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mark265
Level 1

How do I bill reimbursable expenses. They were incurred on my company CC and will be billed and paid by a third party?

A) When the charge is downloaded from CC do what account do I charge it. B) When I invoice it to third party where do I charge it?
Solved
Best answer June 01, 2021

Best Answers
jamespaul
Moderator

How do I bill reimbursable expenses. They were incurred on my company CC and will be billed and paid by a third party?

Hello, Mark. 

 

I'd be happy to help you record the reimbursable expenses incurred on your company's credit card. 

 

You'll want to turn on the Billable Expenses feature first. Then, record the credit card expenses normally. Finally, bill it to the third party using an invoice.

 

To turn on Billable Expenses: 

 

  1. Go to the gear icon, then select Account and Settings.
  2. Click the Expenses tab.
  3. Expand the Bills and expenses section, then toggle Make expenses and items billable to On
  4. Toggle any other billable options you need. 
  5. Click Save then Done

 

billable1.PNG

 

Before anything else, you'll want to add a customer profile for them if you haven't done it already. 

 

Next, record the credit card expense:

 

  1. Click the + New icon then select Expenses.
  2. Ensure you've selected the credit card account under Bank account.
  3. Add the details of the purchase.
  4. Under Billable, check the box to mark it as billable then map their customer profile.
  5. Once done, click Save and close

 

billable2.PNG

 

Regarding the category, you'll want to select the expense account according to the purchases. I recommend consulting an accountant so you'll be guided on what account to use. 

 

To record the invoice, click the + New icon then select Invoice. Add their customer profile under Customer.

 

You'll be prompted to add the Billable Expense Charge transaction at the right panel. Add it to the invoice and enter any other important transaction details. Click Save and close afterwards. 

 

billabl3.PNG

 

After recording the invoice (and the payment), you'll want to pay the credit card charge

 

Regarding the downloaded charge, you'll simply want to match it to the downloaded credit card transaction. This article can help you with the process: Categorize and match online bank transactions in QuickBooks Online.

 

If you'd like to learn more about billable charges, you can check this article: Enter billable expenses

 

Ready to reconcile your credit card account in QuickBooks? Feel free to check out this article for a guide: Reconcile an account in QuickBooks Online.

 

Do you have any other questions about billable expenses? Please let me know and I'll guide you through another process. If you have any other questions about QuickBooks Online, add them to your post and I'll help you out. 

View solution in original post

1 Comment 1
jamespaul
Moderator

How do I bill reimbursable expenses. They were incurred on my company CC and will be billed and paid by a third party?

Hello, Mark. 

 

I'd be happy to help you record the reimbursable expenses incurred on your company's credit card. 

 

You'll want to turn on the Billable Expenses feature first. Then, record the credit card expenses normally. Finally, bill it to the third party using an invoice.

 

To turn on Billable Expenses: 

 

  1. Go to the gear icon, then select Account and Settings.
  2. Click the Expenses tab.
  3. Expand the Bills and expenses section, then toggle Make expenses and items billable to On
  4. Toggle any other billable options you need. 
  5. Click Save then Done

 

billable1.PNG

 

Before anything else, you'll want to add a customer profile for them if you haven't done it already. 

 

Next, record the credit card expense:

 

  1. Click the + New icon then select Expenses.
  2. Ensure you've selected the credit card account under Bank account.
  3. Add the details of the purchase.
  4. Under Billable, check the box to mark it as billable then map their customer profile.
  5. Once done, click Save and close

 

billable2.PNG

 

Regarding the category, you'll want to select the expense account according to the purchases. I recommend consulting an accountant so you'll be guided on what account to use. 

 

To record the invoice, click the + New icon then select Invoice. Add their customer profile under Customer.

 

You'll be prompted to add the Billable Expense Charge transaction at the right panel. Add it to the invoice and enter any other important transaction details. Click Save and close afterwards. 

 

billabl3.PNG

 

After recording the invoice (and the payment), you'll want to pay the credit card charge

 

Regarding the downloaded charge, you'll simply want to match it to the downloaded credit card transaction. This article can help you with the process: Categorize and match online bank transactions in QuickBooks Online.

 

If you'd like to learn more about billable charges, you can check this article: Enter billable expenses

 

Ready to reconcile your credit card account in QuickBooks? Feel free to check out this article for a guide: Reconcile an account in QuickBooks Online.

 

Do you have any other questions about billable expenses? Please let me know and I'll guide you through another process. If you have any other questions about QuickBooks Online, add them to your post and I'll help you out. 

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