<topic sku="core" tNum="226383" author="sallyh" xmlns="x-schema:hhTopicSchema.xml"><index><title>Keep track of reimbursable expenses</title><category>general</category><klink type="prcdr">How do I keep track of reimbursable expenses?</klink></index>
<content>
<extend>
<tease>Why?</tease>
<reveal>
<p>If you pay business expenses for which you are reimbursed later (for example, by your employer), you can create an asset account to help you track these expenditures and your reimbursements.</p>
</reveal>
</extend>
<ol>
<li>On the <emph>Accounts & Bills</emph> menu, click <emph>Account Setup</emph>.</li>
<li>Click <emph>Add a new account</emph>.</li>
<li>Click <emph>Not held at a bank, broker, or other financial institution</emph>, and then click <emph>Next</emph>.</li>
<li>Click <emph>Asset</emph>, and then click <emph>Next</emph>.</li>
<li>Enter a name for the asset account, such as "Reimbursable expenses," and the date you want to start tracking reimbursable expenses, and then click <emph>Next</emph>.</li>
<li>Use the default value of zero for the asset's value, and then click <emph>Next</emph>.</li>
<li>Click <emph>No</emph>, and then click <emph>Finish</emph>.</li>
</ol>
<extend>
<tease>Tip</tease>
<reveal>
<p>When you pay for a business expense from one of your personal accounts, enter the payment as a transfer from that account to the asset account you just created. When you're reimbursed, enter the deposit as a transfer from the asset account. For example, if you spend $50 on reimbursable expenses using your credit card, enter the $50 transaction in your credit card account as a transfer to your Reimbursable expenses asset account. When your employer gives you a check for $50, deposit it in your checking account and record it as a transfer from Reimbursable expenses.</p>
<p>At any time, you can see how much you are owed by looking at the balance in your Reimbursable expenses account. After you are reimbursed for all your expenses, the balance of the asset account should be zero.</p>
