Ringfenced Grant Funding

Hi all,

Thanks in advance!
I think this is more of a technical issue unless I have missed something…

This is the example with made up figures. Our CIC has received 1k funding for a project which spans our accounting year end. £400 allocated to the part of the project before the year end and £600 for after the year end.

The 1k transaction came into our bank and I have allocated it to ‘Grant Funding’ in our Sales section.

I would like to allocate £600 into ‘ringfenced’ account pot, which I hope will act as if were a creditor, so it takes it off what we are taxable for at the year end.

I have created a new ‘account’ called ‘Ringfenced funding’ code 2110 in Assets and Liabilities and said it was ‘short term credit’.

How can I do this?
Do I create a new transaction for 600k and put it in ringfenced funding? (HAve I just answered my own Q?)
Or do I split the incoming transaction and label one into Grant Funding and one into ‘Ringfenced funding’.

I could see the original incoming 1k in the journal for that and thought maybe I was supposed to input there…?

Assuming I am doing the actual accounting bit right (corrections welcome) how can I put the numbers where I want them to be…

Thank you! Your time is much appreciated.


Hello @StompingGround

I found this in the forum which may help you

As for what needs recording where, those types of queries should be directed to an accountant. If you don’t have an accountant, we have a panel of accountants to choose from, for more information, please see the following link:

Thank you so much Steve - that is very very helpful. I couldn’t seem to find my search function to find these topics… It seems I didn’t need to set up a new one! I feel sure it must be possible to search through topics. I am on FireFox and using Mac (if that makes any difference) - how can I search topics?

Hello @StompingGround

You just click on the search Icon at the top to search the forum (this topic or all topics)
Or you can click to switch to our knowledgebase above.

Thanks Steve,

For some reason my icon doesn’t come up (or the menu button next to it) but if I hover there with my cursor it shows a button tagged as ‘search’. That’s fab! I just need to remember! Not sure why it isn’t showing but as long as I can search I don’t mind!

Hello @StompingGround

Maybe try a different browser such as chrome and see if it comes up.

Probably the same content-security-policy problem that cropped up recently.

@ian_roberts - thankyou! I will try clearing caches and can always use a private window… thanks.

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