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dishllc
June 10, 2022
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Billable expense tracking (for multiple accounts): I want to assign an income account to expense account, but the option "Use for billable expenses" is not there. Ideas?

  • June 10, 2022
  • 1 reply
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The "edit account" dialog seems to have changed recently into a fly-out on the right side. Is it possible this option wasn't implemented in the redesign?
Best answer by Kurt_M

Thanks for your reply... I do already know how to use "Track billable expenses and items as income"... I've been using that for a while, but with a single account.

 

I posted this question because, when I changed my setting from "Single Account" to "Multiple Accounts", I can't find the way to set accounts as billable expense accounts.

 

In your explanation, you noted that "the account specified in the Account information page for Lumber is increased by $200" ... this is the problem... when I edit an account, there is no setting on the expense account information page to choose a corresponding income account.

 

Here's what the billable settings page says (see the tooltip)...

 

 

And here's what my edit account dialog looks like...

 

Am I looking in the wrong place for the "Use for billable expenses" option?


Hi there, @dishllc. I'd be happy to share some details about your concern and help you utilize the "Use for billable expenses" checkbox in your QuickBooks Online (QBO).

 

One possible reason you can't see the checkbox for Use for billable expenses when creating a new expense account in your Chart of Accounts is that you're currently in an Accountant view. In QuickBooks, you can view your company in two ways, the Accountant view for your accountant and the Business view for the owner. You'll want to switch to Business View to see the changes you've made in your company settings. Here's how:

 

  1. Access your QuickBooks Online company.
  2. Go to the Gear icon.
  3. Below the Profile column, click the Switch to Business view hyperlink.

 

You'll then want to create a new expense account in your COA, refer to this article for further guidelines: Add an account to your chart of accounts in QuickBooks Online.

 

You can refer on the screenshot below to see the changes after you've switched to Business view.

 

 

In addition, I've got you this article in case you'd like to manually add transactions to your account registers in QBO: Manually add transactions to account registers in QuickBooks Online.

 

I'll be here in the Community if you have any additional QuickBooks-related concerns. It's my pleasure to have you here, @dishllc. Thanks for choosing QuickBooks. Take care, and have a nice day!

1 reply

MariaSoledadG
MariaSoledadG
June 10, 2022

Let's make sure you'll be able to use the billable expense feature, dishllc.

 

In QuickBooks Online (QBO), you'll have to turn on the feature so you'll be able to see the option and be able to easily record and track billable expenses for your customer.

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

 

Once done, you'll now have the option to assign an income account to your expense account. To give you the correct workflow on how billable expense works in QBO, go through this article for your guide: Enter Billable Expenses. 

 

Moreover, if you're trying to edit your accounts in your chart of accounts, you can check out the details in this article: Create Subaccounts In Your Chart of Accounts In QuickBooks Online. However, if you want to edit the categories directly to your expense transaction, go through this tutorial for your guide: Edit Your Chart Of Accounts. 

 

Reach out to us if you have any questions about the billable expense feature. Remember the Community is always right here to help you 24/7.

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dishllcAuthor
June 13, 2022

I had already done the steps you described.  My question is about 5b — Billable Expense Tracking. That option states that when it's enabled, a field will appear on the account edit dialog so I can pick an income account to associate with the expense account. However, there is no new field in my account edit dialog.

Candice C
Candice C
June 13, 2022

Good morning, @dishllc. 

 

I appreciate you hopping back in. I can provide you with some additional information to help you figure out this issue. 

 

The "Track billable expenses and items as income" feature/field allows you to use one or more income accounts to track billable expenses. Here's some examples: 

 

On the Check page, you enter a payment for $200 worth of lumber, using an expense account called Lumber, and make it billable to one of your customers. Then you include that billable expense on the invoice to that customer.

 

What happens?

In the check transaction, QuickBooks decreases your checking account by $200 and increases the Lumber account by $200.

In the invoice transaction, QuickBooks increases your accounts receivable account by $200. It's also affected by the income account setting you choose:

 

  • If you choose In a single account, the account specified in the setting Gear> Chart of accounts > Billable expense income account is increased by $200.
  • If you choose In multiple accounts, the account specified in the Account information page for Lumber is increased by $200. For example, you might specify an income account called Reimburse: Lumber.

 

Note: Be sure to check out this related setting: Advanced > Chart of accounts > Billable expenses income account.

 

I'm hoping this helps you out. If not, come back so we can dig further into this issue. Have a  wonderful day! 

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