Module 6: Fundraising Transaction Processing explores the core of a development office’s daily operations: accurately entering and managing financial transactions. The module begins by introducing FastFund’s strict transaction entry rules designed to protect data integrity, such as requiring gift splits to balance perfectly, ensuring donations are linked to active appeals, and utilizing an Undeposited Funds holding account to temporarily stage incoming cash before it hits the live bank account.
A major focus of the module is hands-on data entry for various types of contributions. Users learn the identical, intuitive workflows for recording tax-deductible Cash Gifts and non-deductible Cash Receipts, as well as how to split single checks across multiple gift designations, assign solicitor credits, and record tribute information. The module also covers how to track promises to give by creating Pledges, applying incoming Pledge Payments directly to open balances, and safely clearing uncollectible commitments using Pledge Write-Offs (credit memos). Additionally, users learn the proper procedure for recording non-cash In-Kind Donations at fair market value to maintain strict FASB-116 compliance.
Finally, the module teaches users how to group their daily entries and execute proper donor stewardship. Users learn to select individual receipts from the Undeposited Funds account to process a Bank Deposit that perfectly matches their physical bank slip. To conclude the donation cycle, the module shows users how to process the To Be Printed and To Be Emailed queues to generate customized donor receipts. FastFund automates this process by generating PDF receipts, executing mail merges, and instantly applying an “Acknowledgment Sent” audit trail to the donor’s profile.