CYMA Grant Tracking
Many not-for-profit (NFP) organizations are funded at least in part by government and private sector grants. These funding organizations often demand specific reporting of grant related expenditures from the party receiving funds. CYMA Grant Tracking (GT) is an optional part of the CYMA Not-for-Profit Edition General Ledger system. When enabled, it provides users with the capability to define Grants, Grant Budgets, Funding Sources, Funding Source Types, Programs, Activities and Core Object Expenses.
Historically, non-profits have had limited choices for tracking grant expenditures:
- Set up the General Ledger account structure to allow for this type of recording. Pitfalls to this approach include establishing a large number of GL accounts and increasing the complexity of recording expenses.
- Buy an expensive NFP accounting system that includes a Grant Tracking system. This approach often means great expense for the non-profit, which can be problematic for small and mid-size not-for-profit organizations.
- Keep separate journals of grant related expenses, which often mean error prone double entry.
CYMA offers a great alternative to these flawed choices. The CYMA Grant Tracking System, an optional part of the CYMA General Ledger, provides a simple and cost effective method for capturing, tracking and reporting grant related expenses back to the funding source.
All Grant related information eventually ends up in the General Ledger, where it appears as separate fields in the GL Transaction File.
Grant Tracking users can then determine where Grant related expenses are tracked. Grant Tracking can be enabled in the General Ledger, Accounts Payable, Payroll and Accounts Receivable modules within CYMA. When Grant Tracking is enabled within a module, all entry screens within that module are enhanced to add Grant Tracking fields to each data entry line. Because the Grant fields are separate and distinct from the GL account number used in any particular entry, the NFP organization has flexibility in coding the expense.
Each record in the GL Transaction file contains:
- Document ID
- GL Account
- Journal Identifier
- Grant Fields Grant Number
- Core Object Expense
- Funding Source
This allows user to create powerful reports and spreadsheets to analyze Grant related expenses and revenue. The CYMA Grant Tracking System maintains the following tables of information:
- Funding Source
- Funding Source Type
- Core Object Expense Types
The Grant table includes Grant demographic information and Grant Budget information.
Contact CYMA today at 800-292-2962 for a demonstration of the Grant Tracking module as part of the Not-For-Profit Edition.