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:
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Go to Transactions > Sales > Create Grant Opportunities.
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Under Primary Information:
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In the Title field, enter a name for this grant opportunity.
NetSuite assigns a number to the grant opportunity.
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Select the constituent in the Constituent field.
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From the Grant list, select a grant to associate with this opportunity.
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From the Project list, select a project to associate with this opportunity.
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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.
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Enter a probability that the deal will close. This probability is used to determine the weighted total of the opportunity.
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If you selected the status Closed Lost, the probability is automatically set to 0%.
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If you selected the status Closed Won, the probability is automatically set to 100%.
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Enter the date you expect this opportunity to close.
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Under Forecasting:
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The projected total is calculated in one of the following ways:
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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.
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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.
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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.
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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.
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On the Items subtab:
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The prospective constituent's currency is shown in the Currency field.
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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.
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In the Item column, select the item the constituent is interested in, and enter other information for this item.
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Set the Revenue Type to Grant.
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Set the Revenue Subtype:
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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.
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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.
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Click Add.
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Repeat these steps for each item.
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On the Communication subtab:
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Create any events, tasks, or phone calls you want to associate with this opportunity.
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On the Files subtab, attach any files you want to associate with this opportunity.
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On the User Notes subtab, enter any internal notes related to this opportunity.
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Click Save.