EU Grant

mike1983

Good afternoon all

I have a R&D client who were approved for an EU grant (EC FP7) for 55,000 euros.

This grant was to be issued in samples and not money.

They receive the samples, carry out research on the samples and send them to a third party. No cash every changes hands.

To date they have received samples to the value of 43,000 euros with the additional 12k to be issued.

As no cash has been received or spent, can anybody please tell me how I account for this in their accounts?

Obviously the client wants this to be on their accounts to show they have been involved in this activity.

Many thanks in advance.

Mike