Tracking program income

  1. Create global ledger accounts for program income. These income types are required:
    • Additive program income revenue
    • Deductive program income revenue
    • Deductive program income expense
  2. Create an alternate chart of accounts for projects. The chart of accounts must only include project accounts.
    The projects chart hierarchy is a subset of the enterprise chart hierarchy. For example, the chart includes project direct and indirect expenses, and project revenue accounts. A project chart is required for project reporting, project budget edit, and tracking. Include the additive and deductive accounts in the budget group for summary accounts.
  3. Verify that the project chart is assigned to these items:
    • Project report setting parameters
    • Global Ledger account analysis settings that are used for project cost analysis
    • Reporting basis that is assigned to the project budget
    • Reporting basis that is used for project reporting in Infor BI
  4. Create a separate posting project on the project contract to track program income, revenue, and expenses. Both additive and deductive program income on posting projects must be flagged as Billable and Include In Budget Edit.
  5. Create a funding source eligibility group for the federal grant. Create a group where the expense account for deductive program income is excluded from the federal grant billing.