APPRENTICE SUBSIDY

We have received Government subsidy for an apprentice. How do I record that please?

Answers

  • JO-ANNE_7327707
    JO-ANNE_7327707 Member Posts: 233 ✭✭✭

    HI

    I would create an income account and call it something similar or the same to what you have noted i.e. Government Subsidy - Apprentice. Also check for GST, generally GST free

  • Kris_Williams
    Kris_Williams Member Posts: 3,197 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert

    I would record it to an Other Income or Income account called apprenticeship subsidy or something similar. No tax code