The IT Works Grant Accounting Solution supplements GL transaction information with additional information to create a comprehensive post award management platform. GL transactions can be electronically populated via an interface to an existing system or manually entered. Examples of interfaces include:

• General Ledger (GL)
• Payroll
• Purchasing

When implemented with an electronic interface, the IT Works Grant Accounting Solution is often referred to as a parallel system. When transactions are manually entered, it may be considered a shadow system. Examples of additional information that supplement the GL include:

• Projected salary encumbrances / commitments
• Soft encumbrances
• User-defined coding systems
• Attached documents

The IT Works Grant Accounting System was designed from the ground up with respect to grant and project management and provides superior reporting over standard GL systems to drive better decision making. IT Works reports:

Include data not otherwise available

Provide formats for administrators & principal investigators

Support grant based budget periods not aligned with the fiscal year

Management of personnel costs is at the heart of the IT Works Grant Accounting Solution. Since personnel costs account for as much as 70-80% of most grant budgets, a salary and benefit projection system allows administrators to:

• Commit or encumber projected personnel costs by individual or groups of projects or employees
• Project personnel costs by project budget period
• Calculate fringe benefits
• Perform “what if” scenerios
• Generate projection reports that provide:
  • Summary by Project
  • Monthly Projected Expenses by Project
  • Monthly Projected Expenses by Employee
  • Projections to Actual Comparisons
  • User defined report formats

The IT Works Grant Accounting Solution provides internal, user controlled coding systems for cost accounting and tracking special commitments. It can be used for tracking and managing:

• Internally Sponsored Research
• Faculty Startup Funds and Allowances
• Sub-Accounts

The IT Works Grant Accounting Solution includes an easy to use, web-based reporting portal for principal investigators. It requires virtually no training and delivers our most popular reports to faculty and researchers without the involvment of adminstrative staff. Highlights include:

• On-line Banking Type Drilldown System
• Multi-Tiered Security System
• Summary, Detailed, and Burn Rate Reports
• Access to Personnel Information and Recharge Center Invoices
• Virtually No Training Necessary