Use the Expense feature in DesignerLink 2.0 to ensure all reimbursables can be seamlessly entered and invoiced to Clients. This new feature can be found in the same place you can enter a Time Entry using the Add Entry button.
From an accounting standpoint, handling reimbursable expenses involves a structured process to ensure accurate recording and reimbursement of expenses incurred on behalf of a client, project, or another entity that will ultimately reimburse you.
Here's a step-by-step guide on how to add and monitor reimbursable expenses:
Collect and Organize Receipts: Start by collecting all relevant receipts and invoices related to the expenses you incurred on behalf of a client. Ensure that these receipts are well-organized and easily accessible for the accounting process.
Record the Expense in DesignerLink 2.0:
Bill the Client: Create an invoice for the client or project to bill them for the reimbursable expenses.
Use the "Standard with Reimbursables" or "Week + Employee" Invoice template to view both Reimbursables and Time Entries on the same Invoice.
Use the billed vs unbilled toggle to view which expenses have not been invoiced yet.
Go to the "Time & Expense Report" tab to run reports for both expenses and time entries or just expenses.
The old way of recording expenses led to reimbursables slipping through the cracks and not getting invoiced to the Project. The new way of tracking expenses directly within the DesignerLink 2.0 is way to give more control back to the users. Now you can view your reimbursable expenses consistently, and accurately in both DesignerLink and Quickbooks Online.
Quickbooks ID Mapping setting:
How to update Project Level Tax Rate and Taxable settings:
Video: Creating an Expense
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