Coding the COVID-19 Resurgence Support Payment
For all entity types, if you have received the COVID-19 Resurgence Support Payment, we have provided guidance on how to code this payment below.
Set up a new chart of account code in your accounting system:
Name: COVID-19 Resurgence Support Payment Received
GST Type: GST (If you are GST registered)
Coding the Resurgence Support Payment Received from Inland Revenue (IRD)
In your accounting system, code the funds that you have received from IRD to the code above: COVID-19 Resurgence Support Payment Received.
Coding expenditure covered by the COVID-19 Resurgence Support Payment
The RSP must be used to cover business expenses. In your accounting system, code expenses that are covered with funds received from the RSP as you usually would. You can claim GST on these expenses (if you are GST registered and there would usually be GST on these payments).
You will need to keep a record of these costs covered by the RSP as part of the evidence of your claim.
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