Correcting Grants

Correcting Grants

Unlike cancellations and Refunds, corrections are intended to fix errors, rather than to record a formal event that is identified in Grant history reports.

Grant Corrections allow you to change the Fund and Amount for posted Grants (whether the Grant Voucher has been posted or not), and the Grantee, Payment Date, Grant Date and Number for any Grant. The Fund and Amount corrections will produce a Recap report and (since they affect G/L) leave a full audit trail.

NOTE: You can access all of the correction utilities via the Adjustments tab on the Application History supertab.

Correcting Funds

This process allows you to move the liability for a posted, and unpaid Grant from one Fund to one or more new Funds. It also allows you to move all or part of the payment for a posted and paid Grant from one Fund to one or more new Funds.

If the Grant Voucher has not been posted, it will be modified to reflect the change. If the Voucher has been posted, a Debit Memo will be created. When you complete this process, FIMS automatically creates the appropriate G/L Journal entries for the Fund correction.

NOTE: After you run this process, you will have to post the updated Grant Voucher to record the correction.

NOTE: Paid Fund corrections are identified as error corrections and should not be itemized in Grant History reports.

1. In the Grantee and Grant Management module, click the Application History supertab, and then click the Adjustments tab.

2. Select Grant Adjustments, and then click the Run Process button. The Grant Adjustments window opens.
 
Grant Adjustments Window-Fund Correction

3. Enter the Grant Number for the Grant you want to correct. The default value is that of the last posted Grant record that was open in the module.

NOTE: If you are not sure of the Grant Number, click the Lookup button next to the Grant Number field to select from a list of posted Grants. 

4. In the Apply Date field, enter the desired apply date for the correction. The default value is today's date.

5. Click the arrow in the Status drop-down box and select the desired code to apply to the adjusted Grant (for example, FN – Fund New). This code will help make identification of refunded Grants easier when you run reports and inquiries.

6. Enter a Reason for Adjustment. This is helpful in tracking trends in your grant adjustment process.

7. Enter the New Fund for any or all of the Grant Payment Plan lines.

NOTE: If you are not sure of the Fund, click the arrow in the New Fund drop-down to select from a list of Funds.

8. (Optional) If you also want to change the amount, enter the desired amount in the New Amount field. 

9. (Optional) If you want to change the expense or cash accounts for the grant, enter the desired Expense / Revenue Account or Cash Account. 

10. Click the Process Adjustment button. The Grant Adjustment Verification Report opens in the FIMS Viewer.
 
Example: Grant Adjustment Verification Report (Fund Correction)

11. Once you have reviewed the report and are sure you want to process the adjustment, click Commit Changes on the FIMS Viewer menu bar. 

Correcting the Grant Amount

This process allows you to change the unpaid Grant Amount for a posted Grant. You can either increase or decrease the amount, or completely eliminate the Grant.

When you complete this process, Grant History will be updated and an A/P Voucher will be created that will modify the payable amount when it is posted.

NOTE: It may sometimes be useful to be able to increase the Grant Amount for a Grant that has already been paid. To do this, you can manually enter and post the negative Debit Memo, and then run the Amount Correction without creating a Debit Memo. Contact FIMS Support for help with this process or to learn more about an override technique for correcting the amount of a paid Grant.

1. In the Grantee and Grant Management module, click the Application History supertab, and then click the Adjustments tab.

2. Select Grant Adjustments, and then click the Run Process button. The Grant Adjustments window opens.

Example: Grant Adjustments Window for Amount Corrections

3. Enter the Grant Number for the Grant you want to refund. The default value is that of the last posted Grant record that was open in the module.

NOTE: If you are not sure of the Grant Number, click the Lookup button next to the Grant Number field to select from a list of posted Grants. 

4. In the Apply Date field, enter the desired apply date for the refund. The default value is today's date.

5. Click the arrow in the Status field and select the desired code to apply to the adjusted Grant (for example, A = Amount Correction). This code will help make identification of corrected Grants easier when you run reports and inquiries. 

6. Enter a Reason for Adjustment. This reason will be included on the Grant Cancel / Refunds report and is helpful in tracking trends in your grant adjustment process. 

7. If there is more than one payment line, select the line you want to adjust. 

8. Select the Amount Correction radio button. 

9. Select the desired payment line (if there is more than one), and enter the desired amount in the New Amount field. 

10. Click the Save button on the toolbar above the payment lines. 

11. Click the Process Adjustment button. The Grant Adjustment Verification report opens in the FIMS Viewer. This report verifies the adjustment information that you entered, and provides information about the steps that will be taken if the adjustment is fully processed (e.g., debit memos that will be created).

Example: Grant Adjustment Verification Report (Amount Correction)

12. Once you have reviewed the report and are sure you want to process the adjustment, click Commit Changes on the FIMS Viewer menu bar. 

Correcting the Grantee

This process allows you to change the Grantee for a posted Grant.

This change will affect Grant History and the Payee in Accounts Payable for unposted Vouchers (when the Grantee and the Payee are the same). 

1. In the Grantee and Grant Management module, click the Application History supertab, and then click the Adjustments tab. 

2. Select Correction – Grantee, and then click the Run Process button. The Grantee Correction window opens.
 
 Grantee Correction Window

3. Enter the Grant Number for the Grant you want to update. The original Grantee, Grant Amount and Grant Date appear in the Verify Grant Information section. 

NOTE: You cannot change the information in the Verify Grant Information section. It is provided for informational purposes only. 

4. Enter the ID code for the New Grantee. If you are not sure of the ID code, click the Lookup button (looks like a magnifying glass) next to this field to select from a list of available Grantees. 

5. If you want FIMS to update the Payee information to match the new Grantee, select the Update Payee Information checkbox. This checkbox is selected by default. 

6. Click OK. A message appears to inform you that the Grantee information has been changed. 

Correcting the Grant Date

This process allows you to change the Grant Date for a posted Grant. This is useful if, for example, you want to retroactively shift the Grant Date to the period or year when the expense was posted.

NOTE: This change will update Grant History, but has little effect on Accounts Payable and no effect on General Ledger. If necessary, you can make manual General Ledger Journal entries to adjust General Ledger. 

1. In the Grantee and Grant Management module, click the Application History supertab, and then click the Adjustments tab. 

2. Select Correction – Grant Date, and then click the Run Process button. The Grant Date Correction window opens.
 
Grant Date Correction Window3. Enter the Grant Number for the Grant you want to update. The original Grantee, Grant Amount and Grant Date appear in the Verify Grant Information section. 

NOTE: You cannot change the information in the Verify Grant Information section. It is provided for informational purposes only. 

4. Enter the New Date. 

5. Click OK. A message appears to inform you that the Grant Date has been changed. 

Correcting the Payment Date

This process allows you to change the Payment Date (on the Payment Plan tab) for a posted Grant. This is useful if, for example, you want to retroactively shift the date to the period or year when the expense was posted.

NOTE: This change will update Grant History, but does not change the total grant – only the payment date. 

1. In the Grantee and Grant Management module, click the Application History supertab, and then click the Adjustments tab. 

2. Select Grant Adjustments, and then click the Run Process button. The Grant Adjustments window opens.
 
 Example: Grant Adjustments Window for Payment Date Corrections

3. Enter the Grant Number for the Grant you want to correct. The default value is that of the last posted Grant record that was open in the module. 

NOTE: If you are not sure of the Grant Number, click the Lookup button next to the Grant Number field to select from a list of posted Grants.

4. In the Apply Date field, enter the desired apply date for the adjustment. The default value is today's date. 

5. Enter a Reason for Adjustment. This reason is helpful in tracking trends in your grant adjustment process. 

6. Select the Payment Date radio button. 

7. Select the desired payment line (if there is more than one), and enter the desired date in the New Date field. 

8. Click the Save button on the toolbar above the payment lines. 

9. Click the Process Adjustment button. The Grant Adjustment Verification report opens in the FIMS Viewer. This report verifies the adjustment information that you entered, and provides information about the steps that will be taken if the adjustment is fully processed. 

10. Once you have reviewed the report and are sure you want to process the adjustment, click Commit Changes on the FIMS Viewer menu bar. 

Correcting the Grant Number

This process allows you to change the Grant Number that is used to identify the Grant. You can change the number for posted or unposted Applications, regardless of whether they are approved, denied, or withdrawn.

NOTE: The new number must be unique (not used by any other Grants) and should follow the same format as all of your other Grant Numbers. 

1. In the Grantee and Grant Management module, click the Application History supertab, and then click the Adjustments tab. 

2. Select Correction – Grant Number, and then click the Run Process button. The Grant Number Correction window opens.
 
Grant Number Correction Window

3. In the Select Grant and Table section, select either the Posted Grant Application or Unposted Grant Application radio button to indicate the type of Application you want to update.

4. Enter the current Grant Number for the Application you want to correct. The original Grantee, Grant Amount and Grant Date appear in the Verify Grant Information section. 

NOTE: You cannot change the information in the Verify Grant Information section. It is provided for informational purposes only. 

5. Enter the new Grant Number. You can click the Lookup button next to this field to automatically assign the next available Grant Number. 

NOTE: Clicking the Lookup button to use the system-assigned Grant Number helps to ensure that you will not receive any errors during future Application entry sessions (for example, if you try to create a new Application that uses the same Grant Number you assign here). 

6. Click OK. A message appears to inform you that the Grant Number has been changed. It also gives you the option to change additional Grant Numbers.