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Level 1

How do we post for the government grant received in QB?

 
1 REPLY 1
QuickBooks Team

How do we post for the government grant received in QB?

Hello Elias2, You can record this as a bank deposit. You will need to set up an income account to record this. You can go to accounting>chart of account new>other ncome>detail type>misc>name change ti to small business grant(or whatever is best for you. Then go to +symbol>bank deposit and select date and the bank paid to and in add funds to this deposit select that newly set up income account(you do not have to put a payee in unless you want to. Fill in the rest and save and close. Any questions on this just reply back to this thread.