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M
maron
March 30, 2022
Question

where to put sponsored expense?

  • March 30, 2022
  • 1 reply
  • 0 views

Hi all,

We're a not-for-profit, and a kind donor foots the bill of the petrol for our vehicles.
Our employees use a petrol app, which is billed directly to the donors company.
We never pay for the petrol.
But, I would still like to track this expense.
Currently, each time an employee fills up, we receive a copy of the transaction receipt, which is then forwarded in to QBO (via DEXT).

Now, all the receipts are sitting in AP and are building up, as they never get "paid" by us, because the are being billed directly to the donor.

How do I keep track of this, and how should i be getting these bills out of AP?

Thanks

1 reply

A
Archie_B
March 30, 2022

Good day, maron.

 

Let me share an idea on how you can track billable expense in QuickBooks Online.

 

We can turn on billable expense to track sponsored expense. 

 

To turn on:

 

  1. Go to Gear ⚙ icon at the top right. 
  2. Select Account and settings.
  3. Go to the Expenses tab.
  4. In the Bills and expenses section, select Edit ✎.
  5. Turn on the following:
    • Show Items table on expense and purchase forms
    • Track expenses and items by customer.
    • Make expenses and items billable.
  6. (Optional) Set up the following:
    • Markup rate
    • Billable expense tracking
  7. Bill payment terms.
  8. Click on Save.

 

To enter and add billable expense to invoices, check out this article for the detailed steps: Enter billable expenses.

 

I've also added this link for your future reference: Enter and manage expenses in QuickBooks Online.

 

Please reach us back for any follow-up questions about expense. I'd be glad to help. Take care and have a good day!

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