[GNC] How to Handle Mastercard Points

[Adam H. Kerman]

5:50pm -0000 01/05/26 Jerry Criswell (JC) <jcriswell58 at gmail.com> wrote:

>I'm reconciling the import of my Quicken file which shows the posting of 
>points from MC as both a charge and a credit. This ends up as a zero 
>effect instead as a payment. To make this reduce the balance, what 
>should the off setting account be?

A credit card is a short term liability. This is how I handle rebates from 
American Express applied toward the statement balance.

I set up a Rebates account as a contra expense account. It cannot be an 
income account as it's not income but serves to reduce other expenses.

With each monthly rebate, the Rebates account is credited, and the credit 
card account is debited.