Fund Disbursement Capabilities

During the disbursement of funds, you want to monitor what you’ve paid and what’s left. Our platform enhances visibility in several ways:

• Budget management: Create a complete budget, including the grant amounts to cover various categories, such as salaries and equipment. An easy-to-use view gives convenient insight into budget totals. 
• Funds allocation: Our budgeting tools let you see your budget compared to the grant balance for better control over spending. You can draw from a developed budget to allocate funds to one or multiple grantees.  
• Disbursement planning: Pay grant funds using checks or direct deposit, depending on the requirements of your financial system.

Our solution enables you to distribute one-off payments or create scheduled distributions that are easy to set up and secure. A few features include:

• Payment schedule: Set a payment date for electronic transactions, whether immediate or future disbursement. All you need to do is enter the payment type, reference information, due date and amount to be paid. 
• Payment tracking: See all payments, their due dates and status, such as whether the payment is scheduled or already paid. 
• Payment notifications: Tell recipients when you send a payment or if a payment status changes with configurable email notification features. Notification features also send updates to members of your team.

Shape the disbursement schedule and tracking to meet the needs of the particular project or situation, whether it calls for a lump sum or a series of small payments over time. You might decide based on details like grant duration and project milestones. 

IntelliGrants IGX integrates with accounting software and banking providers to offer direct or indirect payment processing and two-way data exchange. Keep accurate records of payment dates, statuses and other details. Our solution also enables you to set up fund status notifications within our platform or over email. Beyond alerting grantees of payment, you can notify them of other fund disbursement details.

Our software enables you to establish and distribute guidelines and requirements to verify that recipients use funds as intended. You can outline documentation requirements like financial reports and detail how often you would like to receive them. Additionally, set clear noncompliance scenarios like misuse of funds or missing reporting timelines. 

We provide a detailed audit trail for easy reporting and dispute resolution. Our records include dates, amounts, recipients and other information you may need during audits. If funding must change, these records help you see how grantees have used the financial resources.