Grants Management

Our recommendation is to leverage Custom Segments combined with Custom Records to manage your Grants. However, if you have heavy needs to track time (using timesheets) and expense reports against Grants, you may consider using the project record in combination with the Custom Segments.

For more information on how to configure Custom Segments and to setup Grants visit Session 2: Chart of Accounts and Data Migration, Session 5: Projects, Accounts Payable and Checks and Session 6: Accounts Receivable, Cash Sales and Budgets.

We recommend using custom segments because it will allow you to include those custom segments as filters or custom columns on your financial reports as well as build simple saved searches with segmentation.

An overview simplest model for tracking grant revenue & expenses in NetSuite is below.

Create a Custom Segment for Grants and add a value for each grant (eg. 2009 HIV Grant).
- Be sure to add the Grant Custom segment to the Transaction Column to allow you to specify the grant at the item level.
- When you create the Custom Segment you also create a Custom Record for Grants
Edit the Grant Custom record to have a field for Customer to link the Grant to the Customer (Funder)
Customer record= Gates Foundation

Receive the revenue (cash sale) and at the item level specify the grant

Record expense and specify the grant at the item level.

Use the income statements and other financial reports (with the custom segments added) to track revenue and expenses on a per grant basis. To learn about including custom segments in your reports and saved searches read Session 7: Searches and Reports.