How do I add a new grant?

Set up a new grant.

A grant is a gift of money or funds given for a particular purpose. When the option to Use Grant Accounting is selected in Organization > Organization, you can use the following options to add, change, or remove grants.

Adding a new grant

1. Open Connect General Ledger > Grants > Setup New Grants.

2. Enter the Title.

This is the name that you'll use to identify the grant.

3. Enter the Start Date and End Date.

The start/end date is the date range that the routine will use to select transactions. Use the start date field to enter the first period in the date range. Then, use the end date field to enter the last period in the date range.

4. Set up the checkbox for Auto-increment Dates.

Use Auto-increment Dates to make an activity active during the same periods in the following year. When you close the year-end, Auto-increment Dates will move forward the YY in the Beginning Period and Ending Period fields to the new current year. For example, the Beginning Period is 02/11 and the Ending Period is 04/11. When Jane runs Organization > Close Year-end and the Auto-increment Dates option is selected, the system updates the Beginning Period to 02/12 and the Ending Period to 04/12.

Do you want to move the date range forward when the year is closed?

Yes, move the date range forward. Click to select Auto-increment Dates.
No, do not move the date range forward. Click to deselect Auto-increment Dates.

5. Enter the Funding Source.

The funding source is the name of the organization or government agency responsible for providing the grant.

6. Enter the Agency ID Number.

The agency ID number is a unique number that is assigned to the agency.

7. Enter the Contact Name and Telephone.

A contact is a person serving as a go-between or connection, with a special responsibility to serve an account or a customer.

What is the contact name?

Use the Contact Name field to enter the contact's first and last name. Example: Don Draper

What is the contact telephone number?

Use the Contact Telephone field to enter a ten-digit telephone number. Example: 801-555-5555

8. Enter the Reporting Period.

The reporting period refers to the frequency in days, weeks, months, or years that the grant must be reported on. This field is for information only.

9. Enter the Type of Grant.

The grant type defines the accounting behavior for the related grant. For example, a grant type that allows for money spent to be submitted for collection may belong to the grant type titled Reimbursement.

10. Enter the Original Amount.

Use original amount to enter the initial grant amount. Then, use Adjustment 1-5 to record positive or negative changes to the grant amount.

11. Set up the Grant Accounts.

An account is an accounting record that shows increases, decreases, and a balance for accounts that track grant amounts.

What do you want to do?

Add accounts to a grant. On the Accounts tab, click Values. Use the Enter Value to enter the account numbers.
Delete accounts from a grant. On the Accounts tab, click Values. Now, remove the account number from the Enter Values field.

12. Click Save (CTRL+S).

The new grant is set up and saved.