What Other Project Accounting Setup Should I Consider for Grant Management?

Burdens and Allocations

You can use the Project Accounting application's burden or allocation functionality for fringe and facilities and administration (F&A) costs on applicable grants. Burdens are recommended since they are automatically generated whenever you post transactions, giving you timely, accurate, and complete costs for reporting, billing, and revenue recognition. For more information, see Burdens (AC/BR/GM) and How Can I Handle Fringe Costs?.

Award Budgets

Budget checking rules are established in activity groups and account category structures. You can enter budgets directly into Project Accounting, or import them. What Are Methods for Defining Budgets?

Attribute Matrix

Lawson provides many pre-defined activity attributes, including attributes specific to grants such as contract number, direct sponsor award number, and award close date. You can also create and populate your own user-defined attributes. You can use attributes to group activities into sets to use for selecting data for reports, inquiries, or processing. For example, you can create a list of activities based on the letter of credit attribute. You can then use that list in Accounts Receivable to apply cash by letter of credit.

For information about system-defined attributes and creating user-defined attributes, see the Project Accounting User Guide.