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.
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.
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.