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ad23151
Level 1

Advanced Client Expenses

My client who is a singer promoter transfers money to a contractor to cover for the singer expenses such as meals, lodging, utilities for rental apartment.  This expenses will be deducted from the total Performance income of the singer incurring these expenses.  What is the best way to record these type of expenses?

2 Comments 2
ChristieAnn
QuickBooks Team

Advanced Client Expenses

Hi there, ad23151.

 

Thank you for visiting again the QuickBooks Community. I'll be sharing particular instructions to ensure you'll be able to record the expenses accurately. 

 

There's a feature in QuickBooks Online called billable expense. When you provide work for a customer, you incur this expense on their behalf. You can easily record and track billable expenses so your customer can reimburse them when they receive their invoice. With this, the best way to record the expenses you're referring to is to make the singer a customer. This way, when you create an expense, it will be deducted from the total performance income of the singer incurring these expenses.

 

To start with, you'll have to turn on the billable expense tracking in the Account and settings page.

 

Here's how:

 

  1. Go to Gear icon ⚙. Then, select Account and settings.
  2. Go to the Expenses tab.
  3. From the Bills and expenses section, select Edit ✎.
  4. Turn on the Show Items table on expense and purchase forms, Track expenses and items by customer, Make expenses and items billable features.
  5. Set up the other necessary options.
  6. Select Save and Done.

 

Once done, you can now bill a customer/singer for an expense. Please follow the steps below.

 

  1. Click the + New button.
  2. Choose the transaction (Bill, Expense, or Check) you want to create.
  3. Select the payee.
  4. From the Category column, select the expense account for the transaction.
  5. Enter the description and amount of the expense. Then, select the Billable checkbox.
  6. In the Customer column, choose the customer you want to bill for this expense.
  7. Fill in the other needed fields.
  8. Click Save and close.

 

After that, you can open this article to view additional details and how to finish the process: Enter billable expenses.

 

Lastly, you may refer to this article to see steps on how you can run a specific report that will reflect all payments made to vendors: Run a report with vendor totals.

 

Don't hesitate to click the Reply button below if you need further help with recording or managing your transactions. I'm always here to assist you. Have a nice day!

ChristieAnn
QuickBooks Team

Advanced Client Expenses

Hi there, ad23151.

 

Thank you for visiting again the QuickBooks Community. I'll be sharing particular instructions to ensure you'll be able to record the expenses accurately. 

 

There's a feature in QuickBooks Online called billable expense. When you provide work for a customer, you incur this expense on their behalf. You can easily record and track billable expenses so your customer can reimburse them when they receive their invoice. With this, the best way to record the expenses you're referring to is to make the singer a customer. This way, when you create an expense, it will be deducted from the total performance income of the singer incurring these expenses.

 

To start with, you'll have to turn on the billable expense tracking in the Account and settings page.

 

Here's how:

 

  1. Go to Gear icon ⚙. Then, select Account and settings.
  2. Go to the Expenses tab.
  3. From the Bills and expenses section, select Edit ✎.
  4. Turn on the Show Items table on expense and purchase forms, Track expenses and items by customer, Make expenses and items billable features.
  5. Set up the other necessary options.
  6. Select Save and Done.

 

Once done, you can now bill a customer/singer for an expense. Please follow the steps below.

 

  1. Click the + New button.
  2. Choose the transaction (Bill, Expense, or Check) you want to create.
  3. Select the payee.
  4. From the Category column, select the expense account for the transaction.
  5. Enter the description and amount of the expense. Then, select the Billable checkbox.
  6. In the Customer column, choose the customer you want to bill for this expense.
  7. Fill in the other needed fields.
  8. Click Save and close.

 

After that, you can open this article to view additional details and how to finish the process: Enter billable expenses.

 

Lastly, you may refer to this article to see steps on how you can run a specific report that will reflect all payments made to vendors: Run a report with vendor totals.

 

Don't hesitate to click the Reply button below if you need further help with recording or managing your transactions. I'm always here to assist you. Have a nice day!

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