Thanks for coming back, SRD5000.
We use the Accounts Payable A/P to record outstanding bills for your business. This tracks the money you owe your vendors. When Paying bills (as provided by my colleague), QuickBooks will add Accounts Payable to your Chart of Accounts.
If you created an invoice from the billable expense, we can enable the Track reimbursed expenses as income feature in the QuickBooks Preferences. This will show the invoice transaction posted to Account Receivable (A/R) as paid in the Profit and Loss report.
Here's how:
- Go to Edit and choose Preferences.
- Select Time & Expenses and choose Company Preferences.
- Mark to select Track reimbursed expenses as income.
- Click on OK.
We also recommend consulting your accountant first before changing the posted account in the transaction. Any concerns on how these accounts affect your books are best handled by them. Also, any changes to your account in QuickBooks will affect the balance on your register.
For more details about A/P and A/R, check out these articles:
Visit our QuickBooks Help Articles for more insights about managing your business in your account.
This will take you in the right direction today, but please don't hesitate to get back to me if you have any follow-up concerns. I'm always here to help. Have a great day ahead.
