Archive for the
‘GMS Inc’ Category

In the last blog we addressed the reports you could be providing to your Board of Directors. Now, we will be focusing on information you should be providing your Program Managers/Directors. Although you can’t expect your program staff to be fiscal people or completely understand the chart of accounts structure to the extent a member [...]

In addition to the obvious goal of having your nonprofit accounting software provide you with timely and accurate information, another just as important goal is to distribute this information in a format that is both easy for the recipient to understand as well as help them do their job or provide you with the service [...]

By Bob Joyce, Professor of Public Law and Government, University of North Carolina At Chapel Hill & Drake Maynard, Faculty, School of Public Health, University of North Carolina at Chapel Hill If you go to work for someone else, the odds are great that you are an employee at will. That’s the basic rule almost [...]

We often receive questions regarding how to handle interest only loans. These loans aren’t much different from a loan that is going to start making full payments right away. The only difference is the amount of payment they are going to make in the first months of the loan. Of course, there are some ramifications [...]

Do you have grants and contracts that end at various times during your fiscal year? Are you required to submit final financial reports for these programs prior to your fiscal year ending? Do you use actual rates determined by using a year-to-date base for any of the allocation pools such as leave, fringe benefits, indirect [...]

Do you have program costs that benefit a specific set of programs and you are allocating them using an arbitrary base, or worse yet, based on budget? If so one of these supplements may be of great use to your organization. The basic premise of both of these supplements is the same: They give you [...]

Some grants and/or contracts may require you to report all of your indirect costs for their program under one specific element such as Administration. If this is true for your agency, Supplement #383 Shift Indirect Costs can accomplish this. Note: This supplement does not affect or change the normal allocation of your indirect costs that should be [...]

The first three articles of the Cost Allocation Series explained the mechanics of the Leave, Fringe and Indirect Cost pools. Once you understand how the pools gather the information and create the individual rates, this knowledge can be used to follow your organization’s cost allocation procedures through the GMS software and provide you with the details [...]

Note: the following article is based on an allocation procedure where the actual indirect cost rate is used rather than a fixed rate. The third pool that is included as part of the basic GMS Nonprofit Accounting and Financial Management System is the Indirect Cost Pool. The Indirect Cost Pool is a way to allocate your agency’s [...]

Note: the following article is based on an allocation procedure where the actual fringe benefit rate is used rather than a fixed rate. The second pool that is included as part of the basic GMS Nonprofit Accounting and Financial Management System is the Fringe Benefit Pool. As with the Leave Pool discussed in the June 2012 newsletter, [...]