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Replying to:
AldrinS
QuickBooks Team

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Hi there, pam0315.

 

You've come to the right place. Entering billable expenses is my specialty, so let me lend a helping hand in recording this in QuickBooks.

 

We'll begin by setting up the preferences that'll allow us to mark expenses as billable and enter a markup percentage. Let me walk you through the steps on how to do it:

  1. From the Edit menu, choose Preferences.
  2. Select Time & Expenses.
  3. Go to the Company Preferences tab.
  4. In the Invoicing Options section, check the Mark all expenses as billable option.
  5. Enter the Default Markup Percentage.
    - You can leave this blank if there isn't a default percentage for the markup.
  6. From the Default Markup Account drop-down menu, choose the correct account.
    - If you don't have one yet, you can always scroll up and select Add New to quickly create a markup account.
  7. Click OK.

After we've set it up, allow me to guide you on how to enter the power and porta potty bills as billable expenses:

  1. From the Vendors menu, select Enter bills.
  2. Choose the Vendor.
  3. Enter the Date.
  4. Fill in the appropriate details in the following fields:
    - Account: Make sure to choose the correct account.
    - Amount: Enter the total amount of the bill.
    - Memo: You can leave this field blank if necessary.
    - Customer:Job: Choose the customer billable for this expense. Choosing the customer will automatically mark this expense as Billable.
  5. Click Save & Close.

We're almost done. Now, we just need to create the invoice for the customer with the marked up amount. Here's how:

  1. Click the Customers menu, then select Create Invoices.
  2. Enter the customer that you entered on the bill.
  3. On the Billable Time/Costs pop-up window, choose Select the outstanding billable time and costs to add to this invoice.
  4. Go to the Expenses tab.
  5. Select the right expense.
  6. In the Markup Amount or % field, make sure the correct amount or percentage is entered.
  7. In the Markup Account field, make sure the right account is selected.
  8. Click OK, then Save & Close.

That should do it! I'm confident that with these resources you'll be able to enter billable expenses like a pro in no time. You'll also be all set with your Profit & Loss report after you follow these steps.

 

Keep in touch with me here if there's anything else you need. I always got your back. Thanks for reaching out, wishing you and your business the best.

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