How do I register the latest 2021 COVID-19 business grant?

Good day, @jason104.

In QuickBooks Online (QBO), we can create a new equity account on your Chart of Account to record the latest 2021 covid-19. Then, you can enter the opening balance by making a journal entry or bank deposit.

I'll guide you how:

1. Go to the Accounting menu, and then choose Chart of Accounts.

2. Click the New button at the right top.

3. From the Account Type drop-down arrow, choose Equity.

4. Choose the Detail Type, and then enter the Name.

5. Hit Save and Close.

I've also added our Employees and payroll taxes page. It provides an article that might help you navigate your account and answer you're How do I question in QuickBooks.

Let me know if there's anything else at all I can do for you. Take care.

If you’re a business, sole trader or not-for-profit organisation in NSW and you've been impacted by the recent COVID-19 restrictions.

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Hi, @jason104.

Hope you’re doing great. I wanted to see how everything is going about registering the covid-19 business grant you had the other day. Was it resolved? Do you need any additional help or clarification? If you do, just let me know. I’d be happy to help you at any time.

Looking forward to your reply. Have a pleasant day ahead!

Hi, thanks or asking.

Actually, I couldn't get it to work. I couldn't see or find 'Equity' as account type to pick in the drop down menu, and therefore no accumulated adjustment to choose from either. I still do not know how to do this... Sorry! ... Any ideas?

Thanks for posting here again, Jason.

We want to help you with your 2021 COVID-19 business grant registration. I want to clarify for which country are you trying to register for. We have other countries offering COVID-19 grants and we want to make sure we give the accurate options and steps for you. Kindly share the information in the comment below. 

In the meantime, if you can't create and Equity account in QuickBooks Online, I suggest using a private window. Unexpected issues in QuickBooks are sometimes affected by the amount of data stored in the cache. This is because a regular browser will constantly overwrite itself and will not remove history unless done manually.

Private browsing will not save any history, so it's a great place to identify issues in the browser. Use these keyboard shortcuts to launch a new private window:

• Google Chrome: press Ctrl + Shift + N  
• Mozilla Firefox: press Ctrl + Shift + P
• Safari: press Command + Shift + N

Once you open a private browser, log in to your QBO account and follow the steps shared by Maybelle_S. If it works, clear the cache to resolve browser issues in QBO. You can also use a different browser and see if the issue persists there.

Post here again for the additional information about your grant registration. I'll be waiting for your response and I'm more than happy to help you anytime. Have a good one!

Hi Maybelle, I am trying to create the new equity account however "Equity" does not appear in the drop-down under Account Type. Can you please advise which account type I should use?

I am hoping to recognise the NSW COVID-19 business grant in Australia. 

Thank you for joining the thread, cp36. I'll help you with setting up your account to record the new COVID-19 business grant.

The Equity account should be available under the Account Type drop-down in all versions or regions of QuickBooks Online (QBO). Thus, if you're subscribed to QBO US or AU, you'll be able to select the Equity type following the steps provided by Maybelle_S above. 

For the time being, I recommend reviewing the accounts again by scrolling the options up to down or vice versa. If you're getting the same result, may I ask for a screenshot of your Account Type options? This way, I can look into each account and proceed with the setup.

Additional screenshots or information will be much appreciated. Just leave a comment below. Keep safe!

Hi Angelyn, 

Thanks for your reply and assistance!

Please see screenshots attached . In this instance am I able to create an Owner's Equity account? It is for the NSW Small Business grant

Thank you!

Hi cp36,

Yes, you can set up an equity account to allocate the NSW Small Business grant. However, I'd recommend you to contact an accountant for accounting advice so that you can enter the grant correctly on your financial reports. 

Feel free to leave a comment below if you have any other questions. 

I don't have the 'Equity' option either and have done the steps to clear the cache etc and it still not showing up? logged in via google chrome and firefox

I appreciate the steps you've taken, kp911.

Don't worry, I'll help you figure this out.

It could be that your Equity account was just named as Retained Earnings. You'll want to check if this is the case. You can also check this article to learn more details about equity accounts in QuickBooks Online: Understanding the Equity Accounts on Your Financial Statements.

However, if you're not able to have the retained earnings option, I suggest reaching our customer support team. They'll be able to initiate a screen sharing-session to take a closer look to isolate this issue. 

Here's how:

1. Go to this link: https://help.quickbooks.intuit.com/en_US/contact.
2. Select your product.
3. Enter a short description of your concern.
4. Then, follow the on-screen instruction to complete the process. You'll then be connected to our specialist.

Please check out our support hours and contact us at a time convenient: ​​Support hours and types.     

Let me know if you have other concerns. I'm just around to help.