For finance and accounting teams
Close every grant month. Walk into the audit with the schedules done.
Keep your accounting system. Upload the general ledger and get claims, releases, findings and journal entry files back each month, then the SEFA and year-end schedules your auditors ask for.
Part of Grants + Finance. Your independent auditor performs the audit; we help you prepare for it.
- No migration
- Journal entry files for your system
- Preparer and approver on everything
- General ledger loaded through Oct 31Done
- Findings reviewedDone
- Grant costs reclassedDone
- Grant AR claims approved2 of 3 approvedIn progress
- Releases from restrictionNext
- Month locked on the grant scheduleNext
Grant AR
Every grant billed every month, held to its budget and its award.
Cost-reimbursement grants get a claim for allowable spending to date, less everything billed before. Grants paid on a schedule bill a straight-line amount, and a missed month catches up the next.
- Grants prepares, finance approves. Nobody approves their own claim.
- Ready for your books. A journal entry import file and a backup workbook for each export.
- Invoices and aging. Send funder invoices, record payments and see what's past due.
Approved
Approved
Ready for finance
Restrictions and recognition
Release what's earned and document why, before anyone asks.
Releases from restriction
Purpose restrictions release as you spend, held to the gift and to what the funder has paid. Time restrictions release evenly over the period. Anything already booked counts, so nothing releases twice.
Revenue recognition memos
Each award gets a written memo on how it's recognized: conditional, restricted or an exchange, and why. Approved memos combine into one file for the auditors.
Time and effort
Personnel time is reported after the fact and signed by the employee and a supervisor. Payroll is compared with time, and the true-up entry is built for you.
Monthly checks
Every grant checked against its own terms, every month.
Load the general ledger and each confirmed grant is tested against what its agreement allows: the period of performance, allowable costs, budget limits, indirect caps and more. You see the GL lines behind each finding, accept or reject it with a note, and export proposed entries that balance.
- Decisions stick. A finding you've reviewed stays reviewed when checks run again.
- Nothing half-posts. An entry that doesn't balance stops the export.
SEFA and Single Audit
A SEFA built from your records, with the Single Audit question answered.
Federal expenditures come straight from the grants you track, with listing numbers, pass-through entities and identifying numbers, clusters and amounts passed to subrecipients. Checks run before export, and the schedule flags when your federal spending crosses the Single Audit threshold for that fiscal year.
- Prepared and approved by two people.
- Excel and PDF, with the notes the schedule needs.
| Program | ALN | Expenditures |
|---|---|---|
| 21st Century Community Learning CentersPass-through · ID on file | 84.287 | $612,480 |
| Juvenile Mentoring ProgramDirect · $15,000 to subrecipients | 16.726 | $301,775 |
| Child and Adult Care Food ProgramPass-through · ID on file | 10.558 | $118,930 |
| Summer Food Service ProgramChild Nutrition Cluster · pass-through | 10.559 | $92,875 |
| Total federal expenditures | $1,126,060 |
Year-end schedules and requests
Import the auditor's request list and answer it from your records.
Upload the list as Excel, CSV, PDF or a photo. Requests the app can answer are matched to a schedule: the SEFA, grants receivable and aging, billings and payments, budget against actual, net assets with donor restrictions and the monthly grant schedule. Attach your own files to the rest and send it back in the auditor's format.