Hello,
We operate a number of programs, each of which is funded by multiple parties. As each of our funders has different reporting requirements and needs to know specifically how their dollars are spent, we require the ability to track revenues and expenses not only by program but also by funder or funding stream.

For example, Program A is funded by Funders 1, 2 and 3. We need to be able to track and allocate our expenses in the following manner:
Expense Acct 1-Program A-Funder 1
Expense Acct 1-Program A-Funder 2
Expense Acct 1-Program A-Funder 3
Expense Acct 1-Program B-Funder 1
Expense Acct 1-Program B-Funder 2
Expense Acct 2-Program A-Funder 1
Expense Acct 2-Program A-Funder 2, etc.
such that an expense account would be allocated on two levels-the program level and then the funding level.

Adagio Ledger only has the ability to track on two levels - the Account # and the department #. Do you have any suggestions for how we could track the 3rd level of detail for the funder? Are there any add-in products to Adagio that would allow us to do this?

Thank you,
Tanja

Hi,

Why not get creative with your department codes? For example, each code can be up to 6 characters in length, alphanumeric.

You might use the first 1, 2 or 3 characters to indicate the program and the last characters to indicate the funder.

This would also facilitate using the Financial Reporter to report Expense account for Program B for all Funders or for Program B for Funder 1 only.

Hi Tanja:

To elaborate on Support's answer, suppose that you use the first 2 digits of Department for Program and the next 2 for Funder.

For instance:
-Program A = 10
-Program B = 20 etc.
and
-Funder 1 = 10
-Funder 2 = 20
-Funder 3 = 30 etc.

Then, using your examples above, the Department codes would be:
Expense Acct 1-Program A-Funder 1 = 1010
Expense Acct 1-Program A-Funder 2 = 1020
Expense Acct 1-Program A-Funder 3 = 1030
Expense Acct 1-Program B-Funder 1 = 2010
Expense Acct 1-Program B-Funder 2 = 2020

Then you would create "Department" codes using wildcards in the Financial Reporter. For instance, to see all revenue & expenses for Program A (regardless of Funder), you would use a "Department" code = "10??". That statement would therefore include 1010, 1020, 1030 etc.

Or to see all revenue and expenses related to Funder B, you would create a "Department" code = "??20". That statement would include 1020, 2020 etc.

This should give you what you want but be aware that it will making coding the expenses more difficult.

Hi Tanja:

The last paragraph should read "Funder 2", not "Funder B".

My thanks to Wally Kunz, Softrak's Minister of Correction(al) Services for pointing out the error!

Thank you for this great information.