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As the only cost allocation
module specifically designed for the
public sector and not-for-profit organizations,FundWare Allocation Management
will bring unparalled levels of speed
and ease to your indirect costing process.
Allocation Management maximizes
your cost recovery against grants and contracts.
It automates the processes of allocating
revenue earned for pooled investments and
re-costing shares in investment pools. And,
as part of the overallFundWare solution,
it integrates seamlessly with the General
Ledger and Project/Grant modules (sold separately).
If your organization receives grants or contract
revenue, Allocation Management can help you
easily manage your absorption accounting
and indirect costs.
Allocation
Management gives you the power you need
to:
- Allocate indirect costs
based on grant or contract-specific indirect
cost rates, as well as your organization’s
internal indirect cost rates.
- Choose from multiple flexible
methods for indirect cost distributions,
including dynamic percentages, fixed/predetermined
percentages, and user-defined tables.
- Customize distribution formulas
with FundWare’s flexible programming
language.
- Monitor indirect cost limits
automatically, avoiding overcharging funding
sources.
- Include/exclude allowable
expenses based on FundWare’s
flexible account attributes.
- Allocate according to your
schedule by defining the time period for
which allocations are generated.
- Run historical allocations
that redistribute previous amounts based
on new business rules.
- Provide a strong audit trail
to support your indirect cost methods and
A133 audits.
- Choose from flexible methods
for allocating interest earned, such as
dynamic calculation of fund cash balances
at period end, or average daily balances.
- Easily allocate fund revenue
by percentage of principal or number of
shares owned.
- Recalculate unit price based
on new market values and update number
of shares owned for each fund.
- Eliminate the need to maintain
large spreadsheets, saving time and avoiding
errors.
Total Control of Your Allocations
Allocation Management effectively allocates indirect costs at grant/contract-specific
rates and automatically tests for “not to exceed” limits, reducing
the likelihood of overcharging funding sources. With this powerful automation
and a complete audit trail, you can now aggressively recover your indirect
costs from external funding sources.
FundWare Allocation
Management easily accommodates your own methods
of indirect cost distribution. Plus, with
the many other methods allowed by Allocation
Management, you may discover a better methodology
to recover indirect costs. One of the most
powerful methods supported by FundWare
Allocation Management is the ability to calculate
dynamically built percentage-of-total tables.
These dynamic tables can calculate
percentages based on a wide variety of data,
such as percentage of total payroll, number
of hours worked, allowable expenses for the
period, and net-to-date. Additionally, with
Allocation Management you can perform multi-step
allocations, basing an allocation on the
results of a previous allocation.FundWare Allocation Management also allocates
indirect costs based on a fixed or predetermined
rate, as well as allocations based on last
year’s budget, budget percentage to
total costs, and other budget-based costing
methodology.
Users can review allocations
prior to posting to FundWare’s
General Ledger or Project/Grant modules through
Trace Reports, which illustrate the steps
that Allocation Management performs automatically.
Manage Your Investment Pools
and Earned Revenue
For those organizations using an investment pool to maximize investment returns,
allocating earned revenue to each fund can be a time-consuming process. With
Allocation Management, you can easily create formulas that automatically distribute
revenue amounts based upon different factors, including:
- Average daily cash balance
- Fund balance at end of allocation
period
- Number of shares owned
- Total asset value at end
of allocation period
For organizations that use
a unitized share method for investment pools,
Allocation Management can adjust unit prices
based on new market values, as well as reallocate
the number of units/shares among the funds,
donors or other entities.
Eliminate Spreadsheets,
Increase Productivity
FundWare Allocation Management increases your organization’s productivity
by eliminating the effort of maintaining cumbersome spreadsheets built outside
of the accounting system. Because it reads directly from the FundWare
General Ledger and Project/Grant data, all information used for allocations
is up-to-date and accurate. By automatically creating the necessary journal
entries (with preview capabilities prior to posting), accuracy and a full audit
trail are built in. This is of great benefit if you require A133 audits.
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