With the explosion of the COVID-19 pandemic, local governments have been looking for ways to track costs accurately and efficiently. There are multiple ways that this can occur in Springbrook. The first is through the creation of new General Ledger Expense Accounts and the use of Account Types in the chart of accounts. This method allows for reporting on costs incurred due to COVID19 expenses.
You can code your payroll expenses to new Pay and benefit code(s) as well. Another option is to use the Project Management module. Project Management allows cost and reimbursement tracking without the creation of new Expense codes.
Another perk of Project Management is the ability to create Adjustments to record previous transactions for reporting purposes. Finally, the Project Management module can track financial activity over multiple years. With the potential for reimbursement from Federal and State agencies, local governments should be prepared to track COVID-19 expenses.