Cash Back Rewards

[Edward Doolittle]

Uh, a rebate is a debit to liability and a credit to expense, no?
Whether associated values are positive or negative depends on the "Reversed Balanced accounts" setting. When set to "Credit accounts" (the usual choice), a rebate will decrease liability balance and decrease expenses.

Edward
_____________________________
From: John Ralls <jralls at ceridwen.us>
Sent: Thursday, March 16, 2017 10:52 AM
Subject: Re: Cash Back Rewards
To: Les <lelliott5 at gmail.com>
Cc: GNU Cash User <gnucash-user at gnucash.org>



> On Mar 16, 2017, at 9:22 AM, Les <lelliott5 at gmail.com> wrote:
> 
> I have a credit card that pays a cash back after accumulating at least
> $50 @ 3% for each purchase.  How do I handle this credit against a
> current balance?

I have a similar "rewards" card. I book the rebates as a credit (i.e. a negative value) to the CC liability account and a debit to an "Expenses::CC Rebates" account because I'm too lazy to figure out how much of the rebate to allocate to each of the "real" expense accounts that it should apply to.

Regards,
John Ralls

_______________________________________________
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.