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FE7 Vs. FE NXT.....What's The Deal?

Many people have been asking for a succinct list of the differences between FE7 and FE NXT.  So, I am going to attempt to provide to you such a list.  This list is not meant to be all encompassing of the differences and enhancements, nor is it static, as updates to the NXT environment are rolled out every other week.
 
  • True web based access.  Updated look, easier navigation, all record information on one screen instead of toggling between tabs.  This layout is customizable on the user level.
     
  • Increased security through two-step authentication.
     
  • Attachments:  In FE7 you are limited to the media tab only on certain records: Accounts, Vendors, Clients, Students, Fixed Assets.  With NXT you have the ability to link attachments to these and other records such as Batches, Invoices, and Deposits.
     
  • Batches work flow: 
    • We have enhanced the workflow for copying a batch.  Now, when you select More actions, Copy batch from an open, approved, or posted batch record, you are prompted to add a description and change the post date for the new batch. This streamlines data entry by eliminating the need to update each batch row individually.
    • We also enhanced the workflow for reversing a batch. Now, when you select More actions, Create reversing batch from a posted batch record, you are prompted to add a description and change the post date for the new, reversing batch to a single reversal post date. This streamlines data entry by eliminating the need to update the post date for each batch row individually. For more information, see Batch Record.
       
  • History of Changes dashboard. With this release, we added the History of Changes dashboard for SKY Reporting ™. It's important to periodically review information that is added or edited in your system. When records — such as accounts or vendors — are changed, you may want to track the changes and who made them. You may also want to review updates related to checks and bank reconciliation. For more information, see History of Changes Analysis.
     
  • Journal Entry Excel Add-In enhancement. The Financial Edge NXT Journal Entry Excel Add-In is an application built by Blackbaud and is available in Microsoft's Office Store as an add-in. With the application, you enter transactions in a Microsoft Excel spreadsheet which you can then submit as a new journal entry batch to Financial Edge NXT. This integration enables flexible data entry (in bulk) and saves time, especially when entering similar data.
     
  • Analysis:  To increase the impact on your mission and inform your next steps, it's important to keep your finger on the pulse of your organization's financial activity. With Sky Reporting ™, you can — at a glance — assess your organization's overall accounting performance and effectiveness. In Analysis, Dashboards, you can quickly assess your organization's financial efforts across several areas.
     
Manage Dashboards
Payables
Accounts
Projects
Transaction Codes
Metrics
History of Changes
Project Income and Expenses
Net Assets
Development Overview
Receivables

 
  • Credit card management:  By connecting your FENXT database to your credit card processor you can easily download credit card transactions directly into FE and manage them there.  This is currently in the Early Adopter phase and will be available to everyone soon
     
  • Bank Feeds:  Connect to your online bank account and download transactions that have cleared your bank account to electronically clear them against transactions in your bank register.  Allows for real time tracking of banking transactions.
     
  • Reports have added functionality: 
    • Now, when previewing a report you can drill down into the underlying detail.  Also, when you export to Excel, the formatting and data remains intact.  WYSIWYG.
    • We added automated date generation to all financial statement headers. This means the report header now pulls in the date based on your selection in the Subtitle field of report parameters automatically. For example, if you select "Today" or "This fiscal period," the corresponding date appears in the report.
       
  • SKY API ability to build integrations to other software platforms
     
  • Accounts Payable:
    • Functionality to copy a past invoice with the press of a button – This replaces the current ‘create recurring invoice’ function. 
    • Bulk invoice review and approval process
    • Ability from a Vendor record to initiate a VOIP call or email directly
    • Now, when you select Print checks from a bank account's Pay invoices tile, a list of approved invoices displays based on your selected date range. You can also view:
      • The bank account's current balance, as of today
      • The total amount of expected payments for the selected date
      • The bank account's remaining balance after expected payments are made
      • There is the ability to preview your check/EFT run prior to printing
You can also refer to these links for more information:
https://www.blackbaud.com/files/support/howto/fenxt/features/index.html 
https://www.blackbaud.com/files/support/helpfiles/fe/content/fe-whatsrecent.html

To hear more about recent enhancements and what is on the future roadmap:  https://hello.blackbaud.com/FENXT_ClientRoadMap_WSEM.html



 
Posted by Marc Seleman on Sep 12, 2017 5:09 PM America/New_York

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