Cash in Cash out Grant

Posted by John Pippy on July 12, 2007, 9:33 am

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Hi all,

Here is the situation. A non profit organization I do some work for
received a grant of $600 to pay a student a weekly stipend of $75 per week
for 8 weeks. I want to set this up in QuickBooks so that I can give the
person receiving the stipend a record / receipt of what he is receiving.

Any suggestions on how I can set this up so I can provide the student with
some record of the amount he receives each week.

Thanks

Posted by RebelGraffiti on July 12, 2007, 12:41 pm

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> Hi all,

> Here is the situation. A non profit organization I do some work for

> received a grant of $600 to pay a student a weekly stipend of $75 per week

> for 8 weeks. I want to set this up in QuickBooks so that I can give the

> person receiving the stipend a record / receipt of what he is receiving.

> Any suggestions on how I can set this up so I can provide the student with

> some record of the amount he receives each week.

I don't know if there are any special requirements to working with grants.

Assuming there aren't I would setup the grant as a liability w/student's
name. Print the liability register & send along with each payment.

--
Tara

Posted by John Pippy on July 12, 2007, 2:33 pm

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Thanks Tara,

Thanks for that suggestion, I never thought of that way. What I was doing
was make the deposit of the grant and then write a cheque to the student and
put the information in the memo portion, print it and include it with the
actual cheque. It seemed to work, but was looking at a better way to set it
up. Will look at your way and see how that goes.

Thanks,

Mike

>> Hi all,

>> Here is the situation. A non profit organization I do some work for

>> received a grant of $600 to pay a student a weekly stipend of $75 per

>> week for 8 weeks. I want to set this up in QuickBooks so that I can give

>> the person receiving the stipend a record / receipt of what he is

>> receiving.

>> Any suggestions on how I can set this up so I can provide the student

>> with some record of the amount he receives each week.

> I don't know if there are any special requirements to working with grants.

> Assuming there aren't I would setup the grant as a liability w/student's

> name. Print the liability register & send along with each payment.

> --

> Tara