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This article excerpt, by Shereen Mahoney, originally appeared here:
The Grant Management module in Microsoft Dynamics GP was designed primarily for not-for-profit and public sector organizations. Grant Management, as its title indicates, automates grant management processes, so you can more easily track your grants, demonstrate accountability, and attract future funding.
Automated grant management empowers you to make faster, better spending decisions for better use of grant funding on a daily, monthly, and yearly basis. You can set automatic alerts to warn you of potential budget overruns, and you can track specific grants against specific programs to keep a closer eye on expenditures.
The Grant Management module helps you manage funds more efficiently by storing data in a centralized location. Users have up-to-date information at the ready so they can produce timely reports and work more productively. And with current views of grant transactions and allocations, you can make proactive decisions rather than reactive.
You can generate specialized reports to demonstrate accountability to your sponsors and to ensure compliance with regulations, including the Sarbanes-Oxley Act, Financial Accounting Standards Board and Government Accounting Standards Board regulations, and other regulatory legislation. You can look at actual versus budget comparisons with detailed summary reports.
You can create a master record file that defines grants, award amounts, and sponsors. Grant Management is integrated with financial management modules in MS Dynamics GP, so as you enter transactions, they are automatically validated against your budget, giving you tight control over your spending against allocated funds.
If grants are your organization’s lifeblood, Grant Management in Dynamics GP is the heart you need to pump them.
Learn more about Nonprofit Accounting or Microsoft Dynamics GP here.