Accounting for $1,000 of AWS Promotional Credits?

My company recently was granted $1000 in promotional AWS credits, how do I account for these?

Didn't find your answer?

Current thoughts:

Dr B/S - AWS Credits 

Cr - PL - Other income

Other points/questions:

  • I would expect this to be VAT exempt
  • Credits can only be spend on AWS hosting server costs

Any thoughts appreciated.

 

Replies (2)

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By Ranse
14th Jul 2018 15:25

I think you are right ...
open a bank a/c to record this as you may likely receive other credits monthly /quarterly depending on your usage

- so
Dr AWS Bank $1000
Cr. Sundry income $1000.

once you spend it on a wed service

Dr. IT /or related AWS cost $XXXX
Cr. Bank $XXXX

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By Josh92
16th Jul 2018 09:16

My concern is that if I do that I will end up paying CT on them even if I haven't used them up. Also, I think that they expire in 10 months time. I guess that this point I just right them off?

How would this likely change them?

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