Abila MIP Add-on Module Helps Streamline Grants Management and SEFA Preparation
REDW Software Solutions, the team of business software professionals at REDW LLC, one of the Southwestâ€™s largest and fastest-growing public accounting and business consulting firms, is excited to introduce SEFA Proâ„¢. This grants management software solution, exclusively from REDW, is designed to help governments â€“ including Tribes and their enterprises â€“ as well as not-for-profit entities, streamline the process for producing accurate SEFA and other grants management reports.
The Schedule of Expenditures of Federal Awards (SEFA) is a critical document that entities must prepare for audits of federal awards. According to Mustafa Kamal, REDW Principal and REDW Software Solutions Practice Leader, â€œSEFA Proâ„¢ enables organizations to track federal funds the right way â€“ backed by the right reporting. It eliminates the manually cumbersome, error-prone method of collecting all relevant information from different sources and ensures all the information is produced directly from Abila MIP to present to the auditor.â€
Corrine Wilson, REDW Principal and National Tribal Practice Leader, added, â€œAs the provider of accounting services to more Native American Tribes and their tribal entities than any other U.S. accounting firm, Â weâ€™ve frequently seen that many Tribes struggle to submit a complete SEFA report because they are so complex.
The danger,â€ she continued, â€œis that, if they donâ€™t report their expenditures correctly, they may incur audit findings and increased audit fees. Moreover, inefficient grants management can lead to over-expenditures.” Wilson added that some clients have had to return millions of dollars in grants, or have been unable to collect receivables from old awards because of mistakes and ill-timed reconciliations throughout the fiscal period.
The SEFA Proâ„¢ module is incorporated into existing Abila MIP Fund Accounting software and draws information from Grant Administration, one of the Core Abila MIP modules. Once setup is complete, SEFA Proâ„¢ is easy to maintain; all updates are included as part of the product’s annual support and maintenance. SEFA Proâ„¢ also helps to create relevant grant reconciliations throughout the year, and at year-end.
For More Information or a Demonstration
For additional information about SEFA Proâ„¢ or other software solutions and services, please contact Mustafa Kamal at firstname.lastname@example.org or 505.998.3423. On March 19, 2020, beginning at 9:00 a.m. PT, the REDW Software Solutions Team is presenting a complimentary, one-hour webinar to demonstrate SEFA Proâ„¢. To register for the live webinar or to view an on-demand recording available the next day, click here.