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posting credit for credit card

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posting credit for credit card

Postby 1howard1 on Fri Oct 12, 2007 9:35 am

I have QB 2005. I have a new credit card that gives me a gas purchace rebate. Who do I post it? When I tried making a credit card entry with a negetive number it would not let me.
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Postby erickei on Mon Oct 15, 2007 8:14 am

That might be a question for you accountant -- I am unsure if there are any specific laws which affect that. I believe that is considered "Miscellaneous Income". As far as QuickBooks itself is concerned, your best bet is probably to enter it as a Payment in that credit card register. Annotate/Memo it to specify where the "payment" came from (eg, "Gas Purchase __% Rebate"), even though it technically did not come from a bank account. Again, asking your accountant how he wants it handled would be a good idea.
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