Managing grants effectively is essential for nonprofit organizations to maintain compliance, ensure financial transparency, and maximize funding impact. However, keeping track of multiple grants, managing restrictions, and processing reimbursements can quickly become complex without the right tools.
Sage Intacct offers a robust grant management software for nonprofits, simplifying grant tracking, reporting, and reimbursement while reducing administrative burdens and improving accuracy. Whether your organization needs basic tracking or a fully automated reimbursement process, Sage Intacct provides scalable solutions to fit your needs.
Below, we’ll explore how Sage Intacct’s key features streamline grant compliance and tracking.
Grant Compliance: Option 1 & 2
Sage Intacct provides two options for managing grant compliance:
1. Grant Dimension (Tracking & Reporting) – A foundational tracking method for grants.
2. Full Grant Tracking & Billing Module – A more automated approach that simplifies reimbursement billing.
Organizations can start with the Grant Dimension for basic tracking and later scale up to the Full Grant Tracking Module as their needs evolve.
Option 1: Grant Dimension
For organizations seeking basic grant tracking, the Grant Dimension feature allows users to tag transactions at the line-item level.
Key Features:
- Satisfies fundamental grant tracking requirements.
- Manually identify qualified expenses through reporting.
How It Works:
- Users add a grant dimension to transactions that relate to a specific grant.
- When reimbursement is needed, reports provide backup details and amounts required for requests.
Option 2: Full Grant Tracking Module
For organizations requiring a more automated approach, the Full Grant Tracking Module streamlines the grant reimbursement process.
Key Features:
- Automates the tracking and reimbursement request process.
- Dynamically gathers all previously unbilled amounts.
- Increases efficiency and control.
How It Works:
- Users establish the grant dimension as containing qualified expenses by selecting the appropriate qualified time & expense type.
- Transactions tagged as qualified expenses are included in an automated invoicing process.
- Users can generate invoices for a single grant or across multiple funders.
- Invoices can be previewed before finalizing, allowing for adjustments.
- The system offers full control over invoice presentation, including email customization and attachment of supporting documents.
Where It Works:
- Accounts Payable (AP) Bills
- Purchase Orders (PO)
- GL Journal Entries
- Employee Expenses
- Timesheet Entries
Examples:
- Expenses within an Expense Report for an employee can be marked as qualified and tagged to a grant.
- Expenses within an AP Bill can be marked as qualified and tagged to a grant.
Grant Reporting
The Grants Manager Dashboard in Sage Intacct provides in-depth insights into grant activity, helping organizations stay compliant and make data-driven decisions.
Key Reports:
- Funder Report
- Displays total amount received to date.
- Includes reporting for multi-year grants.
- Shows how funds are spent.
- Grant Budget vs. Actual
- Highlights expenses that weren’t budgeted.
- Helps prevent unallowable spending using Spend Management tools.
- SEFA Reporting
- Tracks federal awards and expenditures for compliance.
- Statistical Grant Tracking
- Allows users to track statistical information about grants such as # of grants received.
Simplify Your Grant Management with CBIZ and Sage Intacct
Sage Intacct’s grant management software for nonprofits empowers organizations to streamline financial management, improve reporting accuracy, and automate reimbursement workflows. Whether tracking simple grants or managing complex, multi-year awards, these features help ensure compliance while maximizing efficiency.
As a trusted Sage partner, CBIZ CompuData offers comprehensive solutions tailored to nonprofit organizations. We specialize in helping nonprofits like yours implement Sage Intacct seamlessly, optimizing grant management, and ensuring your processes remain efficient and compliant.
Interested in learning more about Sage Intacct for Grant Management? Contact us today to explore how these tools can transform your financial processes.
