Financial Management
- Jane Chapola
- Wilmarié Moreland
- Mia Haughton
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Related pages:
Financial Management in Amp Impact
The Financial Management suite in Amp Impact includes four different features that support typical financial management processes in social impact organizations. Depending on their processes, organizations can choose to only use some of the features in the Financial Management suite. This is often also the area where we see integrations with other financial management systems.
Finance Management in Amp Impact Feature Demo Video
Below is a summary of the Financial Management features that organizations typically use:
Budgets & Financials (Forecasts or Planned Costs): This enables organizations to plan expenditure across categories, periods, activities, or other segments, as well as report actual expenditure.
The first step is to create a Budget record which serves as a “header” for the Budget. Financial records or budget line items are then created related to the Budget.
Budgets come with an Excel Upload/Download feature that allows you to download the Budget and Financials, work on it offline, and re-upload it.
Disbursements (Payments, Tranches, or Installments): This allows organizations to schedule payments (i.e. in installments/ tranches), and track the amount and status of these payments for a project, program, or grant.
Disbursement records are typically created in the Disbursements table - a custom interface that allows you to easily create the installments or tranches of funding.
Allocations (Commitments, Fund management, or Co-funding): Allocations allow an organization to allocate funding commitments to a project or grant from an Account, Opportunity, or Fund, depending on the organization’s need.
Allocations are typically set up in the Financials section of a Project record.