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WC2019
Level 2

Expenses

Hi! New to quickbooks, so be gentle :-)

We purchased travel etc for billable expenses, but created on an invoice. 

Its now showing as a profit, which it isn't... i'm assuming i needed to create an expenses for it to balance out?

If so how do i do that now without messing it all around as they've been paid!!

 

Thanks, 

5 Comments 5
Jovychris_A
QuickBooks Team

Expenses

Thanks for sharing with us the details, @WC2019.

 

First, I suggest deleting the invoice record so that it won't show up as a profit in your book. If you'll create an expense, it may cause the same way that would show as a loss.

 

Here's how to delete the invoice:

  1. Go to the Sales menu and then select Customers.
  2. Click the customer's name.
  3. Find the invoice and click the drop-down ▼ button.
  4. Select Delete and then click Yes.

 

Once done, you can now create an expense and check the box on the Billable column to mark the expense as billable.

 

Let me show you how:

  1. Click + New and then select Expense.
  2. Select the name of the Payee and enter the information needed (make sure to provide Category, amount, customer name).
  3. And then check the Billable column.
  4. Click Save and close.
    1.PNG

 

Lastly, draw the expense to the invoice. Follow these steps below:

  1. Go to + New and then select Invoice.
  2. Select the customer's name.
  3. Click Add.
  4. Hit Save and close.
    2.PNG

 

Well done! You have successfully created a billable expense.

 

To turn on your billable expense feature, you can follow the steps through this video article: Enter Billable expenses.

 

Just in case you wanted to update or delete an expense, you can refer to this article: Add, edit, or delete expenses in QuickBooks Online.

 

Please let me know or tag me (@Jovychris_A) if you have more questions. I'm always here to help. Stay safe and healthy!

WC2019
Level 2

Expenses

@Jovychris_A  Thank You for your help this has been great, you seem like a quickbooks guru ha!

 

An easier way moving forward!

 

Thanks stay safe and well :-)

Jovychris_A
QuickBooks Team

Expenses

You're always welcome, @WC2019.

Astonishing! Indeed, I'm so happy to see you more productive and moving well.

 

Thanks for choosing QuickBooks, and if you have anything else to add, I'm just a post away. Have a fantastic day!

WC2019
Level 2

Expenses

@Jovychris_A Hi!

 

I know its been a while since you replied to my question, but i was wondering if i could ask something else?

 

I changed to a billable expense then re invoiced matching to this.

However am i being thick that its still showing as a profit. I dont class this as a profit as we paid for travel, which was reimbursed to us at the same rate. Do i need to do a journal to balance this out?

 

Much appreciated.

Lisa 

GraceC
QuickBooks Team

Expenses

Hello there, @WC2019.

 

Let me provide a few information about the billable expense showing as profit.

 

In QuickBooks, it will normally show the billable expense as a profit. They need to be reported in Profit and Loss as a reduction with the expense you made. You can use this link for more information about the billable expense: Enter billable expenses.

 

Also, you can now run the Profit and Loss Detail report to show both expenses and income. For more guidance, feel free to check out this article: Run reports.

 

As always, you can visit our QuickBooks Community help website if you need tips and related articles in the future.

 

Please let me know if you need further clarification about this, or if there's anything else I can do for you. I'll be standing by for your response. Have a great day.

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