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Re: Deferred Rev & Liabiity Entries

If I am interpreting your questions correctly, you are have $75,000 you are receiving as a grant, but then you also owe $75,000 out to someone else.  I will answer based on this interpretation.  

 

Create an "current liability" called deferred revenue.  In accrual basis this is where you would post revenue that you haven't yet earned.  This account would carry a credit balance.  The debit to this entry would be to the checking account.

 

For the outgoing funds, create an "current asset" and name it accordingly (i.e. accrued liability(for what)).  In accrual basis this is where you would post an expense that has been paid, but not yet delivered (think of it like paying rent in advance for the upcoming month).  This account would carry a debit balance and the credit would be to the checking account when the payment is made.

 

If I assumed the questions incorrectly, please feel free to reach out and provide additional details, so your questions can be answered more accurately.