The process of recording credit card cash-back rewards in QuickBooks Desktop (QBDT) is almost the same with QuickBooks Online (QBO), sally412. I'll guide you through the complete steps so you can track this transaction accordingly.
Your credit card cash-back rewards are considered income to your business. You can start the procedure by creating an income account (if you haven't already) to enter them. Here's how:
- Go to the Lists menu.
- Choose Chart of Accounts.
- From the Account drop-down, select New.
- Select Income from the Account Type window.
- Click on Continue.
- Enter the Account Name and other details.
- Click on Save & Close.
After that, record the cash back through the Credit Card Charges transaction. To do this, follow these steps:
- Go to the Banking menu.
- Choose Enter Credit Card Charges.
- Select the Refund/Credit button.
- Enter the name on the Purchased From field.
- Select the income account you created and enter the amount.
- Click on Save & Close.
Additionally, we'd encourage you to reconcile your accounts regularly (monthly) to keep your financial data accurate. I've also included this article to guide you anytime you need help doing or fixing a reconciliation in QBDT: The reconcile workflow in QuickBooks.
Please let me know in the comments if you have other banking concerns or need further assistance recording credit card transactions in QBDT. I'm always ready to help you out.
