Lesson 3.2 Activity
- Verify Your Cash Account: Log into FastFund with Company Administration rights. Navigate to Administration > Payroll Setup and open the Payroll Settings tab. Click the Default Cash Account drop-down and verify that your nonprofit’s operating or payroll checking account is visible and selected.
- Determine Your Accrual Method: Review your organization’s employee handbook. Determine if your staff earns PTO based on the exact hours they work (Accrual Factor) or if they get a set amount of time per paycheck (Fixed Amount).
- Set Default Accrual Factors: In the Default Vacation Accrual Factor and Default Sick Time Accrual Factor drop-downs, select the default calculation factor that applies to the majority of your staff (e.g., 0.0384 for 80 hours a year).