Nimble AMS includes a full accounting sub-ledger with multi-entity management and constituent billing.
In Nimble AMS, all financial transactions are associated with a batch. With batches you can group financial transactions by entity and transaction date. Batches are posted to finalize the transactions within the batch, and you can export them from Nimble AMS for import into your general ledger.
Cash billing is a term used to describe the ability to track who has been billed in a non-accounting manner. Cash billing does not track income or accounts receivable transactions, and there is no accounting impact until payment is received. This differs from more traditional accounting methods where income and accounts receivable transactions can be recognized at billing. Using cash billing, on the other hand, associations can track members who have been billed and the amount that has been billed to each with no accounting impact until payment is received.
Deferred revenue is a liability that is created when money is received by your association for goods and services that are not yet provided. Revenue is recognized, and the deferred revenue liability eliminated when the services are provided. In Nimble AMS, deferred revenue is recorded for products that are set with a deferred revenue method. A deferred revenue method sets the type of revenue that will be deferred and the GL account where the deferred revenue will be recorded.
With Nimble AMS you can track and manage one or more financial entities. Each financial entity of your association managed within Nimble AMS is represented by an entity record. The entity holds a variety of settings and information used when entering orders and other financial processes, as well as analytics.
In Nimble AMS, you use productsto represent the goods or services your association offers to your constituents. Your products are set up using product types which define what attributes the products have. For example, an event session product has a start and end date, but a merchandise product does not. Your products are purchased by your constituent using orders.
With Nimble AMS, you can charge and collect sales taxes on the merchandise products you sell to your constituents.