David, Depending on who the grant is from and conditions of the grant and local legislation, it may be treated either as capital or income.
Are you required to invoice the granting agency before they pay the grant money to you? If not, then there is no real need to use the business features and A/R process. You can simply handle this as a debit to your bank account and a credit to an appropriate income account. However if using the business features is convenient then there is no problem using them. You could raise the invoice when advised the grant has been awarded with the payment recorded when the money is received even if you do not actually post the invoice. If you are accounting on an accrual basis and not a cash basis, you may want to consult your accountant about when the grant money is considered to be earned: when the grant is awarded; when you are paid the money or when you fulfill the obligations of the grant. This could have implications for taxation for instance and will depend on legislation in your jurisdiction. David Cousens ----- David Cousens -- Sent from: http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
