How to track complementary hotel stay

Ken Mankoff

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Oct 19, 2024, 3:40:07 PM10/19/24

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I stayed in a hotel. There was a problem. They gave the room with no charge. I'm curious how people might track this, if at all. I could leave it out entirely. But it's nice to know what a vacation would have cost, which is why I track flights booked with airline miles for example. Is this Income:Gift? It doesn't seem like income. Any suggestions?

Thanks,

-k.

Chary Chary

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Oct 19, 2024, 5:27:59 PM10/19/24

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I guess, this is similar to a gift.

And gift is treated as an income in accounting. Sometime you even may have to pay taxes on it.

See discussion here

https://www.reddit.com/r/Bookkeeping/comments/15adcrk/accounting_for_gift_card_received/

Martin Blais

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Oct 19, 2024, 8:17:20 PM10/19/24

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Income:Rewards? Income:FreeStuff? You choose. Seems like it could be income to me.

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Joshua Cabrera

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Oct 20, 2024, 12:23:55 PM10/20/24

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This is definitely income according to double entry accounting.

I would record it like below. If you don't like the idea of putting it under rewards, a more accurate categorization would be vendor concession - e.g., Income:Other-Income:Vendor-Concession.