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Expense Tracking in QuickBooks

Many businesses incur expenses when providing services for their customers and they want to bill their customers for these expenses.  For example, a lawyer may bill their client for courtroom time.  When the lawyer drives to the courthouse, they may have to pay a toll.  The lawyer will pay for that toll out of pocket and then include that toll on the invoice to the client at the end of the engagement.  Many people wonder how to handle this in QuickBooks.

Well, it’s actually quite simple.  What you need to do is to first enter in the expense as you normally would on either a check, credit card charge or a bill. When you choose the expense account (in this case – Automobile:Gas, Tolls & Mileage) you also want to enter in the Customer Name in the  Customer:Job column and then check the box that says “Billable.”  Save & Close the transaction.

When it comes time to create the customers Invoice, open up the invoice screen and enter in the customer name like normal. You will get a pop up that states that this customer has outstanding billable time and/or costs. At this point, you want to choose the option to ‘Select the outstanding billable time and costs to add to this invoice’ and click ok.

In the next screen, click on the Expenses tab and you will see a listing of all the unbilled billable expenses for that customer.  Put a check mark next to the ones that you want to include on this invoice.  Note that you can add a Markup to the expense by entering in a dollar amount or percentage in the ‘Markup Amount or %’ box. Once you have selected the lines that you want to bill for, choose ok.

 Once back in your invoice screen, you will see the amount of your expense has been added into the invoice for the customer. 

Now, for those of you who are always on the go, you may want to take a look at Concur. Concur is a software that integrates into QuickBooks and among its many nice features, one of the coolest is its on-the-go tracking through your smartphone!  While you’re traveling, Concur’s mobile travel & expense app helps you keep all your ducks in a row. Concur can help you do everything from change a flight to hailing and paying for a taxi. You can even snap photos of receipts, attach the images to your expenses, and toss away those bulky receipts.  For more information, please check out this link:

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