Credit Card Rewards Account

Jay jameyquinn at gmail.com
Wed Aug 4 00:15:23 EDT 2010


All,

So, I've a fairly straightforward question... I have a credit card from which i
get cash rewards. Every so often, they cut a check and i deposit the check into
an asset account. The question, to keep with the 2x-Entry, how can i keep track
of these xactions? 1) earning rewards (noted on a CC bill monthly) 2) redeeming
rewards (asset deposit)

I have a CC liability acct (L), a current asset acct (A), and a CC rewards sub
(R) account (type asset) under the CC liability (L). I would prefer that these
rewards not show in the (L) account because they screw with the balance. Any
thoughts out there?

Thanks,
J



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