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January 17, 2021
Question

I have Capital One and I earn 1%, 2%, 3% back in cash. When I take that from them, i don't know how to allocate as the same account can't pay itself. How do I allocate?

  • January 17, 2021
  • 1 reply
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1 reply

Moderator
January 17, 2021

Hi @randy-wolfe,

 

I can share the steps you can take to record cash backs from your credit card or bank account in QuickBooks Online (QBO).

 

Here's how:

 

  1. Go to the + New menu.
  2. Select Credit card credit.
  3. Choose the appropriate account from the Bank/Credit Account drop-down menu. 
  4. Under the Category details, pick the account you have for your cashback rewards.
  5. Fill up the necessary information in all other fields. 
  6. Hit Save and close.

Check out this article for more information: How can I record a cash back to my credit card account?

 

If you have a credit card account, see this article for the steps on how to record your payments for it: Record your payments to credit cards

 

Drop a comment if you have other questions with your QBO company. I'll get back to you.