How do I record points earned on purchases, that are then redeemed for money at a later stage?
Shanice
Member Posts: 1 Novice Member 
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?
0
Comments
-
Can't be done. Thanks for asking0
-
I would setup an excel spreadsheet.0
-
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
0
This discussion has been closed.