Skip to main content

Get 50% OFF QuickBooks for 3 months*

Buy now
Switch to QuickBooks and 70% off for 3 Months
Talk to Sales: 877-683-3280
Hours
Mon - Fri, 5am - 6pm PST
Sat - Sun, 7am - 4pm PST
Product support & help
Need help signing in?
D
doncolliver
March 15, 2020
Solved

How do I categorize reimbursed business expenses in QBSE? How do I categorize partial reimbursements?

  • March 15, 2020
  • 1 reply
  • 53 views
No text available
    Best answer by JessT

    I'll be glad to share the category for reimbursements, doncolliver.

     

    You can categorize your deposit and reimbursement as Transfers since they are not part of your business income or expenses. This can be applied to scenarios like you use your personal funds to pay the business expense and you reimburse yourself. They'll not be included to estimate your taxes.

     

    Please check out this article for more details: Categorize money transfers in QuickBooks Self-Employed.

     

    You can also seek advice from your accountant about this.

     

    If you have other questions in mind, please don't hesitate to go back to this thread.

    1 reply

    JessT
    JessTModeratorAnswer
    Moderator
    March 15, 2020

    I'll be glad to share the category for reimbursements, doncolliver.

     

    You can categorize your deposit and reimbursement as Transfers since they are not part of your business income or expenses. This can be applied to scenarios like you use your personal funds to pay the business expense and you reimburse yourself. They'll not be included to estimate your taxes.

     

    Please check out this article for more details: Categorize money transfers in QuickBooks Self-Employed.

     

    You can also seek advice from your accountant about this.

     

    If you have other questions in mind, please don't hesitate to go back to this thread.

    S
    sundmanb
    December 23, 2020

    I just tried this for a reimbursement.  But my question is what is the "transfer account"?  I was accidentally charged sales tax by a vendor (I'm exempt) and then the refunded the amount.  The amount came and went from my checking/ savings account but apparently I can't choose this account for the "transfer account" since that is the account I'm reconciling.

     

    Help please!

    S
    ShiellaGraceA
    Level 9
    December 23, 2020

    Thanks for joining us today, @sundmanb.

     

    I have some information about how to record your refund. As mentioned by my colleague, since this amount isn't an income or expense to your business you'll want to consider tagging it as Personal. However, it's still best to consult your accountant to properly handle this.

     

    Here's how to record it:

     

    1. Go to the Transactions tab.
    2. Click Add transaction.
    3. Enter the transaction in the box and the amount.
    4. In the Select a category link, choose Personal.
    5. Hit Save.

    In case you need help with other QBSE tasks, browse this link and choose which topics suit your needs.

     

    I'm always here if you have still have questions or concerns about the program. Don't hesitate to reach out. Take care and happy holidays.

    Need QuickBooks guidance?
    Log in to access expert advice and community support instantly.
    Terms & ConditionsAccessibility statement