Student Societies fund raising budgeting using FM & GM

[atif_farooq]

Hi:

At client we have around 70 societies of students established for various activities. For doing these activities they need funds, for that most of the time they raise funds externally, from various sponsors they arrange money and  that money is deposited in client banks accounts, against that money they incur expenses. Here there is another situation where client funds societies from internal funds to meet societies expenses in case there is delay from sponsor in fund availability , client provides funds to societies and when the grant award is received from sponsor , the differential of the financed amount is transferred to client own accounts.

Now my question is if i have to take society wise budget reporting in GM then how should i treat them, for each society, internal orders have been opened but how will the these societies be treated in GM , should each society be opened as Sponsored Program in SAP ? What about the internal fund and external fund scenario and transfer of the same when grant award is received from Sponsor.

Regards

[sjajodia · Accepted solution]

Atif,

This should be dealt with in FM. You can create Funds for this. As you can see GM will add considerable master data. Also they may receive funds from multiple sponsors for one society. GM only allows one sponsor per grant.

Thanks

Shyam

[atif_farooq]

Hi Shyamal:

Since i have activated Funded program as well so i am thinking to use funded program for budgeting societies external receipts. We wills still open customers for the sponsors from whom Student societies raise funds and book the receipts in them. However for every society FP will be created and there is one department who is managing all these societies , it has a defined fund center say XYZ . Now for budgeting society e.g a society brings in money of 2 Million i will post it as

Fund     FC        CI                              FP                Amount

OPEX     XYZ     Society_Expenses      SOCIETY1     2M

IO have been opened for them so budget will be derived based on them. Please correct if i am on right lines.

Regards

[sjajodia]

Atif,

You are on the right track. You can use either Funds or Funded program. If you are using funds (with NGL table FMGLFLEXT or PSGLFLEXT) you can track assets and liabilities by fund. If you only need to track revenues and expenditures then Funded Program is sufficient.

Thanks

Shyam