Jeremiah
    Overall rating
    • Industry: Nonprofit Organization Management
    • Company size: 51–200 Employees
    • Used Daily for 2+ years
    • Review Source

    Overall rating

    • Value for Money
    • Ease of Use
    • Customer Support
    • Likelihood to recommend 8.0 /10

    Financial Edge User

    Reviewed on 2017/02/16

    I have been using Financial Edge for almost four years now and the the strides they have made from...

    I have been using Financial Edge for almost four years now and the the strides they have made from my first impression to now are outstanding. When I first started my job I was thrown into the systems and provided little training and while the system (Accounts Payable, General Ledger) were easy to learn they were a little clunky looking and the features that made them powerful (attributes, global changes) were not something you would find on your own. We recently (been a little over a year) moved to the NXT version and while all the functionality is not there yet I do appreciate BlackBaud taking the time to listen to their customers while building out the functionality instead of just updating it based on the database view. While this make take more time to build out (which can be frustrating) it will hopefully allow for an even more powerful platform in the end that allows us to be a more effective and efficient team in the end.

    Pros

    New functionalities being rolled out that allow us to use more systems working together instead of isolated.
    Community boards to allow users to make suggestions and learn from each other.

    Cons

    That NXT is not complete yet (but I understand why and agree with their methodology).
    Customer support can be clunky at times when the first person is not able to help you.

    Showing 5 reviews of 166 Read all reviews

    Blackbaud Financial Edge NXT FAQs

    Below are some frequently asked questions for Blackbaud Financial Edge NXT.

    Blackbaud Financial Edge NXT offers the following pricing plans:

    • Starting from: US$0,01/year
    • Pricing model: Subscription
    • Free Trial: Not Available

    Contact Blackbaud for detailed pricing information.

    Blackbaud Financial Edge NXT has the following typical customers:

    11–50, 51–200, 201–500, 501–1 000, 1 001–5 000

    Blackbaud Financial Edge NXT supports the following languages:

    English

    Blackbaud Financial Edge NXT supports the following devices:

    Blackbaud Financial Edge NXT integrates with the following applications:

    Blackbaud Raiser's Edge NXT

    Blackbaud Financial Edge NXT offers the following support options:

    Email/Help Desk, FAQs/Forum, Knowledge Base, Phone Support, 24/7 (Live rep), Chat

    Related categories

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