We have received a number of grants and donations for capital equipment and would like to know how to correctly record these transactions.
Should we create a new nominal code for donations in? We do not wish to record these as sales.
We intend to depreciate the equipment over 10 years. How should this be recorded?
Hello @bsbdvh
The support team are not registered accountants. For professional advice I would reccomend speaking to your accountant.
If you don’t have an accountant, we have a panel of accountants (familiar with QuickFile) to choose from, for more information, please see the following link:
I will leave this post open as there are some accountants on the forum who may wish to comment.
Please help me with how to record in general ledger in accounting grade 10
Please accept my apologies for the delayed reply. I’m unsure what you mean by “grade 10”. Are you able to elaborate, please, and we’ll try our best to assist you further?
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