Finance

The Freedom™ Finance Application allows your organization to manage all aspects of your sales subsidiary ledger in one intuitive application. Whether you’re selling an annual membership, an event registration, a sponsorship, or a physical product, this application has the tools you need to manage your website shopping cart, create and track invoices, generate statements and aging reports, and process payments through integrated portals.

Empower your accounting team to set up account charts, create custom batches, run revenue/accounting-related reports, track in-kind trades, manage deferred revenue with our Finance Application.  Your team can even export financial data into its preferred third-party accounting system (QuickBooks, Dynamics, Sage, etc.).

Shopping Cart Experience

Create a familiar shopping cart experience with the Financial Application. Place items in your shopping cart by selecting them for purchase. Use the shopping cart feature to pay for the items; then, receive receipt/confirmation of purchase.

Product Catalogs

Create a searchable product catalog that integrates with the shopping cart feature.

Discounts, Coupons, Giftcards, Shipping & More

Organizations and members/users can apply discounts, generate gift cards, determine shipping price, set tax rates, and more.

Custom Invoicing

With the Invoices module, you can view all invoices and effortlessly send them via email or physical mail. You can also generate pro forma invoices for those transactions not considered final until payment is received.

Reporting

Make more informed decisions by analyzing custom reports. Generate monthly statements, monies owed reports, and more.

Customer Statements

View summaries of customers’ invoices and payments.

Receivables

Accounts receivable is a current asset account in which an organization records the amounts it has a right to collect from customers who received goods or services on credit. The Collections module provides you with a dashboard view of all monies owed by each customer and the duration of each outstanding payment. In addition to tracking monies owed, you can also view all invoices, payments, and notes.

Payment Processing

The Payment module provides flexibility in accepting and recording payments for invoices: you can store members’ credit cards and process payments automatically; you can manually process a credit card payment; or, if you receive a mailed check, you can reconcile it against an invoice. The Payments module also gives you the ability to issue refunds, add credit memos, track in-kind trades, and receive notifications of expired credit cards.

In-Kind Trades

The Finance Application enables the tracking/management of in-kind trades—the exchange of goods/services (rather than physical money) between two organizations.

Refunds & Credit Memos

Generate refunds and credit memos with ease. A credit memo is a seller-produced document issued to a buyer that modifies the terms of an earlier invoice and reduces monies owed. Credit memos ultimately reduce the seller's accounts receivable and net sales and the buyer's accounts payable and net purchases.

Accounting Specific Functions 

The Finance application includes accounting functionality, complete with a general ledger, batching, account mapping, and deferred revenue. This module provides a view of every invoice generated or voided, every payment processed, and every credit memo. You can create custom reports based on income per customer. And the Deferred Revenue feature allows you to recognize revenue at a later date for memberships, events, and any other items you wish to postpone in your accounting.

 

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