The new Granting Management Module streamlines the process of managing outgoing grants through a system of grant applications tied to individual grant programs.
Grant programs are set up and tied to set expense and asset accounts so awards are automatically recorded in the books. Once the programs are defined, applications can be submitted against them and linked to the person or business applying. Applications have individual documents, notes, progress status, and award amounts.
Applications with the “Submitted” status have buttons for denying and approval. Approving an award generates an award letter for the applicant, a payment request form is emailed to the grants finance contact designated in Customer Settings, and the accounting transaction for the expense and the asset withdrawal is created.
