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Post Info TOPIC: Recording Cashback Transactions


Senior Member

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Recording Cashback Transactions


Hi Rachel

Cashback given when debit card transactions are processed are in effect a transfer from cash in hand to bank.

So one solution is to record between bank and cash in hand.

Does your client's end of day till print out distinguish between transaction types?

Dalbir



-- Edited by Dalbir on Monday 16th of April 2012 06:06:50 PM

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Newbie

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I have a client who has started offering his customers cashback on debit card transactions.  He is using Quickbooks and I think I have a work-around but would be very interested to know what everyone else does!

The client uses a Sales Receipt template to record all takings for the week and reconciles his tills at the same time.

Quickbooks helpline for once have not been helpful!



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Rachel


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Thank you for this response.  I have eventually solved the problem using the sales receipt.  The client does not have the facility to put the transaction through the till so I have set up a new item code which credits the Cash Account.  The Receipt records all end of day transactions and the proceeds are then deposited to the bank.  Sorted.  



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Rachel


Newbie

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Well I thought I had solved it - seems client is still having problems! I'm afraid the answer to your question Dalbir is that their till is quite basic and doesn't show cashback transactions. They are (or should be) recording the cash back on a separate sheet - not that many transactions. They use an end of day sheet to reconcile. Do you think my solution (above) should have worked?


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Rachel
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