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  #1  
Old 10-30-2009, 04:28 PM
sugarloafmolly sugarloafmolly is offline
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Returning grant money

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?
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Old 10-31-2009, 07:39 AM
Beverly321 Beverly321 is offline
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refund grant revenue

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.
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