Blackbaud Financial Edge NXT with Blackbaud Tuition Management

June 19, 2018

Let’s end the frustrations of managing separate school accounting, tuition, and billing systems that don’t truly “talk” to each other. The combination of cloud-based Blackbaud Financial Edge NXT® and Blackbaud Tuition ManagementTM (formerly Blackbaud Smart TuitionTM) software solutions provides business offices with a cohesive system to streamline tuition and other payments into the school’s general ledger—saving time, money, and frustration, too.

Key Features

  • Blackbaud Financial Edge NXT accounting software provides a complete picture of the school’s financial health and reduces overhead with process automation
  • Blackbaud Tuition Management (formerly Blackbaud Smart Tuition) school billing software consolidates all invoicing, payments, and financial reporting into an easy-to-use system
  • Blackbaud Tuition Management (formerly Blackbaud Smart Tuition) functions as a sub-ledger to Blackbaud Financial Edge NXT, posting payments directly into the school’s general ledger
  • The connection between tuition management and the fund accounting system significantly reduces the risk of human error
  • Account numbers for tuition, discounts, and other fees that are matched in Blackbaud Financial Edge NXT can be predefined to the general ledger
  • Data is kept clean with built-in features that check for duplicates and make changes before posting to Blackbaud Financial Edge NXT
  • The integration with Blackbaud Enrollment Management SystemTM (formerly onBoard®) automatically creates new family accounts in Blackbaud Tuition Management (formerly Blackbaud Smart Tuition) upon contract submission, and payments automatically flow to Blackbaud Tuition Management (formerly Blackbaud Smart Tuition), your general ledger in Blackbaud Financial Edge NXT, and ultimately, to your bank reconciliation

Benefits to Your School

Fund Accounting with Blackbaud Financial Edge NXT

  • Comprehensive fund accounting with over 150 customizable report to meet your shareholder needs
  • Flexible chart of accounts, including sub-account dimensions for tracking things like programs, grants, and endowments
  • Built-in budgeting with unlimited scenarios and forecasting into the future
  • Twenty prescriptive dashboards designed from over 30 years of fund accounting experience
  • Full payable, purchasing, and requisition subledgers

Tuition and Billing Control with Blackbaud Tuition Management (formerly Blackbaud Smart Tuition)

  • Apply tuition and fees to an individual family bill or a group of accounts
  • Manage extended care with weekly, daily, or drop-in charges
  • Get flexible payment plans determined by the school
  • Allow families to choose from a variety of payment methods, including the mobile-friendly platform, to support their on-the-go lifestyle
  • Increase payment efficiency with Blackbaud’s effective follow-up service—less than 2% are past due beyond 90 days
  • Customize reporting and dashboards by stakeholder
  • Protect financial data with trusted privacy and security

"The connection between tuition management and the fund accounting system significantly reduces the risk of human error."

Efficient Operations with an Integrated Business Office

  • Eliminate double-data entry and the risk of human error by posting tuition and fees directly into the general ledger
  • Post payments in a way that makes sense to you: Provide summaries in situations with thousands of students or a brief detail when there’s less students (maintaining the ability to view the full detail in the subledger)
  • Send remittances every five days through Blackbaud Tuition Management (formerly Blackbaud Smart Tuition), and post cash to Blackbaud Financial Edge NXT—eliminating the need for manual spreadsheets
  • Automate revenue recognition with options to immediately recognize all revenue or a portion of monthly tuition

Your Whole School Connected

How can Blackbaud Financial Edge NXT and Blackbaud Tuition Management (formerly Blackbaud Smart Tuition) help connect your whole school?

  • Application forms from Blackbaud Enrollment Management System (formerly onBoard) flow into Blackbaud Tuition Management (formerly Blackbaud Smart Tuition), where families can choose their payment plan and pay tuition
  • Blackbaud Tuition Management (formerly Blackbaud Smart Tuition) then posts these payments directly into the general ledger of Financial Edge®
  • The families keep the login they created during the application process to access their child’s courses, homework assignments, schedule, grades, conduct, and more in the learning management and student information systems
  • Altogether, it’s a seamless experience for families and administrators

Please download the infosheet above to learn more.

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