How do you account for cashback rewards? I got my Amex statement, and in it, they rewarded me with $5.57. Now I'm trying to figure out how to enter that into my register. Any suggestions?
grep
- posted
16 years ago
Cashback Rewards
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- posted
16 years ago
Credit to "Gifts Received"?
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- posted
16 years ago
I'd put it in Other Income.
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- posted
16 years ago
If I were you, I would enter each transaction that contributed to the cash back reward classified by the accounts the expenditures were classified as into an Excel Spreadsheet. Using formulas calculate the prorata portion each type of expense is to the total 5.57 reward. Record the receipt and credit each expense with the prorata amount.
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- posted
16 years ago
Gezundheit. (i.e. I don't know what you just said, but it sure sounded impressive!)
grep
Allan Mart>>How do you account for cashback rewards? I got my Amex statement, and in
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16 years ago
But is it really income? It sounds sort of like a discount to me.
I don't know - maybe that's what I'll do.
grep
RebelGraffiti wrote: