Budget versions… how do I actually use them? – MCG’s MIPster the Tipster™

Hello friends. Budgets do not all run on the same clock. Your organization may budget July to June. A grant may run April to March. They will never match, and that is okay. MIP lets you create budget versions so each plan follows its own timeline.

Here is how to use it. Set one version for your organization budget. Set another for grants and contracts. Track each on its own dates. Then compare activity to the right version. Reports make sense because each dollar is measured against the plan it belongs to. You stop forcing numbers to fit a single version that does not match your reality.

Why this works. Because clear versions keep your data honest. Board reports stay clean. Grant tracking stays accurate. You see variances that matter, not noise.

Here is the tip. Use separate budget versions for your organization and for each grant or contract. Your reports get clearer, and you stay on top of every funding source.

Want help setting up versions or mapping reports to your board package? Visit our site to learn more and get in touch:

https://mcgoverncg.com/schedule/

https://www.freemipfundaccountingtraining.com/