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Fungph
Level 1

Reflecting Government Grant in Chart of Account

I run a training company. The bulk of the revenue comes from training. Here's an illustration

Course fee: $100

Government grant: -$80

Customer paid: $20

 

My chart of account should have Revenue Account showing: $100

Balance Sheet Account: Government grant funding: $80

Cash received: $20

How do I set-up Balance Sheet Account for the Government grant funding?