Hi! I'm using Quickbooks Desktop Pro, and I need to change the setup of one of the accounts to NOT to track billable expenses as income. How can I do it? When I go into the account, right click and edit account - I do not have an option to do that, in oppose to Quickbooks online. Please help!
I'll walk you through in turning off the track billable expense as income QuickBooks, Nat17.
Here are the steps:
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Thank you! I found this option and it was unchecked for tracking billable expenses as income. However the revenue account shows these expenses as a part of our revenue even those the profit & loss statement doesn't.
Maybe you know how to change the setup of the revenue account so the billable expenses we have (which are pass through reimbursements) would not show up in there?
It is very unusual that you're suggesting you're seeing a different amount in the revenue account than on the P & L statement. Can you explain what you mean by 'the revenue account shows these expenses as a part of our revenue even *though?* the profit & loss statement doesn't? The only way to see what is in the revenue account is to run a 'quick report' or some other type of sales report, which is simply a breakdown of what show up on the P & L statement for revenue. Perhaps I'm not understanding your statement correctly.
I wanted to file GST return and noticed that the total sales and other revenue amount differs from the amount shown on P&L statement. The difference is the amount of billable expenses (which are pass through reimbursements in our case) which was included in the revenue. As these expenses are not a part of the revenue and our income, I'm not sure why they are being included in there.