How to Record Cash Back and Statement Credits in QuickBooks

Are you wondering how to enter credit card rewards into QuickBooks?

Then you've found the right video 😉

The first step is to create a special account to track the rewards, as they are "non-taxable".

I'll also walk you through how to track if you apply the rewards to your statement balance or if you take cashback and deposit the money into your bank account. 💳

Don't forget to like, subscribe, and hit the notification bell so you never miss out on my latest tips and tricks to make QuickBooks work for you! 🤓

Make sure to share any ah-ha's with me in the comments. ⤵️

Resources mentioned in this video:

Time Stamps:
0:00 - Overview of credit card rewards and what will be covered.

0:45 - Setting Up QuickBooks for Credit Card Rewards
-Creating a new account for non-taxable transactions.

2:10 - Entering a Credit Card Credit from Statement
-Instructions on entering a credit card credit directly from a statement.

3:55 - How to Record a Reach Deposit for Cash Back
-Step-by-step guide on how to record cash back as a deposit.

5:25 - Checking Impact on Profit and Loss
-Viewing how credit card rewards appear in financial reports.

6:50 - Recap and Additional Resources

I’d love to connect with you 🤗

#CandusKampfer

[Mary-mbju]

Thank you so so much Candus, I have struggled with this for years, and Boom another Great training session! You are Amazing! 👍🙂

[brooksstitchfold]

Hi Candus, how can I get access to your cleanup workshop for fixing bank feed discrepancies.