How to add the nsw grant in banking?

Hi natalie21,

While we do not have a guide specific to recording state grants, this article may be of assistance as it guides you through recording a similar Cash Boost stimulus payment. Specifically, it suggests to create an income account in which to record the payment:

1. Select Accounting and then Chart of Accounts from the left hand menu 
2. Select New 
3. Select the Account Type Other Income and the Detail Type of Other miscellaneous income
4. Enter the Name as ATO Cash Boost Stimulus (in this case, you could call it NSW Grant or so on instead)
5. Select Save and Close.
6. Go to the Banking tab. Click on the transaction to expand it, locate this new account under the Category dropdown and allocate the preferred tax code or Out of Scope if tax-free, then select Add. 

You may also find the discussion on this Community post helpful which describes what other QuickBooks Online users have done with similar grants. As we are not accountants, we are unable to advise where you should categorise this specific payment to and the above is only a guide. If you are unsure, we would recommend you speak with your accountant or tax practitioner to ensure you are recording this in the best way for your books.

-Kass