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Advanced Accounting Features — Standard in FastFund Nonprofit Accounting

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FastFund Accounting has a user defined chart of accounts that allows you to create 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.

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 Statement of Cash Flow. All reports can be run with comparative periods, run crossing fiscal years and for any time frame. Reports can be generated rounded to the nearest dollar.

Generate all the data you need to complete IRS Form 990 N, 990-EZ and 990.

Customize and memorize financial statements and budget reports for both internal and external reporting. Create an unlimited number of report sets and limit access to specific sets by user rights. Sets can be used to consolidate funds, programs and all line items on your reports. You can choose to group totals or display individual items with subtotals.

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's actual amounts and prior year's budget amounts. Generate budget comparison report for current period, year to date and across fiscal years.

The Bank Integration feature automates the transfer of your bank data from your financial institution accounts into FastFund Online. Araize has partnered with Plaid for the Bank Integration and uses Plaid’s secure connection application to access your bank using your authorized account information log on to securely link to your financial institution data.

Bank Integration retrieves bank data daily to ensure that everything in your bank account is reflected in FastFund Online. Using the Batch Processing functionality, transactions can be reviewed and edited, then posted to your bank accounts to aid with the bank reconciliation process. This process eliminates the manual effort of importing and matching your banking data in FastFund Online.

This Bank Integration enables you to:

  • Connect FastFund Online to multiple financial institutions that operate in the following countries:
    North America (Canada and the United States)
  • Cleared and processed bank transactions are automatically uploaded to Batch Processing from your financial institution accounts.

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.

 

I've been in software development for 35 years, and I just wanted you and your staff to know that I think the Araize software is some of the best software I've ever used. The user interface is straightforward and easy to use and understand, it has a nice clean look, and it has a ton of features. It's obvious that your designers understand user-centered design! Your report writer is also really robust and flexible. It is a pleasure to use this software on a regular basis. I think this software is top notch.”

Alice Black
Off the Chain USA

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