External grants send money from funds to grantees.
- Navigate to the Grants page.
- Click Create on the left-side menu.
- Search for a Grantee or click List and select from the list, then click Create.
- Fill in the required fields of Grant Date, Amount, and granting fund and any other fields, then click Create.
- Grant Date - Date grant will be awarded.
- Description - Grant description. This is available as a merge field in grant letters.
- Grant Type - The grant type defaults to the Default Grant Type on the grantee. If that field is blank on the grantee, it defaults to the Default Grant Type on the granting fund but can be edited.
- Service Area - The service area defaults to the Service Area on the grantee. If that field is blank on the grantee, it defaults to the Service Area on the granting fund but can be edited.
- Amount - Grant amount.
- Conditional - Checking this box indicates that the recipient must do something in order to receive the next installment. Installments that are marked as conditional will have the expense and the payable reversed when the books are closed at year end. The reversal is made in a separate fund, so your fund statements aren't changing throughout the year. This fund can be set in Conditional Payment Fund in Grants Settings. The balance sheet will show a negative grants payable number for the Conditional Payment Fund, and the income statement will show a negative grant expense for the Conditional Payment Fund. This reversal is done when the books are closed on the last day of the year, and it is reversed on the first day of the following year.
- Expense Account - The account that will recognize the grant expense. Unless changed, it will be the assigned default expense account for grants.
- Public Donations - Checking this box allows the public to donate to your grant from the grant catalog.
- Summary - Summary of the grant that will appear in the grant catalog.
- Granting Fund - Fund distributing the grant.
- Grant Advisor - The grant advisor defaults to the primary fund advisor on the granting fund but can be edited.
- Anonymous Grant - If checked, the fund name will be Anonymous on the check and grant letter.
- If you see Add Funding highlighted on the left-side menu, the granting fund does not have enough funds to cover the grant. You will need to click Add Funding to continue. Fund the grant from the open assets of the granting fund, an internal grant from a different fund at your foundation, or from an individual donation.
- Edit the pay schedule to create multiple installments or edit the grant if needed, then click Post & Get Approval on the left-side menu.
- If Post & Get Approval is not an available option, you may need to run a charity check on the grantee.
- The grant is now in the approval bucket.
- To approve a grant, you must be listed as a grant approver on the source fund.
- Click I Approve in the left-side menu or [I Approve] next to the Approval on the grant record.
- The grant is now in the voucher bucket.
- If you don't see I Approve and I Reject and you think you should have these options, speak with your system administrator about your user permissions.
- Click [approve payment] in the Grant Payment Schedule window.
- If Auto Approve Grant Payments is enabled in Grants Settings, skip this step.
- If Auto Approve Grant Payments is enabled in Grants Settings, skip this step.
- Click [create] in the Grant Payment Schedule window to create the voucher.
- Click [pay] in the Grant Payment Schedule window to create the check.
- Make your selections then click Next.
- Select your Payment Account and Payment Date.
- In the Apply Amount column, enter the the amount that you want to apply, or check the box to pay the entire entire balance of the voucher.
- If there are multiple open vouchers, click [Options] and group the vouchers by Due Date, Fund, or Vendor.
- Select Check Run or Electronic to indicate how the grantee should be paid, enter a Memo, and click Create Checks.
