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KB333
Level 1

Billable Expenses

I have a client who uses billable expenses and they are running on QuickBooks Pro 2020. When they invoice they don't want to show the customer the markup but want  the markup taxable and get reported in the Income account. They want their customer to see the description of each billable expense on separate lines but have the markup included in the line item instead as a lump sum at the end showing the percent they are charging to the customer. Is this possible?

3 Comments
ReyJohn_D
QuickBooks Team

Billable Expenses

I've got a couple of steps and info to share to handle these billable expenses in QuickBooks Desktop, @KB333.

 

Yes, you can hide the markup amount, make it taxable, and get it posted to the income account. However, once you print the invoice, their customers can only view the total amount (billable expense + markup) with its description.

Also, you'll still see the description of each billable expenses with the markup value on your invoices. Let me show you how:

 

  1.  Go to the Customers menu at the top, and then choose Create Invoices.
  2. Select the customer that you entered on the bill.
  3. On the Billable Time/Costs pop-up window, tick the Select the outstanding billable time and costs to add to this invoice radio button.
  4. Go to the Expenses tab, and then pick the right expense, markup amount, and Income account.
  5. Check the Selected expenses are taxable box to make the billable expenses taxable and then tap the Print selected time and costs as one invoice item to hide the markup value.
  6. Click OK.

    D49.PNG
  7. Tap Preview in the Print drop-down to see the total invoice amount (billable expense + markup value), and then hit Save & Close.

    D50.PNG

To personalize your invoices and get the info you need, you can customize them. Please read through this resource for further insights: Use and Customize form templates.

 

I'll be around to help if you have more QuickBooks questions. Have a good one.

KB333
Level 1

Billable Expenses

So it won't do it as individual lines only as a bulk item? They need to have individual line items

Jen_D
Moderator

Billable Expenses

Thanks for getting back to us, @KB333,

 

I can share some more insights about this preference in QuickBooks. When you use the Markup option in the Expenses tab, it will always create a bulk amount for all the expense categories assigned to the bill.

 

However, if you wish to assign a markup for every line item, there is definitely an option for that. All you need to do is set up an Other Charge item for the markup and assign the income account where you want to post it. To do that:

 

  1. Go to the Lists menu and choose Item List.
  2. Right-click anywhere then pick New.
  3. For the Type, use Other Charge.
  4. Enter all necessary information including the Account.
  5. Once done, hit OK.

When you create a bill, add this item every after each inventory or category. Then, when you print them, use the steps provided by ReyJohn_D to hide them. See this:

 

I've added a few resources below to guide you further with the steps:

 

Let me know if you have other questions about this topic, so I can check on them for you. I'm also here if you need anything that's QuickBooks related. Have a lovely rest of the week!

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