I have a way on how to record grants, leafmusic.
You can create an item that represents grants received from the government. You can use the Non-inventory or Service for this. Then, you'll need to create a liability account that is associated with the item to serve as the income account.
Once done, you can create an Invoice:
- Go to the Project tab and select which specific project/customer you're working on.
- Click the Add to Project drop-down. Then, choose the Invoice.
- Choose the item you've created. Enter all necessary information.
- Select Save and close.
The final step is to receive the payment. From the Add to project drop-down, choose Receive payment, and select the invoice you've created.
I'd also suggest reaching out to your accountant to consult for the best way of recording and the type of account.
I'm always here if you need more help.
