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thrive_accounting
November 17, 2023
Question

Billable expenses

  • November 17, 2023
  • 1 reply
  • 0 views

In the past, my company has marked expenses that are billed back to our customers as "billable" and then added the billable expense charge to the invoice created for the customer. Due to some changes in systems, we are no longer adding billable expense charges to the invoices but rather manually entering in amounts owed to us. Can someone help explain to me:

 

1. Will this create any issues with duplicate expenses in the Profit & Loss statement?

2. What happens to the billable expense charges if they are not added to the invoice? Do we need to delete them?

3. Should we stop marking expenses as billable as we will not be adding individual billable expense charges to the invoices going forward?

1 reply

A
AnneMariee
November 17, 2023

Hello there, thrive_accounting.

 

I appreciate you for being detailed about your concern. I'm here to give you some answers to your questions.

 

First, manually entering amounts owed to the business will not create any issues with duplicates in the Profit and Loss report. Additionally, billable expenses will remain pending if you don't apply them to an invoice. You can uncheck the Billable column if you have no plans to link your expenses to your invoices moving forward. This way, they'll stop appearing on the right panel when invoicing a customer they're associated with.

 

Check this guide out to manage your billable expenses: Remove a billable expense charge in QuickBooks Online.

 

For future reference, click this link for more info about managing your money-out payments: Pay expenses and bills.

 

Please leave a reply if you have further concerns about billable expenses. I'm dedicated to helping you out. Stay safe, and have a great day!

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