QuickBooks is a popular accounting software used by businesses of all sizes. When an employee is paid in QuickBooks, it can be difficult to figure out how to reimburse them. This article will walk you through the steps necessary to reimburse an employee in QuickBooks.
How Reimbursed Expenses Work in QuickBooks Online
[ytvideo]How to set up reimbursement in QuickBooks
Reimbursement in QuickBooks is a great way to keep track of expenses and reimburse employees for their work. Here are a few tips to set up reimbursement in QuickBooks:
1. First, create a reimbursable account in QuickBooks. This is an account that employees can use to receive reimbursements for their expenses. You can set up a reimbursable account in QuickBooks by opening the Accounts menu and selecting the Reimbursable account option.
2. Next, add expenses to the reimbursable account. This is where employees can input the expenses they incurred while working in your company. You can add expenses by opening the Accounts menu and selecting the Add expense option.
3. Next, add employees to the reimbursable account. This is where you will add employees who will be receive reimbursements for their expenses. You can add employees by opening the Employees menu and selecting the Add employee option.
4. Finally, set the reimbursement amount for employees. This is where you will set the amount of money employees will receive for their expenses. You can set the reimbursement amount by opening the Accounts menu and selecting the Set reimbursement amount option.
Now, employees will be able to receive reimbursements for their expenses in QuickBooks. Thanks for setting up reimbursement in QuickBooks!
How to track employee expenses in QuickBooks
Assuming you want to reimburse your employee for expenses incurred while working, the first step is to set up an expense account in QuickBooks. (If you’re already tracking expenses in QuickBooks, you can skip to the next step.)
To set up an expense account in QuickBooks, open the account menu, and then click “New Account.” In the “New Account” dialog box, enter a name for the account, and then click “Next.”
In the “New Account” dialog box, click the “Expense Accounts” tab, and then click “New Expense Account.” In the “New Expense Account” dialog box, enter a description of the expense account, and then click “Next.”
In the “New Expense Account” dialog box, click the “Enter Bills” tab, and then enter the appropriate bills for the expense account. (The bills you enter in this dialog box will appear in the “Bills” tab in the “Bills Payable” section of your QuickBooks account.)
In the “Bills” tab in the “Bills Payable” section of your QuickBooks account, click the “Reimburse” button, and then enter the expenses you want to reimburse your employee. (The expenses you enter in this dialog box
How to create an expense report in QuickBooks
Creating an expense report in QuickBooks is a simple process. The first step is to select the items you want to expense. Next, click the “Expense” button on the Home tab, and then select “Report Expenses.” The “Report Expenses” window will open. In the “Report Type” field, select “ expense report.” In the “Category” field, select the category in which you want to expense the items. In the “Amount” field, type the amount of the expense. In the “Description” field, type a description of the expense. In the “Recurring” field, select “Yes.” In the “Category Group” field, select the category group in which you want to expense the items. Click the “Enter Bills” button. The bills will be automatically generated and entered into the “Bills” field. Click the “Save and Close” button. The expense report will be saved and you will be returned to the “Report Expenses” window. Click the “Print” button to print the expense report.
How to submit expenses for reimbursement in QuickBooks
- In QuickBooks, open the company file.
- In the company file, click Expenses.
- In the Expenses panel, click Reimbursement Settings.
- In the Reimbursement Settings panel, under Expenses Type, select Reimbursement from the list.
- In the Reimbursement Settings panel, under Expenses Source, select the type of expense you want to pay for.
- In the Reimbursement Settings panel, under Expenses To, select the person or entity you want to reimburse.
- In the Reimbursement Settings panel, under Expenses Amount, enter the amount you want to reimburse.
- In the Reimbursement Settings panel, under Reimbursement Date, enter the date you want to reimburse the expense.
- Click OK.
10. In the Reimbursement Summary panel, under Expenses Paid, click the Expenses Paid icon to open the Expenses Paid dialog box.
11. In the Expenses Paid dialog box, under Paid To, select the person or entity you want to reimburse.
12. In the Expenses Paid dialog box, under Paid Amount, enter the amount you want to reimburse.
13. Click OK.
14. In the Reimbursement Summary panel, under Reimbursements Applied, click the Reimbursement Applied icon to open the Reimburse
How to get reimbursed for expenses in QuickBooks
Getting reimbursed for expenses in QuickBooks can be a bit of a challenge, but there are a few steps you can take to make the process as smooth as possible.
1. Create an expense report. This will help you document all of the expenses you incurred during the month and make sure you have the proper documentation to support your reimbursement requests.
2. Create an invoice. This will serve as your official request for reimbursement from your client or employer. Make sure to include all of the relevant information, such as the date, the amount you were paid, and the corresponding invoice number.
3. Track expenses. If you’re requesting reimbursement for specific expenses, be sure to keep track of where the funds were spent so you can provide the proper documentation. This meanskeeping a notebook or electronic record of all your expenses, as well as receipts for any paid expenses.
4. Request reimbursement. Once you have gathered all of the necessary documentation, you can submit your reimbursement requests directly to your client or employer. Make sure to include a copy of your invoice and expense report, as well as any other supporting documentation.
Conclusion
When an employee leaves your business, it’s important to make sure you have a plan in place to reimburse them. QuickBooks can help you do just that. Here are a few tips to make reimbursements a smooth process:
