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December 30, 2023
Question

Accountable Plan

  • December 30, 2023
  • 1 reply
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How do I record on quickbooks my accountable plan reimbursements?

1 reply

JaeAnnC
December 30, 2023

Thanks for reaching out to us, @Altisca. I'll be happy to provide ways how to record accounting plan reimbursements in QuickBooks Online (QBO).

 

If your employees have used their personal funds to pay a business expense, you can either pay them now or record the expenses and pay them later. 

 

Here's how to pay your employee:

 

  1. Go to + New and select Check or Expense.
  2. Select the name of your employee in the Payee dropdown.
  3. In the Category dropdown, choose a liability account. If you don't have one yet, add a new account.
  4. Enter other necessary information.
  5. Click Save and Close.

 

You may also record the expense for future payments. I'll share this reference as your guide: Reimburse an employee in QuickBooks Online.

 

If you're subscribed to QBO Advanced, you can set up an account for your employees so they can submit their expenses on a mobile device or computer for tracking or reimbursement. Here's an article for more details: Set up employee expense management in QuickBooks Online Advanced.

 

Furthermore, you can check the status of your employee reimbursements by running reports in QBO.

 

Please don't hesitate to visit us again whenever you have clarifications about recording accounting plan reimbursements. I'll be more than glad to chime in back to this thread to answer your queries. Have a great day ahead.