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LizzyC
Level 1

Bill payment

I have a credit card and get cash back as a reward, how do I mark this on my bill payments?

For example my bill is £400 but the cash back is £315 this is paid by the bank straight to my account, so the amount to pay by me is only £85.  How do I register the £315 paid by the bank so the bill is cleared and not showing £315 as outstanding?

Do I do this through the journal or is there another way?

 

Solved
Best answer March 25, 2019

Accepted Solutions
john-pero
Community Champion

Bill payment

Cash back is entered as a credit card credit. I can only presume that QBO UK has this also under vendors/suppliers accessed from +.

 

Cash back is, here in US, free money and would be entered as owner contribution for the credit. This will reduce your on the books card balance to correct amount

View solution in original post

2 REPLIES 2
TaliaI
QuickBooks Team

Bill payment


Hello LizzyC,

 

How does this show on your statement? Does the bill amount leave your account and then you receive the reward as a separate transaction?

 

Thanks,

 

Talia

john-pero
Community Champion

Bill payment

Cash back is entered as a credit card credit. I can only presume that QBO UK has this also under vendors/suppliers accessed from +.

 

Cash back is, here in US, free money and would be entered as owner contribution for the credit. This will reduce your on the books card balance to correct amount

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