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  #1  
Old 10-22-2005, 10:17 PM
LoriFS LoriFS is offline
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How to enter reimbursable T&E

Hi - I am just setting up my quickbooks application for a consulting company.

I have been screwing around all night trying to figure out how to track and record travel and expense reports for each employee. This is how we actually bill our customers - record time and all expenses incurred for each employee. The client is then billed total hours * rate plus expenses. I can see where to enter the time (weekly time tracker) but cannot figure out where or how to log the expenses.

Any help would be greatly appreciated. There must be a simple way - maybe I'm just overlooking it

Thanks!

Lori
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  #2  
Old 10-23-2005, 10:54 AM
Joey Joey is offline
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Set up a new Vendor name John Smith (v) for each employee. If you add the (V) it will make it different from the Employee name. "Use the Print on Check As" area to correct the spelling on the actual check payee area.
Enter each expense report just like a bill using Enter Bills and splitting the expenses by assigning them to the Customers. Then you can pay them using Pay Bills just like any other bill. These are not subject to 1099 reporting because they are only reimbursement checks.
Expense reimbursements should not go through payroll.
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  #3  
Old 10-23-2005, 02:54 PM
LoriFS LoriFS is offline
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Another question

Quote:
Originally posted by Joey
Set up a new Vendor name John Smith (v) for each employee. If you add the (V) it will make it different from the Employee name. "Use the Print on Check As" area to correct the spelling on the actual check payee area.
Enter each expense report just like a bill using Enter Bills and splitting the expenses by assigning them to the Customers. Then you can pay them using Pay Bills just like any other bill. These are not subject to 1099 reporting because they are only reimbursement checks.
Expense reimbursements should not go through payroll.
Thanks Joey for your help! Just wondering then if we include these expenses when we do our payroll do I actually have to write two checks? I know you said they are not included in payroll and that makes sense but we usually just cut 1 check for salary plus reimbursed expenses.
Also, do you have to make the employee - vendor name different "(V)"? What does the (V) stand for? Because these are just reimbursed expenses where do they show up for tax purposes?

Thanks again. Lori

Last edited by LoriFS; 10-23-2005 at 03:28 PM.
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  #4  
Old 08-13-2007, 03:04 PM
Bailey33 Bailey33 is offline
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Does anyone have any answer to this question? This is exactly what I am trying to do, without creating two checks for each employee that has reimbursements!
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  #5  
Old 08-13-2007, 07:00 PM
LoriFS LoriFS is offline
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Hi Bailey,

Well it's been awhile but I have set up quickbooks and everything is working great - I'm sure there can be improvements but so far so good.

To get to your question - when you enter the time in the weekly timesheets that doesn't hit your books anywhere until you actually create the invoice to the client. At least that is how I do it.

For payroll, we use a third party payroll provider so I simply enter the entire payroll as 1 bill. If you are cutting checks for each employee then create a "bill" for each employee. Record the total salary, taxes, expenses, etc. I set up classes for each employee so that we can track income/expense by consultant. So I also assign the appropriate class to each line item. To get the reimburseable expenses to the client you will also need to tag the expenses to that client. Once your "bill" is created then you can simply go "pay bills" - one check per employee that has both expenses and salary.

When you actually go in to create an invoice this is where you will pick up the hours from each employee and then the expenses will show up that you flagged on your employee payroll "bill".

I spent hours testing, testing, testing, - never had any formal training but it's working like a charm .... for now anyway

I hope this helps - I can give you a call if you would like.

thanks,
Lori
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  #6  
Old 08-14-2007, 04:49 AM
Joe Williams Joe Williams is offline
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You can also create a Credit Card account named "Employee Expenses" and use Enter Credit Card charges account" and select the Employee in the Purchased From field. Create a payroll item of type Addition with the Tax tracking of none and set the Liability account to the Credit Card account.
The Credit Card Charges are entered with the Customer's name and then the paycheck can remburse the employee for their expenses.
As always, check it out in a sample company.
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Old 08-14-2007, 09:45 AM
Bailey33 Bailey33 is offline
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Lori & Joe,
Thanks for your thoughts on how I can do this. Let me take a little time to work with both ways and see what I come up with. If I get caught up again I will let you both know. I think I understand what you are saying, but want to test it before I know for sure. Again thank you for your help and have a terrific day!
Bailey
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