Reimbursable costs as income

[nbewtra]

I am using QB Pro 2006. As a government contractor we bill our clients for approved employee travel and telecommunication cost - both with a markup. I accrue the costs - write check or pay bill. I can see the expenses for the specific customer. However, when I create an invoice, the negative entry for expenses appears thus zeroing out the cost. In the income I only see the markup as income. I need to keep the cost in the expense section (it is required reporting) and these expenses as income. In the Company preference of Sales and Customer I have checked to track reimbursed expenses as income - still no change. Please help.

Secondary question, we have multiple enteries for travel and telecomm in a month. Client wants to see single total foe each of these. Can that be done?

Thanks to all.

[Joe Williams]

You need to go to preferances for Sales & Customers and on company tab check the box for "Track rembursed expenses as income:. Then edit each expense account used for employee travel and telecommunication cost and create a unique INCOME account. I use teh same name as the expense account and just add income to the name on the income account.

[nbewtra]

Joe, Thanks for the prompt reply.

I had already set the Preference as you had suggested. Is there no way to solve this without creating numerous income accounts? I would like these to appear as a single income entry in the P/L statement.

[lisa_mn]

Sure, just make one income account called "reimbursed expenses" and use that for all the items. When you set up the items, mark the "this service is performed by a subcontractor..." check box so you can enter the expense side as whatever expense and the revenue as reiumbursed expenses.

Then use these items when you incur expenses and bill them. The money will go where you want it to.