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What are Grants in NetSuite’s Non for Profit Environment?

Posted by Sara Duong, Consultant on May 16, 2024 10:00:00 AM
Sara Duong, Consultant
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A NetSuite Grant, in a nutshell, is a custom segment. The custom segment is used to track Grant information and to further segment out or classify your financial statements or any of your reporting data. Below is a quick walk through of how to create a Grant and how it impacts your financial statements.


Grant Set Up

To set up a Grant, go to the NFP Financial Center tab and go to Grant Management. Click Grants; this will show you a list of all the existing Grants in your system.

From this page you can click on the New button to create a new Grant. Input your Grant information.

  • At the minimum, you will need to enter in a name.
  • Under the Primary Information section are all the standard data for that Grant.
  • The Classification section are segmentation that you define for reporting needs.
  • Other Information section allows you to add more Grant specific information.


How Are Grants Being Used

Grants are used to associate related transactions, such as Pledges and Bills. In the Non For Profit NetSuite environement, Sales Orders are called Pledges. In the below screenshots, you can see that the Grant field is a segmentation on the line level.

As a result of adding Grants to the transaction, you can now segment out your financial statements by Grant. This allows you to understand the financial impact of each Grant.

If you are looking to implement or have questions about NetSuite’s Non For Profit environment, please reach out to us. Our consultants will be happy to assist you.



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Tags: NetSuite, ERP, Reporting, NetSuite Partner, NetSuite How To's, NetSuite Tips, Financial Report, Grant

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