Lesson 3.3 Activity
- Audit Your Account Segments: Review your organization’s established Chart of Accounts. Identify how many of the six available segments your nonprofit utilizes (e.g., Fund, Cost Center, Object Code) so you are prepared to build out your salary allocations later.
- Verify Required GL Accounts: Log into FastFund, navigate to your Chart of Accounts, and verify that all necessary Gross Salary expense accounts and Payroll Tax Withholding liability accounts have been created and are marked as “Active.”
- Verify Tax Payees: In FastFund Accounting, navigate to the Other Names entity list. Verify that the “US Treasury” (or IRS) and your specific State Department of Revenue have been created as payees, as you will need to link these to your tax tables in the next lesson.