Business credit card rewards

How do I enter business credit card rewards in Qbooks? I need detailed instructions please.


--------------------------------------

Hi Pamela,

First off, I do my best to help people on this site, mostly for free, but remember, I teach small business bookkeeping, not QuickBooks.


When you receive credit card rewards you are receiving a benefit, which is considered income

For example, let's say you received travel miles, which you use to book a plane ticket to a seminar that is on a subject in your business industry.

You would post the travel expense and the related income from the rewards.

Like this:

Debit: Education Travel Expense........$500

Credit: Credit Card Rewards Income...........$500


There you go...hope that helps!

Kathy

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Ask the Expert!.