I did the same thing that Alicia has suggested. But I see a downside to this. Since it is recorded as an income (though it is coming under other income), it will be shown as an income where the claim will be available for the organizations who had a loss in their income (15% for March and 30% for the later months).

Another friend of mine suggested offsetting the payroll account with the grant which I was not happy to do. Because it will show a dip in the expenses which is not true.

The best option would be, having accounts with the name as "Government Grants" under other income and posting the entries to these accounts. So an external/CRA auditor will understand that it is not a regular income and it has to be subtracted when calculating the income for 75% wage subsidy calculation.