Reimbursements

BrianJ
BrianJ Member
edited March 2 in Reports (Windows)
How do i exclude reimbursements, credit and expense from reports. i have them categorized as business expense and business income. These show up and inflate my yearly income and expense totals

Comments

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    One way is to treat a reimbursement as a negative expense. Instead of using an income category, use the same category as you used for the original expense. 


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  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    I suggest you customize the report to exclude the transactions with the specific categories: open the report, press Alt + C, select the Categories tab, choose Include only transactions with selected categories, uncheck the categories you want to exclude, and select OK.
  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    edited January 31
    Hi @BrianJ

    It is all about how you make the entries related to these expenses and the reimbursements that you receive.  There are two routes that you can take, as follows:

    One way is to set up a category in the "expense" section (i.e. either a "Personal Expense" category, or if you have the H, B and RP version in the "Business Expense" section).  You post all the expense items that you incur as you pay for them in one of these categories.  Then, when you receive the reimbursements, you also post those in this same category.  Hopefully, if you "timely record" both of these types of transactions (and if your company also promptly reimburses you timely for the expenses) the category "balance" should be zero, or close to zero, for most of the time.

    The other route would be to set up a manual "account" in the "Other Assets and Liabilities" section Quicken (this would be what is commonly referred to as a balance sheet account).  Similar to the above, you would again post all the expense items that you incur as you pay for them in this account, and also post the reimbursement payments you receive in this same account.  If you take this route, you would not need to worry about the timing issue mentioned above if your reimbursements are received much later than you incurred the expenses, because it won't affect either your income or expenses.

    Personally, I'd suggest that you use the second option.

    Let me know if you have any questions or followups.

    Frankx

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  • BrianJ
    BrianJ Member
    Thank you all.
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