This is the Blackbaud Community Best Practices blog.

Using Transaction Codes In Financial Edge

Like many nonprofits, our operations are divided into multiple departments.

In Financial Edge, we give each one a 4-digit “Project ID” so we can track revenue and expenses to their respective source.

However, we have one department that manages multiple activities that each have their own, stand-alone costs, and the department manager wanted the ability to track these within her overall department budget.

Our solution is to use the Transaction Codes or “T-code” feature in FE (part of the Projects and Grants module), allowing us to assign both a Project (department) and T-code (specific activity) to each transaction. We can then run reports for individual T-codes, for any combination of T-codes, for no T-codes, or for the entire Project code regardless of T-code.

It’s taken some coordination between the department manager and the finance team to make sure every transaction gets its appropriate T-code, and we’ve discovered it’s more practical not to use a T-code for general department activities. But, we just closed the first fiscal year using this method and it has made the department manager’s job much easier! 

(Community Manager's Note: This is a blog entry into our Summer School contest. It has not been vetted by the Financial Edge team for accuracy.)
Posted by Jared Hammond on Jul 24, 2017 11:50 AM America/New_York

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Nice to know that ya'll are using TCodes in such a way
  • Posted Tue 03 Apr 2018 11:51 AM EDT