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November 10, 2023
Question

How to log earned cashback rewards to credit card balance

  • November 10, 2023
  • 1 reply
  • 0 views

Say I earned $100 in Amex rewards for a month and I want to apply that $100 to that Amex balance.  How do I enter that correctly?

1 reply

November 10, 2023

Good day, @HoytUSA.

 

We can record the cash-back rewards as Credit Card Credit in QuickBooks. Here's how:

 

  1. Click + New.
  2. Select Credit card credit.
  3. Find the appropriate account from the Bank/Credit Account drop-down box.
  4. Under the Category details, choose the account that you have for your cash back rewards whether expense/income account as you see fit.
  5. Enter the other needed information.
  6. Click Save and close.

 

If you don't have an account to track your cash-back rewards, you need to create one

 

For additional reference, you can check out this article: How can I record a cash back to my credit card account?

 

Moreover, I've included an article that'll help match your QuickBooks account and bank statements: Reconcile an Account in QuickBooks Online.

 

You can also reach out to your accountant to ensure that this will be the best process for you. Feel free to visit the Community again if you have other concerns about cash back in QuickBooks Online. We're here to help.