Redemption of Amazon reward points
This query is : Resolved
Quick Summary
06 June 2024
One of my client holds a lumpsum amount of Reward points which he redeemed to purchase a laptop worth Rs.55000, How can it be accounted ? He has not yet recorded the personal purchases he has made on Amazon as it was from his personal wallet.
What will be the G/L entries to be made to record the same.
What will be the G/L entries to be made to record the same.
06 June 2024
Treat it as personal gift no need to account it.
06 June 2024
This Laptop is an Asset used for business purpose, then how will it affect ???
06 June 2024
No payment made for this purchase from the business account.
Account it under zero value.
Account it under zero value.
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