However, most job costing reports require you to use the Items tab rather than the Expenses tab. If you checking the billable box it means you want to charge it the purchase to your client on a future invoice. The business owner uses one QuickBooks license to run reports, while the office manager uses a second license to enter sales reports and receipts, and the payroll clerk uses a third license to run payroll and print checks. In this scenario, since three users are using QuickBooks, a 3 User product will be best suited to your business’ needs.
I work for a company where we have 1099 contractors who do consulting work. These contractors send my company a monthly invoice and detailed spreadsheet showing any expenses incurred (travel, meals, etc.) for their contracting jobs. My work then has to pay the contractor and then also bill the firm who hired that contractor. My question is- how do I mark an expense as billable and reimbursable if the original expense is not incurred by my company? I need to take the specific expenses and somehow track them as reimbursable to the contractor as well as billable to the client/firm. Hi jessicaferro021!
You're on the right track - with using billable expense. Your company essentially is paying for those expenses - as you're righting the check to pay the 1099 contractors back. That's you're expense - logged in on the vendor bill. Then you can mark them billable to your firm to get reimbursed.
There is an area in your Company Settings that you can designate what account you'd like billable/reimbursed expenses to hit. Then when it's billed to the firms - you'll record receiving that money back.
That way you'll be able to track everything. Hope this helps!
In this QuickBooks Online tutorial you'll learn how to create an invoice for billable time and expenses along with: - Learn about the ui elements of an invoice when invoicing for time and/or expenses - Enter an Invoice using time and/or expenses - Save and Send the invoice to show how QuickBooks sends an invoice for time/expenses - Learn about the effects of an invoice for time/expenses Watch more Quickbooks Online step-by-step tutorials to learn all the QuickBooks tips and tricks: Start for free at QuickBooks.com. Check out more tutorials here: Subscribe for more QuickBooks! Run your whole business better with QuickBooks. Be sure to subscribe to our YouTube Channel and if you have any questions, feel free to leave a comment! Visit QuickBooks.com for the latest!
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