Grant consulting and reporting

Grants are a real way to fund a business or an organisation without loans and without investors. But the money arrives with obligations: it must be spent on what it was given for, accounted for separately, and reported on strictly. Business Light supports grant projects at every stage – from choosing the programme and filing the application through to the final report to the donor.

What grant consulting includes

• finding suitable programmes: state grants, including eRobota, and international donors and funds;
• help preparing the application: business plan, project budget, supporting documents;
• advice on the donor’s requirements and on the terms of the grant agreement;
• setting up the accounting for grant money – separate records of project income and spending;
• monitoring that funds are used for their stated purpose;
• the taxation of the grant and its correct treatment in the reporting of the company or sole trader;
• preparation of financial and narrative reports for the donor – in the donor’s formats and within its deadlines;
• support during audits and monitoring visits by the grant provider.

Why grant reporting matters

A grant provider is entitled to check every hryvnia. Errors in the records, missed deadlines or spending outside the stated purpose can lead to a demand to return the grant in whole or in part, and to losing the right to take part in future programmes. Accounting set up correctly from the first day of the project protects both your money and your standing.

Who it suits

• sole traders and companies that have received a grant under a state programme – eRobota: own business, processing, orchards and greenhouses;
• civic and charitable organisations working with donor funding;
• agricultural and manufacturing companies taking part in grant programmes;
• start-ups and businesses that are only planning to apply.

How we work

• Consultation. We look at your situation: which grant has been received or is planned, and what the donor requires.
• Setting up the accounting. We organise separate records of grant money and the document flow for the project.
• Running the project. We record spending, check it against the stated purpose, and advise your team.
• Reporting. We prepare and file reports to the grant provider and reflect the grant in the tax reporting.
• Closing the project. Final report, document archive, support during the donor’s audit.

Why bring the grant project to Business Light

• Working since 2009 in accounting and taxation for businesses and organisations.
• Accountants and lawyers in one team – we close both the financial and the contractual side of a grant.
• Knowledge of donor requirements. We work with the reporting formats of state programmes and international funds.
• Deadlines watched. You will not miss a report – the reminders and the preparation are on our side.
• Confidentiality and clear terms of engagement, set out in a contract.

Common questions about grants

Is a grant taxable?

It depends on the programme, on the status of the recipient – sole trader, company, civic organisation – and on the terms of the agreement. On a consultation we go through your particular case and show how to record the grant without exposure.

What happens if a report is late?

The provider may suspend funding, demand the money back, or refuse participation in later programmes. That is why we take the deadlines on ourselves.

Do you only help with reporting, or with winning the grant too?

Both. We identify programmes, help prepare the application and the business plan, and once the grant is awarded we keep the records and produce the reporting.

Can we hand over reporting on a grant already received?

Yes. We join at any stage of a project, put the documents in order and produce the reports in the required formats. And so that the company’s finances work as one system, take accounting services as well – grant accounting then becomes part of them.