Grant Accounting

Grant Accounting is challenging, no doubt about it. Grant recipients are responsible for post-award grant administration and accounting, including expenditure analysis, approvals, and financial reporting. Layer on top of this that most grant recipients have multiple grantors with varying reporting requirements and the level of detail needed for grant accounting to work well just goes up!

If you are a non-profit or receive R&D grants then you need to…

  • Ensure your accounting systems and processes are capable of providing relevant reporting for each grantor
  • Create a chart of accounts and a classification process that does not overcomplicate your accounting without losing visibility into financial performance
  • Ensure that you are compliant with your funders reporting requirements on a timely basis with an eye towards detail and accuracy

At GrowthLab...

We work with many non-profits and love being able to dive deep into your accounting systems to set up your chart of accounts and -- more importantly -- classes, to be able to efficiently and accurately deliver the reports that management and funding sources need to manage their grant expenses.

 

Get the latest from GrowthLab, twice a month.

FROM THE BLOG

5 Steps to Completing your SBA PPP Loan Forgiveness Application

How do I complete the SBA Paycheck Protection Program (“PPP”) Loan Forgiveness Application?...

READ MORE