Though this is a manual way to deal with reimbursable expenses, the accounting is still correct. If other systems automate this, it's doing a similar thing to balance the account in your reports. Is there another way that anyone has experienced? If so an explanation of how this is done would be fantastic!
This is a really great question. Unfortunately however I don't believe this type of nuance wouldn't be possible in Wave. Have you heard of other software being able to do this? My guess is that you would get a 1099 adjustment to correct what was your actual income verses reimbursable expenses. I'd reach out to a tax preparer for this as they might have more insight!
Just curious are you seeing two expense transactions? When you add the other income to the invoice, this appears as income, so you need an expense to offset and balance your accounts. However if you're seeing duplicate expense transactions then you'll need to only account for one of them. Delete the duplicate and only categorize the one expense. If you're not seeing duplicates you'll want to just categorize is as a Refund for Income > Reimbursed Expenses.
All I’m looking for is a way to subtotal items in different categories within the invoice. A simple example:
A CAR REPAIR invoice always breaks down into TWO categories, PARTS and LABOR. These two categories are SUBTOTALED at the bottom of the invoice and then TOTALED together.
I want to do the same so that my LABOR charges are one category and all out of pocket EXPENSES are another, and both are SUBTOTALED as described above. This is a common practice when invoicing clients
Hello,
I did as you mentioned above, and it was deduction that I wanted to record in my invoice. So I created an other income account as Claims & fees deducted and tired to put the negative sign. But it is not taking the negative sign.What should I do about that?
Thank you!
@michaelbuday I'm afraid the ability to break one product into two income categories is not currently possible. At this point, if you are charging your customer for parts and labour, then you would need to create individual products for each income category and apply them to the invoice individually.
@Jagneet02_ Once you have created the Claims & Fees account in your Chart of Accounts, you can create the product through Sales > Products and Services and when creating the product, you should be able to add the minus sign before it. The image below should display the steps that I am referring to
Hello,
I did create the product and added a negative sign to it. But when I go back to invoices and split the transaction it still does not come as a negative number or deducts the amount from the total amount.
Thank you!
Hi there, thanks for this help article. Quick question to see if I'm missing something...
I've just finished a 2-week interstate contract where all expenses are to be reimbursed back to my client. Is there a way to total-up or pass-through the receipts that I've been diligently logging and categorising in the receipts app? Or do I have to manually total everything up and send through a separate file of the images to satisfy the clients requirements?
@BarsinA Just wanted to follow up and say that this does, in fact, make sense to me. I must have misunderstood some of the steps, and it's not as complicated as I was making it in my mind.
I'm wondering if you could filter them out in your reports section. Have you set them to a custom account? Could you check your account transactions report (GL) > select the expense account > filter out the dates for which they were uploaded?
Keep in mind if other receipts not related to this project were uploaded to the same expense account on that day they would also appear in this total balance, so it's not necessarily foolproof, but it might cut out some of the manual calculating.
Hey all, I have read the comments and this is still confusing me. I offer a graphic design service and printing. This is my process....
Let's say this is invoice #001
• GRAPHIC DESIGN on one line for £100
• PRINTING on another line for £50
Total £150 invoice for my client.
I pay an external company £30 for printing from my bank (card), making £20 profit on printing.
In my bank statement, there is a transaction for £30 from that printing company.
HOW do I link the £30 bank transaction from the printing company to the invoice I sent my customer to show how much profit I have made in total? This way, I also have a record of what transactions from my bank link to said invoice. Is there a way?
Hey @MooksGoo! Unfortunately, there isn't a way to link that £30 transaction to the invoice that your customer has already paid in full. What I'd recommend is creating a separate expense account to track the £30 that you're essentially using as cost of goods sold. Here's a solid Help Center article on how that would look.
I only see one Expense that was created from my Business Debit Card. The invoice to the customer has a line item for the travel expense that maps to "Reimbursed Expense," which is an Other Income account. The clients check came in and paid the Invoice, and I mapped the income to "Refund for Reimbursed Expense," but I still show the balance for the expense in my Reimbursed Expense Other Income account.
@shafnitz said:
I'm trying to follow these instructions, but there are some problems.
"When you add the reimbursable expense line, be sure to click Edit Income Account, and select the Reimbursable Expenses account we created in Step 2." < There is no "Edit Income Account" when adding a new item to an Invoice. There is a "View income account" which will display which account this particular item is assigned to. In my case, it's the "Reimbursed Expense" account I created previously.
I don't quite understand how I'm supposed to record the payment for this expense. The client made a payment, which included the expense. It seemed the best way to handle recording the payment would be to use the "Split this deposit" option on the specific transaction for the payment (imported from my bank). I split the payment into the payment for the service and the reimbursed expense, when combined equal the total payment amount. However, after doing this, the Invoice shows as "Overdue" for the amount of the expense. Not really sure how I'm supposed to proceed from there.
I think I'm in the same boat with you...
I only see one Expense that was created from my Business Debit Card. The invoice to the customer has a line item for the travel expense that maps to "Reimbursed Expense," which is an Other Income account. The client's check came in and paid the Invoice, and I mapped the income to "Refund for Reimbursed Expense," but I still show the balance for the expense in my Reimbursed Expense Other Income account. If I Split the Payment, then I show the amount of the expense as an open balance on the invoice. Is there a solution?
Hey @DarinSpence , I feel like there may be some confusion here but correct me if I'm misunderstanding something. You want to categorize your customer's check to the invoice like you normally would do. The only thing you're categorizing to Refund for Income > Reimbursable Expense is the Business Debit Card transaction that you have.
Why do you have to split the payment? And is this the customer's check or the business debit card transaction?
> @BarsinA said: > Hey @shafnitz > > Though this is a manual way to deal with reimbursable expenses, the accounting is still correct. If other systems automate this, it's doing a similar thing to balance the account in your reports. Is there another way that anyone has experienced? If so an explanation of how this is done would be fantastic! > > Hi @michaelbuday > > This is a really great question. Unfortunately however I don't believe this type of nuance wouldn't be possible in Wave. Have you heard of other software being able to do this? My guess is that you would get a 1099 adjustment to correct what was your actual income verses reimbursable expenses. I'd reach out to a tax preparer for this as they might have more insight! > > Howdy @darinspence > > Just curious are you seeing two expense transactions? When you add the other income to the invoice, this appears as income, so you need an expense to offset and balance your accounts. However if you're seeing duplicate expense transactions then you'll need to only account for one of them. Delete the duplicate and only categorize the one expense. If you're not seeing duplicates you'll want to just categorize is as a Refund for Income > Reimbursed Expenses.
The expense is a line item on the invoice, and that line item is mapped up a reimbursed expense income account.
The bank account that paid for the meal Is connected to Wave, so the meal expense shows up in the imported bank transactions as well, which I mapped to refund for reimbursed expenses.
The expense is showing up as a credit in the Reimbursed Income Account (this account should be $0, but is inflated by the bank transaction... But I'm not sure where to map it).
I could delete the bank transaction...but then I cannot reconcile my bank account.
Hi, I am new to wave and wondering what the correct way to post reimbursable client expenses is. We are a consulting firm and we direct bill our client for flights, hotel and meals. Should I post those expenses under a COGS account, or under the appropriate expense accounts? Also I have seen other bookkeeping software that has a way to mark which expenses are billable to the client, does Wave offer this feature? Thank you!
Hi @DarinSpence . Sorry for the late response here, your post slipped through the cracks. Did you categorize it as Refund for Income > Reimbursable expense, or did you categorize it directly to the reimbursable expense account? It should be the former which should allow you to zero out the account.
Hi @JF_1009 , I merged your thread into this one to learn how to handle reimbursable expenses in Wave!
While attachments can't be included in invoices when sent via Wave at this time, you can send an attachment alongside a Wave invoice via Gmail, Outlook, and Yahoo. Wave gives you the option to send it from your email when you click 'Send Invoice.'
Another option is to download the PDF of the invoice, while still retaining the payments by wave link so your clients can pay online, and attaching it to an email with other documentation if you like as well!
Hopefully this helps you accomplish what you were looking!
As someone still struggling to come to terms with debit/credit (so thanks for the explanation in Frearless Accounting) I am trying to understand invoicing for reimbursable expenses.
Do I understand correctly that I need to create not only a single 'Reimbursed Expense' account but one for each customer that I might want to recharge, each with a distinguishing name e.g. 'Reimbursed Expense-customername'?
Then when I record the actual expense I use the Category: Refund for Income > Reimbursed Expenses-customername. This will put all the expenses into a single account file that I can check at Reports>Account Transactions>Reimbursed Expenses-customername.
N.B. a common problem with support articles where the writer is so familiar with the subject that they skip steps. Does para 2 of https://support.waveapps.com/hc/en-us/articles/115000588103-Claim-reimbursable-expenses-on-an-invoice> mean
Reports>Account Transactions (General Ledger) or;
Reports>Account Balances>Reimbursed Expenses-customername>Account Transactions>?
(Please recall my competency level - I don't know the difference between them so I am just blindly following instructions.)
Then when I raise the invoice I add the expenses as a Product line that connects to the Reimbursed Expenses-customername - but I then have to manually input all of the detail again, i.e. "You can include the specific details of your reimbursable expense in the product description.".
To do this I will need to open the Account Transactions file to make sure that I pick them all up and then duplicate the recording of the detail.
This seems both laborious and open to manual input error when the system has already recorded all the information.
I have followed the steps set out in step 1 and 2 of this note but when I get to step 3 and try to generate the invoice the reimbursable expense does not appear as one of the products that I can add to the invoice. I am not sure how to fix it. Please help.
How do I correctly record the expense that iI used my credit card to pay for and is reimbursed with a check from the customer that I deposit into my business bank account? For example, my fee is $!50 and the reimbursable expense is $71.97 (charged to my credit card). No interest on credit card incurs b/c customer pays invoice upon receipt and I pay credit card balance before it is charged any interest. How and where do I categorize each as Income and Reimburs Income??
Hi @BruceB! Thanks for reaching out. We are glad to hear you enjoyed the Fearless Accounting guide. It is up to you if you want to create reimbursement accounts for each customer or if you wish to track reimbursements in one account. Creating individual accounts for each customer can be helpful if you will be recording reimbursements with them frequently.
From what have recorded it sounds like you are following the steps correctly! In terms of the 'report' you can generate this would be the steps to follow: Reports > Account Transactions (General Ledger) > enter the 'Reimbursed Expense - customername' account and the dates and then 'update report'. This will show you where you have recorded the income on the invoice and the expense in your transactions page.
When raising the invoice, you are correct - add the reimbursement income account and then in the description you can write out what it is for. This is a bit of a manual process at the moment. Hopefully it is something we can work on streamlining in the future!
Hey @Okyerebea! You won't be able to add it as a product if you have not previously saved it. Instead what you would do at this step is click 'Add an item' on the invoice then select 'Add a new item' from the drop down. Then you would add the 'reimbursement' income account and record the reimbursement expense as you need!
Hey @VitalLiving! Are you able to explain in a bit further detail what you are doing? Do you create an invoice for your customer when doing this? If you are using just income/expense transactions it may be a little different!
Hi,
I don't think I have a different problem with this - but, I don't see a solution in things discussed yet.
My specific problem that I have is that I could (actually do now) have more than one job associated with any one client and need a way of associating costs/expenses to that specific job, instead of a general heading.. My costs will include items purchased as resale to the client at a mark-up as well... so, need to cleanly identify those with that job listing.
I have used software in the past that you could associate a job/po# to it, and it would show up as a job expense - without being listed separately as a "Reimburseable".
Is there a way to do that??
Thanks.
I am really confused by this. I have recorded the reimbursement as you have instructed and that worked. However, this is not recorded as COGS or any type of expense on my P & L statement - the expense is only offsetting the income in the income account. I have been a bookkeeper for 15 years and have always been told by accountants that expenses are expenses even if you charge the client for them, fully, partially or marked up. I have been using Sage50 for years and am trying out Wave with a few smaller clients to try to simplify things. Do you not follow normal accrual accounting methods? I am wondering if I am going to be able to use Wave at all...please advise.
Can I change existing transactions for 2019? All my reimbursed expenses are showing up under income for 2019. I can do a mass offset accounting entry for 2019 but wanted to see if there is an alternative.
We may need a bit more info here if that's okay. Did your transactions occur in 2019 or 2020? You'll want to record your transactions at the exact date in which they happened. Reconciling your accounts will help with this. Reach out with a bit more detail of what you're looking to do and we may be able to help!
This is for the paid invoices in 2019, there are reimbursed expenses as a product entry on all these invoices. It was initially under Sales for all 2019 till March 2020, now that I moved reimbursed expenses under other income, I was expecting the reports generated for 2019 will reflect the reorganization of account under other income. But reimbursed expenses still shows under sales for all the existing transactions. I went ahead and created offset for each of the expense paid in 2019, which corrected the taxable income for 2019. However, now the question is that the actual expenses were loaded through credit card/bank integration, they are all categorized accordingly. With offset created to take out reimbursed expenses from the taxable income 2019, does this mean that my actual expenses recorded are double dipping on 2019 P&L report?
Comments
Hey @shafnitz
Though this is a manual way to deal with reimbursable expenses, the accounting is still correct. If other systems automate this, it's doing a similar thing to balance the account in your reports. Is there another way that anyone has experienced? If so an explanation of how this is done would be fantastic!
Hi @michaelbuday
This is a really great question. Unfortunately however I don't believe this type of nuance wouldn't be possible in Wave. Have you heard of other software being able to do this? My guess is that you would get a 1099 adjustment to correct what was your actual income verses reimbursable expenses. I'd reach out to a tax preparer for this as they might have more insight!
Howdy @darinspence
Just curious are you seeing two expense transactions? When you add the other income to the invoice, this appears as income, so you need an expense to offset and balance your accounts. However if you're seeing duplicate expense transactions then you'll need to only account for one of them. Delete the duplicate and only categorize the one expense. If you're not seeing duplicates you'll want to just categorize is as a Refund for Income > Reimbursed Expenses.
All I’m looking for is a way to subtotal items in different categories within the invoice. A simple example:
A CAR REPAIR invoice always breaks down into TWO categories, PARTS and LABOR. These two categories are SUBTOTALED at the bottom of the invoice and then TOTALED together.
I want to do the same so that my LABOR charges are one category and all out of pocket EXPENSES are another, and both are SUBTOTALED as described above. This is a common practice when invoicing clients
Hello,
I did as you mentioned above, and it was deduction that I wanted to record in my invoice. So I created an other income account as Claims & fees deducted and tired to put the negative sign. But it is not taking the negative sign.What should I do about that?
Thank you!
@michaelbuday I'm afraid the ability to break one product into two income categories is not currently possible. At this point, if you are charging your customer for parts and labour, then you would need to create individual products for each income category and apply them to the invoice individually.
@Jagneet02_ Once you have created the Claims & Fees account in your Chart of Accounts, you can create the product through Sales > Products and Services and when creating the product, you should be able to add the minus sign before it. The image below should display the steps that I am referring to
Hello,
I did create the product and added a negative sign to it. But when I go back to invoices and split the transaction it still does not come as a negative number or deducts the amount from the total amount.
Thank you!
@Jagneet02_ Can you provide me with a screenshot of the issue? Also are you able to let me know which browser you are using to access Wave?
Hi there, thanks for this help article. Quick question to see if I'm missing something...
I've just finished a 2-week interstate contract where all expenses are to be reimbursed back to my client. Is there a way to total-up or pass-through the receipts that I've been diligently logging and categorising in the receipts app? Or do I have to manually total everything up and send through a separate file of the images to satisfy the clients requirements?
@BarsinA Just wanted to follow up and say that this does, in fact, make sense to me. I must have misunderstood some of the steps, and it's not as complicated as I was making it in my mind.
Hey @Mark_a
I'm wondering if you could filter them out in your reports section. Have you set them to a custom account? Could you check your account transactions report (GL) > select the expense account > filter out the dates for which they were uploaded?
Keep in mind if other receipts not related to this project were uploaded to the same expense account on that day they would also appear in this total balance, so it's not necessarily foolproof, but it might cut out some of the manual calculating.
Hey all, I have read the comments and this is still confusing me. I offer a graphic design service and printing. This is my process....
Let's say this is invoice #001
• GRAPHIC DESIGN on one line for £100
• PRINTING on another line for £50
Total £150 invoice for my client.
I pay an external company £30 for printing from my bank (card), making £20 profit on printing.
In my bank statement, there is a transaction for £30 from that printing company.
HOW do I link the £30 bank transaction from the printing company to the invoice I sent my customer to show how much profit I have made in total? This way, I also have a record of what transactions from my bank link to said invoice. Is there a way?
Hey @MooksGoo! Unfortunately, there isn't a way to link that £30 transaction to the invoice that your customer has already paid in full. What I'd recommend is creating a separate expense account to track the £30 that you're essentially using as cost of goods sold. Here's a solid Help Center article on how that would look.
I only see one Expense that was created from my Business Debit Card. The invoice to the customer has a line item for the travel expense that maps to "Reimbursed Expense," which is an Other Income account. The clients check came in and paid the Invoice, and I mapped the income to "Refund for Reimbursed Expense," but I still show the balance for the expense in my Reimbursed Expense Other Income account.
I think I'm in the same boat with you...
I only see one Expense that was created from my Business Debit Card. The invoice to the customer has a line item for the travel expense that maps to "Reimbursed Expense," which is an Other Income account. The client's check came in and paid the Invoice, and I mapped the income to "Refund for Reimbursed Expense," but I still show the balance for the expense in my Reimbursed Expense Other Income account. If I Split the Payment, then I show the amount of the expense as an open balance on the invoice. Is there a solution?
Hey @DarinSpence , I feel like there may be some confusion here but correct me if I'm misunderstanding something. You want to categorize your customer's check to the invoice like you normally would do. The only thing you're categorizing to Refund for Income > Reimbursable Expense is the Business Debit Card transaction that you have.
Why do you have to split the payment? And is this the customer's check or the business debit card transaction?
> Hey @shafnitz
>
> Though this is a manual way to deal with reimbursable expenses, the accounting is still correct. If other systems automate this, it's doing a similar thing to balance the account in your reports. Is there another way that anyone has experienced? If so an explanation of how this is done would be fantastic!
>
> Hi @michaelbuday
>
> This is a really great question. Unfortunately however I don't believe this type of nuance wouldn't be possible in Wave. Have you heard of other software being able to do this? My guess is that you would get a 1099 adjustment to correct what was your actual income verses reimbursable expenses. I'd reach out to a tax preparer for this as they might have more insight!
>
> Howdy @darinspence
>
> Just curious are you seeing two expense transactions? When you add the other income to the invoice, this appears as income, so you need an expense to offset and balance your accounts. However if you're seeing duplicate expense transactions then you'll need to only account for one of them. Delete the duplicate and only categorize the one expense. If you're not seeing duplicates you'll want to just categorize is as a Refund for Income > Reimbursed Expenses.
The expense is a line item on the invoice, and that line item is mapped up a reimbursed expense income account.
The bank account that paid for the meal Is connected to Wave, so the meal expense shows up in the imported bank transactions as well, which I mapped to refund for reimbursed expenses.
The expense is showing up as a credit in the Reimbursed Income Account (this account should be $0, but is inflated by the bank transaction... But I'm not sure where to map it).
I could delete the bank transaction...but then I cannot reconcile my bank account.
Hi, I am new to wave and wondering what the correct way to post reimbursable client expenses is. We are a consulting firm and we direct bill our client for flights, hotel and meals. Should I post those expenses under a COGS account, or under the appropriate expense accounts? Also I have seen other bookkeeping software that has a way to mark which expenses are billable to the client, does Wave offer this feature? Thank you!
Hi @DarinSpence . Sorry for the late response here, your post slipped through the cracks. Did you categorize it as Refund for Income > Reimbursable expense, or did you categorize it directly to the reimbursable expense account? It should be the former which should allow you to zero out the account.
Hi @JF_1009 , I merged your thread into this one to learn how to handle reimbursable expenses in Wave!
I going to show you example this is from the other system I be using>/Users/goodssavers/Desktop/Screen Shot 2020-01-21 at 3.48.37 PM.png
I want to Attach documento in the invoice.
How I do this in yours system.
Hey there @Juan_Santana007
While attachments can't be included in invoices when sent via Wave at this time, you can send an attachment alongside a Wave invoice via Gmail, Outlook, and Yahoo. Wave gives you the option to send it from your email when you click 'Send Invoice.'
Another option is to download the PDF of the invoice, while still retaining the payments by wave link so your clients can pay online, and attaching it to an email with other documentation if you like as well!
Hopefully this helps you accomplish what you were looking!
As someone still struggling to come to terms with debit/credit (so thanks for the explanation in Frearless Accounting) I am trying to understand invoicing for reimbursable expenses.
Do I understand correctly that I need to create not only a single 'Reimbursed Expense' account but one for each customer that I might want to recharge, each with a distinguishing name e.g. 'Reimbursed Expense-customername'?
Then when I record the actual expense I use the Category: Refund for Income > Reimbursed Expenses-customername. This will put all the expenses into a single account file that I can check at Reports>Account Transactions>Reimbursed Expenses-customername.
N.B. a common problem with support articles where the writer is so familiar with the subject that they skip steps. Does para 2 of https://support.waveapps.com/hc/en-us/articles/115000588103-Claim-reimbursable-expenses-on-an-invoice> mean
Reports>Account Transactions (General Ledger) or;
Reports>Account Balances>Reimbursed Expenses-customername>Account Transactions>?
(Please recall my competency level - I don't know the difference between them so I am just blindly following instructions.)
Then when I raise the invoice I add the expenses as a Product line that connects to the Reimbursed Expenses-customername - but I then have to manually input all of the detail again, i.e. "You can include the specific details of your reimbursable expense in the product description.".
To do this I will need to open the Account Transactions file to make sure that I pick them all up and then duplicate the recording of the detail.
This seems both laborious and open to manual input error when the system has already recorded all the information.
Or am I missing something?
I have followed the steps set out in step 1 and 2 of this note but when I get to step 3 and try to generate the invoice the reimbursable expense does not appear as one of the products that I can add to the invoice. I am not sure how to fix it. Please help.
How do I correctly record the expense that iI used my credit card to pay for and is reimbursed with a check from the customer that I deposit into my business bank account? For example, my fee is $!50 and the reimbursable expense is $71.97 (charged to my credit card). No interest on credit card incurs b/c customer pays invoice upon receipt and I pay credit card balance before it is charged any interest. How and where do I categorize each as Income and Reimburs Income??
Hi @BruceB! Thanks for reaching out. We are glad to hear you enjoyed the Fearless Accounting guide. It is up to you if you want to create reimbursement accounts for each customer or if you wish to track reimbursements in one account. Creating individual accounts for each customer can be helpful if you will be recording reimbursements with them frequently.
From what have recorded it sounds like you are following the steps correctly! In terms of the 'report' you can generate this would be the steps to follow: Reports > Account Transactions (General Ledger) > enter the 'Reimbursed Expense - customername' account and the dates and then 'update report'. This will show you where you have recorded the income on the invoice and the expense in your transactions page.
When raising the invoice, you are correct - add the reimbursement income account and then in the description you can write out what it is for. This is a bit of a manual process at the moment. Hopefully it is something we can work on streamlining in the future!
Hey @Okyerebea! You won't be able to add it as a product if you have not previously saved it. Instead what you would do at this step is click 'Add an item' on the invoice then select 'Add a new item' from the drop down. Then you would add the 'reimbursement' income account and record the reimbursement expense as you need!
Hey @VitalLiving! Are you able to explain in a bit further detail what you are doing? Do you create an invoice for your customer when doing this? If you are using just income/expense transactions it may be a little different!
Hi,
I don't think I have a different problem with this - but, I don't see a solution in things discussed yet.
My specific problem that I have is that I could (actually do now) have more than one job associated with any one client and need a way of associating costs/expenses to that specific job, instead of a general heading.. My costs will include items purchased as resale to the client at a mark-up as well... so, need to cleanly identify those with that job listing.
I have used software in the past that you could associate a job/po# to it, and it would show up as a job expense - without being listed separately as a "Reimburseable".
Is there a way to do that??
Thanks.
I am really confused by this. I have recorded the reimbursement as you have instructed and that worked. However, this is not recorded as COGS or any type of expense on my P & L statement - the expense is only offsetting the income in the income account. I have been a bookkeeper for 15 years and have always been told by accountants that expenses are expenses even if you charge the client for them, fully, partially or marked up. I have been using Sage50 for years and am trying out Wave with a few smaller clients to try to simplify things. Do you not follow normal accrual accounting methods? I am wondering if I am going to be able to use Wave at all...please advise.
Can I change existing transactions for 2019? All my reimbursed expenses are showing up under income for 2019. I can do a mass offset accounting entry for 2019 but wanted to see if there is an alternative.
Hi @EmmaP - Can you please respond to my question above?
Hey @Product_guys
We may need a bit more info here if that's okay. Did your transactions occur in 2019 or 2020? You'll want to record your transactions at the exact date in which they happened. Reconciling your accounts will help with this. Reach out with a bit more detail of what you're looking to do and we may be able to help!
This is for the paid invoices in 2019, there are reimbursed expenses as a product entry on all these invoices. It was initially under Sales for all 2019 till March 2020, now that I moved reimbursed expenses under other income, I was expecting the reports generated for 2019 will reflect the reorganization of account under other income. But reimbursed expenses still shows under sales for all the existing transactions. I went ahead and created offset for each of the expense paid in 2019, which corrected the taxable income for 2019. However, now the question is that the actual expenses were loaded through credit card/bank integration, they are all categorized accordingly. With offset created to take out reimbursed expenses from the taxable income 2019, does this mean that my actual expenses recorded are double dipping on 2019 P&L report?