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sgmken
Level 3

How should I mark a reimbursement deposit?

Hi, 

I couldn't find an answer for this and was hoping someone could help. 

 

Have someone that reimbursed the company for postage they used/needed.  They wrote a check to the company and that was deposited. It is showing up on my banking screen showing it has been deposited. 

 

Typically deposits are just "sales income" type deposits.  Not sure how to categorize this one? "Unapplied income"? Is it an income though? Is really just a reimbursement.  

 

Any idea on how to categorize something like this on my QBOL banking screen? 

Thanks! 

Solved
Best answer January 24, 2020

Best Answers
Rustler
Level 15

How should I mark a reimbursement deposit?

If the postage that person used for personal use was posted to the postage expense account

then the reimbursement should post to Other Income, on the P&L the postage expense and other income will wash

 

Some folks will use the postage expense account as the source account for the reimbursement, I don't like doing that.  And if the person used, as an example, postage, gas, food, it makes it really hard / tedious to split the deposit all up

View solution in original post

1 Comment 1
Rustler
Level 15

How should I mark a reimbursement deposit?

If the postage that person used for personal use was posted to the postage expense account

then the reimbursement should post to Other Income, on the P&L the postage expense and other income will wash

 

Some folks will use the postage expense account as the source account for the reimbursement, I don't like doing that.  And if the person used, as an example, postage, gas, food, it makes it really hard / tedious to split the deposit all up

View solution in original post

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