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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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