Grant Management Ideas

Ashley Meneley

Hey Community,

We are looking into streamlining our grant management and would like some ideas or how structure on how other companies are handling their grants. We are primarily grant funded and our tracking has been kind of everywhere. We have UKG Ready for our HRIS/Payroll and NXT for our accounting/billing/GL. We have not dabbled with the grant module in NXT since we never really used NXT until recently with the merge.

We are looking at a streamlined way to management every grant, the award letter, the expenses towards the grant (invoices/credit card transactions). And try to find a way to store it all in one place without diving into another software.

Right now, we have the award letter stored in a file, not digitally. We create an account directly for the grant but don't differentiate it with funding codes or project codes then we record every invoice/credit card receipt to that account line. In the past when I handled the accounting I would make a copy of every transaction, store it in a binder and then run the GL every month and make sure I had receipts/invoices for everything in that binder. But we are trying to step away from duplicating paper, wanting to make everything quickly accessible to everyone now that we are more remote, and want a clear way to break out the costs within the grant, construction costs, furniture costs, training costs, etc.

How do you handle your grants?

Lisa Olscamp

@Ashley Meneley We also have a significant number of grants to track. We utilize one of the Transaction code tables in conjunction with the grants function in the general ledger. The combination works great! The T codes are attached to any transaction that is grant related, but not a mandatory field. Reports can be run filtering the T codes. Within the grant function we upload all of the documents associated with each grant such as the award notice and any contracts associated with the funders.

Our auditors also have view only access to our system. This has significantly reduced the number of requests from them for data and documentation, making the audits easier for everyone.

Laura Vaughan

@Ashley Meneley It sounds like you should use the Grants Module, which requires use of transaction codes (not ideal). A Project code for each grant could also be helpful. To segregate your expenses by nature, you would need new account/ledger codes to track those.
Here is one knowledgebase article that may help: