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December 13, 2022
Question

How do you enter cash back rebates from barclaycard on QB?

  • December 13, 2022
  • 1 reply
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i receive a cash back rebate from barclaycard every month.  how do i show this in qb?

1 reply

MaryLandT
December 13, 2022

That's a good question, ClareD.

 

I'll help you enter the cash back rebate in QuickBooks Online. We can start by entering a Credit Card Credit transaction and using Income or Other Income as the affected account.

 

Let's first create an income account if you haven't entered one.

 

  1. Go to Settings ⚙ and select Chart of Accounts.
  2. Select New to create a new account.
  3. From the Account Type ▼ drop-down, choose an account type.
  4. From the Detail Type ▼ drop-down, select the detail type that best fits the transactions you want to track.
  5. Give your new account a name (Rebate income or Cash back rewards).
  6. Click Save and Close.

 

Once done, let's enter the cash back rebate. Here are the steps.

 

  1. Go to the + New button and choose Credit card credit.
  2. Choose the payee.
  3. From the Bank/Credit account field, select the credit card account that your supplier applied for the credit.
  4. Enter the date in the Payment date section.
  5. Select the income account in the Category details section.
  6. Enter the amount.
  7. Hit Save and close.

 

If Barclaycard is connected to online banking, QuickBooks downloads transactions automatically. All you need to do is review, categorize, and match it with the one you've manually entered. 


It's always good to compare each transaction entered into QuickBooks with the ones you have from the bank statement. I recommend reconciling your accounts every month to keep them balanced and accurate. With this, check out our complete reconciliation guide.

 

Get back to me if there are other transactions you'll want to enter into QuickBooks. Just send a reply in this thread and I'll get back to you @ClareD.