How do I record a Government of Canada rent subsidy in QBO? Do I need to credit Rent Expense? Thanks, Linda

Hello again, Linda,

I hope that you've been well since the last time you visited us in the QuickBooks Community. I know government issued funds like subsidies can be a little less straightforward to handle in your books, and it's important to me that you're able to figure out the way to reflect the rent subsidy in QuickBooks Online. I'll guide you to the right place to get assistance with this.

I know I've shared with you in the past how to connect with an accountant using QuickBooks Online, and this is another great opportunity to work with an accounting professional. Since QuickBooks doesn't have a specific button, feature, or method outlined for handling subsidies, working with an accountant to see how you might enter it is ideal. It could be they'll direct you to use a journal entry that uses specific accounts or there may be some other way they can recommend. 

As a refresher, and in case anyone else happens across this thread, you can use QuickBooks to work with an accountant via the My Accountant tab. There, you'll see the field to invite your accountant as a user or you'll also see the Find a pro to help button to research our database for accounting professionals near you.

Others using this forum may also have insight to share with you, so keep an eye out for responses to your thread.

Enjoy the rest of your day!