Farm IT Help - Grants and Subsidies

Grants and Subsidies

Grants and subsidies differ from receiving payments for invoices in that you probably did not actually produce a invoice for the government body providing the grant. If you do provide an invoice then the normal method of receiving the payment should be used as this will update the invoice accordingly.

If you did not create an invoice then all you need to do to receive the Grant is select the 'Receive Grant or Subsidy' Option from the 'Bank' menu. This will bring up the following window.

Enter the details  of the grant payment and specify the income account to which the amount is to be credited and the bank account where the money is deposited. Then simply select 'OK' to add the entry.

If you whish to check on grants or subsidies you have received you may check the income account details from the Nominal Ledger.

 

 

 

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