Maximize Your Business Spending with Credit Card Rewards!
When used wisely, a business credit card can offer incredible rewards that benefit your bottom line. Here’s what some credit card companies are offering:
Cash Back on Purchases – Earn back a percentage on everyday expenses, from office supplies to fuel.
Travel Perks – If you or your team is on the road often, find a card with travel rewards like miles or hotel points to reduce expenses.
Sign-Up Bonuses – Many credit cards offer big bonuses when you meet a spending goal in the first few months—perfect for new equipment or big projects!
📝 How to Record Purchases Made with Rewards Points in QBO:
1️⃣ Create a Rewards Points Income Account (if not already set up).
2️⃣ Record the Purchase:
- Go to + New > Expense or Check (depending on the type of record).
- In the Payee field, enter the vendor.
- Under Payment Account, select the credit card or bank account tied to the rewards points.
3️⃣ Enter the Purchase Details:
- In the Category field, choose the relevant expense (e.g., Office Supplies or Travel).
- In the Amount field, enter the full value of the purchase (even if no cash was spent).
4️⃣ Offset the Expense with Rewards Points:
- On the next line, select the Rewards Points Earned account you created earlier.
- Enter a negative amount equal to the value of the rewards points used.
5️⃣ Save and Close:
- Review to ensure totals match and hit Save and Close.
Before applying, make sure the rewards align with your business spending. Want guidance on choosing the right card or managing cash flow? I am here to help you make smart financial moves that support your growth!
