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Redemption of Amazon reward points

This query is : Resolved 
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(Querist)
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.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
06 June 2024 Treat it as personal gift no need to account it.
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Philip

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Philip (Querist)
06 June 2024 This Laptop is an Asset used for business purpose, then how will it affect ???
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
06 June 2024 No payment made for this purchase from the business account.
Account it under zero value.
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