Presuming you are referring to Billable Expenses and not reimbursing employees for out of pocket purchases.
@Andrew 17 wrote:
Reimbursable Expense for Desktop.
Question 1:
What income account do you use (after checking the box to track reimbursed expenses in income acct) when you set up the reimbursable expense account?
Question 2:
I am a sole proprietor. For one of my clients, I purchase one roll of 100 stamps for $55.00 for their billing envelopes. When I put together my invoice, how do I include that reimbursable expense in it??
Question 3:
My reimbursable is not part of my income, so how does it work?
1. You can choose whatever income account seems appropriate, just so you track it. Management Fees for example. It all goes into gross income.
2. When you purchase the stamps, which is an EXPENSE to you, mark it as Billable to Client. Set up the item/service/product as two-sided so that what you buy records an expense and what you receive for it is income. When you create an Invoice and the customer has unbilled billable expenses you will be prompted to select them and add a markup if desired. Your type of tax entity has nothing to do with it
3. What you are reimbursed most definitely IS income to you. You will have two entries. Expense from the vendor , Income from the client. They offset each other but you must show the amounts both above and below the line
If you do not see Billable as an option when entering bills or checks you must turn on the feature in your company preferences
