Easily Identify Expenses!
Reimbursable, Non-Reimbursable, Billable
Identifying expenses can seem as intimidating as lions and tigers and bears, oh my! But it really isn’t!
Here's a quick recap of the different types of expenses:
- Reimbursable expenses are expenses that were paid with personal money, either cash or credit card, that the company will pay back to the purchaser or person submitting the expense.
- Non-Reimbursable expenses are expenses that were paid with company money, typically a business credit card. These are expenses that the company only needs to track.
- Billable expenses refer to expenses that are incurred that need to be re-billed to a specific client or vendor. These expenses can also be reimbursable or non-reimbursable.
- Expenses paid with a company card that needs to be billed to a client will be a and expense.
- Expenses paid with a personal credit card that the company will reimburse and that needs to be billed to a client will be a and expense.
First, notice the report total in the upper right of the report when it’s open to view. This total includes all types of expenses. Below the report total is the breakdown of expense types when there are multiple expense types.
To easily recognize the reimbursable status as well as if there are billable expenses, click on the setting cog on the left to adjust the layout. When “None” is selected the report will be organized according to the selection under “Layout” and “Group by”. These selections are sticky and will remain until the options are updated. The default for the report view is grouped by category.
In the screenshot below, notice what happens when you select to filter by Reimbursable or Billable rather than none.
Reimbursable expenses are the most common and expected type of expense, when a report only contains reimbursable expenses, you’ll notice that report breakdown is not shown, the whole total is Reimbursable.
If the report includes a negative expense, keep in mind that will offset the report, and be recognized as the opposite of an expense. As an example, compare the two reports shown below. The first one has an expense which is listed as a returned book. This original purchase was listed as reimbursable, so the return was also created as reimbursable. The second one does not include the returned book fee of $-50.00. You’ll notice the report total, as well as the reimbursable amount, are both affected by this transaction.
Your ability to adjust expenses will depend on the role you play; if they’re your expenses or someone else's, as well as the state of the report and how the expenses were added or imported.
For more in-depth information, check out the attached pages