Your school fosters an environment of academic excellence while striving to demonstrate fiscal responsibility to constituents. With myriad programs and revenue sources, it can be challenging to manage all of your financial data in one solution. Using peripheral applications such as spreadsheets to plan, track, and report activity by department, fund, or program makes reconciling disparate data a tedious and time-consuming process.
As a complete financial management system built for compliance with school accounting and reporting requirements, Blackbaud Financial Edge NXT can help improve operational efficiency by eliminating duplicative data entry, streamlining your financial processes, and ensuring your stakeholders have timely access to the information they need anytime and anywhere.
Blackbaud Financial Edge NXT allows you to:
- Cultivate a deeper understanding of your school’s finances with real-time analysis on any device
- Automate repetitive tasks and organize actions and alerts to increase operational efficiency while improving the accuracy of financial data
- Create and manage multiple budgets and control organizational spending by enforcing business rules
- Ensure accountability to stakeholders with the ability to track programs on a level separately from your chart of accounts
Blackbaud Financial Edge NXT comes with powerful fund accounting features, such as:
Efficient Financial Management
Track and report on all of your restricted and unrestricted funds without the need for manual spreadsheets, saving valuable staff time and improving the accuracy of your data. Improve stewardship and ensure compliance with the ability to effectively manage fund restrictions and communicate how funds are being spent. With Blackbaud Financial Edge NXT you get the benefits of
- Comprehensive account, project, and grant records that provide versatile tracking, security options, budgeting, allocations, activity history, and much more—without the need to pull reports
- Unlimited tracking characteristics for balancing and filtering transactions—allowing you to capture important business data outside of your account string
- A flexible account structure that allows you to easily manage funds, accounts codes, and additional account segments—giving you multiple layers of reporting that can be arranged as needed
Fast, Flexible Reporting
Gain a complete picture of your school’s finances with powerful reporting and analysis. Dozens of pre-built report templates can be tailored to suit your needs without the need to manually manipulate data. Respond quickly to donor requests with the ability create and save custom reports for easy access to the information you need in the format you need it.
Provide internal decision-makers and department heads with secure, view-only access to the information they need without burdening your finance team with ad-hoc requests. Intuitive dashboards provide instant access to big-picture information with the ability to drill down into detailed program data for performance analysis and more strategic decision making. Users can populate their dashboards with the tasks, records, and reports they access most frequently.
Create and manage detailed budgets down to the department or fund level and make comparisons across user-defined fiscal periods. Build as many budget scenarios as you need, then combine and compare them to evaluate multiple budgeting possibilities. Monitor budget availability and budget-to-actual performance and set spending rules to prevent out-of-budget expenses. Automatic alerts notify users if a transaction will cause your school to go over budget.
Robust Internal Controls
Govern your financials—from user-specific rights to powerful approval controls—so you can trust that your school’s data is always secure. Structure the control environment to fit your needs and enforce your control activities through automated workflows. Maintain tight approval controls around spending to ensure compliance with funder and donor requirements, and protect confidential information with full security on accounts, projects, and reports.
Comprehensive School Management Tools for All Your Needs
Keep your entire school connected with Blackbaud’s cloud-based school management solutions. Blackbaud Financial Edge NXT and Smart Tuition come together to create a superior user experience for your school business officers. Smart Tuition’s premium billing solution provides one system for invoicing, payment data consolidation, and financial reporting.
Plus, as part of the world’s leading cloud suite for nonprofits, Blackbaud Financial Edge NXT integrates with Blackbaud Raiser’s Edge NXT®. Save time and increase data accuracy with the ability to transfer transactions directly from Raiser’s Edge NXT to your general ledger, while maintaining control of posting.
Features of Blackbaud Financial Edge NXT
Built as a complete fund accounting solution, Blackbaud Financial Edge NXT provides your business office with tools to manage direct and indirect allocations, fixed asset, employee expenses, encumbrances, restricted funds, requisitions, and more.
- General Ledger
- SKY Reporting™ and Dashboards
- Advanced Security
- Accounts Payable
- Accounts Receivable
- Fixed Assets
- Expense Management
- Cash Management
- Budget Management
- Allocation Management
- Purchase Orders
- Projects, Grants, and Endowments
- Consolidation Management
- Accounting Queue
- Accounting Forms
- SKY API®
- Blackbaud University Training