How do I record the £10,000 grant #covid19

Accounting
1

Hi there,

I’m due the £10,000 small business rate relief grant this week and I’m wondering how/what I record it in my quickfile account?

Thanks in advance

Jamie

2
3

It should be recorded as part of your turnover. If it makes it easier for you, create a sales invoice and tag the payment to that.

If you are vat registered and part of a flat rate scheme, then its out of scope for vat, so don’t include it on your vat return.