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FastFund

A web-based accounting software system designed by Araize for non-profit organizations.
Questions about FastFund? Call (800) 827-1151 and talk to a software expert now.

FastFund Nonprofit Software is a fully integrated fund accounting system designed by Certified Public Accountants. Affordable modules include General Ledger, Accounts Payable, Accounts Receivable, Cost Allocations, Payroll and Fund Raising.

Handles the complex reporting requirements of multi-funded organizations. Designed to maintain separate financial records for each program. User definable chart of accounts using up to 6 segments to define funds, cost center and accounts (maximum account number - 36 digits). Powerful reporting capabilities produce custom reports to meet all your fiscal requirements including multi-year reports, budgets and reports that comply with FASB 116 and 117.

Standard features include:

  • Automatic self-balancing funds with due to/from fund entries
  • Budgets
  • Detailed audit trails
  • Point of entry and after the fact allocations
  • Bank reconciliation and check writing.

Araize offers an unconditional 90 day money back guarantee and one-year of free 800 telephone support. Additional services include training, consulting, online support.

FastFund Accounting System

The Basic Accounting System is the main application in the FastFund Nonprofit Software suite and has everything you need to run a nonprofit’s fiscal office.

Standard features include a user-defined chart of accounts using up to 6 segments to define funds, cost centers and accounts (up to 36 digit account number).

You can enter:

  • Cash receipts
  • Disbursements
  • Journal entries (reversing and recurring)
  • Budgets
  • Perform bank reconciliations
  • Print standard accounting reports and FASB compliant financial statements

FastFund Accounts Payable

FastFund Accounts Payable is fully integrated with FastFund’s Nonprofit Software General Ledger. The integration of the General Ledger and the Accounts Payable doesn’t require separate download or linking procedures. All vendor activity is automatically posted to the General Ledger.

FastFund’s Accounts Payable has the ability to do the following:

  • Create a list of vendors with names, addresses, contacts, accounts payable control accounts, payment terms and 1099 information
  • Record vendor invoices
  • Schedule payments and print checks to vendors
  • Maintain a subsidiary ledger for each accounts payable account
  • Keep a vendor history of all vendor activity
  • Prepare 1099s for vendors on IRS approved forms, or generate 1099s on magnetic media

FastFund allows you to keep multiple Accounts Payable control accounts, each with its own subsidiary ledger. This is useful if you want to separate vendor payables and other payables, such as client payables.

FastFund Accounts Receivable

The FastFund Accounts Receivable is a fully integrated solution with FastFund’s Nonprofit Software General Ledger. The integration of the General Ledger and the Accounts Receivable doesn’t require separate download or linking procedures. All client activity is automatically posted to the General Ledger. FastFund’s Accounts Receivable has the ability to do the following:

  • Create a list of clients with names, addresses, contacts, accounts receivable control accounts and payment terms
  • Track four types of billing and receivable sources for each client
  • Record client bills
  • Apply payments against client bills
  • Maintain a subsidiary ledger for each accounts receivable account
  • Keep a detail history of all client activity

FastFund Accounts Receivable helps you manage your client bills and payments, planning cash flow and tracking revenues. Plus, you can keep multiple Accounts Receivable control accounts, each with its own subsidiary ledger. This is useful if you have different sources of revenue and each has a separate list of clients for billing.

Each client can have up to four receivable accounts to track different receivable sources for third party billing.

FastFund Cost Allocations

The Allocations module includes the After the Fact Cost Allocations Spreadsheet and Point Of Entry Allocations. The After The Fact Allocations provides management with the ability to monitor direct and indirect costs of all programs.

  • Compare detailed budgets before the allocation of costs.
  • Allocate both Detailed Budgets and Actual Expenditures and compare results.
  • Allocations are not posted to the General Ledger providing What If capability.

The Allocation Methods used include the direct cost method, total revenue, fixed percentage, square footage, numeric values, total salaries, total purchase of services, and other accepted methods.

The Point Of Entry Allocations system provides you with the ability to allocate vendor invoices, cash disbursements, revenue bills and cash receipts at the point of entry (Transaction Entry) using pre-set percentages and account numbers.

You can pre-define allocation codes to distribute expenses and revenue to an unlimited number of General Ledger accounts. The system will maintain an unlimited number of Allocations.

FastFund Payroll

FastFund Payroll is fully integrated with FastFund Nonprofit Software Accounting. Payroll can be created for salaried and hourly employees, using multiple pay rates and pay types.

Employee wages can be allocated to multiple accounts to reflect which programs the employee worked during the pay period. You can handle multiple pay periods and create memorized payroll batches. Setup multiple other income and adjustments for withholdings.

Print all quarterly and year end reports, including W-2s.

FastFund Raising

FastFund Raising gives you all the tools you need to manage your development and fund raising efforts. Track donors, prospects, alumni, members and constituents.

  • Fully integrated with the FastFund accounting modules, or can be a stand-alone application.
  • Track all donations, pledges and payments. Send acknowledgements, receipts to all donors. Measure the effectiveness of all fund raising campaigns and appeals.
  • Build sophisticated queries for letters, solicitations and reports.

Reviews of FastFund

Jacque from SC Association of CPAs says...

It is very easy to learn and use

The good: It is easy to use and learn

The bad: We use it for multiple companies and we have to log out and login for each company. It would be nice if I could just change between companies without having to log in and out.

An anonymous FastFund user says...

It’s a better accounting system than what we had, It does lack things for people to use on the fly… if I have a payroll item code, I have it up and I don’t have to back out of everything set up a payroll code and go back in. I can do that on the fly.

The good: I love the fundraising. It gives me what I want when I need it and I can give a list of donors by amount. It’s their best feature by far but I’m disappointed in the accounting.

The bad: I can’t use SQL tables to write reports outside the system even though it’s a SQL-based software… the report writer in the system itself is not user-friendly.

An anonymous FastFund user says...

We only used FastFund for a couple of months, because they had over sold what the software did at that time. However, it has been 2 years, and I would hope they have improved the software.

An anonymous FastFund user says...

Works for us. Fits our budget. It’s not quite as user friendly as I would like to have, but that may not be possible based on what we are looking for. I would only recommend it to someone who is computer savvy.

The good: I like the way that it keep tracks of the restricted donations.

The bad: The report writing could be a bit easier.

Wayne says...

I like it a lot. Excellent support. I went into this not knowing much about the software (it’s been a long time since I was involved in accounting) and they got me started in a hurry. They are just minutes away. The reporting is easy and it’s very intuitive once you get things put together.

The good: The help screen is useful but it’s pretty straight-forward. The cost is very reasonable as well. They have since added payroll functionality.

The bad: I think they are improving what is needed, with adding the payroll module to the program and better tax reporting.

An anonymous FastFund user says...

Designed for nonprofits, very easy to use.

The good: Easy to use, easy to log into it. From wherever or whenever. Very user-friendly. Owner of company was more than helpful anytime there was an issue. I helped recommend a few other people to use this software.

The bad: N/A

Susan from Diabetic Cats in Need says...

A good package for a smaller non-profit. Has functionality for payroll, and billing, along with extensive donation/fund raising record keeping. Customer support is first rate.

The good: Customer service. I can’t rave enough about how Joe and the rest of the team are there for me to answer questions and help me figure out things that I just am not understanding.

The bad: Some things are not intuitive, but the support team is there to show you the way.

Jaci from Big Sur Health Center says...

This software for small non-profits is easy to use and allows you to get reports usually only available in bigger software programs. The customer support is excellent. I use the accounting, payroll and fund raising modules for my organization. We are extremely pleased with the integration of the 3 modules.

The good: Ease of use. The User Guide is spare, but there are webinars available as tutorials that are excellent. The report function is also excellent. I had to get a payroll report across fiscal years for a grant report and was able to do so with ease.

The bad: Having to move from accounting module to fund raising module when entering a cash receipt gift. We understand completely why this must be, but it is the only thing I can think of that I don’t care for with the program

Gerd says...

We are a 40 plus year old non-profit,having used FastFund since 1999. We shifted to the cloud version in recent years; the transfer was truly seamless. Araize is one of the most customer oriented firms in the country, constantly making refinements and improvements!

The good: High customer support and appreciation.

The bad: N/A

Tom says...

FastFund is an affordable SAAS solution for not-for-profit fund accounting. It is easy to use and processing steps are very intuitive.

The good: FastFund facilitates the tracking of restricted funds. For interfund transactions, it automatically records the off-setting transactions; there is no need to do 2 entries every time there is a transaction between funds. FastFund also allows the creation of a variety of reports, all of which can be exported to other formats, such as PDF or Excel workbooks. I implemented FastFund at my former employer, and I hope to implement it at my new organization.

The bad: A statement of cash flows would be helpful.

Larry from Clinton Hill Early Childhood Day Care says...

From Clinton Hill Day Care likes the outstanding navigation of the system. The chart of accounts is superb

The good: The navigation and report(s) formatting

The bad: How to enter the cash receipt(s) in the system for multi fund(s)

Doug from Museum of Fine Arts says...

A modular, integrated, robust and capable accounting software application. Very user friendly and easy to learn, especially if you have prior accounting software experience.

The good: Fast transaction processing, dependable, secure, portable, great pricing, great support, training videos & webinars, embedded user guide, and more.

The bad: This is not really a bad feature, but similar to many ERP Solutions, the reporting functionality has it’s own separate learning curve.

An anonymous FastFund user says...

Pretty intuitive and easy to use

The good: simplicity

The bad: simple

Renae from Disability Achievement Center says...

Fast Fund Nonprofit Software gives users the ability to track multiple funds, budgets and allocations in an easy to use format. It has different integrated modules available, such as accounting, payroll, and fund raising software. Fast Fund Nonprofit Software also has a custom reports feature, so you can get the information you need in the presentation you want.

The good: The best feature is how easy it is to use! And, the more you learn about everything Fast Fund Nonprofit Software has, the better! You can eliminate a lot of manual processes with this software, because it has the capabilities to do the work for you.

The bad: Specifically, I wish the general ledger detail report could be totaled at the bottom. I have to manually total this report on several occasions. I cannot think of anything else. The software and the support is excellent!

An anonymous FastFund user from Incight says...

The accounting system works well for us as a non-profit organization that needs to track different funds, programs, grants (funding sources) and projects. It also has a great donor management system. It is all online, convenient and economical.

The Good: It is easy to use and the customer service is great. They also continually have online webinars for training.

The Bad: There are some modules of the system that are still in development, like cost allocations and payroll, but they are working on it. The server- based system has been in place for years (so you know it is a reputable company). But the online cloud-based system we use is still being worked on. They are adding and improving all the time.

An anonymous FastFund user from Itasca Youth for Christ says...

The product integrates accounting, donor management and payroll. It meets our needs very well.

The good: Support is excellent.

The bad: Would like more ease and flexibility with searches of the data base.

An anonymous FastFund user says...

It’s an accounting package that is modular. It can do AP and AR and is auditable. It has Crystal Reporting, which allows for some customized reporting. It is fully online, so nothing has to be installed locally.

The good: The software was fairly cheap to buy and maintain. We used it for a year, and the cost was so low compared to other options, we felt it was a no-brainer to try it out. The customer service was also good and responsive. We did some training with the company and they were offering help regularly.

The bad: The training and software assumed a basic understanding of accounting, especially when it came to setting up a chart of accounts and then entering transactions. We have zero accounting background, so this was hard for us. The software could not be 100% customizable to help us understand menus and labels better. Lastly, the reports could not be fully customized to let us see only the exact data we wanted to see; the problem was that our requirements were ultra basic, and the software produced its most basic reports with more information on the page than we wanted/needed.

David says...

It is very good for non-profit organizations who receive donations as their primary source of income (Fund-Raising module). This is combined with the Accounting module which enables non-profits to show how funds contributed for specific purposes were spent for the purposes for which the funds were given. It is the combination of these two modules that provides a service that other accounting programs do not provide.

The good: The ability to track donations (given for specific purposes) and to keep those funds separated for reporting purposes.

The bad: The reports function needs work (as there is a limited ability in producing reports). I find it difficult to produce the detailed reports that I need to produce for my board.

Doug from Africa Mission Alliance of Canada says...

Online software (software as a service); different modules available. We have the contact management module and the accounting one. Good integration, as both work off the same database. Other modules are available, such as payroll.

The good: Good integration, excellent support.

The bad: Some of the design limitations are a bit frustrating for our staff. It won’t always do what we wish it would. i.e. list all our child sponsors who pay annually by cheque;