Key Product Features in The Financial Edge
The Financial Edge is a comprehensive financial management solution designed specifically for nonprofit organizations. Built on thousands of suggestions from a diverse range of nonprofits, it gives you the accountability, flexibility, and intelligence you need to ensure your organization runs at peak efficiency.
The core component of The Financial Edge: All transactions flow from other modules into General Ledger’s accounts and projects.
This means you can easily track and report from multiple perspectives and access critical information to guide your strategic planning. With the customizable General Ledger as its foundation, you can demonstrate fiscal responsibility to your donors and transform your information into decision-making power.
Print low-cost, high-quality forms on blank paper using a laser printer. An alternative to purchasing pre-printed stationery for checks, invoices, statements, purchase orders, envelopes, labels, dunning letters and other correspondence, this module integrates with many of Blackbaud’s accounting products. It tells your printer where to print graphics, lines and text, and you can even include your logo. Multiple formats are available for many types of forms.
Make payments any way you want — by system-generated or handwritten check, bank draft or electronic funds transfer (using Blackbaud’s Electronic Funds Transfer module). Accounts Payable makes paying bills easier and more efficient, even allowing you to define multiple electronic signatures based on check amounts.
Schedule a sequence of tasks that can be executed, one after the other, automatically and unattended. Using Accounting Queue is easy — simply add tasks to a queue and schedule it to run whenever you want, even overnight or over a weekend! By automating common tasks, Accounting Queue frees up your time, so you can concentrate on more important work.
Separately track individual clients, organizations and funding sources. Accounts Receivable provides the ability to establish default payment responsibility for each client record, enabling you to bill a third party for a portion, or all, of a client’s charges and services rendered. You can also apply one payment (whether cash, check, or credit card) to multiple client accounts and draft automatic payments from a specified bank account (using Blackbaud’s EFT™module).
Advanced Budget Management™
Take advantage of powerful budgeting, in-depth analysis and reporting features that replace spreadsheets and cumbersome, error-prone tools used outside the system. Perform payroll budgeting, including salary and benefits, on a per-employee basis. Execute driver-based planning by using parameters and costs that “drive” your organization. View line item budget details and notes for details of budget assumptions that make up the overall account budget.
Set full security on accounts, projects, reports, and queries. Your system administrator or staff member with supervisor security rights can give or deny user rights to specific information so it does not appear on an unauthorized user’s search screen or in any reports that user creates. Advanced Security also offers view-only licenses, putting timely financial information in the hands of individual budget, department, and program managers — while still protecting confidential information and without incurring the cost of full user licenses.
Automatically allocate amounts by account, account attribute, project, project attribute, transaction code, and/or transaction attribute. Allocation Management provides mechanisms for both direct and indirect allocations, as well as reallocations based on ending balances, average daily balances, or net change balances, eliminating the need for external spreadsheets. Define your investment pool and add projects to it, specifying the asset accounts that make up the project’s portion of the pool, and let the system do the rest! You can even account for fixed amount and percentage fees based on each project’s asset balance.
Application Programming Interface (API)™
Integrate other systems with The Financial Edge, helping to ensure efficiency and data integrity by eliminating the need to re-key financial data from other third-party systems.
Budget as many years into the future as needed so your organization can prioritize its expenditures, assess its funding needs, and make comparisons across fiscal years. You can configure budgets created at the project level to automatically change existing account budgets and create multiple “what if” budget scenarios for planning purposes and to measure the impact of change.
Manage multiple bank accounts with advanced features to make payment adjustments, account activity, and bank reconciliation easy. For each account, you can view an electronic register listing all deposits and disbursements, drilling down to view additional details. Plus, automated reconciliation features ensure you start balanced and stay balanced.
Identify where small cash amounts originate, produce a detailed profile of each transaction, and print a deposit ticket with this flexible receipt entry module. It handles the small details that can clutter a ledger, such as postage meter money and vending machine revenue.
Report across multiple databases from one central database. Whether your organization is reporting on multiple chapters, foreign or domestic subsidiary offices, headquarters, or outreach operations, Consolidation Management automates the “roll-up” of financial data, letting staff easily and efficiently consolidate and report on financial information across separate databases.
EFT™ (Electronic Funds Transfer) for Accounts Payable and Payroll
Save time and labor involved in printing and mailing checks and automate periodic drafts from your bank account for direct deposit into employee bank accounts. Making payments is as easy as selecting the invoices you want and then sending to the bank a file containing those transactions via phone or the Internet. And it's just as easy to keep a clear audit trail with EFT as with other payment methods.
F9 for The Financial Edge is a powerful, easy to use reporting tool that dynamically links general ledger data to Microsoft Excel®. Leverage business intelligence reporting including KPIs and dynamic formulas and publish web based reports and dashboards directly from Excel.
Store all the information your organization needs to properly track and manage your property, plant, and equipment. The system calculates depreciation based on built-in IRS formulas and tables, or on custom depreciation schedules you enter, to meet specific needs. Other features enable you to print scannable bar code labels to expedite asset inventory, automatically remind yourself of scheduled maintenance, and even view a picture of the asset from inside the program.
Automate the process of imaging and storing source documents in The Raiser’s Edge® and The Financial Edge. PaperSave provides a complete and secure electronic storage system and audit trail for all your source documents, completely eliminating the inherent inefficiencies and risk of loss associated with traditional paper filing systems. It seamlessly integrates with The Raiser’s Edge and The Financial Edge, providing high-level security for each transaction, donation, or record.
Simplify your payroll administration and human resources procedures. Payroll makes your in-house payroll process a timely and cost-effective alternative to outsourcing. Designed to reflect current employment trends, this sophisticated, yet easy-to-use system accommodates incentives offered in today’s workplace — flexible work schedules, complex benefits packages and much more.
Project, Grant and Endowment Management™
Get an extra level of tracking, making it easy to separate and report on activity for various projects, special events, endowments, exhibitions, scholarships, investments, and other entities without exploding the number of accounts in your system. With other accounting systems, adding a project often means adding numerous accounts with new segment values to your chart of accounts, which can waste time and clutter your chart of accounts. By tracking transactional and budgeting data at the project level, you can easily create reports to satisfy your board members, auditors, and donors within minutes.
Take advantage of a variety of options for recording purchases, tracking encumbrances, and generating invoices from receipts. You can track the complete order process, from the initial requisition through the entry and printing of purchase orders, to the recording of merchandise when it arrives, and the generation of accounts payable invoices. Purchase Orders also enables you to track supply and shipment needs, as well as costs.
Raiser’s Edge™ Integration
The Financial Edge’s built-in interface with The Raiser’s Edge helps your business office operate more efficiently and protects the integrity of your data. Stop importing files — The Raiser’s Edge pushes financial information directly to an open Financial Edge journal entry batch. Link gift records in The Raiser’s Edge to account balances in The Financial Edge for a tight audit trail and simple, straightforward reconciliation. Access revenue and expense allocation information for a fund in The Raiser’s Edge.
Visual Basic for Applications (VBA)™
Tweak your system to mirror your organization’s policies and procedures. VBA is the premier development technology for rapidly customizing applications and integrating them with existing data and systems. With it, you can design specific business rules or customized data entry screens to further meet your unique organizational needs.
By taking processes online using WebInvoicing, you will realize a significant reduction in associated costs. WebInvoicing is intuitive, scalable, and easy to deploy. The end results are fewer costs, reduced time spent off task, greater visibility to spending and trends, and improved compliance with your organization's spending policies and regulatory compliance.
WebPurchasing for The Financial Edge streamlines the purchasing process by managing everything electronically. Its automated requisition system is designed to keep you on budget while ensuring your organization’s policies and procedures are followed. And because WebPurchasing brings the requisition and approval process online, it gives users and reviewers a central place to request items and approve purchases. It provides user-friendly navigation, so searching for products is quick and easy. At the same time, it gives you an efficient approval process that can be customized for your organization.