The MPI cyclone recovery grant is subject to GST (correct in 2023- please confirm all future grants) and therefore if you are GST registered you must code the payment with the GST type Business. Insurance payouts are also inclusive of GST.

We suggest you set up a new code under Other Farm Income for Insurance / Grant payments to manage this.

We suggest you create a new cost tag for event related expenses (for example a cyclone) so you can tag and keep track of all costs associated with that event.

You can then filter for that cost tag allowing you to easily report on all the costs associated with the event.

Remember you can save attachments to any invoice or transactions thus keeping an electronic copy of all invoices and receipts. You can also save .jpeg files to an invoice or transaction which allows you to save copies of the photos of the damage for future reference.

Disclaimer: We recommend you seek advice from your Accountant or other farm professionals if you have further queries regarding the MPI grant.