Lesson 7.5 – Editing Transactions and System Controls

Welcome to Lesson 7.5! One of the most versatile features of FastFund Raising is the ability to modify transactions after they have been recorded. Correcting an error in a posting does not negatively affect the audit trail of the original transaction, but FastFund does employ strict system controls to ensure your data remains balanced and accurate.

In this lesson, we will explore how the transaction entry screen is structured for editing, the internal control rules that restrict modifications, and the step-by-step process for editing an existing record.

1. The Structure of a Transaction Screen

When you open an existing transaction to make a correction, you must understand how the data entry screen is divided. The FastFund Raising transaction entry screen is split into two primary areas:

• The Transaction Area: The top portion of the screen, which contains the core financial data (Type, Donor, Date, Reference, Amount).
• The Distribution Area: The bottom portion of the screen, which contains the specific allocations (Appeal, Gift, Deductible, Solicitor, Tribute, and Soft Credits).

If a transaction is not linked to any other transaction, you have full freedom to modify both areas of the record.

2. Internal Controls and Editing Rules

To maintain data integrity and strict audit trails, FastFund Raising applies specific rules to transactions that are linked to other financial activities. In a linked transaction, the specific fields that you are no longer permitted to edit will be grayed out.

The system enforces the following editing rules:

• Deposited Receipts: If a cash gift, cash receipt, or pledge payment has already been included in a processed bank deposit, you cannot edit the undeposited funds account, the donor name, or the total amount. You can still edit the date, the reference, and the distribution area.
• Paid Pledges: If a pledge has been paid or partially paid, you cannot edit the pledge receivable account, the donor name, or the total amount. You can still edit the date, reference, and the distribution area.
• Reversing Entries: You cannot directly edit a system-generated reversing entry. However, if you edit the original entry, the reversing entry will automatically be updated to match.
• Closed Periods: Transactions cannot be modified if they are dated in a closed accounting period.

Note: The rules that restrict editing also apply to deleting transactions. If a transaction is linked or in a closed period, you will not be able to delete it.

3. The Audit Log

Whenever a transaction is entered, updated, or deleted, FastFund’s Audit Log tracks the activity for internal control purposes. Available only to the Company Administrator, the Audit Log identifies exactly which user modified the information, the date of the modification, and the IP address where the user logged in, ensuring complete transparency and accountability for all financial edits.

4. Steps to Edit a Transaction

To modify an existing entry, you must locate it within its respective Control Account Register.

Steps to Edit:

1. Navigate to Transactions on the Main Menu, and under the REGISTERS section, click on Transaction History.
2. Enter the Date Range for the transaction.
3. Select the appropriate control account from the Account drop-down list (e.g., Undeposited Funds for cash gifts, or Pledge Receivable for pledges).
4. Click Filter to display the transactions.
5. Scroll through the register list to find the specific transaction. You can use the additional filter fields (like Reference or Name) to narrow the results.
6. Once located, click the Magnifying Glass icon next to the transaction date to open the transaction window.
7. Make your necessary corrections in the available fields.
8. Click SAVE to finalize your edits.