Scholarships And Grants

[FireFly]

Personally, I'd need you to explain more about how the scholarship/grant works, do they give you money and you can spend it on whatever, is it money that you can claim back for eligable expenses, is it a set amount, certain percentage (etc etc).

If you can give a sample of how it all works can probably figure out where I think the relevant parts should be, I certainly think something should come from income (it is income, whether the IRS deams it so is another matter entirely, but it is income).
 
- James Duerr


E-mail: FireFlys_98 at yahoo.com
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Discover a lost art - play Marbles. May 2004
www.marillion.com


________________________________
From: ArcherSam <archersam at live.com>
To: gnucash-user at gnucash.org
Sent: Sunday, September 25, 2011 5:54 AM
Subject: Scholarships And Grants

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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