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ACD2007
Level 1
posted
‎July 01, 2024 09:21 AM
last updated ‎June 30, 2024 4:21 PM

Per Diems as a consultant

I work as a consultant and when my client requires me to travel I pay for my airfare and accommodation, which they reimburse (it is not invoiced) and then they give me a per diem for meals. 

Due to the locations I go to cash is usually the only method of payment so I typically withdraw cash in the local currency and then use that to pay for food.  If I need extra then I use my business card which shows up on my account.

So questions:

I pay for my own airfare (e.g $1,000) and accomm (e.g. $500), these receipts are reimbursed and I do not invoice, just send receipts. How do I show this expenditure and then the incoming money?

I receive a per diem for meals, this is not invoiced, it is just sent (e.g. $500) and when I land in the country I withdraw most of this (e.g. $400) to spend on meals as necessary.

If I need more then I use my card, which then shows on my account (e.g. $100).

 

Sorry for the many questions but I am new to the consultancy game and this was my first travel.

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1 Comment 1
IntuitSheila
Level 8
‎July 01, 2024 10:06 AM

Per Diems as a consultant

Hi Allison,

 

Thanks for posting in the Community!

 

If you are using the QBO Plus and Advance plan, you can enter billable expenses in QuickBooks. First, let's turn on billable expense in your settings.

 

  1. Click on Settings and choose Account & Settings.
  2. Click on Expenses tab.
  3. Click Bills and expenses and click on Edit.
  4. Turn on Make expenses and items billable.
  5. Click on Save.

Next, you can set a product or service item for the per diem you've received. To create products/service:

 

  1. Click on Settings and choose Products and services.
  2. Select product type like Service or non-inventory.
  3. Enter name like Per diem.
  4. Enter details in the other field.
  5. Click on Save.

 

Once done, you can create and add billable expenses to invoices.

 

  1. Click on + New.
  2. Click on Invoice.
  3. Click Customer from the dropdown menu.
  4. Click Add on the billable expense you wanted to charge.
  5. Click on Save and close.

To learn more about the billable expense option in QBO, check this link Enter billable expenses in QBO. 

 

Feel free to reply to this thread if you have other questions with QBO. 

 

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