Acquittals – Grant Reporting

Grant acquittals are a key compliance requirement for not-for-profits and demonstrate how grant funds were actually used compared to the original budget. This section guides you through The Breakthrough Office’s standard process for preparing accurate, funder-ready acquittals using Xero and monthly P&L reviews.

Learning Objectives

• Understand the purpose of acquittals and how they compare budgeted vs. actual expenditure.

• Explain why accurate monthly program allocations are critical for year-end acquittals.

• Apply TBO’s process for managing acquittals in Xero, including redirection and reporting.