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Reimbursible Expense

I am trying to track purchases I make and my company then reimburses me for. I set up a Cash Flow:Spending account titled "Reimbursible Expense" and use it as the Category for purchases I make. When I get a check from my company to reimburse me for these purchases I use the same account for my deposit into my checking account.

It works, but when I review my transactions in the Reimbursible Expense account, my purchases are listed under the receive column and my reimbursements are under the spend column. I want this account to be in the negative when I need to get a check from my company and no it is in the positive. I am sure it is an account type/setting that needs to be changed. Any ideas?

I hope this is clear. Thanks in advance.

Terry Ribbens

Reply to
TR
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OK, let's go thru reimbursable processing ... using real examples from my accounts.

I buy, using my Visa, $101.54 in postage stamps. This credit card charge will be reimbursed by the non-profit that I'm buying them for. The transactions that I record in Quicken are:

In the Visa account register, US Post Office, $101.54 in the "Charge" column, category is "Receivables" (my name for the Reimbursables ASSET account). Make sure that Visa is set up as a LIABILITY account, and your "Reimbursable" account is an ASSET.

The transaction in the Visa account causes there to be recorded in my Receivables account (because of the category that I used), another txn. This one is also US Post Office, also for $101.54, but it is in the INCREASE column. The net effect of the offsetting transactions is that my liabilities have gone up, but so have my assets ... a net zero.

When I receive the check, I deposit it to my bank account (recording the $101.54 in the Deposit column of my bank asset account) with a category of Receivables. The offset transaction is recorded in my Receivables account with $101.54 appearing in the "Decrease" column. Again, a net zero.

I suspect that you may have your account types set up improperly ... but I went thru the whole process just in case.

db

Reply to
danbrown

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