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Join nowOur partner company made some business expenses on our behalf.
They sent us a global invoice where they included the amounts (by vendor), together with the reimbursement request. We have received, as well, detailed invoices they got from each of their vendors for these business expenses. These invoices don't mention our company name but only theirs.
Do I need to make a separate entry for each of their vendors ? Or it's only necessary to record the whole amount of our partner's business expenses ? The important point is that these are also our vendors, we work with them as well. They also reimbursed one of their employees for the expenses made on our behalf.
I am thinking about making a following entry for each of these vendors / employee - before the reimbursement :
Liability account (our partner company) - credit
Expense account (their vendor / employee) - debit
Maybe it's not necessary ? Many thanks in advance for your prompt replies.
Solved! Go to Solution.
Hello there, @AnneN.
We can enter a Bill/Expense for each vendor paid by the partner company. Then, create an account that will stand as the partner company. This way, the payments of each Bill/Expense can be recorded to the account.
When the company pays the partner company, you can write a check or expense using the partner company account.
To create a bill/expense:
You can check this link to create an account for the partner company: Add an account to your chart of accounts.
I've also added this article about creating a check in QBO: Create and record checks.
Please know that I'm always here if you need anything else. Have a great day!
Hello there, @AnneN.
We can enter a Bill/Expense for each vendor paid by the partner company. Then, create an account that will stand as the partner company. This way, the payments of each Bill/Expense can be recorded to the account.
When the company pays the partner company, you can write a check or expense using the partner company account.
To create a bill/expense:
You can check this link to create an account for the partner company: Add an account to your chart of accounts.
I've also added this article about creating a check in QBO: Create and record checks.
Please know that I'm always here if you need anything else. Have a great day!
Hi, @AnneN.
Hope you’re doing great. I wanted to see how everything is going about recording the business expense you had the other day. Was it resolved? Do you need any additional help or clarification? If you do, just let me know. I’d be happy to help you at any time.
Looking forward to your reply. Have a pleasant day ahead!
Hi, @Maybelle,
I hope you are doing well and thanks for your replies. I marked this as solved.
Have a good day.
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