Setting Up Program Income

Program income is often anticipated and can be planned for in the structure of a grant activity. You associate the activity and program income posting activity on Program Income (GM01.3). As program income is earned, revenue will be generated and can be tracked in the program income activity.

To set up program income

  1. Access Program Income (GM01.3).
  2. Select the contract activity for the grant. The activity must be set as an award (the Award field is Yes on Activity (AC10.1), Award tab).
  3. Map the program income activity to the contract activity. Use the following guidelines to enter field values.
    Income Activity

    Type or select the program income activity. This must be a posting level activity, however it does not have to be under the contract activity.

    Type

    Select the type of program income:

    • Additive (A)—Program income generated on a project that is available in addition to the amount of funding provided by the project sponsor.

    • Deductive (D)—Program income generated on a project that reduces the amount available from the sponsor.

    Note: This field is informational only. Budget and contract amounts must be updated manually for program income received.
    Invoice

    Select Yes to track program income and print the current invoice amount and the life to date amount on the invoice.

    Note: Amounts only print on the customized invoice format, not on the standard invoice.