We have archived this event. You can view the recording here.
When should I record a grant:when I find out we got itor when we get the funds? What about a reimbursement grant? If I haven’t earned the money yet, should I put the grant on profit and loss, or should it go to deferred revenue on the balance sheet?
Accounting for restricted grants can be confusing. To make things worse, your board doesn’t want to see future grants on the profit and loss, but the accountant or auditor says they must be there. How do you keep your board happy but still stay in compliance with generally accepted accounting principles (GAAP)?
These are some of the questions to be answered in this first-time webinar with national nonprofit CPA and QuickBooks expert Gregg Bossen.
- Overview of the latest accounting rules for grants.
- What’s the difference between a “conditional” grant and a “restricted” grant?
- When should I book a grant and when should I wait?
- What’s the best way to enter them?
- How to show them separately, so as not to confuse the board?