View source for How do I journal a Covid19 grant?

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== Summary ==
Money received as a grant or under the furlough scheme should be posted into your accounts using a {{NL}} journal.

== More Information ==
You may wish to [[How do I create a nominal code?|create]] some additional nominal centres for the posting e.g. Covid19 Grant or Furlough Scheme Income. We suggest the centres should be Profit & Loss - Overhead centres although you should seek advice from your accountant as they may suggest you treat the funds as Sales income.

{{Information|text=If the funds are a loan and to be repaid you should create a Balance Sheet - Liability centre as opposed to a Profit & Loss centre.}}

Go to {{Menu|{{NL}}|Journal Entries}}.
* At {{DataPrompt|Entry mode}}, choose {{DataValue|Cashbook}}.
* The {{DataPrompt|Money in/out:}} should be set to {{DataValue|In}}.
* Enter your bank nominal code into {{DataPrompt|Centre}} on the highlighted line on the list.
* On the next line:
** In the {{DataPrompt|Centre}} column, enter the centre you wish to record the funds under. 
** In the {{DataPrompt|Date}} column, enter the date you received the funds. 
** In the {{DataPrompt|Credit}} column, enter the amount received.
** In the {{DataPrompt|Comment}} column, enter a suitable reference e.g. {{DataValue|Covid19 Grant Received}}.
* Press {{KeyPress|Esc}} and {{KeyPress|Accept}} to post the journal.

== See also ==
* [[How do I create a nominal code?]]
* [[How do I Search for a Nominal Centre?]]
* [[Posting journals]]


{{KB_Tags|coronavirus, covid19, grant, income, funds, money received, cashbook, journal, nominal}}
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