Clear Transactions Electronically

Wendy Johnson
Wendy Johnson
Second Anniversary Kudos 1 Name Dropper Facilitator 1
in Blackbaud Financial Edge NXT® General Discussions

“Clear Transactions Electronically” is a function I use currently in the database and I have not seen it available in NXT yet. It is under Banks, and then Cash Management Tasks. Will this be made available in NXT in the future?

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  • Kevin Brazell
    Kevin Brazell Blackbaud Employee
    Tenth Anniversary Kudos 5 First Reply Name Dropper

    @Wendy Johnson
    Bank Feeds by Yodlee replaces this function in Webview.

  • Wendy Johnson
    Wendy Johnson
    Second Anniversary Kudos 1 Name Dropper Facilitator 1

    @Kevin Brazell Can you explain this more? Where do I find this?

  • Kevin Brazell
    Kevin Brazell Blackbaud Employee
    Tenth Anniversary Kudos 5 First Reply Name Dropper

    @Wendy Johnson Manage Bank Feeds

  • Susan Trippe
    Susan Trippe
    Fifth Anniversary Kudos 4 Name Dropper Participant

    @Wendy Johnson
    It's available in NXT but I wouldn't recommend using it. It has some serious problems with inaccuracy…clearing the wrong transactions.

  • Paul Wu
    Paul Wu
    Sixth Anniversary Kudos 2 Name Dropper Facilitator 1

    @Susan Trippe So how do you do the bank rec with NXT? At the moment we are still doing bank rec's via the database mode. We are waiting for are refresh of production to our test environment to test out the bank feed.

  • Susan Trippe
    Susan Trippe
    Fifth Anniversary Kudos 4 Name Dropper Participant

    @Paul Wu
    The automatic clearing worked fine until about 6 months ago. When it started making so many mistakes, I had to start manually clearing everything. Once I've cleared everything, I am then able to do the reconciliation in FENXT. I've actually always hated the bank rec part of NXT for my large operating account. It works fine for small accounts with limited activity. For my large account, I normally complete a bank rec manually in excel and then when I've figured everything out, I “do” the bank rec in FENXT. I know that's not ideal, but it's the lesser of two evils, so I've gotten used to it. The recent issue with the automatic transaction clearing is a huge pain that support has not been able to help me with. I opened a case in February, and no progress was made. I let them close the case while I'm busy closing my year and getting through the audit, then I'll reopen the case and try to get it resolved.

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