Loyalty Points & Credits

Hi everyone,

Can anyone perhaps offer some pearls of wisdom…

Some of my suppliers offer reward (loyalty) points, which can later be used towards new purchases.

Two questions if I may…

• Having part-paid for goods via Reward Points, and the balance paid via Bank Transfer, how then do I specify the ‘Pay Method’ within QuickFile?
Because it seems I can’t add additional ‘methods of payment’ to the exiting drop-down list.

• Also, is there a way of recording Reward Points or Credits against individual supplier profiles, thus allowing one to first use such points / credits for payments?

Hi @zulugraphix

There are 2 ways you could account for this:

  1. Create a partial credit note against the invoice once it’s been raised. This would reduce the balance, and you could even credit a new nominal code like “Loyalty Credit” or similar.

  2. Add a second line to the invoice, again this could be a new nominal, and record it as a negative value.

This is a bit more tricky as you can only record monetary values against a supplier. You can either add it as a prepayment, or through a credit note (negative invoice).

You could, in theory, create a dummy bank account called “Supplier Loyalty Credit”, and add prepayments from this account. However, this would leave you with a negative bank balance, which you would like need to reduce somehow (e.g. through a journal).

Personally, out of the options, I would go with the negative invoice line as and when the points are used. But this is a public forum, so there may well be another way I haven’t thought of, that someone may mention.

Hope this helps!

1 Like

I think from an accounting point of view there’s not much need to record the loyalty points because all that maters is what you’ve paid.

Therefore I think @QFMathew 's view to just add a negative line to the receipt to reduce the balance owed would be the best approach.

If you really wanted to you could add the loyalty points to the description line but it isn’t required.


This topic was automatically closed after 7 days. New replies are no longer allowed.