Prepaid Expenses in Expense Management

MckenZie Walker
MckenZie Walker
Third Anniversary Name Dropper Participant Facilitator 1
in Blackbaud Financial Edge NXT® General Discussions

We are looking for a way to allow users to put the expense category on their invoice request, but then hold that expense in prepaid until it is time to recognize it!

Comments

  • Lisa Olscamp
    Lisa Olscamp
    Seventh Anniversary Kudos 2 August 2025 Monthly Challenge Badge Name Dropper

    @MckenZie Walker it is possible to set that up like any other category in expense management. The tricky part might be the staff education as to when it is appropriate to use prepaid vs their normal expense category or keeping the prepaid reconciled depending on the volume of use.

  • MckenZie Walker
    MckenZie Walker
    Third Anniversary Name Dropper Participant Facilitator 1

    @Lisa Olscamp
    Thank you Lisa! The thing is I want to know the expense category that they ultimately want it to go into. So I don't want to make a prepaid expense category.

  • Sylvia Cook
    Sylvia Cook
    Sixth Anniversary Kudos 5 Name Dropper Participant

    @MckenZie Walker I would do as Lisa said, set up an expense category going to prepaid, but then ask the user to put the expense category that it needs to go to in the description so you can see it. If are set up to post the description line in the GL then you will see the expense category name when you run a report on the prepaid ledger.

  • Debra Beckers
    Debra Beckers
    Name Dropper Facilitator 1

    @MckenZie Walker Oracle had this exact option. You would name an event and attach a date to it. When you are working on closing out the month then you would run a process that moved prepaid expense from the balance sheet to the expense account on the P&L. Very easy and ensured to have items move in the proper months. It would be great to have this option in Blackbaud. We are currently tracking in Excel. It would be so great to have it automated.

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

    @Debra Beckers
    I nominate you to submit this idea to Blackbaud! I love it!!

  • Debra Beckers
    Debra Beckers
    Name Dropper Facilitator 1

    @Susan Trippe I see there is a request already submitted.

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