Nonprofit Accounting Software
FastFund Online Nonprofit Software Solutions provide cloud-based payroll, fund accounting, and fundraising.
Because it is modular in design, FastFund modules can be purchased individually and are seamlessly integrated. FastFund provides an easy and affordable online way to help your organization become more accountable to your funding sources.
FastFund online nonprofit accounting software is a true nonprofit fund accounting software system that meets the specialized requirements of nonprofit organization.
FastFund nonprofit accounting is the heart of the FastFund cloud-computing software system that seamlessly integrates with accounts payable, accounts receivable, cost allocations, fundraising and payroll. Its single database structure eliminates the multiple data files for the companies and individuals you do business with, improves productivity and reduces data entry time and errors. You will save time and money generating the reports you need for internal and external reporting and be better prepared for audits. FastFund accounting software is not a software purchase; it is an investment in the future wellbeing of your organization.
Customized Chart of Accounts
FastFund Accounting has a user-defined chart of accounts that allows you to define an account structure that mirrors your organizational structure. Based on a table driven format, there are six account segments representing funds, programs, funding sources, departments, sites, and accounts.
FASB Compliant Financial Statements
As a nonprofit organization you can’t afford to jeopardize funding by failing to present reports that meet the strict reporting requirements of funding sources and government agencies. FastFund generates audit ready, FASB compliant financial statements including the Statement of Activities and Changes to Net Assets, Statement of Financial Position (Balance Sheet), Statement of Activities (Revenue and Expense), Functional Expenses and Fund Balance Reports. All reports can be run with comparative periods, run crossing fiscal years for any time frame. Reports can be generated rounded to the nearest dollar.
IRS Form 990 – Generate all the data you need to complete IRS Form 990 N, 990-EZ, and 990.
Cash Disbursements – Checks for expenses can be entered manually, or can be set up to be printed. All other bank debits can be entered through cash disbursements for multiple cash accounts.
Automated Reversing Entries - Transaction can be marked as reversing for accruals to write-off old checks or invoices. Internal controls and audit trails are built to track and link reversing entries.
Budgets - Create budgets for each of your grants, departments, programs and funds with automatic roll-up for funds and organizational totals. Export and import budgets from spreadsheets. You can create multiple budgets for a fiscal year to track major budget revisions. Lock-in budget amounts for strict internal controls. Automatically create new budgets from prior year budgets. Generate budget comparison report for current period, year to date and across fiscal years.
Automatic Fund Balancing - FastFund Accounting is a true fund accounting application with the ability to set up multiple funds. Each fund is treated as its own entity within your organization, with separate trial balances and financial statements. All inter-fund transactions automatically create a fund balancing entry to keep your funds in balance. You can print a detailed audit trail of all fund balancing entries and source entries.
Cash Receipts – All cash receipts can be entered through FastFund Accounting, without the need for additional modules. All cash transaction are grouped for deposits and posted in total to the cash account. Also, a detail deposit report can be printed and attached to your bank deposit slip. Multiple cash accounts can be created.
Automated Recurring Entries – Entries can be marked as recurring and scheduled for automatic posting on specific dates. Recurring transactions can be edited after posting, saving, data entry time and streamlining procedures.
Data Import - Import vendor, client and other names for a quick start up. Data verification ensures data validation before import is complete.
Bank Reconciliation - Easy to use bank reconciliation lists all deposits and other bank ‘credits’ separately from checks and other bank “debits.” Mark all and unmark all features speed up the reconciliation process. Record bank adjustments directly in the bank reconciliation function. Print a reconciliation worksheet for review. All reconciliation reports are saved for future printing. You can even revert a bank reconciliation, if it needs to be adjusted.
Multiple Year-End Close Entries - Whether you have one fund or a thousand funds, each fund’s excess or deficiency is closed out to its own net asset (equity) account.
Internal Controls - All data entered, edited or deleted in the system is tracked by user. Soft close the books to prevent entries by non-administrative personnel. Permanently close the books to prevent all users from posting transactions. Strict internal controls prevent the editing or deleting of linked or cleared transactions.
Financial Technologies & Management will be there to assist you throughout the entire process. We’ll help you evaluate, select, implement, and deploy your system in a logical and practical way that eliminates unpleasant surprises or delays. We work solely with nonprofit organizations and government agencies and districts, bringing a comprehensive understanding of technology, software, and your unique accounting challenges.
Contact us today to find out about Araize FastFund Online Nonprofit Software Solutions.