Manage Financial & Accounting Settings in Panorama Donor Management

Let's Learn:

• Overview

• Access Financial & Accounting Settings

• Manage Accounts

  • Edit an Account

  • Add an Account

  • Delete an Account

  • Reorder Accounts

• Manage Products & Services

• Manage Funds

  • Assign Accounts to a Fund

• Manage Classes

• Best Practices

• Frequently Asked Questions

Overview

After activating Financial & Accounting, you can manage and update your organization's accounting settings at any time. This includes maintaining your Chart of Accounts, Funds, Products & Services, and Classes.

These settings can be modified as your organization's accounting structure evolves. However, some fields—such as Account Type—cannot be changed after they are created.

Access Financial & Accounting Settings

1. Log in to Panorama Donor Management.

2. Select Launch.

3. From the Donor Management menu, select Settings.

4. Select Financial & Accounting.

From this page, you can:

• Manage Accounts

• Manage  Funds

• Manage  Products & Services

• Manage  Classes

• View Transaction register

• View Posted transactions

• QuickBooks Configuration (if applicable)

Manage Accounts

The manage accounts tab allows the organization to update and change the accounts associated with their own accounts or Quickbooks accounts after the Financial and accounting tab is activated. 

From this page, you can:

• Add accounts

• Edit account names and numbers

• Delete accounts

• Reorder accounts

 The user is only able to change the name of the account and the account number. The user cannot change the account type once it has been chosen. The only way to choose the account type would be to delete and then re-add the account. 

Edit an Account

To edit an existing account:

1. Click Edit next to the account.

2. Update the:

   • Account Name

   • Account Number

3. Save your changes by clicking Update.

Note: You cannot change an account's Account Type after it has been created. To use a different account type, delete the account and create a new one.

Add an Account

To add a new account:

1. Click Add Account.

2. Enter the:

   • Account Number

   • Account Name

3. Select an Account Type.

4. Click Add.

Available account types include:

• Asset

• Income

• Liability

Tip: You can edit or change the default account names.  Please don’t delete the Pledge Receivables Accounts Receivables account, it’s the only one of its kind.  

Delete an Account

To remove an account:

1. Locate the account.

2. Click Delete.

3. Confirm the deletion.

Note: Deleting an account may affect existing accounting mappings. Verify that the account is no longer in use before removing it.

Reorder Accounts

To change the order of accounts:

1. Hover over the account's order number.

2. When the move cursor appears, drag the account to the desired position.

Manage Products & Services

Products & Services are used when recording and posting financial transactions.

Organizations connected to QuickBooks Online should keep these entries synchronized with their QuickBooks Products & Services list.

To add a Product or Service:

1. Navigate to Products & Services.

2. Enter the Product or Service name.

3. Click Add Product.

Repeat these steps for each Product or Service your organization uses.

Tip: If you add new Products or Services after connecting QuickBooks, you may need to run the QuickBooks configuration again to map the new entries.

Manage Funds

The Manage Fund account tab allows the user to Manage their fund accounts and the organization may have funds that are created to meet a specific need this helps the organization to clearly assign debit accounts to where funds are allocated. 

The user sees a list of Funds when accessing and can assign and re-assign gifts to new funds or projects added. 

Examples include:

• General Fund

• Scholarship Fund

• Building Fund

• Annual Campaign

Assign Accounts to a Fund

The user can choose Assign Accounts by choosing the tab and a modal opens up to assign the Class and Debit/Credit accounts to the fund.  

Each fund may have different debit and credit assignments as well as classes. If you make a mistake selecting the debit or credit from the drop-down menu, they can be edited by choosing Assign Accounts then updating the proper debit/credit drop down menu. 

You can update these assignments whenever your accounting structure changes.

Manage Classes

Classes represent meaningful parts of your organization, like different locations or programs. You can use them to get deeper insights into your sales, expenses, or profitability for each part of your non-profit. 

Classes help provide more detailed financial reporting and are especially useful when using QuickBooks Online.

Add a Class

When the user chooses to add a class, a modal will appear for the user to type in the new class name and then Save.  

Edit a Class

To rename a Class:

1. Select Edit.

2. Update the Class name.

3. Save your changes.

Delete a Class

To remove a Class:

1. Select Delete.

2. Confirm the deletion.

Note: Before deleting a Class, ensure it is no longer assigned to any Funds or accounting records.

Reorder Classes

To change the display order:

1. Hover over the order indicator.

2. Drag and drop the Class into the desired position.

Once all the classes are entered the user can then start the configuration with Quickbooks, the user can go back to the Manage Funds account assignment and choose the class drop down. 

When all accounts, funds and classes have been added the user can then start their Quickbooks configuration. 

Best Practices

For the best experience with Financial & Accounting:

• Review your Chart of Accounts before making changes.

• Keep Products & Services consistent with QuickBooks if your organization is integrated.

• Regularly review Fund assignments to ensure transactions are posted correctly.

• Use descriptive Class names that reflect your organization's reporting needs.

• Consult your accountant or bookkeeper before making significant accounting changes.

Frequently Asked Questions

Can I change an Account Type?

No. Account Types cannot be edited after creation. Delete the account and create a new one using the correct type.

Can I rename an account?

Yes. You can update both the Account Name and Account Number at any time.

Can I edit Fund assignments later?

Yes. Debit accounts, credit accounts, Products & Services, and Classes assigned to a Fund can all be updated after activation.

Can I add Classes after activating Financial & Accounting?

Yes. Classes can be created, edited, and assigned at any time after activation.

Do I need QuickBooks to use these settings?

No. Organizations can manage Accounts, Funds, Products & Services, and Classes without connecting to QuickBooks Online. However, QuickBooks integration is required if you want to post transactions directly to QuickBooks.