Summary
This article explains how to record Government grants for sole traders or partnerships in Sage Accounts Production Advanced (SAPA).
Description
With Part 99 clients (sole traders and partnerships), there are no default codes for Government grants, you need to create a new code then post to it using Document Postings, the results will then appear on your Profit and Loss report.
Resolution
- Select your client and, from Quick Links, click Client Chart of Accounts.
- Click New Code.
- Against Main Code, enter 354, or the next available code.
- For the Accounts Title, enter Government Grants, then click Save.
- To exit the Chart of Accounts, click Close.
- To record the grant transaction, click Document Postings, and create a new journal using the new Government Grant code.
TIP: When running financial statements, the figure will appear under the Other income section.