Tracking Government Grants RESP Canada

English
1

In Canada, we have a Kids’ Education Savings Account (RESP). When you contribute $2,500, the government adds $500 through the CESG.

Grants don’t always come in one lump sum — for example, if you contribute $100 bi-weekly, the grant portion shows up gradually (typically at the end of the month following the contribution).

In my setup, my personal contributions are recorded as deposits and then transferred into the corresponding investment/security account. I’m trying to figure out the cleanest way to track the government grant portion separately, since it’s not technically my own contribution.

I’m considering categorizing the grants as “Tax Refund” under the deposit account and recording them that way.

Is there a better or more accurate way to track government grants in this scenario?

2

Delivery inbound. Since no money needs to be recorded.

PP itself acts as blackbox, and doesn’t distinguish where the money comes from as long as it comes from outside.

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3

@Sn1kk3r5 thank you and a follow-up, so a delivery inbound needs to be associated with a security/shares. If I get straight cash from the government, can delivery inbound still record it in some way ?

4

Your understanding is correct.

The only possible way to record a money income is a cash account.