We are needing help in entering accurately the disbursement Quickbooks online
We are receiving invoices from our vendor (unfortunately, the invoice named under our client as it is auto generated in their system). Now, we are paying these invoices in behalf of our client. Once the job is done. We are invoicing the client - the amount that we paid to our vendor and we add on our service fees/charges. Technically speaking our only income is the service fees, as the rest are just reimbursement.
We do not want it to reflect as income. We do not want to reflect it as expenses as well.
We have tried the expense and billable to customer. It did not reflect as our sales but it reflect as expenses.
May we know how to entry it right, please..
I'm here to guide you on recording a disbursement for the expenses paid on behalf of your clients.
You can make a retainer deposit to track the cash you’ve received from your client. Then you can record the money you spend in which your clients reimbursed you as a reimbursable expense transaction.
Once done, you can now add or link the billable expenses to an invoice. To start with, I recommend going to the Sales page and locating the existing entry. Please follow the steps below.
As always, feel free to visit our QuickBooks Community help website if you need tips and related articles in the future.
Please touch base with me here for all of your QuickBooks needs, I'm always happy to help. Have a good one.
We have tried to click the Bill:
We only see: Category, Description, Amount, Billable, customer
We fill the necessary information.
Once we invoice, we were able to add the amount to the invoice.
However, our main problem is that, we do not want it to show in the report as expense.
We want it to go to "Other Current Asset" or "Disbursement" (not income/not as expense as well)
Welcome back, Janda1.
I'll share additional information about recording the disbursement you paid on behalf of your client.
You'll need to set up an Other Current Assets account. Then, you can create services items and link them to that account so they won't appear under income or expenses. I'll show you how.
Create Other Current Assets:
Create services item:
After that, you can use the service item associated with the Other Current Assets to all your bill or invoices. Also, I suggest reaching out to your accountant. They might have other ways to do it.
Additionally, you can personalize the information displayed on your report. Check out this article for more insights: Customise reports in QuickBooks Online.
Please let me know if you have follow-up questions about recording disbursement. I'll be here to help you.