Posting expense reimbursements
andrew at farwestbilliards.com
Sat Dec 17 13:12:45 EST 2005
Derek Atkins wrote:
> Also, have you looked at Vendor Bills and Expense Vouchers? Those let
> you post to Expense Accounts, and let you tie the expense to a
> chargeback customer who then pays you. However it doesn't post to
> balance offset the expense; it increases your Income:Reimbursement
IANAA, sorry, but you have to be careful about increasing your income.
depends on your local, regional and federal tax scheme. In some
jurisdictions, you have to pay a tax on gross income without offset. In
that case you definitely don't want to call that income as you'd be
taxed on it. For most other purposes though, i think it doesn't matter,
as your net number is the same and that's what really counts.
> Hopefully an Accountant can pipe in and give you his/her opinion.
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