Financial Management: Key Relationships
- Harshula Jhala
- Jane Chapola
- WilmariƩ Moreland
- Mia Haughton
This page covers:
Related pages:
Financial Management: Overview
The Financial Management suite in Amp Impact includes four different features that support typical financial management processes in social impact organizations. This includes:
Budgets & Financials: The ability to track budgets and financial line items (or budget line items) to report on planned and actual expenditure.
Disbursements: The ability to schedule and track payments (or installments) to be made or received
Funds: The ability to manage pools of money (Funds) and allocate (or ringfence) funding to specific projects or grants.
Allocations: The ability to allocate funding from an Account, Fund, or Opportunity to a particular area.
Financial Management: Data Model
Below is the Financial Management functional area data model subset:
Financial Management: Summary of Key Relationships
There are five key relationships that are foundational to the overall use of Amp Impact:
Fund: This relationship enables organizations to manage the pools of money that can be allocated to projects/grants.
Budget: This relationship enables organizations to plan expenditures across categories, periods, activities or other segments.
Financial: This relationship enables organizations to analyze budget and expenditure lines.
Disbursement: This relationship enables organizations to schedule payments that are to be made or received.
Allocation: This relationship enables organizations to allocate funding to a Project from an Account, Fund or Opportunities.
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Amp Object Label | Amp Object API name | Abbreviation | Object Description | Sample Use | Also Sometimes Called | Key relationships (Amp object's relationship in parentheses) | Sometimes connects to |
|---|---|---|---|---|---|---|---|
Fund | ampi_xx_Fund__c | Ā None | Funds are pools of money that an organization can define based on programmatic interests, donor interests, funding sources, etc. The object facilitates tracking available funds for grants, allocating money from funds to different grants or projects, and monitoring disbursements drawing from those funds. | An organization may define a "2022 WASH Initiatives" fund and track the aggregate amounts applied for, allocated, committed, and paid to grants/projects on Fund record. They can also monitor funds remaining in the fund. | Funding Source | Allocations (M2M between Fund and Project) | Opportunity |
Budget | ampi__Budget__c | Ā None | The Budget object holds planned and actual expenditure (and/or revenue) by grouping together Financial records (aka Budget Lines). Users can see the total planned and actual amounts on the Budget record as well as the related Financials. A Grant/Project/Program can have multiple Budgets, for instance one per partner, one per geography, or one per period. | The Education For All project has one Budget record that contains all the project's planned Budget Lines and actual expenditure. Before the project started, the budget was approved by the Country Director and Finance Director. | Forecast | Project (Budget is child on Master-Detail) | Account |
Financial | ampi__Financial__c | Ā None | Financials serve as Budget Lines and Expenditure Lines. Financials can be high-level (eg $300k on Salaries in Q1) or very detailed (eg $5k on Martha's January). The Financial object is child to the Budget object and the Reporting Period Object (both are required) and has an optional lookup to Activity for organization's looking to do Activity-based budgeting. | The Education For All project's budget has 10 Budget Lines stored on the Financial object. Each is categorized (eg Personnel) and sub-categorized (eg Benefits). Expenditure records are loaded into the Financial object monthly from the Accounting system, so that program staff can see Budget vs Actual for their projects. | Budget Line, Forecast Line | Budget (Financial is child on Master-Detail) | Framework Objective (for "Result-based budgeting") |
Disbursement | ampi__Disbursement__c | Ā None | Disbursements are payments that have been made or scheduled to be made. Disbursements can either be inbound (i.e. received) or outbound (i.e. sent). Disbursements are sometimes tied to Grant or Progress Reports and could be connected to specific milestones if needed. They will sometimes undergo an approval process and often be used in integrations with ERP systems (eg schedule and approve Disbursements in Amp, make payment via ERP and have that data flow back to Amp). | The Education For All project has four scheduled Disbursements, including an initial payment of $50,000 and three subsequent payments tied to completion and approval of quarterly progress reports. | Payment, Tranche | Project (Disbursement is child on Master-Detail) | Activity |
Allocation | ampi__Allocation__c | Ā None | The Allocation object can be used to record commitments of monetary resources to a project from different Accounts/Organizations, Funds, or Opportunities. A Project can have one or more Allocations. A Project with only one funder, might have just one Allocation, whereas a Project funded by multiple sources would have many. | The Education For All project has three funders; Org A, Org B, and Org C. Org A has committed $100k; Org B and Org C have each committed $50k. Additionally, the org itself has committed $50k of unrestricted funding to the project from the Unrestricted Fund record. Each of these Commitments is stored on the Allocation object. | Commitments | Project (Allocation is child in lookup) | Opportunity |