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How do I record points earned on purchases, that are then redeemed for money at a later stage?

Shanice
Shanice Member Posts: 1
edited September 2019 in Reckon Accounts (Desktop)
We are an Automotive company and we do most of our purchases through a third party called Capricorn. They give us points when we spend money with them, the points can then be redeemed for actual money and used to pay of parts of a bill. How do I set this up in reckon so that i have a constant tally of how many points have been earned and redeemed?

Comments

  • Kevin Russell
    Kevin Russell Member Posts: 27
    edited September 2019
    Can't be done. Thanks for asking
  • glendaveale
    glendaveale Member Posts: 176 ✭✭
    edited September 2019
    I would setup an excel spreadsheet.
  • Acctd4
    Acctd4 Accredited Partner Posts: 2,157 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited September 2019

    Hi Shanice

     

    Are the points value: 1 point = $ 1 ?

    You may be able to use a Bank (Clearing) account to track these which can also be used to “Pay” out of when you redeem them …? 

    The tricky part is recording the accumulation of them but you could probably use a General Journal entry to record that each time:

     

    DR          “Capricorn” (Bank) Account

    CR          (Would depend on your entity structure as to which account to CR)

     

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    0422 886 003

    [email protected]

    www.accounted4bs.com


    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015) * ICB-Certified Bookkeeper * Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    0422 886 003

    [email protected]

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)

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