‘Tis Nobler To Budget With Financial Edge NXT

Annie Wilcox

To budget or not to budget – that is not a question. Budgeting is an integral part of maintaining a financially healthy organization. Budgets help evaluate the current financial status of your organization and plan for its future. Without a budget, you lack control of your organization’s financial status and long-term goals – a tragedy on par with Shakespeare.

Budgeting is a multi-step process that begins with reviewing your organization’s financials from past fiscal years. With a variety of reports, Financial Edge NXT makes it easy to analyze past performance. If you are new to building a budget, you will want to set a due date and determine how much time you will need to review and discuss the budget with your colleagues.

When building a budget, you must consider the goals of your organization, as well as your financial constraints. Once you have reviewed your past performance and determined your goals, you can begin creating a budget. Financial Edge NXT has a wide array of budgeting tools that allow you to create a budget from scratch or copy budgets from previous years. With the Microsoft Excel Budget Creator add-in, you can even upload a budget from a worksheet into the system. Budgeting is easy with Financial Edge NXT.

After you have completed your budget, it is time to get it approved. Your policies and procedures will determine the approvals you need to finalize the budget. But be not afraid – finalized budgets can be adjusted. Once the budget has been approved and finalized, you can implement it. All is well when you budget well in Financial Edge NXT.

Building Budgets in Financial Edge NXT

Blackbaud’s Financial Edge NXT software is innovating the way that social good organizations build and maintain their budgets. Explore the budgeting process and Financial Edge NXT’s most up-to-date budgeting tools, with our newest 90-minute course, Budgets, available on this Learning Path.

Practice creating, finalizing, and adjusting budgets. Learn about the latest budgeting functionality in Financial Edge NXT. Leave class with the confidence to use Financial Edge NXT from start to finish in your budgeting process.

This course is included with your Learn More training subscription. Not a subscriber? Chat with us now to find out how you can become one!