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Level 1

How do I get grant money to be listed as revenue on reports? It doesn't show up at all on profit loss reports and as a negative amount on other reports.

This is for a nonprofit that receives grants regularly. I am new to quickbooks.
1 Comment
QuickBooks Team

How do I get grant money to be listed as revenue on reports? It doesn't show up at all on profit loss reports and as a negative amount on other reports.

Hi there, @ladybug1588.

 

I'll share with you some information about granting money in QuickBooks Online (QBO). 

 

In QBO the only way to show the amounts in P&L is to allocate it into income or other income since P&L only reports the income and expenses of the business. 

 

With this, let's deposit or allocate the money grant to the Other Income account. You can follow the steps below: 

 

  1. Go to the New icon on the top left. 
  2. Choose Bank Deposit under Action
  3. In the Account box, select the Other Income you've created. If you don't have it yet, click the +New
  4. Complete the Received from, Payment method, and amount, 
  5. Hit Save and close.

 

However, I'd still suggest that you consult this with your accountant or for further assistance on what exact account to use and how should this be handled.

 

After that, access your Profit and Loss report to review the transaction you've created. Then customize it to show the specific details. 

 

You can also save this report by clicking on Save customization. Once saved, you can access this in the Custom reports tab. Memorizing reports in QuickBooks, it’ll help you save time since it automatically updates every time there are newly added transactions.

 

I've added articles about the different reports offered in QBO and various steps for your future tasks. 

 

 

Feel free to comment below if you have any other questions or concerns. I'm always here to help.

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