How would you categorize a rebate/credit?

harry askenazi
harry askenazi Member ✭✭
For example, I received an "efficiency rebate" from my utilities provider bc I installed an smart thermostat. How do you recommend categorizing this? I could put the same category as the thermostat I purchased, or I can categorize as "utilities:Heating", or a category called "refund". Any suggestions?


  • pgavon
    pgavon Member ✭✭✭
    @harry askenazi --

    - Just a thought - for me a transaction like that one you describe is by nature a "non-recurring" item so I tend to keep non - recurring transactions in a separate category (like "Other") so that it is easier to understand period over period variances of expenses (such as Utilities: Heating).
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    This is really a personal decision.

    I probably would tend to just put it back into the same category so that it reduces how much I paid.

    It just depends on what you might want to report on in the future.
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  • UserDavidC
    UserDavidC Member ✭✭✭✭
    As @Chris_QPW says, this is a personal decision.

    So for what it is worth, I do the same thing that Chris does. Any rebate and/or credit goes against the original category (i.e. heating).
    Quicken user since 1995.
    Current subscription user.
  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    edited December 2021
    @harry askenazi  If I'm reading correctly, you've got 3 categories that are possibly involved:
    1. The one used when you purchased the thermostat
    2. Heating
    3. Other
    I definitely wouldn't use Other.  I'm probably use the purchase category, to show a reduction in that category.  The benefit of the purchase would be a future reduction in your Heating expense ... so I'd just let that reduction speak for itself and not use that for the Rebate.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

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