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How to Track Grant Budget, Commitments and Actuals in Intacct

How to Track Grant Budget, Commitments and Actuals in Intacct

Nonprofit Foundations and Trust organizations often require specific reports to track their grants and commitments.  If you’re required to track and report total budget vs committed funds vs actual for your grants, across multiple years, Wipfli has developed a report to meet your needs.

Required Scenario:

Set up a grant budget, track commitments to grant recipients/grantee under the grant, and track actual expenses/payments under the grant, with the option to forecast budget for future years.

Solution:

  1. Track budget under a Budget ID “Grant Budget” for multiple years
  2. Set up a user-defined book “Commitments” that does not post to the Accrual book but still tracks by transactions
  3. Enter grantee commitments as Purchase Orders that post to the user-defined book
  4. Enter vouchers/payments to grantees as Vendor Invoices and Payments to post to the Accrual book
  5. Track forecast under separate Budget ID “Forecast”

Here is a sample report derived from this solution:

Grant Budget vs Actual vs Committed in Intacct

Need More?

To learn more about this report, please contact support@brittenford.com or techsales@wipfli.com.

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