Reconciling a credit-card bill for which "points" (vs real money) have been applied as payment
We need to be able to reconcile a credit card bill for which "points" (vs real money) have been applied as payment.
The next month's credit card bill came in with all the credits as single-time items to "reconcile". Xero Support wasn't able to give instruction about how to reconcile those credits. They told me to post here for a new feature.
Cheryl Schneider
shared this idea
Appreciate your were sent to the idea forum here however there are ways to reconcile these payments in your Xero account currently, Cheryl.
If you have both the bank you're making credit card payments from and the Credit Card connected to your Xero organisation, you would be able to create 'Transfer money' from the bank account to bring down the balance of your credit card in Xero - More on managing credit cards in our help here
When you receive a 'points' on your credit card that pay off the balance it sounds like you also receive a statement line for this in Xero? If this is something you commonly deal with, you could look at creating an account in your chart of accounts that you'll be able to create 'Receive money' transactions and code these statement lines to.
It'd be best to check in with your Xero advisor on the type of account and how they'd like you to record these points in your xero organisation.