9:50am -0000 01/06/26 Cam Ellison <[email protected]> wrote: >On 2026-01-05 21:23, Adam H. Kerman wrote: >>10:22pm -0000 01/05/26 David T. :
>>>My apologies. I see that Cam was the poster using this term. But I do >>>think you're not talking about shares in Costco (which the reference to a >>>DRIP would imply). I'm pretty sure the use of the term "Costco >>>dividends" was a misstatement, and the poster was referring to a rewards >>>program balance, rather than shares in the Costco corporation. >>Let's say that you are correct, it's a rebate through a customer loyalty >>program. I'd make a similar recommndation to set up a contra expense >>account to book the rebate so it is not booked as income. This is key. >>Credit the rebate account, debit the liability account representing the >>store account. >At the time it is applied, you could show it in a contra account under >Expenses. For the sake of argument, call it Expenses:Rebates. It would be a >debit to Liabilities:Mastercard and a credit to Expenses:Rebates (I think >it goes that way). That is correct. When I apply the rebate toward the statement balance, American Express in my case, that is how I book it. >Alternatively, you could set up an Assets:Rebates account and an >Expenses:Rebates account, and record receipt of the rebate there if you are >not going to apply it immediately. Then the payment transaction would >involve Liabilities:Mastercard and Assets:Rebates. >This discussion has got me thinking about how I set up the Costco >rebate/dividend. I realise I have it wrong: it's a reduction of Expenses, >not a change in Equity. _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
