{"id":10,"date":"2012-08-09T14:01:47","date_gmt":"2012-08-09T18:01:47","guid":{"rendered":"https:\/\/www.gcc.mass.edu\/business-office\/?page_id=10"},"modified":"2022-09-27T14:25:08","modified_gmt":"2022-09-27T18:25:08","slug":"grants-accounting","status":"publish","type":"page","link":"https:\/\/www.gcc.mass.edu\/business-office\/grants-accounting\/","title":{"rendered":"Grants Accounting"},"content":{"rendered":"

The grants accounting staff in the Business Office work with the project directors\/principal investigators and the\u00a0Grants Office<\/a>\u00a0regarding budget account set-up, purchasing, accounts payable, payroll, travel, contracts, transfers and financial reporting.<\/p>\n

For project directors\/principal investigators just starting off, the\u00a0Grants Office<\/a> and the Business Office will be happy to sit down with you for a grants management \"how-to\" workshop. In addition, here is some information online regarding workflow and where to go for questions that you may have concerning your grants:<\/p>\n

Grant proposals initiate from the\u00a0Grants Office<\/a>.\u00a0 Once proposals are approved at the state, federal or private levels, the Business Office will receive a\u00a0grant set-up worksheet<\/a>\u00a0from the\u00a0Grants Office<\/a>\u00a0and the grants accounting staff will assign account codes to the budget.\u00a0 GCC's account codes are made up of a Fund, an Organization (cost center) and an account type (expense).\u00a0 The account codes are predetermined object codes from the\u00a0Commonwealth's Expenditure Classification Handbook<\/a>.\u00a0 Once account codes have been assigned a copy of the worksheet is sent to the project directors\/principal investigators and the\u00a0Grants Office<\/a>. It is important that these account codes are used on all payroll contracts, purchase orders and payment vouchers when submitting them to the Business Office for processing.<\/p>\n

Once you receive your budget codes from the Business Office you can start spending against it.\u00a0 All grant expenditures must be incurred during the grant period which is defined in the award letter and on the grant set-up worksheet.\u00a0 When a grant is nearing completion all expenditure lines should be closely monitored. Expenditures should only be made for items that will be received on campus before the last day of the grant.\u00a0 Likewise, all payroll contracts should end by the last day of the grant.\u00a0 Time cards against those contracts should be submitted immediately so that accurate reporting can be done by the grants accountants and submitted to the awarding agencies within their reporting requirements.<\/p>\n

All grant purchases must run through GCC's\u00a0purchasing department<\/a>. Purchasing works with our accounts payable department<\/a>\u00a0to make sure that invoices are paid once items have been received.<\/p>\n

Hiring procedures should be obtained from\u00a0Human Resources<\/a>.\u00a0 This office can provide you with assistance for job postings, pay rates, contract forms and benefits. Our payroll staff<\/a>\u00a0are also available to answer questions regarding an individual's payroll, time and attendance and forms.<\/p>\n

The Business Office grants accountant will send you updated expenditure reports monthly. These reports will show summarized expenditures by account codes, transactions details, and available balances.\u00a0 These reports should be reviewed and questions regarding them should go to the Business Office grants accountants.\u00a0 For individuals that would like to track their grants online, Banner budget training is available by completing the\u00a0Banner budget access form<\/a>\u00a0and getting the proper training from the Business Office.\u00a0 If you seek to make significant changes to your original budget, contact the\u00a0Director of Grants and Government Relations<\/a>\u00a0within the\u00a0Grants Office<\/a>.<\/p>\n

Documents<\/h3>\n