Lesson 4.3: Adding Clients and Other Names

In FastFund Online, managing the people and organizations you interact with is handled through specific entity types. While Vendors are used for Accounts Payable, this lesson focuses on Clients (used for Accounts Receivable) and Other Names (used for basic cash-basis accounting). Understanding when to use each type is critical for maintaining accurate subsidiary ledgers and preventing database clutter.

Clients (Accounts Receivable)

If your organization uses the Accounts Receivable module to bill for services, tuition, or grants, you must set up Clients. By recording a client bill at the time service is incurred, you are using the accrual method of accounting, which provides a more complete financial picture.

Key Client Setup Requirements:

• AR Control Account: Each client must be linked to at least one Accounts Receivable (AR) Control Account. Only accounts designated with the Account Type “Receivables” can be linked. FastFund allows you to link up to four different AR control accounts to a single client (e.g., distinguishing between “Tuition,” “Room & Board,” and “Grants”).

• Client Number: A unique code (up to 11 characters) used to identify the client.

• Business Info: You can define specific Payment Terms (e.g., Net 30), Credit Limits, and a Default Revenue Account to streamline billing data entry.

Other Names (Basic Accounting)

Other Names are used for individuals and organizations that do not fit into the specific categories of Vendors, Clients, Employees, or Donors. They are primarily used for:

1. One-time transactions: Recording manual checks or cash receipts where no invoice tracking or subsidiary ledger is required.

2. Payroll Liabilities: If you use FastFund Payroll, the payees for tax agencies (e.g., IRS, State Dept of Revenue) are stored here.

Unlike Clients or Vendors, “Other Names” do not have a subsidiary ledger (aging report). They are strictly for cash-basis transaction recording (Cash Receipts and Cash Disbursements).

The “Existing Entities” Feature

A powerful feature of FastFund is the shared entity table. A single person or organization can play multiple roles (e.g., a “Client” can also be a “Donor”). To prevent duplicate names and addresses in your database, you should always check if the name already exists before creating a new record.

Adding a Name from an Existing Entity: When clicking New (+) to add a Client or Other Name, select the Existing Entities tab (or “New from Existing Entity”). This allows you to select a name already in your database (e.g., a Vendor) and create a Client record for them. This links the records so they share contact information like address and email, ensuring your database remains clean and efficient.