Maximize Reimbursement with Accurate Cost Allocation

Most public sector organizations receiving grant or contract revenue needFundWare Allocation Management for full absorption accounting and management of indirect costs. 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. Through easy automation and strong 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 even net-to-date. Additionally, with Allocation Management you have the ability to 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 the FundWare system through Trace Reports, which illustrate the steps that Allocation Management performs automatically. Shown below is a sample Trace Report of grant-specific indirect cost distribution.

Customize your Unique Benefits and Deductions within the Standard Payroll SystemFundWare Allocation Management has been designed for allocating indirect costs and distributing 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, such as:

• 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 reallocating the number of units/shares among the funds, donors, or other entities.

Increase your Staff’s Productivity by Eliminating SpreadsheetsFundWare Allocation Management increases your organization’s productivity by eliminating the effort of maintaining massive 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 full audit trail are built in.