Setting Up Grant Budgets

A well-structured budget is essential for grant tracking and reporting. This guide covers how to set up budgets in GrantLink.

Understanding Budget Categories

Budget categories are the line items in your grant budget. Common categories include:

• Personnel - Salaries and wages
• Fringe Benefits - Health insurance, retirement, payroll taxes
• Travel - Mileage, lodging, conference travel
• Equipment - Purchases over a threshold (often $5,000)
• Supplies - Office and program supplies
• Contractual - Consultants and subcontracts
• Other Direct Costs - Training, communications, etc.
• Indirect Costs - Overhead/F&A

Creating a Grant Budget

Step 1: Add Budget Categories

When creating or editing a grant:

1. Scroll to the Budget section
2. Click Add Budget Line
3. Select or create a category
4. Enter the budgeted amount
5. Repeat for all categories

Step 2: Map to QuickBooks Accounts

Each budget category can map to one or more QuickBooks accounts:

1. Go to Settings > Budget Categories
2. Click a category
3. Add QuickBooks accounts that should roll up to this category
4. Save

Now transactions coded to those accounts automatically appear in the correct budget category.

Budget Modifications

Grants often require budget modifications. GrantLink tracks these:

Recording a Modification

1. Open the grant
2. Go to the Budget tab
3. Click Record Modification
4. Enter the changes and effective date
5. Add the funder approval reference (if required)
6. Save

GrantLink maintains a history of all budget versions.

Common Modification Types

• Line item transfer - Moving funds between categories
• Cost extension - Adding time without additional funds
• Supplement - Additional funds awarded
• Reduction - Funds returned or reduced

Budget vs. Actual Tracking

GrantLink continuously compares your budget to actual spending:

Budget Variance Report

See at a glance:

• Budgeted amount per category
• Spent to date
• Remaining balance
• Percentage used
• Variance (over/under)

Alerts and Notifications

Configure alerts for:

• Approaching budget limits (e.g., 80% spent)
• Over-budget categories
• Unusual spending patterns

Best Practices

1. Match funder categories - Use their terminology
2. Build in flexibility - Understand which lines can be adjusted
3. Review monthly - Catch variances early
4. Document everything - Keep modification approvals on file
5. Plan for closeout - Leave time to spend remaining funds appropriately