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T
Tom Elliott
February 18, 2020
Question

Process Advance/Expenses/Refund

  • February 18, 2020
  • 1 reply
  • 0 views

So in a nuthsell, we advanced an employee £1,000 for a big international trip, he only spent £200 and refunded us the unspent £800. However, how I process this through Quickbook has me really scratching my head - any ideas?

1 reply

A
Ashleigh1
February 18, 2020

Hello Tom, 

 

Thanks for reaching out to us ion the Community page, 

 

In real life how did you give the 1000 pounds to the employee for the big international trip? 

 

 

T
Tom ElliottAuthor
February 18, 2020

Online transfer from our bank account to his, and the refund vice versa

P
payment after leaving
February 18, 2020

Hi Tom

 

Create an expense New+ > expense > create the employee from the Payee field, ensure you select employee in the type field > enter all the relevant data > in the category field either create/add new a specific expense account or use a relevant default one.

For the refund create a bank deposit, New+ > Bank deposit > ensure you select the date and account that the money was received > in the 'Add funds to this deposit' and the employee in the received from field > in the account field enter the expense account you used in the initial expense |> enter the amount > No VAT > sane and close.

 

The above is based on the assumption that the amount was not processed through payroll/PAYE.

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