I may have a different perspective than others but I also assumed the CERB is personal, not business.  I run by the rule that business is business and personal is personal.

If the owner received the money from CERB, then the money is put into the owner's personal account.  If the owner needs some of it to pay business expenses then they move the money needed, not necessarily all of it, to the business account to pay the business expenses.  That's the amount that would be Owner's Contribution.

Hello Richard

That's what I figured. But just to clarify, the CERB is also for those operating a business as the benefit states, "

The Canada Emergency Response Benefit provides temporary emergency income support to workers who have stopped working and are without employment or self-employment income for reasons related to COVID-19.

This would include self-employed owner who operates a business and is deemed 'non-essential' and has to close or limit their business operations.

My question may be the first but I would guess that as time rolls on others will have questions also.

Thanks for responding.

Acctcor

Just to be clear, I am not, nor do I ever give tax advice as I am not an accountant.  I only help people put data into Sage 50 and get data out of Sage 50.

However, since you are quoting from public sources, I went to this CRA website and found this

These benefits are taxable

You will need to report any payments received on next year's tax filing. An information slip will be made available for the 2020 tax year in My Account under Tax Information Slips (T4 and more).

Isn't a T4 personal?  and isn't a My Account different from My Business Account?  I interpret all this to mean the person is receiving the benefit of the CERB, not the company he or she runs.

The other benefit plans (CEWS, 10% Temporary wage subsidy for employers, etc.) are business benefits to help keep people employed by providing some money to help with payroll expenses and payroll deductions when revenues have been reduced.

I have a question as well.  How would I set up the CEBA loan provided by the government for small businesses.  The loan is for $40,000 interest free until the end of the year. I understand I would set it up in the chart of accounts as a liability account but how would I process the cash advances and any payments made to the loan.