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L
LizzyC
March 25, 2019
Solved

Bill payment

  • March 25, 2019
  • 2 replies
  • 0 views

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?

 

Best answer by john-pero

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

2 replies

T
TaliaI
Level 8
March 25, 2019


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
john-peroAnswer
Level 12
March 25, 2019

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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