Schedule Grant Payments

Written by Nick Miles

Last published at: January 16th, 2020

Break one payment/installment into multiple payments/installments with unique payment dates.

  1. Select Grants from the Home page.
  2. Select the grant ID number.
  3. Click Edit Pay Schedule.
  4. Add or edit a Payment Date(s), Amount(s), and check or uncheck the box next to Conditional. Conditional payments are those in which the recipient must complete an action before they can receive the payment/installment.

    Conditional Payments

    • Conditional payments are those in which the recipient must complete an action before they can receive the payment/installment. 
    • When the books are closed at the end of the year; installments that are marked as Conditional (Yes) will have the expense and the payable reversed at year end. The reversal is made in a separate fund, so your fund statements aren't changing throughout the year. 
      • This fund can be set in System Data -> Grant Options -> Conditional Payment Fund.
    • The balance sheet will show a negative grant's payable number for the Conditional Payment Fund, and the income statement will show a negative grant expense for the Conditional Payment Fund.
      • This reversal is done when the books are closed on the last day of the year, and it's undone on the first day of the following year.