quickbooks for mac how to add billable expenses to an invoice

With the 2011 line up, it is now possible to see expenditures coded to Cost of Goods Sold type accounts in the TimeCost window when creating an invoice.

However, we have been in contact with an Intuit Product Development employee to document the bug we have found.

Set the Preference To check how the preference is set in your QuickBooks file, choose Edit from the top menu bar then Preferences.

In QuickBooks 2011 products, the Time and Expense preference is the last one, so you will need to scroll down to find it.

The Track reimbursed expenses as income check box is a Company Preference so you will need to be logged in as Admin and single user mode in order to make any change.

If applicable, you can set a default markup percentage as well as the default account that will be used for the markup on this same screen.

Assign the Income Account to be Used for Expense Type Accounts Choose Lists from the top menu bar and then Chart of Accounts.

Scroll down to an expense account that would be used for expenditures to be included on an invoice.

In single user mode, edit the account and place a check mark in the box to Track reimbursed expenses in Income Acct.

Note that the account does not have to be an Income type account, but that is usually what would be chosen.

Assign the Income Account to be Used for Cost of Goods Type Accounts The bug we have discovered is that the ability to designate the account to be used when the reimbursed expenses are invoiced is not available for the Cost of Goods Sold type accounts.

As a resource for this and other questions, submit a question via Ask the Expert or attend our free, monthly discussion forum tele-class.

Bonnie J. Nagayama, CPA (925-247-0100) has been featured by Intuit in their QuickBooks Advisor Spotlight and frequently teaches and consults on using QuickBooks to its maximum advantage.

Quickbooks For Mac How To Add Billable Expenses To An Invoice