How to Track Invoices for Grants
Grantors award grants for capital improvements, community projects, hospitals, individuals, nonprofit agencies, research projects, universities or other reasons and need a grant management system to track information. Tracking the invoice information is critical to maintaining the award and renewing it for the next year. There are grant management programs, but they can be costly. Newer accounting software can create spreadsheets with the invoice information needed to support the grant information.
Other People Are Reading
Instructions
-
-
1
Set up the accounting numbers with a department code used for all of the grant information. Add the department code to the primary account number to track income and expenses. Use codes for different locations, projects, assets or anything that needs data collected.
-
2
Process invoices with your business accounting software, making sure to use the department code with the accounting number. Store the invoices alphabetically, with the most recent date in front of the file.
-
-
3
Download the invoice information from the accounting software to a spreadsheet, either weekly or on a monthly basis. The spreadsheet should track the invoice number, issue date, due date, customer name, customer ID number, account number, amount, discounts, total due, total paid, date paid and any other data asked for by the grantor.
-
4
Analyze and manipulate the data once everything is in one place. Sort the data by the customer, due date, paid invoices, unpaid invoices and account number.
-
5
Add some individualized formatting or auto formatting to give a pleasing look to your printed report. Use a printed invoice spreadsheet as part of the report given to the grantor.
-
1
Tips & Warnings
Use a spreadsheet program to create other reports from the invoice information.
References
Resources
- Photo Credit fattura 3 image by Rido from Fotolia.com
