How do I account for government grants in Wave?

dw11

I am looking for input on how to enter government grants in Wave. The government grants are received based on reimbursement of expenses already paid. Would this simply so in as an invoice from the government program and then apply the payment received against the invoice? I imagine it would require a separate income category? Also, the reimbursed grant amount does not include tax (in this case HST). Thank you in advance.

vibes

I too am trying to figure out how to account for a reimbursement grant.

JulianP

Hey there @dw11 and @vibes !

Thanks for reaching out here, that's a great question! Wave's Support Team is able to provide technical support, but because we aren't accountants, we aren't able to provide accounting advice. While we are able to tell you how to do something in Wave, we aren't able to necessarily tell you the right way of doing it when it comes to the principles of accounting.

I would highly recommend reaching out to a registered CPA to ensure that you don't get incorrect advice on how to do your accounting. Perhaps one of our other community members who are CPAs can hop in here to help you out!

We have a Help Center article on how to bookkeep an EIDL grant and loan in Wave. Feel free to check it out here as this workflow may be helpful with your cases.