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Financial Edge NXT: Cloud Accounting Software for Nonprofits

Key Product Features of Financial Edge NXT

Financial Edge NXT is a comprehensive financial management solution built specifically to meet the needs of nonprofit organizations. Powerful accounting features empower nonprofit finance staff members with the transparency, flexibility, and intelligence they need to improve efficiency and drive results.

 

Core Fund Accounting

General Ledger

Built exclusively for nonprofits and government entities, Financial Edge NXT’s flexible General Ledger structure can manage your complex reporting requirements, even for the most challenging stakeholders. Designed over decades of working with nonprofit accountants, Blackbaud uses a combination of powerful tools—from account segments to transaction characteristics—to deliver an experience that’s tailored to your unique business processes while providing control and simplicity that commercial systems can’t offer.

As the core component of Financial Edge NXT, all transactions flow from other modules into the General Ledger’s accounts and projects. Our General Ledger design allows you to easily report from multiple perspectives while maintaining a clean chart of accounts, implement strong internal controls, and seamlessly adapt to changing funder requirements with best-in-class reporting design.

Allocation Management

Automatically allocate amounts by account, account attribute, project, project attribute, transaction code, and transaction attribute. Allocation Management provides mechanisms for both direct and indirect allocations, as well as reallocations based on ending balances, average daily balances, or net change balances—eliminating the need for external spreadsheets that have no built-in validation.

Advanced Security

Set full security on accounts, projects, reports, queries, and more. Your system administrator or staff member with supervisor security rights can give or deny user rights to specific information so it does not appear on an unauthorized user’s search screen or in any reports that user creates. With Advanced Security, you can easily and securely share performance information with non-financial read-only users.

Budget Management

Budget years into the future so your organization can prioritize its expenditures, assess its funding needs, and make comparisons across fiscal years. You can configure project-level budgets to automatically change existing account budgets and create multiple “what if” budget scenarios to measure the impact of potential change. Budget Management also helps you control expenses by establishing spend thresholds that can later trigger alerts based on actual performance.

Projects, Grants, and Endowments

By tracking transaction and budgeting data at the project level, you can monitor key initiatives with ease. Separate and report on activity for various projects, endowment, events, scholarships, investments, and other elements without exploding the number of accounts in your system. Projects, Grants, and Endowments allows you to keep pulse of activity right on the project record—without running reports—and create project-level budgets to keep all your initiatives on track. Finally, grant management tools help you reduce grant administration efforts, by allowing you to capture unlimited grant information, set deadlines, report across multiple fiscal periods, and even automate reimbursement billing.

SKY Reporting and Dashboards

SKY Reporting and Dashboards provides your staff with timely, actionable financial data. Use interactive transactional reports, personalized dashboards, and advanced analytical tools to generate board-ready reports in an instant, schedule email report updates, or drill into report details to analyze key metrics. SKY Reporting is the future of integrated business intelligence for nonprofits, designed to combine data insights across multiple Blackbaud solutions.

In addition, Financial Edge NXT takes advantage of classic Financial Edge concepts, like advanced filtering by virtually any data element, making it the fastest and most flexible reporting tool for managing dynamic funding requirements.

Working Capital Management

Accounts Payable

Make payments any way you want—by check, bank draft, direct disbursement, credit card, or electronic funds transfer (EFT). Accounts Payable makes paying bills easier while giving you the ability to meet changing payee requirements, maintain sound controls, and conduct analysis to properly manage your vendor relationships and liquidity. Accounts Payable combines with Purchasing, Expense Management, and Cash Management to provide your organization with a complete and efficient A/P workflow.

Accounts Receivable

Track individual clients, organizations, and funding sources. Accounts Receivable provides the ability to establish default payment responsibility for each client record, enabling you to bill a third party for a portion or all of a client’s charges and services rendered. You can also apply one payment (whether cash, check, or credit card) to multiple client accounts and draft automatic payments from a specified bank account.

Cash Management

Manage multiple bank accounts and credit cards with advanced features to simplify payment adjustments, account activity, and reconciliation. For each account, you can view a register listing all deposits and disbursements, drilling down to view additional details. With Bank Feeds, you can automate your reconciliation process to ensure that you start balanced and stay balanced, improving your time-to-close. Cash Receipts functionality allows you to handle the small cash details that can clutter a ledger, such as postage meter money and vending machine revenue.

Purchasing and Employee Expense

Expense Management

Obtain an unprecedented view into how money is being spent within your organization by automating your full purchasing and employee expense processes in the cloud. Eliminate time-and-resource-consuming manual, paper-based processes, while ensuring that your organization’s spending policies are applied and enforced via online workflows directly integrated with your accounting ledgers. In addition to aggregating your holistic view of organizational spend, Expense Management allows you to control decentralized spending, reduce administration time, and automate reconciliation processes.

Purchase Orders

Take advantage of a variety of options for recording purchases, tracking encumbrances, and generating invoices from receipts. You can track the complete order process, from the initial requisition through the entry and printing of purchase orders to the recording of merchandise when it arrives and the generation of accounts payable invoices.

Other Modules

Accounting Queue

Schedule a sequence of tasks that can be executed, one after the other, automatically and unattended. Using Accounting Queue is easy: simply add tasks to a queue and schedule it to run whenever you want, even overnight or during a weekend. Queue can automate tasks such as printing, emailing, importing, exporting, and posting various data in Financial Edge NXT.

Consolidation Management

Whether your organization is reporting on multiple chapters, foreign or domestic subsidiary offices, headquarters, or outreach operations, Consolidation Management automates the “roll up” of financial data, letting staff efficiently consolidate and report across different datasets with varying account structures, fiscal years, or currencies.

Fixed Assets

Store all the information your organization needs to properly track and manage your property, plant, and equipment. The solution calculates depreciation based on built-in IRS formulas or on custom depreciation schedules you enter to meet specific needs.

Payroll

Simplify your payroll administration and human resources procedures. Payroll makes your in-house payroll process a timely and cost-effective alternative to outsourcing. Designed to reflect current employment trends, this sophisticated, yet easy-to-use system accommodates incentives offered in today’s workplace, such as flexible work schedules, complex benefits packages, and much more.

Integration and Support

Integration with Raiser's Edge NXT

Financial Edge NXT was designed from the ground up alongside the world's leading fundraising and supporter management solution, Raiser's Edge NXT. Together, the two provide the leading ERP solution for nonprofit organizations. Access constituent data from the Raiser's Edge NXT when reviewing donations; automate gift entry while retaining control of posting; and ensure the integrity of your data by eliminating manual entries—all pre-integrated but highly configurable.

SKY API

SKY API provides open, RESTful APIs, allowing for more customization, integration, and extended functionality—all protected by industry-standard authorization and authentication tools. With SKY API and Blackbaud's modern developer portal, your in-house developers or consultants can get started quickly using the available endpoints of Financial Edge NXT and other Blackbaud solutions.

Phone Support

Blackbaud support resources include comprehensive online resources, vibrant user communities, and standard chat support directly through Financial Edge NXT. With standard operation hours from 8:30 a.m. to 8:00 p.m. ET, Blackbaud's award-winning support program has an option to fit every need, including phone support and extended priority hours. Our support analysts work exclusively with nonprofit organizations, so you can feel confident of getting expert advice on any issue.

Training from Blackbaud University

Financial Edge NXT packages come standard with basic self-guided training online. More advanced options are available through our Learn subscription offerings, allowing you to continue building foundational skills or become a power-user. Blackbaud University courses are CPE accredited, and you can choose from over 40+ online instructor-led classes.

 
 

Blackbaud (NASDAQ: BLKB) is the world’s leading cloud software company powering social good. Serving the entire social good community—nonprofits, foundations, corporations, education institutions, healthcare institutions and individual change agents—Blackbaud connects and empowers organizations to increase their impact through software, services, expertise, and data intelligence. The Blackbaud portfolio is tailored to the unique needs of vertical markets, with solutions for fundraising and CRM, marketing, advocacy, peer-to-peer fundraising, corporate social responsibility, school management, ticketing, grantmaking, financial management, payment processing, and analytics. Serving the industry for more than three decades, Blackbaud is headquartered in Charleston, South Carolina and has operations in the United States, Australia, Canada and the United Kingdom. For more information, visit www.blackbaud.com.

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