I’m using a credit card that gives me 1% cash back on all transactions.
If I have spent £1000 in a month my credit card statement shows the spending and then £10 cash rebate.
When I clear the credit card from my main account I send the £990.
How do I show this transaction, or is it fine to have the 1% rebate just showing in the CC statment
You have to tag the £10 as something, the most obvious option to me would be to use “something not on the list” and choose a code like miscellaneous income. If you don’t have such a code already you can create one on your chart of accounts, under the “sales” section. This will show the rebate as income in your P&L, which is what it is - you have provided a benefit to the card company by using their card more than you otherwise would have, and in return they have paid you for this service.
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