Grant Opening balances

[Former Member]

Dear Grants Management experts

We will soon go live with grants management.

Can you please let me know how to enter the Actual opening balances for each Grant and Sponsor Class? Is there any way to do it without posting FI entries? In other words, is there any way to affect table GMIT without posting to FI?

Thanks in advance.  

[sjajodia]

Christos,

Since GM is a special purpose ledger, you could potentially make direct postings to the ledger. I would certainly not advise this as the balances include open items (e.g. AP invoices) which should exist in both FI and the GM SPL.

What is your hesitation with making postings through FI?

Thanks

Shyam

[Former Member]

Issue 1: The actuals include postings from previous years as well. For example, Grant 1 has travelling expenses of 10000 Euros (3000 in 2013, 7000 in 2012). I cannot post an opening balance for travelling 10000 through FI but I need to update the Grant actual travelling expenses somehow.

Issue 2: We have currently like 350 Grants up and running with 30 different grant types, with different  sponsored classes and sponsored programs. It will be very difficult to update their actual balances through FI.

[sjajodia]

Christos,

You can certainly post prior year cumulative balances through FI for conversion in the prior year. GL Accounts need to be linked to Sponsored Classes through GMDERIVE. Update Settings for GL Accounts need to be configured. You can then post an entry to debit the Travel Sponsored Class and credit a retained earnings account. You do the same with revenues, assets and liabilities. After that you execute a carry forward in FI to the current year.

On your second issue it seems to me there are two many grant types but in any case this does not stop you from converting prior year balances.

Thanks

Shyam

[Former Member]

Hi

This is sai i'm not getting the exact idea about the issue i will try  to  resolve u r issue but i need some time  but other than fi u r using any other module