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May 22, 2020
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How do I categorize cash back rewards from my business credit card?

  • May 22, 2020
  • 1 reply
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Best answer by AlcaeusF

Welcome aboard to the Community, @probationinfo.

 

I can provide clarifications about how you can categorize the rewards in QuickBooks Self-Employed.

 

The cashback rewards you get from your credit card account is usually not part of the business income. You can categorize the downloaded transaction as Personal within the system.

 

You can also seek expert advice from an accounting tax professional for additional information. They'll be able to share further details as to when you can consider some rewards as part of the business income.
 

For additional reference about categories, please visit the categories in QuickBooks Self-Employed article.

 

Please know that the Community has your back if you need assistance. It’s a place for you to connect with experts and peers. Feel free to post a question, get answers, share tips, ideas, and more.

1 reply

AlcaeusF
AlcaeusFAnswer
May 22, 2020

Welcome aboard to the Community, @probationinfo.

 

I can provide clarifications about how you can categorize the rewards in QuickBooks Self-Employed.

 

The cashback rewards you get from your credit card account is usually not part of the business income. You can categorize the downloaded transaction as Personal within the system.

 

You can also seek expert advice from an accounting tax professional for additional information. They'll be able to share further details as to when you can consider some rewards as part of the business income.
 

For additional reference about categories, please visit the categories in QuickBooks Self-Employed article.

 

Please know that the Community has your back if you need assistance. It’s a place for you to connect with experts and peers. Feel free to post a question, get answers, share tips, ideas, and more.

May 22, 2020

Thank you for you help.