This tutorial will show you how to use the Financials module to prepare and review bank deposits and simplify the integration of your deposit data with your organization’s accounting system.
To get started, hover on Other Stuff in the Navigation Bar and click on Financials. The Deposit Reconciliation screen will appear, with four tabs at the upper left corner: Pending Deposits, Deposited Funds, Void Transaction Funds and Configure Charts of Accounts. By default, you will start out in the Pending Deposits screen.
In the Pending Deposits screen, you’ll see a matrix with quite a few columns, including: Source of Fund (Donation, Membership, Membership Refund, Membership Renew, or Event Registration fees), Names (Donation Names, Membership Type/Level, or Event Name), Program/Campaign, Contact Name, Received Date, Mode of Payment (credit card, cash, check or wire transfer), Amount, Reference Details (associated with the Mode of Payment, for ex: receipt number for cash paid) and Accounts Name.
To Prepare a Deposit
- In the Pending Deposits screen, select the checkbox next to the Source of Fund for all pending items you wish to include in the deposit.
- In the Accounts Name column at the far right of the screen, select an account to associate with this item. (See To Configure a Chart of Accounts, below, for more information about Accounts Names.)
- Click DEPOSIT (on the very bottom of the screen). The Confirm the funds Selection screen will appear.
- Enter the title of the selected deposit in the Title field (a required field). This can be a descriptive title, such as Event Registration Fees from 2/15 – 3/1, or simply a date.
- Enter memo notes or comments in the Memo field (also a required field).
- If you have any adjustments such as refunds, cancellation, etc., you can make the adjustment in the Apply Adjustments section, by entering the name of the Adjustment in the Name field, and the dollar value of the adjustment in the Amount field. (Note: Enter a negative value if you want to deduct the amount from total funds. For example: if your total deposit is $25 and you have a refund for $4, you would enter -4 in the amount field.)
- Click CONFIRM THE DEPOSITS. You will see the "Fund(s) deposited successfully" message appear in a green banner. You can click on Close or Cancel to exit this screen. These deposits have now moved from Pending Deposits into Deposited Funds.
To View Deposited Funds
- To view details of deposited funds, click on the Deposited Funds Tab. In the Deposited Funds screen, you will see the Total Funds deposited and Void Funds till date. Along with the Title, Memo, Deposited Date, Amount, and Details for each of the deposited items.
- Locate the deposit that you wish to review in the Title column and hover on it.
- Click on the View (magnifying glass) icon that appears to the left of the Title name. The View Deposited Details screen will now appear with the details.
- To export this matrix to Excel, or to print it out, click Export/Print, in the upper right corner of the pop-up screen.
- Click CANCEL or X to exit this screen.
To View Void Transaction Funds:
- To view details of donations, memberships, and event registration fees that have been voided click on the Void Transaction Funds tab.
To Configure a Chart of Accounts:
Accounts Name is a listing of accounts (referred to as a Chart of Accounts) that your accountant/bookkeeper maintains for your organization inside of the organization’s accounting system. Fundly CRM allows you to link every payment (check, wire transfer, cash payment, credit-card payment) recorded, to a specific Account, so that your organization’s bookkeeper can easily integrate this data with the accounting system data. You do this in the Pending Deposits screen, by selecting an Accounts Name from the Accounts Name drop down menu for each source of funds you include in your deposits. But first, you’ll need to configure the list of accounts in Configure Chart of Accounts tab. Here’s how…
- Click on the Configure Chart of Accounts tab.
- Click + (plus sign icon) on the right hand side of the screen.
- In the Accounts Name field, type the name of the account.
- The Make Active checkbox is automatically selected for you.
- Click Save & Add New to add more account names or click Save & Close.
- A pop-up screen will confirm that the “Account saved successfully.”
To edit the Chart of Accounts (The Listing in Accounts Name)
- Click on the Configure Chart of Accounts tab. You will see a list of Accounts Name along with the Status of each.
- To make an Accounts Name inactive, click on the green circle under the Status column corresponding to that Accounts Name. A pop up screen will ask you “Are you sure you want to deactivate the account?”
- Click OK.
- A pop up screen will confirm that the “Account successfully deactivated.”
- The green circle will turn to gray.
- To edit, change the name of the account, hover on the account name and click on the Edit (pencil) icon that appears to the left of the account name.
- After making your changes, Click Save & Close.
- A pop up screen will confirm that the “Account saved successfully.”
- To delete an Account Name, hover on the account name and click on the Delete (X icon) that appears to the left of the account name.
- A pop up will as you “Are you sure you want to delete this account?”
- Click OK.
- A pop up screen will confirm that “Account deleted successfully.”
You can export or Print Pending Deposits, Deposited Funds, Void Transaction Funds and your Chart of Accounts by clicking on Export/Print in the upper right corner of the respective screens.