What's the difference between simple budgets and budgets with funding sources?

Depending on your client settings, you will either have the ability to create simple budgets or budgets with funding sources. The main difference between these two styles is where the funds for your budget come from.

• Simple budgets refer to budgets whose funds (cash or in-kind) are tied directly to the budget itself. You do not create and maintain a funding source to hold funds.

  Note: Simple budgets are beneficial if you do not need that additional level of organization for your funds. Because you aren't required to create and manage funding sources in addition to your budgets, the process of setting up and maintaining these budgets is more efficient.

• Budgets with funding sources refer to budgets whose funds (cash or in-kind) are pulled from a separate funding source or multiple funding sources.

  Note: Budgets with funding sources are beneficial if you want an additional level of organization for your funds. You can create separate funding sources for different regions, departments, etc. and tie these to your budget. This allows you to specify where these funds come from, track the availability of funds for each source, and report on their usage.

The type of budget available to you depends on whether the Hide Funding Sources feature is enabled or disabled in your client Feature settings. This is set during implementation. If you're unsure which setting you have or would like to change this setting, please contact your Account Manager or GrantsConnect Support.

Tip: You can add system tags to either type of budgets regardless of your settings. This allows you to organize and quickly identify your funds. Learn more.