5 reasons to use Microsoft Dynamics GP’s Grant Management

Not-for-profit and public sector organizations may find Microsoft Dynamics GP’s Grant Management module can make the grant process simpler.

Users can track funds earmarked for specific purposes or projects with the Grant Management module. And as an extension of Analytical Accounting, the module integrates with your day-to-day accounting activities.

And that’s just the beginning. Here are 5 things you can do with the Grant Management module in your Dynamics GP:

1. Manage your funds from a centralized location.

Users won’t need separate grant tracking software. The Grant Management module has a central location to set up a grant ID within the Grant Maintenance screen.

2. Set automatic alerts to warn of potential budget overruns.

Cost overruns are a concern when tracking grants. Microsoft Dynamics GP allows for better tracking that includes warnings for this issue.

3. Eliminate manual grant entry and reconciliation processes.

Once a grant is set up in the Grant Maintenance window, users just need to track their normal spending in Microsoft Dynamics GP. When you select the accounts setup for each grant, every expense will be automatically recorded against the specified grant and its budget. Transactions in Dynamics GP validate against your budget automatically. As soon as a transaction hits your general ledger, your data is updated, eliminating the need for a separate reconciliation process to prepare reports.

4. Track specific grants against specific programs.

Users can create a specific program in Analytical Accounting and apply a budget to it. They can then apply the grant ID, part of a master record that defines grants, award amounts and sponsors. Programs set up in Analytical Accounting can have multiple grants associated with them, allowing for more detailed reporting.

5. Execute specialized reporting on grants.

While reporting is an important aspect of any business, not-for-profit organizations face an additional layer of accountability when it comes to grants. Microsoft Dynamics GP’s Grant Management module allows users to generate specialized reports to comply with regulations, such as an Actual vs Budget comparison within Management Reporter.

If a regulatory body requires your not-for-profit to submit reports, Grant Management will only make your life easier. Microsoft designed this module to track your grants and demonstrate accountability within your normal accounting practices. If you have questions or believe Grant Management is right for you, please reach out to an Enavate expert and we can talk about how to activate this module.

About the Author

Samantha Vislay, MCSE is an Dynamics GP Techno-Functional Consultant located in Pittsburgh, Pennsylvania and has been working with Dynamics GP since 2015. She is skilled in training, implementation, integrations and customizations.