Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
posted
Best answer July 12, 2022
Solved
Best Answers
Hello there, @kevlcoleman.
Recording a CIRM grant in QuickBooks Online (QBO) is a breeze, and I'm here to show you how.
Grants are considered income to your company. With this, you can record your CIRM grant as a deposit to your business account in QBO. Before or while doing so, make sure you create a profile of the agency where the funds came from and the account to categorize them. Then, I would encourage you to consult with your accountant where it supposed to show up in your books P&L or Balance Sheet. This way, you can keep your financial data accurate and updated.
Whenever you're ready, here's how:
- Go to the + New button.
- Select Bank deposit.
- In the Account drop-down, choose which bank you'll deposit the grant funds.
- Enter the CIRM grant's information (i.e., Received From, Account, and Amount) in the Add funds to this deposit section.
- Click Save and Close or Save and new once done.
You can learn more about recording bank deposits in QBO by checking out this article: Record and make bank deposits in QuickBooks Online.
Once you categorize your grant as income, it will reflect in the Income section of your Profit and Loss report.
Now that you've recorded your CIRM grant, you may also want to check out one of our Help pages as your reference in completing your everyday tasks using QBO: QuickBooks Learn and Support. It includes QuickBooks help articles, Community discussions with other users, and video tutorials, to name a few.
Please let me know if there's anything else you need or questions about recording grants in QBO. I'll gladly help. Take care, and have a great day, @kevlcoleman.
Hello there, @kevlcoleman.
Recording a CIRM grant in QuickBooks Online (QBO) is a breeze, and I'm here to show you how.
Grants are considered income to your company. With this, you can record your CIRM grant as a deposit to your business account in QBO. Before or while doing so, make sure you create a profile of the agency where the funds came from and the account to categorize them. Then, I would encourage you to consult with your accountant where it supposed to show up in your books P&L or Balance Sheet. This way, you can keep your financial data accurate and updated.
Whenever you're ready, here's how:
- Go to the + New button.
- Select Bank deposit.
- In the Account drop-down, choose which bank you'll deposit the grant funds.
- Enter the CIRM grant's information (i.e., Received From, Account, and Amount) in the Add funds to this deposit section.
- Click Save and Close or Save and new once done.
You can learn more about recording bank deposits in QBO by checking out this article: Record and make bank deposits in QuickBooks Online.
Once you categorize your grant as income, it will reflect in the Income section of your Profit and Loss report.
Now that you've recorded your CIRM grant, you may also want to check out one of our Help pages as your reference in completing your everyday tasks using QBO: QuickBooks Learn and Support. It includes QuickBooks help articles, Community discussions with other users, and video tutorials, to name a few.
Please let me know if there's anything else you need or questions about recording grants in QBO. I'll gladly help. Take care, and have a great day, @kevlcoleman.
