unofficial microsoft.public.money FAQ and A
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Q) How do I handle employer reimbursable expenses?
A) There are a few ways to treat employer reimbursables. Some people prefer creating a cash account (entitled "Reimbursed Expenses" or similar). Treat expenses to be reimbursed as transfers in from the account used to pay for the expense, and treat reimbursements as transfers from this account to the account destined to receive the reimbursement.
Another way would be to use an expense category (entitled "Job-Related Expenses:Reimbursable" or similar). Treat expenses to be reimbursed as debits against the category, and treat reimbursements as credits against the category. Depending on your Tools|Options setting, Money may complain about using an expense category for what is an income transaction, You can tell Money this is what you intend. In addition, if your taxing authority allows for the deduction/treatment of unreimbursed employee expenses (as in the United States), be sure to associate the expense category to the proper tax form/line. This way, any monies not reimbursed will appear as an outstanding balance in tax-related reports/calculations.
Thanks to Derrick Cole for this answer.
Please see this disclaimer if you are using Money 2005 or this comment if you are using Money 2006.
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Last update: 10 December 2006 |
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