Can you add Expenses to Invoices?
thelast10sf
Member Posts: 4
I've got a workflow question. I build custom furniture so every invoice has line item for labor and materials. When starting a project, I'll estimate materials cost and when closing out an invoice, will invoice the customer (on the same invoice) for the actual materials cost. Is there a way to apply/assign an Expense directly to an invoice? For example, $10 expense from vendor A shows up on the customer's invoice as $10 materials cost from vendor A. Thank you.
0
Comments
Hey @thelast10sf -- So there isn't a way to add an expense directly on an invoice itself (in terms of showing the amount paid to the vendor that you've created in Wave), but we do have a great help centre article that should give you more insight on how to handle expense reimbursements in Wave; https://support.waveapps.com/hc/en-us/articles/115000588103-Claim-reimbursable-expenses-on-an-invoice
Thank you. Not quite what I'm looking for, just a different way of approaching the same manual step. I'd love to be able to apply Expenses directly to an Invoice.
Hi, I was considering this also but am concerned that this may complicate my tax declarations. It might appear that the payment for materials is actually an income. I'm not VAT registered so perhaps your situation is different. Just a thought.