Help me with an accounting question regarding a credit?

It would depend upon the nature of the credit, wouldn’t it? After all, one presumes that it’s not a charitable donation to your cause on their part, or payment for goods received or services rendered. You’d know how to enter those credits, right? So, what is the reason for the credit? Was it an earlier overcharge? An accounting error on their part that had failed to return correct change or another balance due, or what?

If the reason for the credit is a rebate for fuel purchases, then the credit would be applied to the fuel account, wouldn’t it?

It’s just 50¢ here and there that shows up on my credit card statement. I guess it’s some deal I didn’t even know about. Some promotion or rebate. I’ll credit the fuel account I guess.

Well, can you set up a “misc credit” account? It would balance against your fuel account, or whatever you have set up. I never want to look at QuickBooks again, for as long as I live.

I get a “rebate” when I fill up on a certain brand of gas and use their credit card. Debit the credit card account just like you are paying a monthly bill, you could accumulate for each month and make a single entry for all the 50¢ entries. It is a rebate so no money is coming out of your pocket, the posted price per gallon is not the price after rebates.

I’m doing it as one entry at the end of the month when I reconcile the credit card.

Thanks!