Reimbursible Expense

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

That works! Thanks.

TR