Hi, Omkara.

Thank you for reaching out to us here on the Community page. I can share with you some insights about the billable expense feature in QuickBooks Online.

Enabling the feature allows you to record and track billable expenses so your customers can reimburse the amounts when they receive their invoices. However, this option is only available for QuickBooks Online Plus and Advanced. For Simple Start, you can manually record your income and expenses (invoices, sales receipts, check, expense, and others) and put them in the correct accounts.

You may set up clearing accounts to transfer your money from one account to another. Here's how to add or create an account from your Chart of Accounts.

For more hints about billable expenses, you can check out this link: Enter billable expenses in QuickBooks Online.

Just in case you want to upgrade to a higher version of QBO, you may open this article as your guide: Upgrade or downgrade your QuickBooks Online subscription.

Please let me know how else I can help you with tracking your expenses in QuickBooks. I'm more than happy to provide additional assistance. Keep safe!