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luke_novice
May 1, 2020
Question

QBSE Categorizing loyalty rewards from bank

  • May 1, 2020
  • 1 reply
  • 5 views

Hi

 

Could anyone tell me under which category in QBSE i would put transactions that are loyalty rewards from my bank? These are small 0.40p to 0.60p rewards once a month for staying with them.

 

Many thanks in advance!

 

Kind regards

Luke

1 reply

sonenshinem
May 7, 2020

Effectively these are discount or rebate of banking fees.  So categorise them as banking fees and the effect will be to lower your overall banking fees.  They should be classed NOVAT.  If you need anything, reach me at [email address removed]

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