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This article provides definitions for common Financial & Accounting terms used in Panorama Donor Management and answers frequently asked questions about activation, configuration, QuickBooks Online integration, and the Transaction Register.
Use this article as a reference when working with:
- Financial & Accounting activation
- Chart of Accounts setup
- Funds and Classes
- QuickBooks Online integration
- Transaction Register posting
- Exporting accounting reports
Glossary
Accrual Basis Accounting
An accounting method that records income and expenses when they are earned or incurred, even if payment has not yet been received or made.
In Panorama, this option allows organizations to track both donations and pledges.
Cash Basis Accounting
An accounting method that records income only when payment is received and expenses only when they are paid.
In Panorama, this option is typically used for donations only.
Chart of Accounts
A structured list of financial accounts used to categorize an organization’s transactions, such as:
- Assets
- Liabilities
- Income
- Revenue
- Expenses
Each account is typically assigned an account number for easier reporting and bookkeeping.
Class
A way to represent a meaningful part of your organization for reporting purposes.
Examples include:
- Programs
- Departments
- Campuses
- Branch locations
- Administrative functions
Classes can be assigned to Funds and used when posting transactions to QuickBooks Online.
Debit Account
The account that receives the debit side of a transaction in the double-entry accounting system used by the Financial & Accounting module.
Credit Account
The account that receives the credit side of a transaction when donations or pledges are recorded.
Designation
The specific program, campaign, project, or service that a donor chooses to support when making a donation.
Fund
A method of separating donations for specific purposes or restrictions.
Examples:
- General Fund
- Scholarship Fund
- Building Fund
- Capital Campaign Fund
Funds help organizations ensure that designated donations are allocated correctly.
General Ledger
A financial record that summarizes all transactions for an organization and tracks balances for assets, liabilities, income, and other accounts.
Journal Entry
A record of a financial transaction showing the associated debit and credit accounts.
When transactions are posted from Panorama to QuickBooks Online, corresponding journal activity is created within QuickBooks.
Product or Service
A financial item used to categorize transactions in the Transaction Register and during QuickBooks posting.
Examples:
- Online Donation
- Event Registration
- Membership Fee
- Sponsorship
Transaction Register
A list of financial transactions recorded in Panorama after Financial & Accounting has been activated.
The register can include:
- Donations
- Pledges
- Payments
- Debit and credit assignments
- Funds
- Classes
- Posting status
- Export history
Frequently Asked Questions
Do I need QuickBooks to use Financial & Accounting?
No. Financial & Accounting can be used without QuickBooks Online.
Organizations may choose to use only the Transaction Register for internal tracking and reporting.
Which versions of QuickBooks are supported?
Panorama currently supports QuickBooks Online only.
Direct integration with QuickBooks Desktop is not supported.
Can I activate the Transaction Register without connecting QuickBooks?
Yes. You can activate Financial & Accounting and use the Transaction Register independently of QuickBooks.
Can I change my Start Date after activation?
No. The Start Date cannot be changed after Financial & Accounting has been activated.
If an incorrect date was entered, contact FrontStream Support for assistance.
Can I change an Account Type after creating an account?
No. Once an account has been created, the Account Type cannot be edited.
To use a different account type:
- Delete the existing account.
- Create a new account with the correct type.
- Reassign any affected Funds if necessary.
Can I rename an account later?
Yes. You can update:
- Account Name
- Account Number
These changes can be made from Settings → Financial & Accounting → Manage Accounts.
Should I delete the Pledge Receivables account?
No. Pledge Receivables (Accounts Receivable) is a required system account and should not be deleted.
Deleting this account may affect pledge tracking and posting functionality.
What happens if I choose Cash Basis Accounting?
Only completed donations will appear in the Transaction Register when using the donations-only posting option.
Pledges are not included in cash-basis posting.
What happens if I choose Accrual Basis Accounting?
Both donations and pledges can be tracked and posted through the Transaction Register.
This option is generally recommended for organizations that need to track outstanding pledge balances.
Why do I see a Sandbox error when connecting QuickBooks?
This usually occurs when Financial & Accounting has not yet been activated.
Complete the activation process before attempting to configure QuickBooks Online integration.
Why don’t my transactions appear in QuickBooks?
Check the following:
- You are signed in to QuickBooks Online.
- You are signed in to Panorama Donor Management.
- QuickBooks configuration has been completed.
- Funds have assigned Debit and Credit accounts.
- Products & Services have been linked correctly.
- The transactions have been posted from the Transaction Register.
Tip: In some cases, disconnecting and reconnecting QuickBooks may resolve posting issues.
Do I need to be signed into QuickBooks for posting to work?
Yes. To post transactions directly to QuickBooks Online, you must be logged into both Panorama and QuickBooks Online during the posting process.
Why aren’t my new Products & Services showing in QuickBooks mapping?
If Products or Services were added after the QuickBooks configuration was completed, rerun the Configure QuickBooks wizard and complete the Link Products & Services step again.
Can I edit Fund account assignments after activation?
Yes. Debit accounts, Credit/Product accounts, and Classes assigned to a Fund can all be updated after activation from Manage Funds.
What is the difference between a Fund and a Class?
| Feature | Fund | Class |
|---|---|---|
| Purpose | Restricts or designates donations | Separates organizational activities |
| Examples | Scholarship Fund, Building Fund | Programs, Departments, Locations |
| Used for donor restrictions | Yes | No |
| Used for reporting categories | Yes | Yes |
Why do I need at least one Product or Service if I’m not using QuickBooks?
At least one Product or Service is required so that transactions can be recorded properly in the Transaction Register.
Without a Product or Service, transactions may not populate correctly for posting and reporting.
What happens when I post a transaction?
When a transaction is posted:
- It is added to a Posted Batch.
- A Posted Date is recorded.
- A downloadable report is generated.
- If QuickBooks Online is connected, the transaction can also be sent to QuickBooks.
What export formats are available?
The Transaction Register supports exporting posted transactions as:
- CSV (.csv)
- PDF (.pdf)
Posted batches may also include:
- IIF (.iif) – for QuickBooks Desktop import purposes only
- CSV (.csv)
Note: Although IIF files can be downloaded, Panorama does not provide a direct QuickBooks Desktop integration.
Can I generate summary reports instead of posting individual transactions?
Yes. The Transaction Register includes a Post Summary Information for Each Account option that allows organizations to create summarized accounting reports grouped by:
- Transaction Date
- Transaction Month
- Donation/Pledge Date
- Donation/Pledge Month
- All Accounts
Summary reports export as CSV files and are useful for organizations that do not use QuickBooks Online.
Why do pledge transactions appear multiple times in the Transaction Register?
Pledge transactions are created sequentially for each expected payment when the pledge is established.
As payments are received, the associated pledge transactions are updated to reflect the payment activity.
This behavior is expected and helps track outstanding pledge installments.
Best Practices
For the most reliable Financial & Accounting experience:
- Confirm your accounting method with your accountant or bookkeeper before activation.
- Review your Chart of Accounts carefully before creating accounts.
- Do not change or delete required system accounts.
- Test QuickBooks posting with 1–2 transactions before posting in bulk.
- Keep Products & Services synchronized between Panorama and QuickBooks Online.
- Review Fund assignments regularly to ensure designated donations are mapped correctly.
Related Articles
- Financial & Accounting Overview in Panorama Donor Management
- Activate Financial & Accounting in Panorama Donor Management
- Manage Financial & Accounting Settings
- Connect Panorama Donor Management to QuickBooks Online
- Use the Transaction Register
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