Returning grant money

[sugarloafmolly]

Hello,
I receive money from a foundation for a program and did not use it all. The foundation wants the balance back. I do I account for this in QB?

[Beverly321]

It depends. If the revenue was received this fiscal year, I would write a check and have it hit the grant revenue received, thereby reducing the grant award. Or you can write a check, hitting the account called grant expense and assigning the class that the grant award was assigned to.