Thank you for joining the thread, cp36. I'll help you with setting up your account to record the new COVID-19 business grant.

The Equity account should be available under the Account Type drop-down in all versions or regions of QuickBooks Online (QBO). Thus, if you're subscribed to QBO US or AU, you'll be able to select the Equity type following the steps provided by Maybelle_S above. 

For the time being, I recommend reviewing the accounts again by scrolling the options up to down or vice versa. If you're getting the same result, may I ask for a screenshot of your Account Type options? This way, I can look into each account and proceed with the setup.

Additional screenshots or information will be much appreciated. Just leave a comment below. Keep safe!