I will use different credit cards to cover the company’s travel expenses. How can I record these expenses in different credit card accounts and also manage them uniformly for reimbursement?
You could assign either a Category or a Tag to those special charges and separate them out in reports that way.
Thanks for your replay~
I assign a Tag for this expenses. As shown in the screenshot, there are five expenses from different accounts, totaling 3030 yuan. After the company reimburses and transfers 3030 yuan, how can I batch mark these expenses as reimbursed?
In this case, you could create two different tags: one for new expenses not yet reimbursed, and another for ones that have been reimbursed. (The actual name of each tag can obviously be shorter - it only needs to tell you which it is.) Then you manually need to change the assigned tag when an expense gets reimbursed. (This would actually be removing the first tag and adding the second.)
Another possibility would be to use a “reimbursement” category for pending reimbursements, and then change to the actual category, such as “hotel” “meals” “travel” perhaps with those three grouped under a “business expense” category.
I have a similar problem and here’s my solution: I have created an asset account called “Travel expenses”. When I categorize an expense on the credit card account (or any other for that matter), I make it a transfer to this account. Then when I receive the reimbursement on my checkings account, I categorize that as a transfer from the “Travel expenses” account. This has the advantage, that my networth stays up-to-date and I know if expense are still not paid back (goal is to keep Travel expense account balance at zero).
Thanks for your replay~
I would like to ask two questions.
1.At “Tags” page, Can I change all five records tages in the screenshot from “reimbursement” to “reimbursed” In one operation?
2. I have already set up “hotel” “meals” “travel” under a “business expense” category. But at “Ledgers” page, When I select the “business expense” category, no expenses are displayed。only select the “hotel” category show hotel expenses…ect。Is there a setting that is not correct?
Thanks for your replay~
I tried this method, but found in transfer that I cannot select the category, such as “hotel” “meals” “travel”. only mark it in the memo. Is that right?
Yes, that is correct. You can either have a category or an account but not both.
Maybe, you can explain what you try to achieve. Are you trying to look at it from a company’s perspective or from an employee who gets reimbursed. Think of a use case description.
Example (my use case): I as a user want to record expenses I paid for an external entity (my employer) and which will get eventually reimbursed. I want to see how much the external entity owes me and want those expenses not to change my networth balance.
I appreciate your suggestion. It presents a viable solution that warrants consideration.