One of our employees booked a flight for a business trip with a company business credit card and the trip was cancelled. Therefore received an air credit for future use. how to record in QuickBooks?

You can record it as an income account and then record the cashback credit using the enter credit card charges feature, @AM0803. I'll walk you through the process below.

First, we need to set up an income account in the Chart of Accounts (COA) to track the air credit received by your employee. However, I recommend consulting with your accountant to determine the most suitable account for recording the air credit based on your company's specific preferences.

Here's how:

1. Go to the Lists menu, then select Chart of Accounts. 
2. From the Account drop-down, select New.
3. Select Income from the Account Type window.
4. Click on Continue.
5. Enter Air Credit as the Account Name and other details.
6. Click on Save & Close. 

Once done, we can now record the cashback credit. We can follow the steps below:

1. Tap on Banking and then click the Enter Credit Card Charges option.
2. Enter the name on the Purchased From field.
3. Select the Air Credit account that you created and enter the amount of the charge.
4. Click on Save & Close.  

For more tips on managing your credit card accounts and transactions, check out this guide: Set up, use, and pay credit card accounts.

For future reference, you can check this resource to learn how to handle your transactions more effectively by adding and matching them, which can help ensure accurate financial records and streamline your accounting processes: Add and match Bank feed transactions in QBDT.

You can count on the Community team for assistance with recording the air credit in QuickBooks. If you have any other concerns, please feel free to reply in the thread below. We're here to support you and are eager to help.