If you’d like to double check to ensure you’ve entered everything correctly (never a bad idea!) you can head to your Reports tab and open the Account Transactions report then, from the account drop-down select the Reimbursed Expense account.In the new window, enter the description, account (Cash on Hand), amount ($100 as a Withdrawal), the category (Refund for Income > Reimbursed Expenses – try the search to find it faster). This initial expense was $100, which you paid in cash. Let’s take a look at Travel Expenses on the invoice in the above example. Add any other products, your customer’s details, and any additional information you need to include.Ĭorrectly record the initial expense you are being reimbursed for: Finish creating your invoice as normal.You can include the specific details of your reimbursable expense in the product description.
Your current client is far from web-savvy and has no existing website or domain name. Sound confusing Think of it this way: Imagine you work as a freelance web designer. Billable expense income is the money paid by a client to cover expenses incurred on their behalf. I tested this and found it to be confusing. When such a purchase is made, it’s called a billable expense. When you add the reimbursable expense line, be sure to click Edit Income Account, and select the Reimbursable Expenses account we created in Step 2. Related setting: Advanced > Chart of accounts > Billable expenses income account. On your invoice, the reimbursable expense you’re recording will be a product line item, just as any product or service you would add. Click on the Other Income account that you see, and then enter the account name as Reimbursed Expense click Save to finalize the creation of your account. In the pop-up window, select the drop-down for Account type, and in the search box, enter ‘Other Income’.Once the Chart of Accounts page is up, click Add a New Account. On the left-hand navigation menu, click Accounting, then Chart of Accounts. Create an account for your reimbursements.To record a reimbursable expense in Wave, follow these steps: When you bill your client, include these costs on the invoice so that they can reimburse you. Travel expenses and special materials or supplies are examples of common reimbursable expenses. A reimbursable expense is a cost you incur on behalf of a customer.
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