Subsidy payments

Hello there, @AHC_1962. I'm here to help you in recording the subsidy and other expenses in QuickBooks Desktop (QBDT).

You can record the subsidy money you received as a bank deposit and the related expenses as a bill or a check.

To begin, if you haven't created a specific account for the subsidy yet here's how to do it:

1. Go to Lists and select Chart of Accounts.
2. Choose New in the Account dropdown.
3. Tick the Expense radio button for the category and click Continue.
4. Choose an Account Name and fill in the necessary details.
5. Once done, click Save & Close.

Next, create a bank deposit for the subsidy funds, and record the related expenses as usual, making sure to use the subsidy account we just created for both transactions to offset them.

Additionally, you can run and customize your reports to get the data you need.

Let us know if you have other concerns with recording your subsidy and other expenses in QBDT. We're here to help you in any way we can.

Thank you, but if I’m understanding correctly subsidy deposits and expenses go into the same EXPENSE account created earlier? Or should there be one expense account and one income account?

So if I’m understanding correctly subsidy deposits and expenses go into the same EXPENSE account created earlier or should they be separated into two accounts, Subsidy deposits and expenses?

Hi there, AHC_1962. Let me help you understand how to record subsidy payments in QuickBooks Desktop (QBDT).

Yes, you need to select the same expense account when creating the subsidy payments in QBDT provided by my colleague above.

Additionally, you can run and customize your reports to gather your data in QBDT.

Get back to this post if you still have any other concerns about recording your payments. I'm here to help.