The Financial Post

Hello and welcome to The Financial Post for October 2023!

On the first Thursday of every month, we bring you the latest Blackbaud Financial Edge NXT® news on everything from current projects and initiatives to release information and much more!

If you haven’t had a chance to read last month’s edition of The Financial Post, you can check it out here.

In This Issue

This month's post features these topics:

• What’s New
• What’s Next
• Total Web Solution Journey
• Reporting Webinar
• bbcon

We recently released several new features in Financial Edge NXT web view!

Manage tags for financial reports. Under Reporting, you can now add and manage tags in web view. Use tags and categories to organize, filter, and manage details for your financial reports based on General ledger, Payables, Treasury, and Fixed assets. Also, tags added through web view now display as filter options.

Grant activity tile. Use the Activity tile on the grant record to view all project and transaction code activity associated with the grant. From this tile, you can view total revenues, expenses, gains, losses, gifts, transfers and adjustments for a fiscal year. You can filter activity by regular, encumbrance, and fiscal year.

Default accounts in Fixed Assets. You can now set up default accounts in Fixed Assets web view. Default accounts provide flexibility in designating accounts for particular transactions. Some of you already see these changes, and some will see these updates in an upcoming wave.

Flat amount line items. You can now add default flat amount line items (formerly miscellaneous line items), such as freight charges and local sales taxes, to quickly select them when you create purchase orders in Financial Edge NXT. We're releasing these updates in waves. Some of you already see these changes, and some will see these updates in an upcoming wave.

Fixed Assets Business Rules. You can now manage General business rules for Fixed Assets in web view. Business rules help you customize standard procedures and requirements. We're releasing these updates in waves. Some of you already see these changes, and some will see these updates in an upcoming wave.

Payables Business Rules. You can now manage Payables business rules in web view. We're releasing these updates in waves. Some of you already see these changes, and some will see these updates in an upcoming wave.

What’s Next

We are currently working on several features and enhancements for Financial Edge NXT web view. Here are some of the updates you will see in upcoming releases:

Import Invoices — To save you time during data entry, you will soon import Payables invoices in web view.

NOTE: This first iteration will support adding invoice records through import. Look for the ability to add and edit invoice records in bulk, including 1099 distributions, in a future release.

Business Rules — You will soon manage all your Payables and Fixed Assets business rules in web view. Business rules help you customize standard procedures and requirements.

Treasury — We’re introducing updates to Treasury's deposits and Miscellaneous (Misc.) Payments in Financial Edge NXT in the coming weeks. Misc. Payments replaces Cash Receipts in the database view, so you'll no longer have access to those records there. Bank accounts, credit card accounts, and Treasury reports are not impacted by these changes and customers with Accounts Receivable are not part of this release.

Bank Feed (Yodlee) — We are upgrading our Yodlee/Fastlink APIs in Financial Edge NXT to improve performance and offer a better user experience. This upgrade also supports open banking.

Receivables – Receivables will be offered as a read-only Preview. We'll monitor your feedback and make improvements as we prepare for general availability.

Total Web Solution Journey

As Blackbaud Financial Edge NXT shifts to a total web solution, we're moving the following features from database view exclusively to web view over the next several months:

Since we release in waves, you may receive the updates immediately or in a future release. To track details and timelines, bookmark the Total Web Solution page.

NOTE: To keep you informed of upcoming changes, we will periodically display a Review total web solution features screen when you log in to Financial Edge NXT listing upcoming features that are moving to web view.

Financial Edge NXT Reporting: Measure and Optimize Your Financial Performance
Thursday, October 12, 2:00 PM

Interested in improving efficiency and optimizing your financial performance in Financial Edge NXT? During this session, we will:

• Tour the Reporting module
• Review the reports available in web view
• Discuss standard financial reporting package: Balance Sheet, Income Statement, and Statement of Cashflow

bbcon

Hosted by Blackbaud, bbcon brings together the Blackbaud community annually to share, learn, inspire, and innovate. After three years of meeting virtually, we’re bringing bbcon back in-person October 22-24 in Denver!

Join us for three days of unmatched networking, the latest in innovation and industry trends, and inspiring keynotes. Register today!