American Express points for purchases accounting question

[jmann]

If I use American Express points to pay for a purchase, how do I account for this in Xero?

 

[Scalloway]

I would just ignore it as it costs the business nothing.

 

[jmann]

Do you mean not declare the purchase? That was my initial plan but I thought I might be doing something wrong.

 

[GillespieBS]

If they were the directors personal Amex points then I would treat it as paid for by the director at usual cost and through the directors loan account so that the money can be taken out of the business tax free.

If they were the business points then as above.

 

[jmann]

It's a business card. Thanks for the help.