How to Set Up Reimbursable Expenses in QuickBooks

QuickBooks allows you to manage your financial data using a range of business tools. You can track your reimbursable expenses in QuickBooks so that you can quickly create expense reports for your employer. Some of your business expenses may be tax deductible and kept in a separate category. Set up a unique category in your Expense Category list or use one of the existing list options to track your finances. Setting up your own category is beneficial when most of your expenses fall into one area. If you have a wide range of expense types, use the preset options and create a separate QuickBooks account for non-reimbursable expenses.

Instructions

    • 1

      Open your QuickBooks software.

    • 2

      Click "Cash" or "Credit" next to "Record Expenses" in the "Money Out" menu. This menu is located in the shortcut panel on the left side of the home screen. You will need to add a valid credit card account to your profile in order to add credit card expenses. Once you click "Credit," follow the prompts to enter your credit card account number and a nickname for the account. An account registry will appear.

    • 3

      Enter the date of each of your reimbursable expenses in the registry, then select a payee. A payee is a creditor or merchant. You must create a profile for each payee before they can be entered into your registry.

    • 4

      Select an "Expense Category" from the provided drop-down menu. Automobile expenses, printing, association dues and other work-related categories are included in this list. If you do not see your list, or need to create your own category, select "Add New" at the top of the drop-down menu.

    • 5

      Add the "Account Name" and choose a "Tax-line Mapping" category. Select "Unassigned," since these expenses will be reimbursed by your employer. You cannot deduct expenses on your taxes that are reimbursed. Click "Save & Close."

    • 6

      Enter the amount of the business expense in the "Decrease" column. Click "Record." Once you receive payment from your employer for the amount of the expense, enter the reimbursement by clicking "New" next to "Deposits" in the "Money In" shortcut menu.

    • 7

      Select the bank account where you will make your deposit and enter the deposit amount in the registry. Be sure to add the date and the expense category you selected or created in Step Four. Add the amount of the reimbursement in the "Increase column." Click "Record" to save your entry.

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