About FastFund Nonprofit Fund Accounting


FastFund Nonprofit Fundraising performs fund accounting operations for nonprofit organizations. The system’s modules include fund accounting, accounts payable and receivable, cost allocations, payroll and fundraising donor management.

FastFund Nonprofit’s fund accounting functionality allows three kinds of restrictions: temporary restriction, permanent restriction and unrestricted. Each separate fund has its own automatic year end closing entry at the end of each fiscal year. Programs with multiple funding sources can be incorporated into single consolidated expense reports as well.

The system’s components are available as an integrated solution or as separate modules. FastFund Nonprofit Software can also manage grant requests, conform charts of accounts to user-defined preferences and produce reports that comply with FASB-117 standards. Reports can cover multiple fiscal years, and can be printed to file formats including PDF and Excel. The payroll component can manage taxes and pay by amount of time worked, percentages, and other criteria.



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Supported Operating System(s):

Windows 7, Windows Vista, Windows XP, Mac OS, Windows 2000

68 Reviews of FastFund Nonprofit Fund Accounting

Average User Ratings

Overall

4.51 / 5 stars

Ease-of-use

4.5

Value for money

4.5

Customer support

5.0

Functionality

4.5

Ratings Snapshot

5 stars

(39)

4 stars

(27)

3 stars

(1)

2 stars

(0)

1 stars

(1)

Likelihood to Recommend

Not likely

Very likely

Showing 1-5 of 68 reviews

November 2016

David from Child Saving Institute

Company Size: 51-200 employees

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

5.0

Functionality

4.0

November 2016

Fast Funds meets our needs!

We have used Fast Funds for over 12 years. During that time, our organization has become more complex. Fasts Funds has kept up with changes and is able to accommodate nearly all of our needs. Fast Funds online works really well. We never worry about losing data and response time is normal 99.99% of the time. Customer Service is very responsive. Often, we ask how use a function. The Fast Funds representative will remote into our computer and show us using our own data and login. This is really helpful. Recent enhancements have been really helpful. It would be helpful to have a little more flexibility on the content and sorting of client balance due statements. A fixed asset module that allows creation of fixed asset lists and depreciation amortization schedules would also be helpful. It is a great value for the money.

Pros

Very easy to learn and use. Never have issues logging into the online system and using the available functions. Price is very reasonable. Customer service is very friendly. The staff know us and remember some of our previous requests. This enables them to be very helpful when we have new questions or issues.

Cons

The AR functions have improved significantly over the years. Nevertheless, the customer statements are hard to read and cannot be customized. Invoices can only be identified by numbers not letters. We tend to prefer letters. There also isn't a place to keep collection notes.

The only area of concern is fixed assets. There isn't a module. As a result, we keep our list in Excel and use Excel to calculate depreciation. Our auditors recommend we purchase a fixed asset system.

November 2016

Amy from Outfitters4, Inc.

Company Size: 2-10 employees

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

5.0

Functionality

4.0

November 2016

Why Outfitters4 uses FastFund Accounting.

Outfitters4, is a management services firm for nonprofits and one of our main services is providing full-service bookkeeping for nonprofit organizations. As we started our company and planned to offer our full-service bookkeeping services, we researched a number of accounting systems and ultimately settled on FastFund Accounting. We have found FastFund Accounting to be a true nonprofit, fund accounting system that gives us the functionality we need to help our clients demonstrate the stewardship and accountability that donors, auditors, and funding sources require. The basis of this true fund accounting system is a segmented chart of accounts that can be customized to meet each organization's unique structure and needs. The multi-dimensional, table driven account system easily generates financial reports that measure each of our clients' funds, programs, grants, projects, and activities. Using this system, we are able to create FASB-117 compliant financial statements that can be customized to report on all segments of our clients' organizations and provide our clients with the information needed to monitor program effectiveness. It also provides us the ability to report on grants and programs that fall within a fiscal year, cross fiscal years, and that span multiple fiscal periods. We have found that we can create custom reports without having to manipulate data using external spreadsheets, as well as use the comprehensive budgeting functions to create line item budget details for each revenue and expense account for programs, departments, grants, and funding sources. We can also create multiple budget revisions for a fiscal year for budget controls, reporting, and budget history tracking. Since we first started talking with them about using their system, the staff at Araize have been wonderful to work with. They have a great breadth of knowledge about nonprofits and their accounting needs and are always happy to help answer any question that we or our clients have. They also understand that there is always room for improvement and are responsive to requests for system enhancements. We have been and continue to be very glad we decided to use FastFund Accounting! Amy Justice President Outfitters4, Inc.

October 2016

Flordeliza from Suwannimit Foundation

Company Size: 11-50 employees

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

October 2016

User-friendly, cost-effective accounting system every nonprofit of any size should have.

I have been using and endorsing FastFund to our foundation and its partners for 8 years now. We had seen how FastFund grew, and especially nowadays, the company is more aggressive in providing the best features at the best value. My work is focused on building capacity of grassroots organizations in their financial management starting generally on their accounting system. I endorse FastFund because I know the ease of use and its functionality which is perfect especially for an under-resourced organization and where they assign persons with no accounting background to handle accounting functions. FastFund has been instrumental in enabling these organizations to meet compliance from donors and has contributed to the sustainability of the organization. It has also steered interests from managers to look into the financial side of their activities because of the timeliness which FastFund was able to contribute and the flexibility to be able to generate budget reports, budget versus actuals reports, monthly trending of expenses, cash flows, expenditure reports for donor reports, and regulatory reports. Reconciliation has been very easy to teach from the features of the program and tracing of records is also very easy. Several donors who had seen the program had been expressing their sentiments that if only they had a program same as what we are using. Accounting functions has been greatly simplified and that the other freed time can be spent on strengthening other areas of operations such as documentations and policy reviews. I will highly recommend FastFund to any civil society organizations (CSOs) of any size. It will definitely add value to your organization and it will ease up the stress brought about by financial management issues from poor accounting system. If you are an international organization, you can also endorse this to your partners/subgrantees. I know of INGOs who were desperate on their subgrantee's accounting system and made the wrong decision of purchasing an accounting program not designed for nonprofits and worst, the program has a thousand features which is not useful for the organization. The subgrantee had no choice but to use a program which is not helping them and eventually, they stopped using it. Wasted resources and an unnecessary stress. Make that right decision and you will not regret it. That is for sure.

Pros

User-friendly, highly functional, cost-effective, customer service is great.

Cons

May not be accessible for groups based on countries where internet is not yet accessible.

July 2016

Renae from Disability Achievement Center

Company Size: 2-10 employees

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

July 2016

Excellent software for nonprofits

This software is excellent! I have not ever worked with a better support team. They are always responding to your needs very quickly. A lot of my suggestions have become a reality in the software! Araize is very responsive and is willing to go the extra mile to make sure that everything is working as it should be.

Pros

This software is very easy to use and it is made for nonprofits. The reporting capabilities are excellent. The user can get data in multiple formats (html, pdf, xls) and in the format needed, which is so important. The system has the ability to create custom reports, along with custom billing formats and letters. I love the import feature! We used to spend 45 minutes manually entering data, and now the same task takes us 5 minutes through import. The online version allows us to work anywhere that has an internet connection, and that has become very important. This tracks all of our programs, grants and funding sources so easily!

Cons

I don't dislike anything about this software! My only wish is that it had the ability to handle multiple currencies.

November 2016

James from Global Lutheran Outreach

Company Size: 2-10 employees

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

November 2016

FastFund exceeded my expectations!

After trying other, more expensive products, I came across FastFund. Just what we needed for our growing non-profit organization! Joe and the team offer outstanding customer service, and have been very responsive to our needs. They continually listen to the customer, and add features that we need. We especially appreciate the cross-platform integration between Fundraising, Accounting, and Payroll. Best yet, it's all online! That's perfect for us, because we have people in several different countries who need to access the information. Good ideas turn into good organizations when you make good decisions, and using FastFund has been a great decision.

Pros

Online; cross-platform integration; great customer service; flexibility; designed with the non-profit in mind.

Cons

Some parts are not user-friendly (report generators); should be able to hide or disable features that are not being used but crowd the screen.