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Old 09-30-2003, 02:40 AM
Dick Watson
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Default Re: cc rebates 2: house value

2 answers:

Rebates: I just created a category Other Income:Rebates and Miscellaneous
and set it to be tax neutral. You could put in negative expense: but how are
you going to do it? Proportion it across every expense category you spent on
for the month? Fuggedaboutit.

House value: Add a transaction in the asset account and leave the category
blank or invent some tax neutral category that works for you. There probably
isn't one right solution.

"Ddutch" <doedeeg[at]wyeth.com> wrote in message
news:146801c386f7$aa346370$a101280a[at]phx.gbl...
- quote -

> 2 questions:
> Credit Card Rebates: One of my credits cards gives me a
> rebate credit for every dollar charged on the card. At the
> bottom of the statement there is always a credit amount
> listed (1% of whatever I charged that month) Question:
> What's the best way to categorize this rebate? It's not
> really income, is it? It's a rebate on a charge (expense).
> House value: The value of my house has increased over the
> last two years (gotta love the housing market). I know you
> can update the value of the asset. What's the best way to
> categorize this? It's not really income, since I have no
> plans to sell the house. However, I do want Money to
> reflect the proper value of the house. Any thoughts?



  #-1  
Old 09-30-2003, 02:07 AM
Ddutch
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Posts: n/a
Default 1: cc rebates 2: house value

2 questions:

Credit Card Rebates: One of my credits cards gives me a
rebate credit for every dollar charged on the card. At the
bottom of the statement there is always a credit amount
listed (1% of whatever I charged that month) Question:
What's the best way to categorize this rebate? It's not
really income, is it? It's a rebate on a charge (expense).

House value: The value of my house has increased over the
last two years (gotta love the housing market). I know you
can update the value of the asset. What's the best way to
categorize this? It's not really income, since I have no
plans to sell the house. However, I do want Money to
reflect the proper value of the house. Any thoughts?

Thanks for your input,

Ddutch
 

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house, rebates
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