Financial Edge NXT

Transitioned from American Fundware

Really miss my quick and easy American Fundware. FE is decent, but oh, so, slow. Just not a dream come true.

Pros

Not sure there are any more pro's than with American Fundware. C'mon Blackbaud, let's get on some of these items. Phased out a perfectly good software which takes ten clicks and many more minutes to do what was done in seconds with American Fundware.

Cons

Very slow Does not work well with F9. Allocation module is cripplingly slow. Sorry, just not a big fan.

great app! very useful.

Pros

What I really like about this product is that you dont need to process your financial transaction in manual, it has a tools that automatically provide processes you just need to input details.

Cons

I dont see any problem in this product it is very useful especially in financial fields and it is worth the price.

Previous User of this product

Pros

This product works great for fund accounting. Also like the features available for tracking or researching GL items.

Cons

The only problem we had was with uploads from other software programs to Financial Edge. We used this product for several years and it served us very well.

Best to use for financial planning!

Pros

This comes in handy when we want to project a budget for the next few years. It allows us to make comparisons from our current and past years to see where we need to make changes etc. It also helps when we want to share the data collected and share them with our staff that isn't necessarily financial people, it helps make it clear for them.

Cons

The grant accounting is a great tool, just not one that we actively use at our non-profit. I would love to do more with this in the future.

Accounting made easy!

Would highly recommend for functionality and integration to other software programs for non-profits.

Pros

Integration with the Raiser’s Edge is excellent and has really streamlined our organization’s processes. General ledge functionality is easy and intuitive for the user.

Cons

Only chat support is included at no cost. With the complexity of the software, phone support would be invaluable and really should be included at no additional cost.

Easy transition

Very user friendly and love reports.

Pros

easy to use and set up company with multiple funding streams. I am able to run multiple reports that work well with my financial statement requirements.

Cons

I am unhappy that I cannot scan invoices and attach as backup to bills as I can do in QuickBooks. I have to have my own scan file to use instead of using the software.

Easy to use

Pros

There is a lot of training available for Financial Edge. It integrates smoothly with Raiser's Edge and it is easy to teach new people without having to do ALL of the training.

Cons

If something is not set up properly at the beginning it's a lengthy process to correct. It is very possible to correct and Blackbaud is very helpful.

Happy convert from Quickbooks Online

If you use RE, definitely integrate and use FE!

Pros

Integration with RE is the main reason we converted from QB Online. It was a great decision, as it has increased efficiency and reduced errors.

Cons

It was somewhat challenging for our accounting staff to get used to, since they aren't RE users, but the training package is quite good.

Overall a very good experience with this product

Pros

Best feature with financial edge is that you are guaranteed to have assistance throughout your process

Cons

The cost factor is more on the pricey side compared to other competing products. If you can spend the extra money then go for it

Full featured software but not cheap

Pros

Great functionality, and able to handle everything our local non-profit organization needs it to do, including integration with the donor management side, Blackbaud Raisers Edge. An example of the good integration is that gifts recorded in Raisers Edge then can be posted over to Financial Edge, to avoid duplicate entry. Good audit trail for all transactions, with inability to change posted items.

Cons

The desktop version is being phased out with customer support and account reps strongly encouraging a move to the web based version, which is in fact more user friendly (per the demos I've seen) but is also more expensive, and it already was not cheap.

Need for consolidation in one software.

Would really like to see Blackbaud come up with one software for Fundraising, Finances and Budgeting

Pros

On Line Resources: We seem to be able to get some good on line resources but extra service fee for a call.

Cons

Too many clicks to get what is needed. Too many modules which are interrelated causing a larger expense which at first was less.

Maximizing Time and Effort - Minimizing Paper

If you are having issues, contact support staff. Work with them. If you need to refine your initial setup do so earlier than later, you will appreciate it the long run.

Pros

The integration between Altru (our sub-ledger), BB Merchant Services and FE/NXT is superb in my opinion. You have the ability to track a transaction backwards and forwards. We use the visual chart feature to create our budget in five different views - relating to the grants we are using, thereby eliminating errors in data collection by excel spreadsheet creations not getting updated.
Someone mentioned that thinking about the creation of your organization and GL was a big con for them. I disagree. We came on board with expert advice from BB and created a cohesive database that allows us to close the month within two-three days. I think the effort that is put into creating a tool should be as important as the information that you hope to receive from its use.

Cons

A few spotty delays when I an running an exceptionally detailed report as you watch the Jeopardy button go around in circles.

Integrated with Raiser's Edge and other Blackbaud software

Pros

From my fundraising office perspective, using Financial Edge simplifies the back office administrative work as recording gifts, reconciliation and budget tracking are streamlined. No need to translate data back anbd forth to between two or more systems.

Cons

Takes time and effort to get the set-up right. Make sure to keep notes on procedures and train long-term staff well.

Very intuitive

Pros

The Visual chart organizer makes it easy to shuffle our numbers into different formats depending on the purpose and the audience.

Cons

I don’t like having to click multiple tabs to see all related information abt something (budget and actuals for an account, or vendor info and payment activity) but looking forward to NXT which will solve this.

Good training program

Pros

Really enjoying the training available for leArning financial edge. Accounting software is easy to use.

Cons

Customer service tickets could improve. I placed a ticket and they could not help me. But I met someone at the conference and he is going to push the issue forward.

Many wishes

Ready for FENXT to become fully functional.

Pros

Like the ease of use as well as the availability of reporting. Like the connectivity between RE and FE.

Cons

Creating budgets is cumbersome. Wish there were more excel like functions for calculating totals. Getting issues resolved can be very time consuming.

Streamlined Accounting

I am positive this tool will be the excellent complete package once the transition in completed!

Pros

-Ease of Navigation
-Intuitive
-Multi-level Filtering on Displays/Dashboards
-Detailed Filtering in reporting
-Ease of Report Export
-Inclusion and detail of Accounts Payable Subsidiary Ledger (Module)

Cons

-Slower transition from Database version, forcing the switch between the two versions to complete all tasks.

Great product. Waiting for full functionality. I still need to switch to FE to cut checks.

Overall, NXT is a great product. Once it is fully functional, it will be an even better product!

Pros

I like the fact that I can attach a document to an invoice or vendor profile. I also like the fact that I can uncheck the 1099 option in a new invoice if it is not required.

Cons

When I search for vendor invoices, I would like to see, on the listing page, a note that there is an attachment in the invoice without having to open it up to look.

Accounting and Budgeting Software

Pros

- easy to use
- lots of custom features to fit to the organization
- there are many segment to allocate and to analyze

Cons

- only 10 years in budget can go into system
- Budgeting tool is optional so it will cost more than basic plan

Powerful

I would like to see NXT have all the functionalities that the database view has. I cannot do everything I need to do in just NXT, so we have to use the database view daily.

Pros

I like most of the reporting. I also like the functionality in the database view. I really like the last invoice input view in NXT to help me keep my obligation description consistent.

Cons

NXT does not do everything I need it to and there are a lot of mouse clicks to finish a transaction, although I am seeing improvements as time goes on.