This information is intended as a guide for Cashbook users to assist in accounting for the Government’s COVID-19 Wage Subsidy.
As the situation evolves and we learn more, we’ll update this page.

Setting Up the Categories

We recommend that you set up the wage subsidy categories as follows:-

  1. Go to the “File” menu (top left of the screen) and choose “Setup Wizard”
  2. Click “Next” until you reach the “Cashbook Categories” screen
  3. Under the “Balance Sheet Category” section, enter the following two categories:-
    1. COVID-19 Subsidy In
    2. COVID-19 Subsidy Out
  4. Make sure the “GST” is “0%” for each category

Accounting for the Transactions in the Cashbook

Regardless of whether you import your bank statements or manually enter transactions, you should account for the wage subsidy as follows:-

  1. When receiving a wage subsidy, enter the amount received into the “Income” column, and use the category “COVID-19 Subsidy In”
  2. When paying out a wage subsidy, enter the amount paid into the “Expense” column, and use the category “COVID-19 Subsidy Out”

More Help

If you have questions about other matters relating to the COVID-19 Wage Subsidy, please refer to this information on the Government’s website.