[GNC] How to Handle Mastercard Points

[Adam H. Kerman]

7:48pm -0000 01/05/26 Cam Ellison <cam at ellisonet.ca> wrote:
>On 2026-01-05 15:50, Jerry Criswell (JC) 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?

>It's an asset; neither a charge nor a credit. You could possibly show it 
>as a contra liability account. In either case, you will need to use an 
>equity account to balance it, or perhaps an income account.

As I explained in my other reply, I'm crediting a contra expense account and 
debiting the credit card liability account. I first tried this with a contra 
liability account but that didn't work.

>I show Costco dividends as an asset offset by equity.

Dividends are ordinary income. Credit the dividend income account, debit the 
asset. Is this a DRIP? Then the asset is the stock account, otherwise it's a 
cash account.