[GNC] Credit Card Rewards Refund

[Gyle McCollam]

It would depend on how your jurisdiction treats these rebates for tax purposes.  If they are not taxable, you can treat them whichever way you like.  I treat them as a negative expense, but if they are taxable you would need to record them in an income account.


Thank You,
Gyle McCollam

Gyle McCollam

609.680.2326                     Mobile

gmccollam at live.com<mailto:gmccollam at gyleshomes.com>           email

________________________________
From: gnucash-user <gnucash-user-bounces+gylemc=gmail.com at gnucash.org> on behalf of rsbrux via gnucash-user <gnucash-user at gnucash.org>
Sent: Thursday, October 14, 2021 8:32 AM
To: gnucash-user at lists.gnucash.org <gnucash-user at lists.gnucash.org>
Subject: [GNC] Credit Card Rewards Refund

I have a credit card which, like a few others, accrues a small
percentage (1-2%) of the amounts spent as a rebate.  The rebate isn't
subtracted from each charge, but accumulates in the card account as
"Reward Points" until I cash them in.  The amount is then credited to
the card account as a payment.  Should such payments be recorded as
income or as a negative expense?

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