rewards points

[Dale Alspach]

I use  an account called "Non-Taxable Income" to handle rebates and rewards. 
One could track each source separately but I don't bother. These do inflate 
the income and expense totals and may make cost comparisons less transparent.

Dale

Subject: rewards points
From: Richard Bishopp <rbishopp44 at gmail.com>
Date: Fri, 26 Oct 2012 15:09:37 -0400 (14:09 CDT)
To: Users Gnucash <gnucash-user at gnucash.org>

Sorry this question is leaning towards an accounting type question in
addition to a how to in GnuCash. Maybe someone has first hand experience
they can share.

I use a credit card which give me points that are converted to cash.  I can
use the points/cash credit for anything at the Toyota dealer.  I want to be
able to show what I paid for service on my vehicles including to track
maintenance expenses so I can accurately track the maintenance cost for
future budgeting. We're talking small amounts but I can sometimes not have
any out of pocket.

A couple thoughts that come to mind are how to show where the money comes
from.  Do I add my "points" (I know the cash value and can track that) up
in an equity account ?  an Income account ?  or some thing else ?  And how
would this affect a report showing expense vs income for the year ( or
whatever period ) if I do not actually have an out of pocket expense ? I
would guess it may show higher expenses that actual.

I'm sure I'm missing something else.  Please chime in.

Does anyone do something like this now ?  How do you handle rewards points
etc ?

Obviously I am not an accountant just a super detailed nerd.  My ex-wife
made me this way not my mom.

Thanks.

Rich...
_______________________________________________
gnucash-user mailing list
gnucash-user at gnucash.org
https://lists.gnucash.org/mailman/listinfo/gnucash-user
-----
Please remember to CC this list on all your replies.
You can do this by using Reply-To-List or Reply-All.