We are considering converting to the Finanacial Edge but have heard of a few problems. These may have been resolved with updates. I would like to know what problems were found and were they fixed with a later version. We are specifically interested in AP and Student billing.

We have generally been pleased with the Financial Edge. The reporting was improved considerably. However, there is one problem that has become very significant to us that has not been addressed. The Financial Edge does not allow negative distributions in modules such as cash receipts and accounts payable. This has caused us a lot of trouble, and has damaged the quality of our documentation and audit trail. To give an example, if we have a credit on a health insurance bill that causes the amount distributed to one department to be negative, we cannot handle that through a/p with an appropriate audit trail. We have to combine that department with another to process the invoice and prepare a separate journal entry to correct the distribution.

Have you tried using Misc Entries? It allows you to enter essentially a journal entry right on the invoice record, thus being able to create a negative amount. Also you can do it in combination with an ajdustment to the invoice. Is available in both a/p and a/r.

In our experience, the misc. entries feature does not create an adequate audit trail. It does not appear on the pre-check report, which we use to approve a/p.