Expense Report Payments

Jeff76

I'm curious how other Q users that work and travel handle expense report payments they receive from their employer. Do you record the payment as income or do record the payment as a "positive" counter expense?

Jim_Harman

When I was working I recorded work travel expenses with a special expense Category and travel reimbursements as credits to that Category.

NotACPA

I have an asset account called "Receivables". Appropriate expenses, and their reimbursements, are booked using that account as the "category" (i.e. transfer) for transactions.

jacobs

Similar to those above, I had an account I called "Exchange". when I had a business travel expense, I recorded the purchase in my credit card account as a transfer to the Exchange account. Then when I got reimbursed, I recorded the deposit in my checking account as a transfer to the Exchange account. The two zero out, leaving a balance of zero in the Exchange account. Since expenses and reimbursements could be combined and occur at different times, I would reconcile the Exchange account to mark as reconciled the expenses and reimbursements which offset each other.

Doing it with an Account — whether you call it Receivables, Exchange, Work Reimbursements, or whatever — rather than a Category means that your purchases never show as expenses and your reimbursements never show as income; they are transfers, so they don't mess up your tracking of your personal income and expenses.

UKR

Users of Quicken Classic Business & Personal for Windows should also think about using this feature:

How do I identify and charge reimbursable expenses? (quicken.com)

A similar feature is available in Quicken Classic for Mac Business & Personal, too.
See Business & Personal (quicken.com) and look for Billable Expenses.

jacobs

Users of Quicken Classic Business & Personal for Windows should also think about using this feature: How do I identify and charge reimbursable expenses? (quicken.com)

@UKR Yes, I didn't go off in that direction because the question above was asked about tracking expenses for and reimbursements from an employer; Business & Personal is suited for when a user is running their own business and needs to track expenses for and payments from clients.

UKR

https://community.quicken.com/discussion/comment/20497069#Comment_20497069

That's correct. But, it can also be used for employee-related travel expenses … I did that years ago, before retiring.
Of course, if you need to file a corporate travel expense report on the company's form, you're still doing the filing by hand … oh, how much fun that was … 😏

NotACPA

I was recently appointed to the National Board of a non-profit … so while attending to my acquired regional responsibilities, and my national responsibilities, I've actually got 2 expense reports that I need to file.

One for national expenses (essentially limitless, but specific) and one for regional expenses. I use tags to differentiate between the 2 expense accounts.