Scholarships And Grants
ArcherSam
archersam at live.com
Sun Sep 25 08:54:27 EDT 2011
Hey!
Currently I have my scholarship and grants with their balance under
"Income". Which I know is wrong.
Am I correct to put my scholarships and grants in my "Assets"?
Do I need to created an "Educational" asset account?
When transactions are made pertaining to education(e.g. tuition), do I just
allot them to "Expenses:Educational"?
My current account setup(pertaining to education) is described below:
-Assests
-Equity
-Expenses
-Income
-Grants
-Scholarships
-Liabilities
-Loans
Sam
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