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A
arkvalleyinfo
October 16, 2018
Solved

How can I apply credit card rewards to a bill? I used credit card credit but it did not reduce the credit card balance. Please help.

  • October 16, 2018
  • 3 replies
  • 0 views
In the credit card statement, the balance was reduced by the amount. I want to apply the credit to reduce an expense account in QB. From credit card credit, I entered the credit card company as a payee, and used the expense account. But the entry did not affect the bill amount therefore the credit card balance remains the same. How do I use the credit to "pay" the bill?
Best answer by Rustler

delete the transaction you entered

menu plus>vendors>credit card credit

select select the credit card, select an income account, I create one called rewards income, and use that account, enter the credit amount, save

3 replies

Rustler
RustlerAnswer
October 16, 2018

delete the transaction you entered

menu plus>vendors>credit card credit

select select the credit card, select an income account, I create one called rewards income, and use that account, enter the credit amount, save

A
arkvalleyinfoAuthor
October 16, 2018
I have my QB set up this way, however, when I reconcile the statements the month reward shows. Should I be selecting that when i reconcile even if the reward was not redeemed?
qbteachmt
qbteachmt
October 16, 2018

"I used credit card credit but it did not reduce the credit card balance."

That always reduces the card balance, unless you put the card account on the Expense tab of this entry = referencing the account already getting the credit. Your entry for the Credit should post as Income. The credit card account already is the Top part of this Credit.

"when I reconcile the statements the month reward shows."

Of course it does. It is part of this month's activities.

"Should I be selecting that when i reconcile even if the reward was not redeemed?"

If it wasn't redeemed, you don't enter it yet. You don't enter what you Earned. You enter what you Used against your balance due.


J
jagag9
June 12, 2019

we need more information about credit cards like payment,review,pandora credit card login

G
GlinetteC
June 12, 2019

Good day, jagag9.

 

To learn more about credit card payments, here are helpful articles for reference.

Let me know if there's anything else I can help you with. 

 

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