A company should have a grant expense tracking spreadsheet that tracks all expenses. The main reason is to ensure that the company does not spend money that is not needed, and to prevent wasteful spending. However, the spreadsheet must be detailed enough to report all expenses in an easy-to-read format.
Excess expenses can be attributed to a variety of reasons, such as overhead, which could be the cost of rent, utilities, office supplies, etc. So the expenses can include items that would not be considered “expenses.” But, they are an important part of the business’ bottom line.
Expenses are categorized in two ways: actual and estimated. Actual expenses are those costs that have been incurred and are paid for within the projected time frame. Estimate expenses are those that have not yet been incurred but are necessary for the operation of the business.
Why You Need A Grant Expense Tracking Spreadsheet
Next, each employee position is assigned a column and row. The positions include both regular and temporary. If a permanent position is created or more than one employee is added to the payroll, the spreadsheet must be split between the two types of positions. In this case, the calculation will be more difficult.
A spreadsheet must contain an area for entry of information pertaining to grants that have been awarded. This includes an area for each grant type. It should also have information on the amount and term of the grant, as well as a column for the specific grant number. It is also important to note that some grants come with conditions attached.
Some grant types may require that certain items be provided. For example, those who are awarded technical assistance grants must provide a computer system. The spreadsheet must also include information on how to send information to the grant administration.
Once the data has been entered, the spreadsheet must be organized so that it is easy to find the information that you need. There are several ways to accomplish this. However, the easiest way is to create a separate column for each grant type and then group them by category.
There are a variety of free grant management software programs available, including the popular Grant Aid, which is free to use. Grant Aid has a powerful and flexible reporting facility, including the ability to create detailed reports, create spreadsheets for all of your grants, and download information from other programs.
Although Microsoft Excel provides a free and easy way to manage expense tracking, there are many advantages to using Grant Aid. One of the major benefits is that it is very simple to use. As a result, the spreadsheet is easy to manipulate.
Although the spreadsheet must have an area to enter the expenses that occur during a specific grant period, it is even more important to have an area for creation of a maintenance record of grant expense tracking. Such a record can be created using Microsoft Access or any other spreadsheet program. All the information that is entered into the spreadsheet must be saved in the right format.
Of course, the information must be available at any time to employees who require it. When a new grant is awarded, information must be saved in the right format, including the grant number and category. Since a database is used to keep track of information, a backup copy of the data is also needed. LOOK ALSO : grain inventory management spreadsheet