Clients send us money each month to cover travel expenses. How can we track the amount received and the travel expenses deducted from this amount throughout the month?

Hi there, kilpopmedia.

I'd like to help point you in the right direction so you're able to track travel expenses and deductions.

In this instance, I recommend setting up a separate "Travel Funds" account. Here's how to add a new account:

1. Hover over the Accounting tab in the left navigation panel, then click Chart of Accounts.

2. Select the green New button in the top right corner.

3. Choose Other Current Assets under Account Type.

4. Enter the Detail Type, and the Name.

5. Click OK when you're finished.

Once you have this account created, you could make a recurring Sales Receipt for when your client sends you travel expense funds. Here's how:

1. Click the +New button in the top left corner.

2. Select Sales Receipt.

3. Choose Make Recurring at the bottom of the page.

4. Enter all of the necessary info.

5. Make sure to select your new Travel account in the Deposit to section.

6. Select Save template.

I've got a couple articles for you that offer even more details:

• Create an account on your chart of accounts in QuickBooks Online

• Set up a recurring sales receipt

It's always a good idea to talk about setting up these types of accounts with your accountant just to sure this would be a good fit for your business model. Please let me know if you have any other questions.

Thanks for providing us with an update, @kilpopmedia.

Setting up sub-accounts under the Travel Funds account would allow you to separate each client's travel income, so if you'd like that specific information on reports, you can definitely do it that way. You've got some good ideas, there!

For information on setting up sub-accounts in your Chart of Accounts, check out: Create subaccounts in your chart of accounts in QuickBooks Online

Please touch base with us here if there's anything else you need, I'm determined to ensure your success. Wishing you and your business continued success in all that you do.