Loyalty Points Posting

This article talks about how journal entries are posted for loyalty points transactions in Connected Business.

Journal entries for loyalty points are only created during redemption. When the loyalty points redeemed, a customer allocation journal and loyalty points journal entries are simultaneously created.

This feature is only available in Connected Business v14 and higher.

A Loyalty Points journal entry is created to trace the redemption of loyalty points.  In the journal, the expense account code for the redeemed loyalty points is shown as debit while the debit payable account for the redeemed loyalty points will be shown as credit.

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Aside from the Loyalty Points journal, a Customer Allocation journal entry is also created to reverse the original invoice where the loyalty points are applied. In the journal, the accounts receivable will be shown as credit while the amount of loyalty points redeemed will be shown as debit.

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  • Wednesday, 29 January 2014