Education
Research Grant Expenditure (Restricted)
Recording costs for an academic research project funded by an outside grant.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Research Project Expense | Expense (+) | 3,000.00 | - |
| Cash / Accounts Payable | Mixed | - | 3,000.00 |
| Deferred Grant Revenue | Liability (-) | 3,000.00 | - |
| Grant Revenue (Earned) | Revenue (+) | - | 3,000.00 |
💡 Accountant's Note
Common in Universities. You recognize the grant revenue only as you incur the qualifying research expenses.
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