Creating a Grant Opportunity

Record a grant opportunity or grant proposal.

For generic information on the opportunity record in NetSuite, see Creating an Opportunity Record.

After you have created a grant opportunity, you can convert it to a pledge order or new invoice. In the opportunity record, click the Sales subtab, and then click Closed Transactions.

To create a grant opportunity:

  1. Go to Transactions > Sales > Create Grant Opportunities.

  2. Under Primary Information:

    1. In the Title field, enter a name for this grant opportunity.

      NetSuite assigns a number to the grant opportunity.

    2. Select the constituent in the Constituent field.

    3. From the Grant list, select a grant to associate with this opportunity.

    4. From the Project list, select a project to associate with this opportunity.

    5. Select a status for the opportunity.

      If a transaction other than an estimate is included in the opportunity, the status is automatically set to Closed – Won.

    6. Enter a probability that the deal will close. This probability is used to determine the weighted total of the opportunity.

      • If you selected the status Closed Lost, the probability is automatically set to 0%.

      • If you selected the status Closed Won, the probability is automatically set to 100%.

    7. Enter the date you expect this opportunity to close.

  3. Under Forecasting:

    1. The projected total is calculated in one of the following ways:

      • If there are no items selected on the Items subtab and there are no estimates or transactions included in the opportunity, you can enter a projected total.

      • If the opportunity has items selected on the Items subtab, but no estimates or other transactions included in the opportunity, the total of the items selected appears as the projected total.

      • If there is one estimate associated with the opportunity, and the estimate is marked to include in forecasts, the total of the estimate is shown as the projected total.

      • If there are multiple estimates associated with the opportunity, the projected total is the sum of all the estimates marked to include in forecasts.

      If you manually enter a projected total, that total appears until you click Update Projected on the Items subtab.

  4. On the Items subtab:

    1. The prospective constituent's currency is shown in the Currency field.

    2. The exchange rate for this currency appears in the Exchange Rate field. You can enter a new exchange rate for this for this transaction only, or you can update the currency's record with the exchange rate you enter here.

    3. In the Item column, select the item the constituent is interested in, and enter other information for this item.

    4. Set the Revenue Type to Grant.

    5. Set the Revenue Subtype:

      • If the prospective grant is a contribution, set the Revenue Subtype to Contribution Grant.

        After the opportunity is created, you can convert the record to an invoice.

      • If the prospective grant is a cost reimbursable, set the Revenue Subtype to Exchange Agreement.

        After the opportunity is created, convert the record to a pledge.

    6. Click Add.

    7. Repeat these steps for each item.

  5. On the Communication subtab:

    1. Create any events, tasks, or phone calls you want to associate with this opportunity.

    2. On the Files subtab, attach any files you want to associate with this opportunity.

    3. On the User Notes subtab, enter any internal notes related to this opportunity.

  6. Click Save.

Related Topics

Grant Management
Creating a Grant
Editing a Grant
Creating a Grant Milestone
Upcoming Grant Milestones Report
Grant Statement of Activity
Overdue Grant Payments
Unbilled Grants Report

General Notices