Billable Expenses

Overview

Billable Expenses are expenses incurred by your business on behalf of customers, with the expectation that they will later reimburse you. Examples of billable expenses include costs for travel, materials, or external services. Accounter allows you to track these expenses efficiently and invoice customers accordingly.

Enable Billable Expenses

To start tracking Billable Expenses:

1. Navigate to the Settings tab
2. Click on Billable Expenses
3. Ensure the Enabled checkbox is checked

Set Up Billable Expenses Tracking for Customers

After enabling Billable Expenses:

1. Go to the Customers tab
2. Click the Edit columns button
3. Activate the Uninvoiced column. This allows you to view billable expenses that have not yet been invoiced for each customer

Using Billable Expenses in Transactions

Upon activating Billable Expenses, a new asset account named Billable Expenses is automatically added to your Chart of Accounts and can be utilized in various transactions. To record a Billable Expense:

1. Create or edit transactions such as Payments, Expense Claims, or Purchase Invoices
2. Select the Billable Expenses account
3. Choose the specific Customer to allocate the expense

Accounting Impact of Billable Expenses

The Billable Expenses account is an asset account shown on your Balance Sheet. Consequently, recording billable expenses does not immediately impact your Profit and Loss Statement. This ensures that your income and expenses are not misstated by costs you expect customers to reimburse later.

Best Practices

• Regularly review the Uninvoiced column to identify outstanding billable expenses
• Assign billable expenses to the correct customer for accurate tracking
• Include detailed descriptions to support customer invoicing
• Set up approval processes for billable expense claims
• Monitor billable expense aging to ensure timely invoicing