Fix 1 of 2
Tag every expense to its grant in the accounting system
Classes, funds or tags in your accounting system (or fund accounting software) let you run budget-versus-actual by grant at any time, instead of rebuilding it in a spreadsheet each month.
- 1Agree with finance one code per grant or restricted fund (QuickBooks classes, Xero tracking categories, or fund accounting in Aplos, Sage Intacct or Financial Edge).
- 2Load each grant's budget against those codes.
- 3Make sure every bill and payroll line is coded when entered.
- 4Run budget-versus-actual by grant monthly and flag anything over 10%.
Tools: QuickBooks classes · Xero tracking categories · Aplos · Sage Intacct · Blackbaud Financial Edge NXT