Hi,
What is the best way to handle multi year grants? I am trying to wrap my brain around this. If they get 1 million dollars in FY 24/25, but the money will be used in the span of 3 fiscal years. They do not want to show on reports that they got 1 million to spend in 24/25 as this would be wrong. How do they show revenue for just the amount allocated for the current FY?
8 answers
Here are the options I can think of - I suggest you try them out in a sandbox before deciding which works best for you.
- Single Grant (opportunity) with multiple payments. You get the "amount remaining" OOB on the opportunity record page. What you don't get is the ability to report on opportunities by year - the opportunity close date reflects the date you won the grant but not the actual income. On the other hand, actual income is available by reporting on Payment records, and you may need to rethink the way you already report on actual income (most people ignore the payment record, but in some cases, like this one, the payment reflects the actual income).
- One Grant record per year. This allows the ability to report on opportunities by year, but the grant records are only related to each other through the account (and/or contact). Here are some ways to tie the three grant records together:
- Use a Campaign. Create a new campaign record that represents the grant, and relate each grant record to this campaign. You'd lose the ability to tie the entire grant to the campaign that led you there, though.
- Add a new lookup field to Opportunity, called "parent opportunity", pointing to another opportunity record. This simulates an opportunity hierarchy. Then create a single grant record that represents the entire grant, and three more single-year grant records that are related back to the parent. This leaves you with four grant records, unfortunately, so you need to flag the parent somehow and don't include it in yearly reports.
