Setup for cashback bonus
Stuart Mitchell
stuart at ocotillo.freeserve.co.uk
Tue Jun 10 02:32:03 EDT 2008
txtinman wrote:
> It's not really income, it's a refund. There are no tax implications. I
> tried to show it as a payment to a liability, but Gnucash would create a
> charge that would negate the payment.
>
I handle all cashback as a transfer from Income:Other Income:Cashback to
the relevant liability or asset account. This covers both annual CC
cashback (transfer to Liabilities:CC) and adhoc cashback such as QuidCo
(transfer to Assets:Current Acount).
Since not every item under Income is taxable the above works fine for me...
Stuart
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