That's how I've been doing it since 2015, but when I run a P and L, it doesn't seem to make sense. A consultant instructed me to record these expenses as Items (instead of 'expenses') so that they may then be added to an invoice and cancel themselves out (so to speak) once that invoice had been paid. In 2015, I learned that I was not tracking these expenses properly. Sometimes these reimbursable expenses can be rather large and I worry about paying taxes on them since client will pay the invoice with one check. How should I be recording these expenses and then how should I be invoicing my client for them?
These expenses occur either via my business CC or checking account. However, 2 jobs out of 10, I incur reimbursable expenses that are to be repaid by my client. Question: 8 jobs out of 10, I will invoice a client for my services (my 'fee') only. I'm an independent contractor in a service based business (freelance producer & photo assistant) using Quickbooks 2016 for Mac.
This is an issue that I can't seem to wrap my mind around / resolve / remember how to handle.
