Question asked by Burnham Savage 5 years ago
Just received first payments from HMRC for furloughed staff. How are these accounted for in Clearbooks?
There are a number of options that you could use. My preferred option is to create a new account code in the Salaries Account Type - say Job Retention Grant - and allocate the grant receipt to that code. It will always show in the P & L but will be netted off the total salaries bill - after all it is a grant towards salary cost.
Best answerJust set a NEW code up for that under Rent and Rates
Thank you.
Thanks Gordon, much appreciated. I've done that - successfully, I think! I was referring also to the Business Rates grant. Would you still apply that under this same code or create another new one?
You need to create a NEW code - Settings/Accounting/Account Codes/Create account code/insert your preferred code and location/update
As a suggestion I attach a screenshot of one possible location, but you might use a slightly different code number depending on what you have already created in the Salaries codes.
Gordon, very helpful. Thank you.
May I ask for your guidance on which accounting code to apply a SBBR grant to, or create?
Thank you.
Thanks Gordon!
Hi Gordon,
That sounds perfect and makes great sense! Thank you very much for the contribution.
All the best,
Mohamed.
Hi Burnham,
I would advise speaking to an accountant as to where this should be accounted for, just to be on the safe side.
All the best,
Mohamed.
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