Module 10 is the culmination of your FastFund setup and daily data entry. It focuses on extracting meaningful data from the system to help you analyze your financial health, satisfy strict reporting requirements for funding sources, and present clear financials to your Board of Directors.
Here is a quick summary of what you will learn in this final module:
Standard Reports & Registers: You will learn how to navigate FastFund’s built-in reports, including generating Trial Balances, General Ledger Activity reports, and Control Account Registers to review detailed transaction history and source journals.
Financial Statements & Budgets: You will explore how to run FASB-compliant financial statements (such as the Statement of Activities, Statement of Financial Position, and Statement of Cash Flow). You will also learn to generate Budget Comparison reports to track your actual financial performance against your planned goals.
Subsidiary Ledgers (AP/AR & POs): You will discover how to track outstanding vendor and client balances by running detailed subsidiary ledgers, aging reports, and balance due statements to help you effectively manage your organization’s cash flow.
Custom & Restricted Reports: You will learn how to use the Query Builder to extract specific, highly targeted data lists (like a specialized mailing list). Additionally, you will learn how to set up Restricted Reports so specific users, like Program Directors, can only view the financial data relevant to their specific department or grant.
Financial Reports Set Manager: You will learn how to customize the presentation of your financial statements without altering your underlying Chart of Accounts. This powerful tool allows you to consolidate funds, group cost centers, and summarize accounts into single line items, enabling you to create simplified, tailored reports for different audiences.
By the end of this module, you will be fully capable of generating both standard and highly customized financial reports, ensuring complete transparency, compliance, and accountability for your nonprofit organization.