Suppose your organization has a set of grantors – often a government department, corporation, a foundation, or just a natural person, and a set of grantees – often a person, natural (scholar, awardee, etc.) or juridical (a school, family, office, etc.). The challenges you have are getting the grant and showing how you use it appropriately (and completely).
Akubo can help you track how grants are disposed as grantors often want timely reports – a criterion for renewal of application of grants.
These tips will enable you to show how you have effectively and efficiently implemented the previous year’s grant. Your chances of getting next year’s grant will naturally be higher.
The Department of Finance funded your organization via the National Education Assistance Grant, NEA Grant, the amount of P 300,000.00 such that you have to appropriate the grant equally (P 100,000.00 each) to three (3) scholars in the mountainous regions of Mindanao. You identify Juan, Pedro and Jose as the lucky scholars.
Tracker 1: Track NEA Grant as an Income.
Follow the steps in adding a donation. For example:
Tracker 2: Track the progress in awarding the grant.
This is necessary when the grant is in the process of being awarded to Juan, Pedro and Jose. This will more likely help the Accounting Department.
Add a Case for Juan, Pedro and Jose, respectively. For example:
Once cases are added, your Task & Cases window will look like:
Notice that for Juan, there are additional notes (you can easily add notes by clicking on Notes button).
Tracker 3: Track awards as Expense.
Track awards as expense by following the steps in adding a donation, but this time, selecting the expense type as follows:
There may be instances when you do not necessarily have to award the entire P 100,000.00 to your scholar, such as when Jose files for individual disbursement vouchers, say for Dormitory Fees, Food Allowance, Uniform Allowance and Miscellaneous expenses. Simply track each of these as an expense and don’t forget to add a case for Jose and just change the category accordingly.
Jose’s Transactions will more likely be similar to the following:
Tracker 4: Track balance of Grant.
Recall in Tracker 1 that you defined your Category, Account and Campaign for the grant transactions (income and expense entries).
You can create a transactions listing per Category, Account and Campaign, from the main page.
and you can easily see the transactions list as follows:
You can also export this into an Excel/CSV file by clicking All, Select Action and then Export:
Tracker 5: Generate Reports. Reports are automatically generated in Akubo. If you are in the process of submitting your monthly report to your immediate superiors or it has been a year and DoF would like to know how the NEA Grant has been spent, you just go to the Reports page and click the necessary transactions and expense.
Based on the scenario above, your report will be similar to the following:
Additionally, if the grantor (DOF) wants to see the case reports which will detail how and when the grants were awarded, you can do an export of the Cases to an Excel/CSV file (go to the Import & Export page and choose “Tasks & Cases to CSV”).