Grant accounting software can make a difference in your grant management operations. The IT Works post-award Grant Accounting Software Solution supplements your institution’s general ledger or ERP system.  Teams gain access to superior reporting, maintains budgets and balances for multi-year projects, and calculates and encumbers projected personnel costs.  Additional features include the calculation of F&A costs, support for multiple corporate entities, and user defined coding systems for tracking special commitments.  Administrators, principal investigators and other key personnel  can access power managerial reports via an intuitive, web-based interface.

Grant Accounting Software Supplements Your Institution’s General Ledger System

Supplement your GL transaction information with additional information to create a comprehensive post award management platform. GL transactions can be electronically populated via an interface to an existing system or manually entered. Examples of interfaces include:

  • General Ledger (GL)
  • Payroll
  • Purchasing

When implemented with an electronic interface, the Grant Accounting Software Solution functions like a parallel system. When transactions are manually entered, it becomes a shadow system. Examples of additional information that supplement the GL include:

  • Projected salary encumbrances / commitments
  • Soft encumbrances
  • User-defined coding systems
  • Attached documents

IT Works Grant Accounting Software Provides Improved Reporting
Designed from the ground up for grant and project management, the system’s reporting function is superior to standard GL systems, heightening your institution’s decision making capabilities. IT Works reports include:

  • Projected salary and benefit encumbrances
  • Coding systems for tracking special commitments
  • Coding systems for specialized data tracking and report rollups
  • Soft encumbrances
  • Encumbrances for indirect or F&A costs

Provide Formats for Administrators, Project Managers, Faculty, and Principal Investigators

Support Grant Based Budget Periods Not Aligned With the Fiscal Year

  • Reporting by Individual budget or project periods
  • Analysis of projects with different reporting periods
  • Archiving of historical  accounting data

Grant Accounting Software for Projection and Commitment of HR Costs
Management of personnel costs is at the heart of the IT Works Grant Accounting Software Solution. Since personnel costs account for up to 80% of most grant budgets, a salary and benefit projection system allows administrators to:

Cost Accounting and User Defined Coding Systems for Tracking Special Commitments
Internal, user controlled coding systems provide cost accounting and tracking for special commitments, allowing you to track and manage the following:

  • Internally Sponsored Research
  • Faculty Startup Funds and Allowances
  • Sub-Accounts

Web-based Grant Accounting Software for Principal Investigators and Senior Staff
The power of grant accounting software is available anytime, anywhere. An easy to use, web-based reporting portal offers special reporting functions for principal investigators. It requires virtually no training and delivers our most popular reports to faculty and researchers without the involvement of administrative staff. Highlights include:

  • On-line Banking Type Drilldown System
  • Multi-Tiered Security System
  • Summary, Detailed, and Burn Rate Reports
  • Access to Personnel Information and Recharge Center Invoices
  • Virtually No Training Necessary

Support for Multiple Corporate Entities
The IT Works Grant Accounting Software Solution supports different account structures for managing corporate entities (such as Physician Practice Plans, Research Foundations, and Affiliated Hospitals), managing hard money and producing consolidated management reports.