Financial Edge NXT, by Blackbaud, is cloud-based nonprofit accounting software that helps you track programs, plan and organize budgets, manage financial reporting, and more. Its features include grant accounting, working capital and expense management, accounts payable (A/P) and accounts receivable (A/R) management, and more. It is best for nonprofits and government entities that manage complex grant requirements.
Financial Edge NXT Pros and Cons
Comprehensive and user-friendly interface
Manual time recording
Smooth A/P and A/R modules
Excellent reporting formats
Who Financial Edge NXT Is Best For
- Nonprofits and government entities that manage complex grant requirements: Financial Edge NXT offers versatile grant tracking and reporting tools that enable users to calculate their grant reimbursement requests easily, generate unlimited grant-level budget settings, allocate direct and indirect costs seamlessly based on grantor stipulations, and more.
Financial Edge NXT Pricing
Financial Edge NXT’s pricing details are not publicly available on its website, but you can contact the provider to request its pricing information or get a customized quote.
Financial Edge NXT Alternatives 2020
Nonprofit Accounting Software
(Best overall) Nonprofit organizations that need an accounting platform with a customized chart of accounts and reports
Nonprofits looking for an alternative to QuickBooks for Nonprofit
Nonprofits with annual gross receipts of more than $10 million that need accounting, projecting tracking, and customer relationship management (CRM)
Nonprofits that need to access their data 24/7/365 from any mobile device at an affordable price
Nonprofits that require a software with an in-depth dashboard that provides multiple metrics at a glance and advanced report filtering
In addition to industry-specific software, your business might be served well by general-purpose small business accounting software.
Financial Edge NXT Features
Financial Edge NXT offers a robust set of fund accounting features that help users manage and streamline their grant transactions using configurable dashboards, in-depth records, and customized reports. Below is a list of its top features to help you decide whether or not Financial Edge NXT is for you.
Financial Planning and Analysis
Financial Edge NXT is built to help you streamline your financial workflows with the help of its built-in reporting, budgeting, and analysis tools. The platform lets you plan your budgets and expenses by departments, grants, programs, or projects, generate custom rules and automatic notifications, instantly update out-of-the-box Financial Accounting Standards Board (FASB)-compliant reports, and more.
Working Capital and Expense Management
This feature enables you to manage your A/P and A/R with customized workflows and automated approvals. It also has the functionalities you need to simplify bill payment processes; separately track individual clients, organizations, and funding sources; and automate your reconciliation process, among others.
Create and configure internal controls to prevent unwanted behaviors and activities, such as the creation of invalid account combinations and reopening of closed fiscal years. You can secure confidential data by controlling the information that a user can access.
Generate and compare detailed budgets and reports at a grant level across user-defined timelines. You may create reports easily across multiple grant periods, report on status and reimbursement, and view budget vs. actual performance reports.
Most Helpful Financial Edge NXT Reviews
Users who gave positive reviews of Financial Edge NXT like that it is easy to use and navigate. Some mentioned that its A/P and A/R modules are extremely smooth, while others appreciate its helpful report formats. Meanwhile, those who left negative reviews dislike that it’s designed for a single user only and that they have to record their employees’ time manually.
User-friendly and helpful reports
One user who left a positive review of Financial Edge NXT on Capterra mentioned that he could find his way around the platform easily. He added that he and his staff can quickly pull reports in an Excel format.
Can’t keep daily time records and manual tracking
One user who shared a negative review of Financial Edge NXT on Capterra complained that there was no way to keep daily time records and that his HR staff has to enter time by the pay period manually.
Financial Edge NXT Frequently Asked Questions (FAQs)
How can Financial Edge NXT help me build trust with my stakeholders?
Financial Edge NXT uses advanced internal controls and automated workflows to help you prevent fraud, wasteful spending, and other negative behavior.
Is there a mobile app version?
No, there isn’t. Financial Edge NXT has no mobile app version, but it can be accessed from a mobile browser.
Does it provide training and support to new users?
Yes, it does. There are various kinds of training and support resources available for new users, including its Blackbaud University―an online support portal―online communities, downloadable guides, and how-to documentation.
Our Top Nonprofit Accounting Providers
In case you still aren’t sure if Financial Edge NXT is right for you, then this article on the best nonprofit accounting software is a review of our top choices. In this guide, we looked at a variety of solutions and narrowed our recommendations down based on pricing, ease of use, customer reviews, and key features like donor management, budgeting or forecasting, and A/R and A/P management.