Module 2 focuses on establishing the essential “set it and forget it” configurations that form the foundation of your organization’s FastFund environment. Before you begin entering transactions or building your chart of accounts, you must define the rules and security protocols for your system.
Here is a quick summary of what you will learn in this module:
Company Data & Accounting Preferences: You will learn how to set up your organization’s core details (like Tax IDs and addresses) and establish critical accounting rules, including defining your Fiscal Start Month, your Beginning Balance Date, and your transaction posting ranges.
Accounts Receivable Configuration: If you bill for services or track grants, you will learn how to create custom labels for your receivable control accounts (such as “Grants” or “Tuition”) to easily segregate and track different revenue streams.
User Security & Permissions: You will learn how to safeguard your financial data by creating authorized user profiles, assigning specific task-based permissions, and setting up User Groups for easier role-based access management (e.g., creating an “Accounts Payable” group).
Account Designators & Branding: You will explore how to set up Account Designators—essential tags required for generating your Statement of Cash Flow and allocating indirect costs—and how to upload your organization’s logo to customize your client bills and receipts.
By the end of this module, your company shell will be fully configured, secure, and ready for you to build your Chart of Accounts.