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How do I categorize cash back rewards from my business credit card?

 
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Best answer May 22, 2020

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Moderator

How do I categorize cash back rewards from my business credit card?

Welcome aboard to the Community, @probationinfo.

 

I can provide clarifications about how you can categorize the rewards in QuickBooks Self-Employed.

 

The cashback rewards you get from your credit card account is usually not part of the business income. You can categorize the downloaded transaction as Personal within the system.

 

You can also seek expert advice from an accounting tax professional for additional information. They'll be able to share further details as to when you can consider some rewards as part of the business income.
 

For additional reference about categories, please visit the categories in QuickBooks Self-Employed article.

 

Please know that the Community has your back if you need assistance. It’s a place for you to connect with experts and peers. Feel free to post a question, get answers, share tips, ideas, and more.

View solution in original post

2 Comments 2
Highlighted
Moderator

How do I categorize cash back rewards from my business credit card?

Welcome aboard to the Community, @probationinfo.

 

I can provide clarifications about how you can categorize the rewards in QuickBooks Self-Employed.

 

The cashback rewards you get from your credit card account is usually not part of the business income. You can categorize the downloaded transaction as Personal within the system.

 

You can also seek expert advice from an accounting tax professional for additional information. They'll be able to share further details as to when you can consider some rewards as part of the business income.
 

For additional reference about categories, please visit the categories in QuickBooks Self-Employed article.

 

Please know that the Community has your back if you need assistance. It’s a place for you to connect with experts and peers. Feel free to post a question, get answers, share tips, ideas, and more.

View solution in original post

Highlighted
Level 1

How do I categorize cash back rewards from my business credit card?

Thank you for you help.

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