Amortization/Accrual Schedules

Derrick Snyder
Derrick Snyder
Name Dropper First Anniversary Facilitator 1
in Blackbaud Financial Edge NXT® General Discussions

I am new to Blackbaud and have ventured around quite a lot but recently the entire department has left my company. In a previous role at a different company, I could set up Amortization and Accrual Schedules for the entire year. So as I received new items that would be scheduled throughout the year, I could create the entire year with one entry and at the beginning of the year. Is any of this possible in Blackbaud NXT. Any advice would be greatly appreciated. Thank you.

Comments

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

    @Derrick Snyder
    If you're doing this inside FIxed Assets, you can make a whole year of depreciation at one time for any / all assets. You choose the day to calculate the depreciation through , and FE checks each asset and looks at it's accumulated depreciation and catches it up to the day you enter when calculating. IF you're doing this manually on each asset, you can do period, annual depreciation transactions as well. If you want 1 for the whole year, then annual deprceciation would be the one to use.

  • Derrick Snyder
    Derrick Snyder
    Name Dropper First Anniversary Facilitator 1

    @Kevin Brazell I was talking more along the lines of making an entry that will hit each month but has the entire schedule located in one place. I use to be able to do this in Sage Accounting software, and it was amazing to have amort/depreciation schedules for the whole year calculated without having to post a “subledger” or reg journal entry each month.

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

    @Derrick Snyder
    Then you would do just a single JE. You can have different post dates in a single entry. YOu just have to make sure they balance by fiscal period otherwise, FE won't let it validate / post.

  • Derrick Snyder
    Derrick Snyder
    Name Dropper First Anniversary Facilitator 1

    @Kevin Brazell is there a setting that we have to turn off/on. We tried this once and it won't let us post outside of say 2 months into the future.

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

    @Derrick Snyder sounds like your fiscal periods are soft closed. YOu'd have to go to the fiscal year and make sure each period is fully open and not soft closed. That prevents you from posting into it.

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