Mileage expense posting to checking account in QBO
Hello All,
I have mileage configured as a non-reimbursable expense. I've turned on approvals to pre-verify that the report contains only non-reimbursables, which it does. Why, then, is mileage (an expense) posting to my company checking account and reducing the balance by the mileage amount x mileage rate?
Best Answer
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Since you're looking to track your mileage expenses only, without having them affect your checking account, your best bet might be to mark them as reimbursable in Expensify and export them as a journal entry. Using this option you'll be able to export them to a liability account or an other current asset account instead.
Answers
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Hi @Scott_S! When your configuration is set to export as debit card expenses for non-reimbursable expenses, we will create a debit transaction for each mileage expense marked as non-reimbursable. Can you explain how you would like your mileage expenses to appear in QuickBooks?
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Hi Nicole! Thanks for the response.
I might be having a perception challenge here but to clarify, if mileage is NOT reimbursable then there must be some point to pulling the funds from my company checking ledger, correct? I fail to see the rationale here.
You've asked how I would like to see the expense appear in QBO... Ideally Expensify continues to do all the things that it really is great at, but, I am expecting to treat recorded mileage as a deduction at the end of the year. Therefore I am expecting a running tally of mileage and expense throughout the course of the year. I am a sole proprietor so my mileage is the only mileage (and expenses for that matter) tracked, and, as a startup I am not taking draws or reimbursements.
So am I being thick here? If so perhaps I ought to take a break from reading so much accounting info online for a few days.
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Thank you Nicole. Your suggestion can work. What I've elected to do is to create a new "bank" account and called it Mileage. Expensify now posts non-reimbursable to that account, like before. At the end of every month I will issue a correction. If you see anything wrong with this please let me know. It seems to do the trick at the moment. Cheers!
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That sounds like a great workaround. Thanks for letting me know!
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When is Expensify going to fix this?? Mileage should NEVER be a credit card or bank charge when it is non-reimbursable! This makes it show up on the Balance Sheet as a liability!! We've been asking for a fix for several years.
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When is Expensify going to fix this?? Mileage should NEVER be a credit card or bank charge when it is non-reimbursable! This makes it show up on the Balance Sheet as a liability!! We've been asking for a fix for several years.
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Hi @AquaVitae - this is a limit of the integration. The workaround mentioned above would be your best solution.
