FastFund Accounting: Accounts Receivable

Take Control of Your Finances

FastFund Online Nonprofit Accounting Accounts Receivable is seamlessly integrated with FastFund Accounting General Ledger and does not require transaction imports or reconciliation. Client activity is automatically posted to the General Ledger and client subsidiary ledgers.

• Create a list of clients with contact details to generate accurate reports and receivables.
• Set up four types of receivables per client to track different billing types and sources.
• Create client bills with user defined items and item classification and values.
• Manually enter grant receivables, if no bill is required.
• Apply payments against open client bills to maintain accurate payment records.

Keep a subsidiary ledger to for more detailed reporting of each accounts receivable account.

FastFund allows you to keep multiple Accounts Receivable control accounts, each with its own subsidiary ledger. This is useful if you have different sources of revenue and each has a separate list of clients for billing. Each client can have up to four receivable accounts to track different receivable sources for the client.

• Store client history for quick activity look-ups and reports.
• Create client bills to be printed or emailed. Print or email balance due statements to clients.
• Your organization will benefit from using FastFund Accounts Receivable by helping to manage your client bills and payments.
• Entering your bills in Accounts Receivable will help you manage your cash flow and track revenues.
• Apply payments to open client receivables in the cash receipts to automatically reduce the client balances.
• Mark client bills as recurring and set up a schedule to automatically post bills.

The Accounts Receivable system is used to maintain your financial activity on the accrual basis of accounting. Client bills are recorded in the period the revenue is earned not when the payment is received.

Client names are stored in the single names database. So if a client is also a donor, there is only one record to maintain for address and contact information. Generate one report with all financial activity associated with the name, including client transactions and donor transactions.

With the accounts receivable module, you can easily generate client subsidiary ledger reports including balance due statements, client transaction details, subsidiary ledger summary and aging reports.